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MEX Mexican Gold Mining Corp

0.085
0.00 (0.00%)
Last Updated: 14:30:07
Delayed by 15 minutes
Share Name Share Symbol Market Type
Mexican Gold Mining Corp TSXV:MEX TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.085 0.085 0.105 0 14:30:07

Midlands Minerals Drills 27 Metres Grading 2.97 gpt Gold at Kaniago West

06/02/2012 10:00am

Marketwired Canada


Midlands Minerals Corp. ("Midlands" or the "Company") (TSX
VENTURE:MEX)(OTCQX:MDLXF) announces new drill results from its Kaniago West
target on its Kaniago gold project in Ghana. The Kaniago project straddles the
"Esaase-Kaniago West Shear Zone" which also hosts Keegan Resources' Esaase gold
deposit (4.9M oz) and PMI Gold Corporation's Abore gold deposit (560,000 oz).
Significant new intercepts drilled at Kaniago West include: 




  KNRC-11-041       27 metres grading 2.97 gpt gold (from 123 metres)       
  KNRC-11-044       16 metres grading 1.21 gpt gold (from 10 metres)        
  KNRC-11-048       33 metres grading 0.87 gpt gold (from 117 metres)       
               and  17 metres grading 1.83 gpt gold (from 171 metres)       
  KNRC-11-052       3 metres grading 6.80 gpt gold (from 57 metres)         



During 2011, Midlands drilled 24 reverse circulation ("RC") drill holes for a
total of 4,199 metres into the Kaniago West target. Results were released for
the first ten holes (1,475 metres) in a press release dated June 16, 2011. The
new results, from 14 holes (2,724 metres), indicate that the deposit is open to
the north and south and down dip. Gold mineralization has been defined over a
strike length of at least 430 metres and over a vertical range of 120 metres.
These initial discovery and target definition drill holes have provided Midlands
with a strong basis to continue drilling the Kaniago West deposit. The results
emphasize the potential for a large shallow, potentially bulk-mineable gold
deposit. 


Midlands Minerals recently released a drill update from the Mmooho deposit on
the Kaniago gold project (see press release dated February 2, 2012). The Company
continues to drill at both of the Mmooho and Kaniago West deposits which are
located 5.5 kilometres apart on strike. These deposits are both situated within
the NE-SW-oriented "Esaase-Kaniago West Shear Zone" which currently hosts 5.46M
oz of total gold resources on neighbouring companies' concessions. Numerous soil
gold anomalies remain untested between the Mmooho and Kaniago West gold
mineralized zones and will be the subject of ongoing exploration efforts. 


Leapfrog modeling of the Kaniago West gold mineralized zone has facilitated a
growing understanding of the geometry of the deposit. Mineralization is
continuous and the grade distribution model defines two sub-parallel mineralized
zones containing auriferous quartz veins. These zones intersect at an area of
thickening with increasing grade at depth towards the southern end of the drill
area. The mineralized zones are dipping shallowly at 25 degrees towards the
west, and mineralization outcrops at the northern end of the drill area. The
intersection of the two mineralized trends defines the start of a potential gold
mineralized shoot which plunges at 5 degrees towards the north. This zone of
thickening is open to the north, south and down dip in the plane of the
mineralization. 


Craig Pearman, President and CEO of Midlands commented: "It is encouraging that
recent drilling has continued to expand the Kaniago West gold mineralized zone
and that intercepts have increased in grade and width at depth. The recent
discovery and growth at both Kaniago West and Mmooho confirms the Company's
exploration methods and highlights the economic potential of the Kaniago West
mineralized zone and the Kaniago gold project in general."  


A summary of the 2011 drill results are provided in the table below and include
the significant new intercepts. 




      Summary Table of Significant Intercepts at Kaniago West to date:      
                                                                            
Hole ID              From (metres) To (metres) Interval (metres) Grade (gpt)
KNRC-11-001A(i)                 19          30                11        0.81
KNRC-11-002(i)                  37          42                 5        1.96
KNRC-11-003(i)                  15          24                 9        0.94
KNRC-11-004(i)                  15          27                12        1.06
KNRC-11-005(i)                  55          85                30        0.97
  including                     56          64                 8        1.62
  including                     71          77                 6        1.79
KNRC-11-006(i)                  94         101                 7        1.46
KNRC-11-007(i)                 112         125                13        0.87
  including                    116         120                 4        1.77
KNRC-11-008(i)                  38          45                 7        1.65
KNRC-11-008(i)                  94         107                13        1.00
  including                     97         101                 4        2.34
KNRC-11-041                    123         150                27        2.97
  including                    131         147                16        4.51
KNRC-11-042                     51          62                11        0.80
KNRC-11-042                    103         114                11        0.85
KNRC-11-044                     10          26                16        1.21
  including                     16          26                10        1.46
KNRC-11-047                      1          11                10        0.90
KNRC-11-047                     74          93                19        0.59
KNRC-11-048                    117         150                33        0.87
  including                    122         129                 7        1.01
KNRC-11-048                    156         159                 3        2.54
KNRC-11-048                    171         188                17        1.83
  including                    174         188                14        2.10
KNRC-11-050                    152         164                12        0.80
KNRC-11-050                     47          55                 8        1.05
KNRC-11-051                     95         105                10        1.14
  including                    112         123                11        0.97
KNRC-11-052                     57          60                 3        6.80
KNRC-11-052                    126         137                11        0.95
  including                    127         135                 8        1.04
KNRC-11-053                     49          57                 8        0.99
                                                                            
                                                                            
(i)denotes holes previously reported in June 16, 2011 press release. These  
intercepts have been slightly modified from the previous release due to the 
application of different lower cut and dilution parameters in their         
calculation.                                                                
                                                                            
Notes:                                                                      
                                                                            
1.   All quoted intersections were drilled using reverse circulation.       
2.   All intercept widths are uncorrected due to the use of RC.             
3.   Drill results are for 1 metre interval riffle split RC samples and are 
     quoted to 2 decimal places. Results are preliminary and are subject to 
     additional QA-QC procedures.                                           
4.   Intercepts reported are all greater than 7 gram metres and are         
     constrained with a 0.5 g/t lower cut-off grade, no high cut-off grade, 
     and up to 3 metres (consecutive) of internal dilution (less than 0.5   
     g/t). Hole KNRC-11-41 had 4 metres of internal dilution. Any "included"
     intercepts were calculated using a lower cut-off 1 g/t.                
5.   Drilling was conducted towards magnetic azimuths of 135 degrees and    
     scissor holes were drilled towards 315 degrees and at inclinations of  
     55 degrees.                                                            
6.   Downhole surveys have only been performed on KNRC-11-01 to KNRC-11-053 
     using Reflex EZ-shot.                                                  
7.   Internationally recognised standard reference materials, duplicate     
     samples and blank samples were routinely inserted into the sample      
     sequence on a 10% basis. Additional QAQC is underway and these are     
     preliminary results.                                                   
8.   Laboratory sample preparation comprised of drying and jaw crushing of a
     greater than 2kg RC sample, followed by pulverising of a riffle-split  
     2kg sub-sample. Samples from holes KNRC-11-001A to KNRC-11-010 were    
     assayed at Intertek Laboratory at Tarkwa, Ghana and samples from holes 
     KNRC-11-40 to KNRC-11-053 were assayed at SGS Laboratory in Tarkwa,    
     Ghana using 50g Fire Assay with Atomic Absorption Spectrometry (AAS)   
     finish.                                                                



To view the first figure associated with this press release, please visit the
following link: http://media3.marketwire.com/docs/MEX0602fig1.pdf. 


To view the second figure associated with this press release, please visit the
following link: http://media3.marketwire.com/docs/MEX0602fig2.pdf.


To view the third figure associated with this press release, "3-D oblique view
of the Kaniago West deposit showing the 0.5, 0.7 and 1.0 gpt gold grade shells,"
please visit the following link:
http://media3.marketwire.com/docs/MEX0602fig3.pdf. 


About Midlands Minerals: 

Midlands Minerals is focused on developing a portfolio of high quality gold
exploration projects in Ghana and Tanzania, countries with exceptional histories
of gold production and home to some of the most profitable gold mines in Africa.
Midland's flagship gold property is the Sian project, site of a past producing
open pit gold mine located in the Ashanti gold belt. Sian has NI 43-101
compliant Indicated gold resources of 2.6 million tonnes grading 2.33 gpt gold
(192,400 ounces) and Inferred gold resources of 2.7 million tonnes grading 2.35
gpt gold (203,350 ounces). Extensions to these resources are open along strike
and at depth, highlighting the potential to grow the gold resource at Sian.
Midlands' Kaniago gold project is located in Ghana's Asankrangwa gold belt and
is contiguous to two past open pit gold producers: Abore to the north and Obotan
to the south. Recent drilling and exploration has produced encouraging results,
demonstrating the gold resource potential of the project. 


Midlands also holds licences for gold and diamonds in two regions in Tanzania.
The first is found in the Lake Victoria Goldfields region and includes its
advanced Itilima Gold Project, which lies within the Geita-Bulyanhulu-Sekenke
Trend, which hosts over 40 million ounces in gold reserves. The second region
lies within the Kilindi-Handeni Trend and includes the New Kilindi-Handeni
prospecting licences. 


Please note: mineral resources that are not mineral reserves do not have
demonstrated economic viability. Craig Pearman, President and CEO of Midlands,
is a "qualified person" as defined by National Instrument 43-101, and has
reviewed and approved the technical information and data included in this press
release. Additional information on Midlands can be viewed under the Company's
profile at www.sedar.com or on Midlands' website: www.midlandsminerals.com. 


This news release includes certain forward-looking statements or information.
All statements other than statements of historical fact included in this
release, including, without limitation, statements relating to the potential
mineralization and geological merits of the company's projects and other future
plans, objectives or expectations of Midlands Minerals Corp. (the "Company") are
forward-looking statements that involve various risks and uncertainties. There
can be no assurance that such statements will prove to be accurate and actual
results and future events could differ materially from those anticipated in such
statements. Important factors that could cause actual results to differ
materially from the Company's plans or expectations include risks relating to
the actual results of current exploration activities, fluctuating gold prices,
possibility of equipment breakdowns and delays, exploration cost overruns,
availability of capital and financing, general economic, market or business
conditions, regulatory changes, timeliness of government or regulatory approvals
and other risks detailed herein and from time to time in the filings made by the
Company with securities regulators. The Company expressly disclaims any
intention or obligation to update or revise any forward-looking statements
whether as a result of new information, future events or otherwise except as
otherwise required by applicable securities legislation.


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