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MEX Mexican Gold Mining Corp

0.085
0.00 (0.00%)
16 Jul 2024 - Closed
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 12:01:06

Midlands Minerals Follow Up Drill Results Confirm New Zones at Sian-Ghana

13/12/2007 1:30pm

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Mexican Gold Mining (TSXV:MEX)
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TORONTO, ONTARIO (TSX VENTURE: MEX) is pleased to report results from RC holes 29 and 30 on Sian (Ghana) confirm the extension of the gold zone which was discovered by RC hole 02 as reported in the Company's news release of June 11, 2007. Hole RC 02 was drilled in the first part of the drill program in April-May 2007. Holes RC 29 and RC 30 are follow-up holes which were located on either side of hole RC 02 to provide the orientation and to test for continuity of the gold structure.

The Company is pleased to report that:

- RC drill results to date show the existence of a significant new gold zone between Esaase and Esaase East measuring at least 400 meters in strike length;

- RC holes 29 and 30 were drilled 50 meters on either side of RC 02 and assay results have confirmed gold grade continuity (1.71 g/t over 7 meters, 1.34 g/t over 7 meters);

- Diamond drill holes 16, 17 and 18 were testing the Esaase deposit at depth. Assays from these holes have outlined another gold zone which is connected to RC 02, RC 29 and RC 30;

- RC 23 and RC 25 which are located 579 meters south of RC 29 are interpreted as the south extension of the new zone.

Please click here for map link

www.midlandsminerals.com/press_releases/images/Drill_Intersection_12_07.pdf

Three zones (Esaase deposit, the HW Zone, the Esaase East gold showing) together with the interval holes RC 23 and RC 25, outline a gold trend 200 meters wide by 1.6 kilometres in strike length. The continuity of the zone from RC hole 02 has been confirmed by holes RC 29 and RC 30 and the Company's interpretation is that this zone is connected to a gold zone located in the hanging wall (HW zone) of the Esaase deposit which was intersected by diamond holes 16, 17 and 18. The Company's interpretation is that the RC 02-RC 29-RC 30 zone and the HW Zone are part of the same mineral zone. This gold zone connects the Esaase East gold showing to the Esaase deposit.

Sian is a fully permitted past open pit gold producer located on the Ashanti Gold belt, 30 kilometres northeast of Newmont Mining's 8+ million ounce Akyem gold deposit. The Sian gold mineralization type is a silica-carbonate alteration with disseminated pyrite similar to that found at Newmont's Akyem gold deposit. Sian produced gold between 2001 and 2004 with a mineral recovery of 91%.

The following is a summary of intersections:

Grade gold zones (cut off of 0.5 g/t Au) and anomalous gold zones (cut off of 0.1 g/t Au)


RC 029   1.71 g/t Au over 7.0 meters              Grade Zone
          from 5.0 m to 12.0 m
         0.19 g/t Au over 29.0 meters             Anomalous zone
          from 64.0m to 81.0 m
         0.19 g/t Au over 17.0 meters from        Anomalous zone
          86.0 m to 103 m

RC 002   1.50 g/t Au over 5.0 meters              Grade Zone
          from 63.0 m to 68.0 m

RC 030   1.34 g/t Au over 7.0 meters from         Grade Zone
          76.0 m to 83.0 m
         0.37 g/t Au over 39.0 meters from        Anomalous Zone
          72.0 m to 111.0 m

MEDD 016 2.67 g/t Au over 7.0 meters from         HW zone
          127.0 m to 134.0 m
         2.96 g/t Au over 7.0 meters from         Esaase zone
          238.0 m to 245.0 m

MEDD 017 2.63 g/t Au over 1 meter from            Grade HW Zone
          45.0 m to 46.0 m
         0.53 g/t Au over 7 meters from           Anomalous HW Zone
          39.0 m to 46.0 m

         0.86 g/t Au over 2 meters from           Grade HW Zone
          149.0 m to 153 m
         0.37 g/t Au over 7 meters from           Anomalous Zone
          146.0 m to 153 m

MEDD 018 0.78 g/t Au over 3.6 meters from         Grade HW zone
          19.4 m to 23.0 m
         0.54 g/t Au over 30 meters from          Grade HW zone
          126.5 to 156.5 m

RC 025   1.35 g/t Au over 2 meters from           Grade Zone
          100.0 m to 102.0 m
         0.20 g/t Au over 32 meters from          Anomalous Zone
          82.0 m to 114.0 m

RC 023   7.42 g/t Au over 1 meter from            Grade Zone
          126.0 m to 127.0 m
         0.535 g/t Au over 17 meters from         Anomalous Zone
          112.0 m to 129.0 m

MEDD 016, MEDD 017 and MEDD 018 are the diamond core drill holes testing the Esaase deposit's south extensions and depth extensions. At the beginning of each hole, gold grade zones were intersected, indicating a parallel gold zone in the hanging wall (HW zone) of the Esaase deposit. RC hole 30 is located between RC hole 02 and diamond drill hole MEDD 016 connecting the assay intervals of the RC 02 gold zone with the MEDD 016 HW zone. The Company's interpretation is that the HW zone extends from diamond drill hole MEDD 18 at the north extremity to RC hole 29 at the south extremity, representing a strike length of 372 meters defined by 6 drill sections with spacing at less than 100 meters.

Holes RC 23 and RC 25 are part of scout fence RC drilling oriented East-West, testing a soil anomaly 325 meters south of the Esaase East gold showing and 570 meters south of RC 29. There is the possibility (yet to be tested) that the gold intervals in RC 23 and RC 25 could be the south extension of the HW zone-Esaase East gold bearing structure. This structure forms a drill target 1 kilometre in strike length for future exploration work between diamond hole MEDD 18 and RC hole 25. The entire Esaase deposit-HW Zone-Esaase East gold system extends from RC hole 33 located at latitude N 726800m to RC hole 25 at latitude N 725400m, forming a strike length of 1.6 kilometres.

RC Samples were taken at 1 meter intervals under dry drilling conditions by RSG Global, Inc. ("RSG") utilizing drilling and sampling techniques widely accepted in RC drilling programs. RSG is an international geological consulting company with offices in Ghana, South Africa and Australia. Core samples were generally taken at 1 meter intervals with exceptions varying from 0.3 to 1.5 meters due to the particular rock type. Sampling was done utilizing a core saw to split the core in two parts, sending one half to the laboratory and keeping the other half as witness core. All core drill samples were described and sampled at the property field core shack facilities.

Grade zone intercepts shown above were calculated using a minimum of a 0.5 g/t cut-off at the beginning and end of the intercept and allowing for no more than 3 consecutive samples (three meters) of less than 0.5 g/t Au. Anomalous zones are calculated using a cut-off grade of 0.1 g/t Au.

All samples were weighed on site and sent to the SGS Laboratory in Tarkwa, Ghana, where they were assayed using standard 50 gram fire assay with atomic absorption finish. QA/QC programs were in place using blanks and external standard samples.

All RC drill intercept widths are apparent widths. All diamond drill holes were drilled in direction at an angle of 90degrees with the deposit trend. The dip of the holes was planned to intersect at a specific vertical depth. The dip of the deposit varies between 70 to 80 degrees. It is expected to have a true width between 60 to 70% of the reported intervals.

Together with the contiguous Praso gold property, Midlands controls 160 square kilometres of a prime gold exploration district delineated by a 16 kilometre corridor with large soil gold anomalies providing excellent potential for the discovery of several gold deposits on this property on the Ashanti Gold Belt. Midlands also has highly prospective gold and diamond properties in the Lake Victoria Goldfields in Tanzania.

Midlands Minerals is one of 30 companies covered in the Haywood Securities Junior Exploration Index. The Haywood Junior Explorer Index ("HJEI") tracks the performance of the group of junior exploration companies relative to the market. The HJEI is a bi- monthly publication by Haywood Securities Inc. Midlands Minerals Corporation is also covered by e-Research and Objective Capital Limited (UK) and all research reports and updates are available on the Company's Web Site at www.midlandsminerals.com.

The scientific and technical information contained in this press release has been reviewed by Marc Boisvert, P.Eng., Vice President Exploration who is a Qualified Person within the meaning of National Instrument 43-101.

Certain statements contained in this news release constitute forward-looking statements. Such forward-looking statements involve a number of known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of the company to be materially different from actual results and achievements expressed or implied by such forward-looking statements.

Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management's current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect.

The Company adds a cautionary statement to the effect that the potential quantity and grades referred to in this press release are conceptual in nature and there has been insufficient exploration to define a mineral resource. Further, the Company is uncertain if further exploration will result in discovery of a mineral resource. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statements were made. Readers are also advised to consider such forward looking statements while considering the risks inherent in the business of mineral exploration.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.

Contacts: Midlands Minerals Corporation Kim Harris President and CEO (416) 492-6992 or CEO Direct Line: (416) 447-6882 (416) 492-6993 (FAX) Email: info@midlandsminerals.com Website: www.midlandsminerals.com

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