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MMA Midnight Sun Mining Corp

0.39
-0.01 (-2.50%)
28 Jun 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Midnight Sun Mining Corp TSXV:MMA TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.01 -2.50% 0.39 0.39 0.40 0.40 0.39 0.40 22,550 20:59:49

Midnight Sun Mining Corp. Initiates Drilling at Solwezi

14/11/2013 3:36pm

Marketwired Canada


Midnight Sun Mining Corp. (the "Company" or "Midnight Sun") (TSX VENTURE:MMA)
announces the commencement of drilling on the Solwezi copper property in
northwest Zambia. The initial drill program is contracted for 3,000 meters of
reverse circulation drilling ("RC") and will test several targets identified by
previous operators. All targets are within 10 km of the Kansanshi mine, the
largest copper mine in Africa, which is operated by First Quantum Minerals
(FQM-T). 


Solwezi Northwest: in late 2012, a previous operator reportedly intercepted 8.3%
copper in a core drill hole from 19-38 meters below surface. Core recoveries
were poor due to deep weathering of the rock. Re-sampling of this core as a part
of the Company's recently filed NI 43-101 compliant report entitled "Technical
Report on the Geology and Exploration Summary of the Solwezi Group of
Prospecting Licences" (available on the company's website here) confirmed high
grade copper in the core. The current drill program will attempt to validate
this historic drill intercept and test the surrounding area for additional zones
and continuity of mineralization. Soil sampling conducted by Midnight Sun in
October 2013 expanded the anomalous area around the discovery hole and
delineated additional copper anomalies several kilometers to the south. 


At Solwezi Northwest a recently completed geophysical survey using an
electromagnetic system (NSAMT), which has been employed successfully at the
Kansanshi Mine, indicated the presence of conductive horizons underlying the
drill and soil geochemical anomalies found to date. 


Kifubwa Copper-Nickel Anomalies: in 2010, a previous operator outlined
significant nickel and copper soil anomalies overlying the favourable Upper and
Lower Roan Formations which host numerous deposits in the Zambian Copperbelt
including the new. These anomalies will be drill tested as part of the current
drill program. 


All drilling will be carried out by Layne Drilling, a world leader in RC
drilling, and assaying will be done by Genalysis Laboratory Services, an
accredited lab located in South Africa. 


Qualified Person: Adrian Karolko, P.Geo, a Qualified Person under NI 43-101, has
reviewed and approved the contents of this release. 


About Midnight Sun: Midnight Sun is a mineral exploration company with an
African focus. On May 9, 2013 the Company announced it had signed a letter of
intent to option a 60% interest in the Solweizi Licences. This Option Agreement
is a part of an ongoing strategic alliance with Kam Chuen Resource Holdings Ltd
("Kam Chuen"). Kam Chuen holds an exclusive prospecting license portfolio of
over 150 exploration permits covering over 100,000 km2 in five African
countries. As a result of this Strategic Alliance, Kam Chuen has agreed to
provide Midnight Sun with full access to its portfolio, as well as first right
of refusal regarding the optioning of any of Kam Chuen's exploration permits. In
exchange, Midnight Sun has agreed to offer Kam Chuen technical expertise in the
management and selection of properties.


ON BEHALF OF THE BOARD 

Robert Sibthorpe, B.Sc.(Geology), M.B.A., President & CEO

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT
TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.  


This news release includes certain statements that may be deemed
"forward-looking statements." All statements in this release, other than
statements of historical facts, are forward-looking statements. Although the
Company believes the expectations expressed in such forward-looking statements
are based on reasonable assumptions, such statements are not guarantees of
future performance and actual results or developments may differ materially from
those in the forward-looking statements. Factors that could cause actual results
to differ materially from those in forward-looking statements include, changes
in market conditions, unsuccessful exploration results, changes in the price of
gold, unanticipated changes in key management personnel and general economic
conditions. Mining exploration and development is an inherently risky business.
Accordingly the actual events may differ materially from those projected in the
forward-looking statements. This list is not exhaustive of the factors that may
affect any of the Company's forward-looking statements. These and other factors
should be considered carefully and readers should not place undue reliance on
the Company's forward-looking statements. The Company does not undertake to
update any forward-looking statement that may be made from time to time by the
Company or on its behalf, except in accordance with applicable securities laws.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Midnight Sun Mining Corp.
Al Fabbro
Director
604-351-8850

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