Mr. Craig Pearman reports
MIDLANDS MINERALS RELEASES DRILLING RESULTS AND PLAN FOR NEXT PHASES AT KANIAGO
Midlands Minerals Corp. has released the results of a 1,995-metre diamond drilling program completed on March 8 at the Kaniago West and Mmooho targets on its Kaniago gold project in Ghana.
Drilling at the Mmooho gold target aimed at expanding the target along strike and downdip whilst also providing core samples for structural analysis and investigating the presence of additional deeper parallel zones of mineralization. Drill holes KNDD-12-001, KNDD-12-002 and KNDD-12-003A totalling 1,289 metres confirmed the presence at depth and on strike of gold mineralization above 0.5 gram per tonne gold with a best composite of 3.8 metres grading 4.86 g/t gold at a depth of 95.6 meters in KNDD-12-002. The drilling provided the expected structural control but did not enhance grades or thicknesses compared with the 2011 reverse circulation drill program.
Drilling at the Kaniago West gold target focused on defining controls to gold mineralization adjacent to the thick zone of gold mineralization intercepted in previously released drill hole KNRC-11-041 (27 metres grading 2.97 g/t gold -- please see press release dated Feb. 6, 2012). Drill holes KNDD-12-004 and KNDD-12-005 totalling 606.7 metres confirmed the presence at depth and on strike of gold mineralization above 0.5 g/t gold with a best composite of 7.0 metres grading 1.75 g/t gold at a drill depth of 165.5 metres in KNDD-12-005. The drilling provided the expected structural control but as at Mmooho it did not enhance grades or thicknesses compared with the 2011 RC drill program.
A recent reinterpretation of soil geochemical results has further enhanced the gold anomalous trends. The north-northeast-trending Esaase-Kaniago West soil geochemical trend extends north-northeast to Keegan Resources' Esaase gold deposit (measured and indicated resources of 98.7 million tonnes at an average grade of 1.1 g/t for 3.64 million ounces gold) and PMI Gold Corp.'s Abore gold deposit (measured and indicated resources of 6.03 million tonnes at an average grade of 1.6 g/t for 310,000 ounces gold) on the adjacent concessions. The Kaniago West and Mmooho prospects are located on this trend.
Parallel to this trend, two further trends are known to extend on adjacent companies' concessions and host significant gold deposits:
-
The Besease-Adubiaso NNE trend hosts PMI Gold's Adubiaso
gold deposit (measured and indicated resources of 4.17 million tonnes at
an average grade of 2.59 g/t for 350,000 ounces gold) immediately
south of the Kaniago concession;
- The Kampese-Nkran-Asuadai NNE trend hosts PMI Gold's Nkran
gold deposit (measured and indicated resources of 32.15 million tonnes
at an average grade of 2.28 g/t for 2.35 million ounces gold) and
Asuadai gold deposit (measured and indicated resources of 2.44 million
tonnes at an average grade of 1.28 g/t for 100,000 ounces gold).
Midlands' next phase of work on the Kaniago concession will focus on expanding the potential for large shallow, potentially bulk-minable gold deposits associated with north-northeast shear zones along the soil geochemical trends by testing them with systematic fences of air core drilling spaced 500 metres to 800 metres across the trends. Air core holes will be drilled at negative 50 degrees to refusal, usually the limit of fresh rock. The collar of the following hole on the fence will be located vertically above the last sample of the last drilled hole in order to cover all the target area with drill information.
Additionally, the company announced that it has granted an option to acquire an aggregate of 1.5 million common shares to the vice-president, exploration, of the company under Midlands Minerals' stock option plan. The option granted to the officer is exercisable for a five-year period to acquire one common share at a price of 10 cents per share and vests on an annual schedule over a period of three years.
Dr. Dominique Fournier, EurGeol, a qualified person as defined by National Instrument 43-101, 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 on SEDAR or on Midlands' website.
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