Midas Resources

Published : September 19th, 2007

Drilling to Commence at Bindah Gold Prospect

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Keywords :   Australia | China | Copper | Diamond | Gold | K Street | Molybdenum |

 


 

 

19 Sept 2007

Drilling to Commence at Bindah Gold Prospect

Midas Resources Limited ("Midas" or "the Company", ASX: MDS) is pleased to confirm that Diamond drilling will commence at the Bindah Gold prospect, Lake Carey, on Saturday 22 September.

Bindah Gold Prospect – Drilling program

The objective of the drilling program is to follow up the highly encouraging results from the initial RC drilling below the Bindah open pit carried out earlier in 2007.

In addition to the significant gold mineralisation intersected in the previous drilling program a very strong geophysical anomaly was detected to the northeast and below all previous drilling. The high-grade gold mineralisation intersected in BMRC007 (8m @ 10.5 g/t Au from 116m) is associated with massive sulphide mineralisation therefore the geophysical anomaly is considered to be significant as it may represent the northern down-plunge continuation of high-grade gold mineralisation.

The drill program will involve up to seven holes for a total of 1400m. BNRC 007 will be twinned with a Diamond core hole so that structural measurements can first be obtained on the gold mineralisation. This will provide information on the orientation of the mineralisation so that final adjustments can be made to the 500m deep drill hole that will test the geophysical target.

Diamond drilling is expected to be completed within three weeks and initial results available in a further two weeks.

ABOUT MIDAS

Midas Resources is a Perth based resource exploration company with gold projects in Western Australia (Lake Carey-Fortitude), Queensland and China. The Company is committed to the discovery and development of high quality gold and base metal targets at Lake Carey and at Connors Range QLD where the Company is evaluating the Waitara porphyry copper-molybdenum prospect.

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Midas Resources

EXPLORATION STAGE
CODE : MDS.AX
ISIN : AU000000MDS4
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Midas is based in Australia.

Its main exploration property is LAKE CAREY in Australia.

Midas is listed in Australia. Its market capitalisation is AU$ 975.6 millions as of today (US$ 917.2 millions, € 668.5 millions).

Its stock quote reached its highest recent level on April 09, 2010 at AU$ 880.00, and its lowest recent point on April 11, 2014 at AU$ 0.00.

Midas has 6 504 300 032 shares outstanding.

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