Gold Potential Increases With New Structural Interpretation on Sian/Praso, Ghana
Published : February 28, 2011

( 0 vote, 0/5 ) Print article
  Article Comments Comment this article Rating Follow Company  
0
Send
0
comment

TORONTO, ONTARIO--(Marketwire - Feb. 28, 2011) - Midlands Minerals Corporation ("Midlands" or the "Company") (News - Market indicators)(OTCQX:MDLXF) is pleased to announce that the potential to increase the ounces of gold on Sian has been significantly increased as a result of reinterpretation of geological structures on Sian and Kwahu Praso. 

Tom Neelands, P.Geo. and Vice President Exploration said: "The new geological model changes the focus from adding more indicated gold ounces to the current Sian gold deposit, to adding inferred ounces from other highly prospective geochemical targets south of the Sian open pit. These new ounces will be less costly to obtain and will provide a clearer picture of the potential of the property and the importance of MMI soil sampling as an exploration tool. We are now targeting two million "inferred" ounces using the new interpretation of the geochemical and geophysical data.

Sian and Praso are two highly prospective gold projects which lie in upper Birimian geology with a very strong influence of Dixcove granatoids. Together, Sian and Praso form a 160 square kilometre gold district on the north east end of the Ashanti Gold Belt.

An aggressive MMI (mobile metal ion) soil sampling program, designed to further confirm the new geological model prior to drilling the remaining 9,000 metres on Sian/Praso, has been underway since January 2011 on a number of selected targets. To this end, a Phase 1 infill MMI soil sampling survey has been completed over an area of 3 kilometres by 2 kilometres, which now provides coverage on a spacing of 100 metres by 50 metres. Previous sampling was completed at 200 metres by 50 metres, and this is considered inadequate since most of the indicated resource on Sian (322,100 ounces gold grading 1.9 g/t Au) and inferred (216,800 ounces gold grading 1.7 g/t Au) falls within a 200 metre strike-length.

"This tighter sampling grid will also address the possible existence of ENE structural controls on the mineralization that is associated with the Obuasi-Aykem ENE trend that cross-cuts the Esaase stratigraphic trend," said Tom Neelands, P.Geo. 

The map below contains the structural lineaments interpreted by Geotech Airborne Limited superimposed on a pre-existing geochemical interpretation and suggests that the ENE structural controls do exist.

Please click on the link below to view the map:
www.midlandsminerals.com/press_releases/images/Mpeyo_Map_MMI.pdf

Some wide-spaced drilling has already been completed in this area, which covers about 16 square kilometres. A map, which can be viewed on the link below, shows where some of the drilling has been completed south of the Esaase/Sian prospect. Most of the drilling was done on lines spaced 200 metres apart. "Although all holes intersected gold, there was very little follow-up to the wide intersections and mineralized structures parallel to the Esaase/Sian prospect because the Sian open pit prospect had priority," said Tom Neelands, P.Geo.

Please click on the link below to view the map:
www.midlandsminerals.com/press_releases/images/Drill_Intersections_090226.pdf

Once the Phase 1 infill soil results have been interpreted, an aggressive drill program will start in May 2011 to source the required additional inferred ounces on Sian and Praso.
"We are pleased to have a fresh interpretation of very complex geological structures on Sian/Praso," said Kim Harris, President and Chief Executive Officer.

The technical information in this news release has been reviewed by Tom Neelands, P.Geo., and a Qualified Person under National Instrument 43-101.

ABOUT MIDLANDS MINERALS

Midlands is a growth oriented and value based gold exploration company operating in Ghana and Tanzania, two stable countries with a history of gold mining. Midlands' top priority project is the fully permitted Sian gold project in Ghana. The Sian property contains Esaase and Ampeha, two previously producing open pit mines with a resource with significant growth potential. Midlands' contiguous Kwahu Praso project, which was once part of Sian, contains extensions of the Esaase and Ampeha trends. Sian and Praso are just 30 kilometres northeast of Newmont Mining's +8.7 million-ounce Akyem gold deposit. 

Midlands' second priority project in Ghana is the highly prospective Kaniago gold project, which is located on the Asankrangwa Gold Belt and is contiguous to two past open pit gold producers – Abore to the north and Obotan to the south.

Midlands also holds highly prospective licences for gold and diamonds in the Lake Victoria Goldfields in Tanzania, including its advanced Itilima Gold Project, which lies within the Geita-Bulyanhulu-Sekenke Trend, which is host to over 40 million ounces in gold reserves, and has now added to its Tanzania portfolio with the acquisition of the New Kilindi-Handeni prospecting licences.

The Company has a highly qualified management and technical team with broad African experience and extensive experience in the countries in which the Company operates. For more information on the Company, please visit Midlands' website at www.midlandsminerals.com.

On behalf of the Board

Kim Harris, President and Chief Executive Officer

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 that may be referred to in this press release are conceptual in nature. There has been sufficient exploration to evaluate a mineral resource. However, the Company is uncertain if further exploration will result in a mineral reserve. 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. For more information, investors should review the Company's filings that are available at www.sedar.com.

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

For more information, please contact

Midlands Minerals Corporation
Kim Harris
President and CEO
CEO Direct Line: + 1 416 447 6882 or + 1 416 492 6992
or
Midlands Minerals Corporation
1210 Sheppard Avenue East, Suite 302
Toronto, Canada M2K 1E3
+ 1 416 492 6993 (FAX)
info@midlandsminerals.com
www.midlandsminerals.com
Data and Statistics for these countries : Canada | Ghana | Tanzania | All
Gold and Silver Prices for these countries : Canada | Ghana | Tanzania | All

Midlands Minerals Corporation

EXPLORATION STAGE
CODE : MEX.V
ISIN : CA59780W1014
Follow and Invest
Add to watch list Add to your portfolio Add or edit a note
Add Alert Add to Watchlists Add to Portfolio Add Note
ProfileMarket
Indicators
VALUE :
Projects & res.
Press
releases
Annual
report
RISK :
Asset profile
Contact Cpy

Midlands Min. is a gold exploration company based in Canada.

Midlands Min. holds various exploration projects in Ghana.

Its main exploration properties are ITILIMA in Tanzania and KANIAGO, KWAHU PRASO and SIAN in Ghana.

Your feedback is appreciated, please leave a comment or rate this article.
Rate : Average note :0 (0 vote) View Top rated
 
Corporate Presentations of Midlands Minerals Corporation
10/15/2007Featured in the October 19, 2007 Edition of the Investor's D...
Financings of Midlands Minerals Corporation
5/28/2007Announces up to $2.4 Million Private Placement to Accelerate...
Project news of Midlands Minerals Corporation
7/24/2015Midlands Minerals Corporation completes acquisition of Alder...
3/25/2015Asanko Initiates Near-mine Exploration Program
10/30/2014Midlands Minerals announces further high-grade silver interc...
6/13/2011(Sian)to Resume Drilling on Sian-Praso Following New MMI Geochemic...
5/2/2011(Kaniago)Kaniago Discovery Hole KNRC-001A Returns Positive Drill Resu...
3/7/2011(Kaniago)Drilling for Gold on Midlands' Kaniago Commences in Ghana, W...
2/20/2008(Sian)Reports New Resource Estimate Expected on Sian - Ghana
2/4/2008(Kaniago)Confirms Kaniago Soil Zones are on Direct Strike with Signif...
1/9/2008(Sian) Reports Two Significant Gold Structures 1.5km Southwest of ...
12/14/2007(Sian) Follow up Drill Results Confirm New Zones At Sian - Ghana
11/27/2007Intersects 23 Meters Grading 2.5 g/t at Depth on Sian - Ghan...
10/29/2007(Kaniago)Announces Drill Results Indicate Esaase Gold Deposit is part...
10/11/2007Intersects Akyem Type Carbonate-Silica Mineralization and Po...
7/24/2007Hole # 5 Intersects 3 Significant Gold Intervals Distributed...
6/11/2007INTERSECTS NEW PREVIOUSLY UNKNOWN GOLD ZONE EAST OF ESAASE P...
Corporate news of Midlands Minerals Corporation
9/10/2015Rosita Mining Commences 2,500 Metre Drill Program, Nicaragua
8/18/2015Midlands Minerals Corporation Completes Acquisition Of Alder...
8/18/2015Midlands Minerals Corporation provides update on business co...
7/24/2015IIROC Trading Halt - MEX; ALR
7/20/2015Midlands Minerals Corporation Provides Update on Business Co...
4/23/2015Midlands Minerals announces withdrawal from Parlozi option a...
2/11/2015Midlands Minerals Sells Kaniago Gold Project to Asanko Gold
11/17/2014Midlands Minerals Corporation Appoints New Member to the Boa...
10/30/2014Midlands Minerals Announces Further High-Grade Silver Interc...
9/3/2014Midlands Minerals Drills High-Grade Polymetallic Mineralizat...
5/30/2014Midlands Minerals Starts Drilling on the Parlozi Project
5/15/2014Midlands Minerals Appoints Nancy Curry To Provide Investor R...
5/14/2014Retransmission: Midlands Minerals Receives Significant Resul...
5/13/2014Midlands Minerals Receives Significant Results from the Parl...
4/29/2014Midlands Minerals Announces the Parlozi Zinc-Lead-Silver Pro...
4/24/2014Midlands Minerals receives TSXV approval for Parlozi
4/7/2014Midlands Minerals Enters Into a Definitive Agreement to Opti...
8/28/2013Receives $3.4 Million and Reviews Strategy
7/31/2013(Sian)Obtains Shareholder Approval for the Sale of Shares of Akrom...
6/21/2013(Sian)Enters into Share Purchase Agreement to Sell Shares of Akrom...
6/4/2013(Sian)Agrees to Sell Shares of Akroma Gold Company to JV Partner S...
11/5/2012(Sian)Continues Negotiations with Sian JV Partners
2/28/2011(Sian)Gold Potential Increases With New Structural Interpretation ...
2/21/2008Interview With Wall Street Reporter
11/16/2007Drilling Extends Esaase Zone 400 Meters North and 200 Meters...
11/8/2007Reports Exploration Update on Sian - Ghana
10/16/2007Announces New Gold Zone Grading 2.77 G/T Over 3 M, 940 Meter...
10/12/2007Toronto Resource Investment Conference
9/12/2007Announces Commencement of Second Half of Drilling on Sian - ...
9/5/2007Announces Gold Zone Extends North and at Depth at Midpoint o...
8/9/2007Expands Gold Zone Southwest of Esaase Pit on Sian-Ghana
6/28/2007Announces the Emergence of a Gold Bearing Structure Parallel...
6/22/2007Announces Initial Research Coverage by Haywood Securities in...
6/21/2007Extends Mineralization to Vertical Depth of 220m and Reports...
Comments closed
 
Latest comment posted for this article
Be the first to comment
Add your comment
TSX-V (MEX.V)
0.125-7.41%
TSX-V
CA$ 0.125
04/12 10:43 -0.010
-7.41%
Prev close Open
0.135 0.125
Low High
0.125 0.125
Year l/h YTD var.
0.060 -  0.135 56.25%
52 week l/h 52 week var.
0.060 -  0.135 13.64%
Volume 1 month var.
2,180 38.89%
24hGold TrendPower© : -5
Produces
Develops
Explores for Diamonds - Gold
 
 
 
Analyse
Interactive chart Add to compare
Interactive
chart
Print Compare Export
Last updated on : 1/6/2010
You must be logged in to use the porfolio and watchlists (free)
Top Newsreleases
MOST READ
Annual variation
DateVariationHighLow
202466.67%
2023275.00%0.140.01
2022-42.86%0.060.02
2021-73.08%0.150.04
202030.00%0.170.03
 
5 years chart
 
3 months chart
 
3 months volume chart
 
 
Mining Company News
Plymouth Minerals LTDPLH.AX
Plymouth Minerals Intersects Further High Grade Potash in Drilling at Banio Potash Project - Plannin
AU$ 0.12-8.00%Trend Power :
Santos(Ngas-Oil)STO.AX
announces expected non-cash impairment
AU$ 7.73-1.90%Trend Power :
Oceana Gold(Au)OGC.AX
RELEASES NEW TECHNICAL REPORT FOR THE HAILE GOLD MINE
AU$ 2.20+0.00%Trend Power :
Western Areas NL(Au-Ni-Pl)WSA.AX
Advance Notice - Full Year Results Conference Call
AU$ 3.86+0.00%Trend Power :
Canadian Zinc(Ag-Au-Cu)CZN.TO
Reports Financial Results for Q2 and Provides Project Updates
CA$ 0.12+4.55%Trend Power :
Stornoway Diamond(Gems-Au-Ur)SWY.TO
Second Quarter Results
CA$ 0.02+100.00%Trend Power :
McEwen Mining(Cu-Le-Zn)MUX
TO ACQUIRE BLACK FOX FROM PRIMERO=C2=A0
US$ 10.94-2.84%Trend Power :
Rentech(Coal-Ngas)RTK
Rentech Announces Results for Second Quarter 2017
US$ 0.20-12.28%Trend Power :
KEFIKEFI.L
Reduced Funding Requirement
GBX 0.57-1.39%Trend Power :
Lupaka Gold Corp.LPK.V
Lupaka Gold Receives First Tranche Under Amended Invicta Financing Agreement
CA$ 0.06+0.00%Trend Power :
Imperial(Ag-Au-Cu)III.TO
Closes Bridge Loan Financing
CA$ 2.45-1.61%Trend Power :
Guyana Goldfields(Cu-Zn-Pa)GUY.TO
Reports Second Quarter 2017 Results and Maintains Production Guidance
CA$ 1.84+0.00%Trend Power :
Lundin Mining(Ag-Au-Cu)LUN.TO
d Share Capital and Voting Rights for Lundin Mining
CA$ 15.06-2.27%Trend Power :
Canarc Res.(Au)CCM.TO
Canarc Reports High Grade Gold in Surface Rock Samples at Fondaway Canyon, Nevada
CA$ 0.24-2.08%Trend Power :
Havilah(Cu-Le-Zn)HAV.AX
Q A April 2017 Quarterly Report
AU$ 0.20-2.38%Trend Power :
Uranium Res.(Ur)URRE
Commences Lithium Exploration Drilling at the Columbus Basin Project
US$ 6.80-2.86%Trend Power :
Platinum Group Metals(Au-Cu-Gems)PTM.TO
Platinum Group Metals Ltd. Operational and Strategic Process ...
CA$ 1.69-2.03%Trend Power :
Devon Energy(Ngas-Oil)DVN
Announces $340 Million of Non-Core Asset Sales
US$ 51.98-1.32%Trend Power :
Precision Drilling(Oil)PD-UN.TO
Announces 2017Second Quarter Financial Results
CA$ 8.66-0.35%Trend Power :
Terramin(Ag-Au-Cu)TZN.AX
2nd Quarter Report
AU$ 0.03+3.03%Trend Power :