Midas Resources

Published : March 26th, 2008

up 50% today on update; includes news of JV w Chinese

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

 


 

 

Media Announcement
26 March 2008
 

MIDAS RESOURCES OPERATIONS UPDATE

Australian gold and base metals exploration company Midas Resources Limited (“Midas” or “the Company”; ASX: MDS) provides the following update on the Company’s exploration activities in Western Australia, Queensland and China.

Highlights:

Drill program of 80 aircore holes (total 5,808m) was completed at Lake Carey gold project in Western Australia to test Intrepid and Fortitude North targets.

Assay results available from 20 of the holes comprising 1735m of drilling have reported anomalous gold results east and west of discovery drill hole INAC043.

A Diamond drill rig is being mobilised to the Waitara Copper / Molybdenum porphyry target in Queensland to commence drilling of two initial holes for a total of 800m.

Zijin Mining Company and Midas Resources will now formalise the Joint Venture following Midas’ successful completion of due diligence on the Da Hong Shan copper porphyry system in Xinjiang Province within the Tian Shan Mineral Belt in western China.

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. 

Midas also recently announced it had signed a MoU with Zijin Mining Ltd to form a joint venture on the Da Hong Shan copper porphyry project in the Tian Shan Belt of western China.

Use this link to read the full announcement lodged on the ASX today.

For more information contact

Geoff Balfe
Managing Director / CEO
Midas Resources Ltd
Tel: +61 8 9388 2211
Fax: +61 8 9388 2600

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Data and Statistics for these countries : Australia | China | All
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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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