Midlands Minerals Corporation: Tanzania-Itilima Gold Project MMI Soil Geochemistry Results.
The technical program was designed by Marc Boisvert, P.Eng. and Pierre Lalande, P.Geo. The work was supervised by Marc Boisvert.
The program consisted of "Mobile Metal Ion" (MMI) geochemical soil sampling over an 8 km2 area of the licence as in-fill of anomalous reconnaissance results reported in our Press Release of May 18, 2005. The follow-up survey collected 443 samples including 16 field duplicates to check field and laboratory procedures. The in fill was conducted at 200m by 80m center. Samples from both surveys were prepared at the SGS laboratories in Mwanza, Tanzania and shipped to SGS Laboratories in Canada for gold plus four pathfinder elements (Co, Ni, Pb, Ag) analysis by the "Mobile Metal Ions" (MMI-B5) procedure.
Results in MMI surveys are reported as ratios of a site gold value to the value of the 25th percentile of the survey population. The 25th percentile is considered low background. Ratios above the 75th percentile are high background. Threshold is set at the 90th percentile. Anomalous results are in the 95th to 97.5th percentile range. Highly anomalous results are above the 97.5th percentile.
The follow-up survey over a 2-km x 4-km area confirms repeatability, continuity and orientation of previously detected anomalous trends.
NOTE: A map is available on CCNMatthews' website at: http://www.ccnmatthews.com/docs/mex0116.pdf
It raises the actual gold value for the low background from 0.33 to 0.88 ppb while ranges for anomalous and highly anomalous ratios are also higher. The surveyed area hosts three parallel linear anomalies with more than 2 kilometres of strike length each. One of the anomalous trends (Anomaly 1) extends the strike direction of the Itilima artisanal mining sites in both directions. Two other parallel trends (Anomaly 2 and 3) indicate potential for parallel gold-bearing horizons under transported overburden. The previous airborne geophysical survey conducted over the property indicates the center of the high background area to be a rock unit with higher iron content. It is Midlands' interpretation that the gold-bearing anomalies are surrounding an elongated mafic intrusive.
Anomaly 1 coincides with the active artisanal gold mining. MMI ratios superior to the 95th percentile indicate continuity of a gold-bearing anomaly of 4 kms in strike length from latitude 9,588,000 N to latitude 9,584,000 N.
Anomaly 2 is parallel to Anomaly 1 and is located 200 meters west of the Itilima gold diggings from between latitude 9,588,000 N and 9,585,600 N. Anomaly 2 reveals the strongest MMI gold values and ratios of both geochemical surveys and has a strike length 1.4 km.
Anomaly 3 is located 1 km west of the artisanal mine site. The anomaly has a strike length of 3 km and a lateral dispersion of 400 meters and has two high value trends, suggesting the presence of two gold-bearing units close to each other.
Midlands has considerably increased its knowledge of the Itilima property in the last year by delineating gold-bearing trends with a cumulative 9 kilometres of strike length that will be drilled once more detailed and closer MMI profiles have been carried out to optimize drill sites location.
The Itilima property is 20 km south of the Williamson Mwadui Diamond Mine (operated by De Beers). There are 82 kimberlite targets, of which nine are considered to be in the priority category. Two have been drilled and results indicate the presence of small diamonds and diamond indicator minerals. Itilima is located within a 120 kilometre radius with over 40 million oz of gold. The Company also has mineral rights in Tanzania on the New Kilindi property which is 2,700 square kilometres in size.
In Ghana, Midlands has 100% of the Kaniago gold property on the Asankrangwa Goldbelt, an 80% interest in Kwahu Praso and 70% interest in the Sian Property which has a historical resources and an open pit mine. Both Kwahu Praso and Sian are located on the Ashanti Gold Belt and both properties are surrounded by Newmont Mining Corporation. Newmont's Akyem property which reports 5 million oz of gold, and which is about 30 kilometres south of Kwahu Praso and Sian, is scheduled to commence production in 2008. Sian is a past gold producer which ceased to operate in July 2004 due to operational issues.
"The Company is well positioned for growth with its gold projects and the addition of the Sian property with its historical resource", says Kim Harris. "We are focused on implementing a drilling program on the Itilima as soon as possible and we are in a much better position to move forward now. The MMI soil surveys have confirmed encouraging results and larger drill targets have been identified".
The TSX-VN has in no way passed upon the merits of the transaction s and has neither approved nor disapproved the contents of this press release.
Midlands Minerals Corporation (TSX VENTURE:MEX)
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|Date:||Jan 16, 2006|
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