VANCOUVER,
July 3, 2014 /CNW/ - Midnight Sun
Mining Corp. (the "Company" or "Midnight Sun") (TSX-V: MMA)
announces the results for the recently completed core drilling
program on the Solwezi copper property in northwest Zambia. The drill program was undertaken in
April and May 2014 and consisted of
739 metres HQ core drilled in 12 holes.
Highlights of significant, near surface copper
mineralization include the following:
- 5.71% copper over 14.2 metres, including 9.58% copper over 7.2
metres in drill hole SLZ-DD-14-010;
- 5.08% copper over 8.0 metres in drill hole SLZ-DD-14-005;
and
- 6.27% copper over 4.5 metres in drill hole SLZ-DD-14-001.
Note: The above reported lengths are intercept
lengths and not estimated true widths
The recent drill program targeted an area of the
Solwezi property located approximately 10km southwest of the
Kansanshi mine, the largest copper mine in Africa, which is operated by First Quantum
Minerals (FQM-T). This program was designed to expand the area of
high grade copper mineralization and locate primary copper
mineralization.
"These results continue to confirm the presence
of high grade, near surface, oxide copper mineralization in this
location," commented Bob Sibthorpe,
President and CEO. "The Company is actively reviewing the
information provided by these latest results to further delineate
the geological model and design a follow up exploration program to
expand the known mineralized areas and identify the source of this
high grade copper."
Copper mineralization is mainly in the form of
malachite, a mineral comprised of 57.48% copper and often
associated with acid leaching operations. An image
highlighting the area targeted by this core drill program, tables
listing full information on all drilling to date, including reverse
circulation ("RC") drilling, and location maps are available on the
Company's website at www.midnightsunmining.com.
The following table summarizes the assay results
of the recently completed 12 drill holes:
| Hole # |
From (m) |
To (m) |
Interval (m) |
True width* (m) |
Copper % |
| SLZ-DD-14-001 |
13.50 |
18.00 |
4.50 |
3.60 |
6.27 |
| SLZ-DD-14-002 |
0.00 |
13.00 |
13.00 |
10.40 |
0.06 |
| SLZ-DD-14-003 |
10.00 |
19.95 |
9.95 |
7.96 |
0.50 |
| and |
29.40 |
37.00 |
7.60 |
6.08 |
0.46 |
| SLZ-DD-14-004 |
17.35 |
17.75 |
0.40 |
0.32 |
1.40 |
| and |
43.00 |
43.90 |
0.90 |
0.72 |
0.51 |
| SLZ-DD-14-005 |
21.70 |
29.70 |
8.00 |
6.40 |
5.08 |
| SLZ-DD-14-006 |
14.0 |
24.0 |
10.0 |
8.0 |
0.08 |
| SLZ-DD-14-007 |
8.00 |
13.90 |
5.90 |
4.70 |
1.15 |
| and |
17.50 |
48.00 |
30.50 |
24.40 |
0.55 |
| including |
33.50 |
37.50 |
4.00 |
3.20 |
3.17 |
| SLZ-DD14--008 |
6.00 |
12.50 |
6.50 |
5.20 |
0.49 |
| SLZ-DD-14-009 |
12.00 |
23.60 |
11.60 |
9.28 |
0.34 |
| SLZ-DD-14-010 |
12.00 |
26.20 |
14.20 |
11.36 |
5.71 |
| including |
12.00 |
19.20 |
7.20 |
5.76 |
9.58 |
| SLZ-DD-14-011 |
24.00 |
26.60 |
2.60 |
2.08 |
0.26 |
| SLZ-DD-14-012 |
10.00 |
26.00 |
16.00 |
12.80 |
0.29 |
* True widths are estimated to be between 75-85% of
reported intervals for all core holes and were estimated by cross
sectional analysis.
All drilling was carried out by Layne Drilling
Zambia and assaying was performed by Genalysis Laboratory Services,
an accredited lab located in Australia. Minor silver values were
associated with the higher grade copper samples.
The Company's technical report, dated
July 27, 2013 on the Solwezi property
entitled "Technical Report on the Geology and Exploration Summary
of the Solwezi Group of Prospecting Licences," prepared in
accordance with National Instrument 43-101, is available on the
company's website, as well as on SEDAR at www.sedar.com.
Qualified Control/Quality Assurance: Samples
obtained during core drilling were transported directly to
Genalysis Laboratories in Chingola, Zambia by Midnight Sun personnel for sample
preparation. Samples were sorted, dried, crushed, and pulped before
being sent to Perth, Australia for
final chemical analysis using ICP-MS methods. All samples returning
>20,000 ppm Cu were automatically re-checked by Genalysis.
Genalysis is a fully accredited Laboratory and sample duplicates,
standards and blanks were inserted by Genalysis and verified by the
qualified person. All assays received from the 2013 reverse
circulation drill program in excess of 2% copper were tested for
acid solubility and these generally exceeded 95% acid soluble
copper.
Qualified Person: Warren
Robb, P.Geo, a Qualified Person under NI 43-101, has
reviewed and approved the technical data and contents of this
release.
About Midnight Sun: Midnight Sun is a mineral
exploration company with an African focus. The Company has entered
into a definitive agreement to option a 60% interest in the Solwezi
Licences in Zambia. This option
agreement is a part of an ongoing strategic alliance with Kam Chuen
Resource Holdings Ltd. Kam Chuen
holds an exclusive prospecting license portfolio of over 150
exploration permits covering over 100,000 km2 in five
African countries. Kam Chuen has
agreed to provide Midnight Sun full access to its property
portfolio, as well as first right of refusal regarding the
optioning of any of Kam Chuen's
exploration licenses, and in exchange, Midnight Sun has agreed to
offer Kam Chuen technical expertise
in the management and selection of properties.
ON BEHALF OF THE BOARD
Robert Sibthorpe B.Sc.(Geology),
M.B.A.
President & CEO
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES
PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX
VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR
ACCURACY OF THIS NEWS RELEASE.
This news release includes certain statements
that may be deemed "forward-looking statements." All statements in
this release, other than statements of historical facts, are
forward-looking statements. Although the Company believes the
expectations expressed in such forward-looking statements are based
on reasonable assumptions, such statements are not guarantees of
future performance and actual results or developments may differ
materially from those in the forward-looking statements. Factors
that could cause actual results to differ materially from those in
forward-looking statements include, changes in market conditions,
unsuccessful exploration results, changes in the price of gold,
unanticipated changes in key management personnel and general
economic conditions. Mining exploration and development is an
inherently risky business. Accordingly, the actual events may
differ materially from those projected in the forward-looking
statements. This list is not exhaustive of the factors that may
affect any of the Company's forward-looking statements. These and
other factors should be considered carefully and readers should not
place undue reliance on the Company's forward-looking statements.
The Company does not undertake to update any forward-looking
statement that may be made from time to time by the Company or on
its behalf, except in accordance with applicable securities
laws.
SOURCE Midnight Sun Mining Corp.
Image with caption: "Midnight Sun Mining Corp. (CNW
Group/Midnight Sun Mining Corp.)". Image available at:
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