Midway Gold Corp. ("Midway" or the "Company") (MDW:TSX-V; MDW:NYSE-AMEX) announces that drilling in the Discovery Zone at its Tonopah Project (previously named the Midway Project), Nye County, Nevada has identified multiple high grade intercepts listed below:
- 0.4 meters of 334.9 grams per tonne (gpt) gold and 1.5 meters of 78.41 gpt gold within a zone of 45.9 meters of 7.68 gpt gold in drill hole MW11-09c
- 0.5 meters of 88 gpt gold within a zone of 47.9 meters of 2.02 gpt gold in MW11-05c
- 2.7 meters of 17.5 gpt gold within a zone of 21.6 meters of 4.83 gpt gold in MW11-07c
In addition, the drilling also encountered longer intercepts of:
- 46.6 meters of 2.67 gpt gold in MW11-08c
- 30.5 meters of 2.09 gpt gold in MW11-11c
- 52.4 meters of 1.99 gpt gold in MW11-04c
- 44.5 meters of 1.13 gpt gold in MW11-06c
Additional drill intercepts are listed in the table below.
Ken Brunk, Midway’s President and COO said, “We are pleased with the grades and length of our drill results in the Discovery Zone. Our 2011 drilling confirmed that the higher grade gold zones occur within lower grade blanket-like gold mineralization. This allows us to evaluate various mining methods including open pit or underground methods and select the best approach for the project. To avoid confusion with the company name, the Midway Project has been renamed the Tonopah Project.”The Tonopah Project is about 15 miles north of the town of Tonopah, Nevada, and Midway’s 2011 drilling program used core drilling to closely define structurally controlled mineralization which was previously only partially tested by RC drilling. Detailed core drilling was essential to identify the true width and orientation of the veins. The drill program totaled 3,970 meters of core with 1,562 meters in the Discovery zone, 902 meters in the 121 zone, 652 meters in the Dauntless zone, 609 meters in the 63-77 zone, and 245 meters in a geotechnical hole near the site of a possible future mine shaft. Drill intercepts for the Discovery Zone are reported here. Assays for the other zones remain pending.
|Discovery Zone Drill Hole Gold Intercepts, Tonopah Project, Nevada|
|Hole No.||From (m)||To (m)||Interval (m)||Gold Grade (gpt)|
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV