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Midway Drills 334 Gpt Gold At Tonopah Project, Nye County, Nevada

Stocks in this article: MDW

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)
MW11-01C 84.7 89.3 4.6 0.38
103.6 108.5 4.9 0.51
    130.5   133.8   3.4   0.38
MW11-02C   96.3   109.7   13.4   1.03
MW11-03C   75.9   83.5   7.6   0.45
MW11-04C 34.2 86.6 52.4 1.99
includes: 13.7 3.77
includes: 4.0 7.41
108.2 118.9 10.7 4.35
includes: 6.1 7.37
    156.4   160.3   4.0   0.79
MW11-05C 44.6 92.5 47.9 2.02
includes:           0.5   88.08
MW11-06C 59.1 64.9 5.9 1.75
69.5 114.0 44.5 1.13
    128.9   132.0   3.0   0.86
MW11-07C 62.2 83.8 21.6 4.83
includes: 7.3 8.71
includes:           2.7   17.5
MW11-08C 52.9 99.5 46.6 2.67
includes:           15.5   6.34
MW11-09C 46.6 92.7 45.9 7.68
includes: 13.7 22.90
includes: 1.5 78.41
and:           0.4   334.90
MW11-10C 40.5 57.0 16.5 0.69
63.1 80.2 17.1 3.53
includes: 14.6 4.01
    93.9   103.0   9.1   1.71
MW11-11C 39.3 69.8 30.5 2.09
includes: 3.0 7.27
includes: 3.7 5.04
    75.9   80.5   4.6   2.16

Core drilling was conducted by KB Drilling of Carson City, Nevada. Samples were assayed at ALS-Chemex Labs, in Sparks, Nevada by 30-gram fire assays. Metallic screen assays were completed by Florin Labs in Sparks, Nevada. Results reported represent thickness along the trace of the drill hole and do not necessarily represent true thickness.

This release has been reviewed and approved by Mr. William S. Neal (M.Sc. and CPG), Vice President of Geological Services, and a "Qualified Person" as that term is defined in NI 43-101.

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