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Midas Gold Corp.
Summary
| Project: | Stibnite Gold Project | |
|---|---|---|
| Deposit: | Stibnite Gold Project | |
| Location: | United States | |
| Commodities: | Gold-Silver-Antimony | |
| Date: | 1/23/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 23-1-2017: Midas Gold Corp. announces an Exploration/Drilling Update report for its Stibnite Gold Project deposit at the Stibnite Gold Project project. Drilling results incl. 122.5m @ 2.21g/t Au, 9.0g/t Ag, 0.46% Sb. Midas Gold Corp. (MAX:TSX / MDRPF:OTCQ | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Stephen Quin (Internal) | |
| ABSTRACT: | Midas Gold Corp. (MAX:TSX / MDRPF:OTCQX) today announced that it has resumed its resource optimization drill program at the Stibnite Gold Project, Idaho. In addition, Midas Gold reported results from holes completed in late 2016 as part of this program, which has the goal of improving, expanding and de-risking the mineral resources defined in the December 2014 preliminary feasibility study (“PFS”) before commencing a feasibility study (“FS”); all three of these goals were achieved with these latest results. Assay results have been received for two drill holes completed at the southern end of the Yellow Pine deposit and a third drill hole completed in the central portion of the same deposit. Highlights of the drill holes are tabulated below, while complete results are attached at the end of the press release. “These latest drill results realized all three of Midas Gold’s goals for its resource enhancement drill program at the Stibnite Gold Project: expanding the mineral resource, improving confidence in the geological model, and improving margin by identifying higher grade material within the proposed pit limits,” said Stephen Quin, President & CEO of Midas Gold Corp. “Hole MGI-16-415 successfully extended the limits of known high-grade gold-antimony mineralization over 50m to the south, in an area within the limits of the 2014 PFS mineral reserve pit limits, but which had been treated as development rock in the PFS. Hole MGI-16-417 generally verified the mineral resource and provided important structural constraints on mineralization.” Drilling in 2017, which recently commenced, will be focused on the Yellow Pine deposit, initially following up on encouraging results from MGI-16-414 and MGI-16-417. Additional shallow inclination drill holes are planned to Page 2 of 7 obtain additional data beneath the historical pit lake and to improve understanding of geological controls on highgrade gold and antimony mineralization. | |
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