Vancouver — Three reverse-circulation (RC) drill holes have returned mixed but encouraging results from the Dauntless gold discovery being explored by
The best hole (411) intersected 12.2 metres grading 28.25 grams gold per tonne, which includes 3 metres grading 109.61 grams, starting at a vertical depth of about 67 metres. The other two holes returned 29 metres of 0.79 gram gold, and 6.1 metres of 0.32 gram gold, respectively. The true widths of these intercepts are not yet known.
The Dauntless zone is comprised of two or three parallel quartz-adularia veins hosted in argillite. Previously released results from the zone include 53.3 metres of 11.97 grams gold.
The Dauntless zone is believed to be a potential feeder to the Discovery zone, where previous drilling is reported to have returned 30.5 metres of 18.2 grams gold.
Midway has two RC drills on-site, both testing the Dauntless discovery. The company plans to test two other similar targets during the current drill program.
Midway acquired the project in 2001, and optioned the project to
Based on a National Instrument 43-101 technical report filed in the spring of 2005, the Midway project hosts an inferred resource of 5.52 million tons grading 0.039 oz. gold (1.34 grams gold), or about 215,000 ounces contained gold in the Discovery, 121, and 63-77 zones. The technical report noted that several areas of the property warrant additional exploration.
Midway has several other projects in Nevada, including the Spring Valley project in Pershing Cty. A preliminary resource estimate is being compiled for the Pond, Porphyry and Sill zones. The independent estimate will include results from 12 new holes. Highlights from this drilling include 15.2 metres grading 4.66 grams gold and 13.7 metres of 3.36 grams from the Sill zone.
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