Midlands Minerals Corp. (“Midlands” or the “Company”) (TSX-V:MEX; OTCQX:MDLXF) is pleased to announce the resumption of exploration drilling at its Kaniago gold project in Ghana. Two thousand meters of core drilling are planned to follow up upon recent successful exploration drilling at the Kaniago West and Mmooho targets. Drilling at Kaniago West will focus on defining controls to gold mineralization adjacent to the thick zone of gold mineralization intercepted in previously released drill hole KNRC-11-041 (27 meters grading 2.97 gpt gold, please see press release dated February 6, 2012). The drill holes will test for additional gold mineralization along strike and down dip from the gold zone cut by drill KNRC-11-041. At the Mmooho gold target, drilling is planned toexpand the target along strike and down dip whilst also providing core samples for structural analysis and investigating the presence of additional deeper parallel zones of mineralization.
The Kaniago gold project straddles the “Esaase-Kaniago West Shear Zone” which also hosts Keegan Resources’ Esaase gold deposit (4.9 million ounces) and PMI Gold Corporation’s Abore gold deposit (560,000 ounces). Both of these deposits are situated within the NE-SW-oriented “Esaase-Kaniago West Shear Zone” which hosts 5.46 million ounces of total gold resources on adjacent companies’ concessions. Midlands' initial discovery and target definition drill holes continue to emphasize the potential for a large shallow, potentially bulk-mineable gold deposit at both Mmooho and Kaniago West. Numerous additional soil gold anomalies remain untested between the Mmooho and Kaniago West gold mineralized zones and will be the subject of ongoing exploration efforts.
Craig Pearman, President and CEO of Midlands commented: "Midlands Minerals is excited to resume exploration drilling at its Kaniago gold project. The earlier good intercept in drill hole KNRC-11-041 (27 meters grading 2.97 gpt gold), suggests the presence of a robust gold system at Kaniago West. The core drilling program is designed to further expand the definition of the Mmooho and Kaniago West targets, and to provide the company with an insight to the controls to mineralization. This will assist in planning further drilling at these targets".
About Midlands Minerals:
Midlands Minerals is focused on developing a portfolio of high quality gold exploration projects in Ghana and Tanzania, countries with exceptional histories of gold production and home to some of the most profitable gold mines in Africa. Midland’s flagship gold property is the Sian project, site of a past producing open pit gold mine located in the Ashanti gold belt. Sian has NI 43-101 compliant Indicated gold resources of 2.6 million tonnes grading 2.33 gpt gold (192,400 ounces) and Inferred gold resources of 2.7 million tonnes grading 2.35 gpt gold (203,350 ounces). Extensions to these resources are open along strike and at depth, highlighting the potential to grow the gold resource at Sian. Midlands’ Kaniago gold project is located in Ghana’s Asankrangwa gold belt and is contiguous to two past open pit gold producers: Abore to the north and Obotan to the south. Recent drilling and exploration has produced encouraging results, demonstrating the gold resource potential of the project.
Midlands also holds licences for gold and diamonds in two regions in Tanzania. The first is found in the Lake Victoria Goldfields region and includes its advanced Itilima Gold Project, which lies within the Geita-Bulyanhulu-Sekenke Trend, which hosts over 40 million ounces in gold reserves. The second region lies within the Kilindi-Handeni Trend and includes the New Kilindi-Handeni prospecting licences.
Please note: mineral resources that are not mineral reserves do not have demonstrated economic viability. Craig Pearman, President and CEO of Midlands, is a “qualified person” as defined by National Instrument 43-101, and has reviewed and approved the technical information and data included in this press release. Additional information on Midlands can be viewed under the Company’s profile at www.sedar.com or on Midlands’ website: www.midlandsminerals.com.
This news release includes certain forward-looking statements or information. All statements other than statements of historical fact included in this release, including, without limitation, statements relating to the potential mineralization and geological merits of the company’s projects and other future plans, objectives or expectations of the Company are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s plans or expectations include risks relating to the actual results of current exploration activities, fluctuating gold prices, possibility of equipment breakdowns and delays, exploration cost overruns, availability of capital and financing, general economic, market or business conditions, regulatory changes, timeliness of government or regulatory approvals and other risks detailed herein and from time to time in the filings made by the Company with securities regulators. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation. Neither the TSX Venture Exchange, its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange), nor the OTCQX accepts responsibility for the adequacy or accuracy of this release.