Midway expands drill plan in Nevada

Midway Gold (MDW-V) (formerly Red Emerald Resources) has cut some more encouraging intervals of gold mineralization at its namesake project in Nevada.

Recent reverse circulation (RC) drilling on the 121 zone cut multiple zones of quartz vein material. Hole MW241 was highlighted by 12 metres (from 148 metres below surface) grading 4.24 grams gold per tonne, including 1.5 metres (from 151 m) of 27.7 grams, and 7.6 metres (from 184.5 m) running 7.6 grams gold.

Better intervals from hole MW243 include a 10.7-metre (from 186 m) section averaging 19 grams gold, including 6.1 metres (from 187.6 m) of 32.4 grams.

Midway believes that the 121 zone may be an extension of the Discovery zone about 107 metres to the southeast.

On the discovery zone, recent core drilling is highlighted by a 0.9-metre section (from 75.2 m) running 38.7 grams gold in hole MW226. The interval is included in a longer 25.7-metre interval (from 52 m) grading 4.5 grams gold. The best gold values are hosted by volcanics near the Palmetto sedimentary contact. Two other holes generally returned between 1.5 and 18 grams gold over widths ranging from 1.5-35 metres.

Shallower RC drilling on the discovery zone returned 1.5-and-3-metre intervals running about 1 to 3 grams gold.

Four RC step-out holes about 60 to 90 metres to the southwest of the Discover zone returned weak gold mineralization with local 1.5-to-4.5-metre intervals of 1-3 grams gold.

Two recent shallow core holes collared on a fence northeast of the main Discovery zone yielded about 1 to 4 grams gold over widths from 5 to 40 metres. Midway says the results confirm the continuity of gold mineralization within a stratiform zone of siliceous rhyolite volcanics lying immediately above the Palmetto sediments.

Encouranged by the results, Midway has accelerated and expanded to about 4,600 metres its 2,500-metre core drilling program. A third diamond drill is on its way to the property.

Gold mineralization at Midway is found in Tertiary volcanic and volcaniclastic rocks and mostly in the chert and shale of the Ordovician Palmetto formatio, all buried under Quaternary gravel cover. The mineral system is considered a low-sulphidation epithermal deposit.

The company continues to work on a preliminary resource and scoping study.

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