Retransmission: Midlands Minerals Receives Significant Results from the Parlozi Project 671 g/t Silver & 20.8% Lead Over 6.0 ...
2014年5月14日 - 9:00PM
Marketwired
Retransmission: Midlands Minerals Receives Significant Results from
the Parlozi Project 671 g/t Silver and 20.8% Lead Over 6.0 Metres
TORONTO, ONTARIO--(Marketwired - May 14, 2014) - Midlands
Minerals Corporation (TSX-VENTURE:MEX) -
- Underground chip sampling provided a true width of 6.0 metres
grading 670.6 g/t silver, 20.8% lead, 0.13% zinc and 0.44 g/t gold
from the Plandiste prospect.
- A drill program scheduled to begin in May will test the
down-dip extension of this mineralized zone.
Midlands Minerals
Corporation ("Midlands" or the "Company") (TSX-VENTURE:MEX)
announces significant assay results from underground sampling at
the Plandiste prospect on its Parlozi project in Serbia which was
recently optioned from Reservoir Minerals ("Reservoir")
(TSX-VENTURE:RMC). The assay results are from a rehabilitated adit
driven into a mineralized zone on the Plandiste prospect which is
one of six currently known highly prospective target areas on the
Parlozi project. These results confirm for Midlands that the
Plandiste prospect is capable of yielding high-grade silver-lead
mineralization at relatively shallow depths. It is further notable
that this mineralization is incremental to the mineralization
validated by Reservoir at the Parlozi prospect and this reinforces
for the Company the presence of a prolific mineralization
system.
Following the
successful rehabilitation of part of the underground workings at
the Plandiste prospect by Reservoir Minerals, and funded by the
Company, chip sampling has generated significant true width
mineralized intervals as follows:
- 6.0 metres grading 670.6 g/t silver, 20.8% lead, 0.13% zinc and
0.44 g/t gold from continuous sampling across a stack of northwest
dipping veins
- Including 2.4 metres of 1355.0 g/t silver, 22.9% lead,
0.14% zinc and 0.25 g/t gold;
- 0.8 metres grading 502.0 g/t silver, 17.1% lead, 0.17% zinc and
0.10 g/t gold from the edge of a zone of mined mineralization;
- 0.5 metres grading 568.0 g/t silver, 27.0% lead, 0.14% zinc and
0.33 g/t gold from an east-west vein.
A list of the
significant results is presented in Table 1 and the corresponding
sample locations are shown in Figure 1. These results confirm the
presence of high-grade silver and lead mineralization hosted by
three sets of vein-hosting structures and by fractures along
bedding planes. Two drill holes are planned to test the down-dip
extension of the Plandiste mineralized veins as part of Phase I of
the exploration program (as announced in our press release dated
April 29, 2014).
The Plandiste
prospect is located 1.4 kilometres to the west of the historical
resource at the Parlozi prospect of 6.5 million tonnes at an
average grade of 4.1% lead, 2.1% zinc, 0.3% copper and 130 g/t
silver. This historical resource estimate was not estimated under
the guidance of National Instrument (NI) 43-101 and does not meet
the CIM definition standard for classification as mineral resources
or mineral reserves. Investors are further cautioned that a
qualified person has not yet completed, on behalf of Midlands,
sufficient work to be able to verify the historical resource
estimate, and therefore they should not be relied upon. The
historical resource estimate is only considered as relevant as a
guide to future exploration.
Systematic QA/QC
protocols are followed on the project including insertion of
duplicate, blank and standard samples in all sample batches. The
samples were submitted to ALS laboratory located in Bor, Serbia for
preparation. Assaying for gold was made at the ALS laboratory in
Romania using a standard 30 gram fire assay method with atomic
absorption finish. Sample pulps with 85% of content lower than 75
microns were analyzed at the ALS laboratory in Ireland for 51
elements using ICP-MS following digestion by Aqua Regia. Samples
with results greater than 100 g/t silver or greater than 1% lead,
zinc or copper in the ICP-MS results were re-analyzed using Aqua
Regia digestion, ICP-AES or AAS finish. Finally, samples assaying
over 20% lead were re-analyzed in Vancouver, Canada using
volumetric titration, a suitable method for the determination of
high grade lead.
Dr. Dominique
Fournier, EurGeol, a "qualified person" as defined by National
Instrument 43-101, has reviewed and approved the technical
information and data included in this press release.
Parlozi
Project:
The Parlozi Project,
the Company's flagship, is a 91 square kilometre exploration permit
which is conveniently located 35 kilometres south of Belgrade, the
capital of Serbia. The Parlozi permit covers occurrences of
historical lead-zinc-silver mining in the Kosmaj-Babe area of the
Sumadija mining district in central Serbia. The mineralization in
the permit comprises silver-bearing vein and replacement-type
lead-zinc sulphides hosted by carbonate sedimentary rocks
associated with intrusive Tertiary quartz latite dykes and volcanic
breccias. This type of mineralization has long supported
lead-zinc-silver mining operations in the region.
The Company and
Reservoir Minerals Inc. entered into an Option Agreement which
provides that Midlands can earn an initial 51% interest in the
Project by spending CDN$4.5 million on exploration over four years.
A minimum spend of CDN$500,000 before September 30, 2014, including
reimbursement of exploration expenditures on the project by
Reservoir since June 6th, 2013 and 1,500 meters of drilling, are
firm commitments. Thereafter, Midlands can earn an additional 14%
interest over two years by obtaining a mining exploitation permit
from the Serbian Government and a further 10% (for a total of 75%)
by completing a bankable feasibility study within two years of
obtaining a mining exploitation permit. Midlands has already paid
CDN$ 103,757 to Reservoir for the reimbursement of exploration
expenditures by Reservoir.
About Midlands
Minerals Corporation:
Midlands is a
Canadian resource company with common shares that trade on the TSX
Venture Exchange under the symbol "MEX". Additional information on
Midlands can be viewed under the Company's profile at www.sedar.com
or on Midlands' website www.midlandsminerals.com which is currently
under re-construction.
To view Figure 1
accompanying this press release, please visit the following link:
http://media3.marketwire.com/docs/945616.png
Sample No |
Sample type |
Sample width (m) |
True width (m) |
Pb (%) |
Zn (%) |
Cu (%) |
Ag (g/t) |
Au (g/t) |
AgEq (g/t) |
PA
105436 |
Grab |
0.1 |
0.1 |
13.15 |
0.06 |
0.02 |
548.0 |
0.46 |
920.2 |
PA
105442 |
Chip
channel |
0.5 |
0.5 |
27.03 |
0.14 |
0.05 |
568.0 |
0.33 |
1300.1 |
PA
105451 |
Grab |
|
|
6.61 |
0.25 |
0.05 |
70.6 |
0.24 |
266.8 |
PA
105452 |
Grab |
|
|
4.18 |
0.13 |
0.02 |
16.0 |
0.25 |
143.8 |
PA
80792 |
Grab |
|
|
2.86 |
0.22 |
0.02 |
38.2 |
0.15 |
128.4 |
PA
80794 |
Chip
channel |
1.0 |
0.8 |
17.10 |
0.17 |
0.04 |
502.0 |
0.10 |
961.6 |
PA
80795 |
Chip |
|
|
9.61 |
0.40 |
0.02 |
55.9 |
0.37 |
338.8 |
PA
80797 |
Chip
channel* |
1.5 |
1.2 |
3.99 |
0.26 |
0.01 |
21.1 |
0.20 |
143.3 |
PA
80798 |
Chip
channel* |
3.0 |
2.4 |
22.91 |
0.14 |
0.03 |
1355.0 |
0.25 |
1973.3 |
PA
80799 |
Chip
channel* |
3.0 |
2.4 |
27.08 |
0.04 |
0.01 |
311.0 |
0.75 |
1061.2 |
PA
81123 |
Chip |
|
|
6.56 |
0.10 |
0.12 |
42.1 |
0.18 |
236.6 |
PA
81125 |
Grab |
|
|
27.97 |
0.15 |
0.02 |
1215.0 |
0.08 |
1955.6 |
PA
81126 |
Grab |
|
|
10.30 |
0.32 |
0.01 |
173.0 |
0.06 |
453.8 |
PA
81127 |
Chip |
|
|
3.84 |
0.10 |
0.01 |
119.0 |
0.24 |
235.5 |
PA 81128 |
Chip |
|
|
4.28 |
0.13 |
0.02 |
146.0 |
0.16 |
271.4 |
* Chip channel PA 80797, PA 80798 and PA 80799 are
three continuous samples. |
Chip channel samples were collected as representative
chips along an historical channel sampling line. Results of the
historical channel sample are unknown. Chip samples were collected
by random chips in the sampling area. They are not considered as
truly representative and therefore no thickness is assigned. Grab
samples are considered unrepresentative samples. |
Silver equivalent are based on the rounded average of
each metal price over the last 5 years (2009-2013), assuming 100%
recovery: Pb $2,100/t; Zn $2,000/t; Cu $7,300/t; Ag $25.0/oz; Au
$1,350/oz. |
Table 1: Significant sample results of the underground
workings at Plandiste |
On behalf of the
Board of Directors of Midlands Minerals Corporation
Craig Pearman,
President and CEO
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 regarding
the completion of the Transaction, the receipt of regulatory
approvals, the Company's 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 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.
Midlands Minerals CorporationCraig PearmanPresident and CEO+1
604 366 2229cpearman@midlandsminerals.comMidlands Minerals
CorporationNick TintorChairman+1 416 987
0855ntintor@rgmi.caMidlands Minerals CorporationNancy
CurryCorporate Communications+1 604 220
2971ncurry@midlandsminerals.comwww.midlandsminerals.com
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