Midnight Sun Mining Corp. 2018 Exploration Update
VANCOUVER, July 3, 2018 - Midnight Sun Mining Corp. (the "Company" or "Midnight Sun") (TSX-V: MMA) is approaching completion of its Phase One 2018 exploration program on its Zambian copper-cobalt properties, the Solwezi Group of Licences ("Solwezi Licences"). This phase of exploration was designed to further develop an understanding of the geologic controls and mineralization on the Solwezi Licenses as well as develop targets for future diamond drilling. PHASE ONE Program
Phase One of the 2018 exploration program employed a series of progressively more detailed techniques to refine the Company's comprehension of the geology and mineralization on the Solwezi Licences. Specific attention was given to the Mitu area, where copper-cobalt mineralization was confirmed by the 2017 drill program and favourable geology was established over a 17 kilometre strike length.
Phase One of the 2018 exploration program included the following:
- 1,503 metres of diamond drilling;
- 10,424 metres of air core drilling;
- 34 line kilometres of Natural Sourced Audio Magneto Tellurics ("NSAMT") ground geophysics;
- 2,684 line kilometres of Versatile Time Domain Electromagnetic airborne geophysics ("VTEM") (in progress); and,
- complete re-logging of all historic drill core and geochemical samples.
A team of geologists and data management personnel re-logged all historic drill core and plotted all soil geochemical samples from previous exploration campaigns. This data has been uploaded into the company's geological information system for collection and compilation, and together with the additional data gathered from this phase, will build an updated interpretive model to optimize future drill targets.
NSAMT ground geophysics were run over additional areas of the Mitu copper-cobalt target which were not covered by geophysical lines in the 2017 exploration program. This survey was conducted on 500 metre spacings to provide a more detailed view of the position and distribution of the favourable black shale units which host the identified copper-cobalt mineralization at Mitu.
Two air core drill rigs drilled a total of 10,424 metres to evaluate the intensity of copper-cobalt mineralisation in the conductor rocks highlighted by the NSAMT surveys. The results of this evaluation will guide diamond drill holes in Phase Two of the 2018 exploration campaign and help ensure drilling is focused on testing significant mineralised conductors.
1,503 metres of diamond drilling were completed, focusing on targets delineated by data from the 2017 exploration program. Samples have been sent to SGS in Kalulushi for assaying. All material results will be released when received by the Company.
After minor weather-related delays at a previous client, the Company's airborne geophysical contractor is now onsite and has initiated a planned 2,684 line kilometre VTEM survey, with an expected completion date to be the week of July 20th, 2018. This survey will cover the entirety of the Solwezi Licenses, providing data on all known areas of mineralization: Mitu, the 22 Zone, Dumbwa, Kifubwe, and Khaziba; as well as information on areas previously unexplored on the Solwezi Licenses.
The Company's President and Chief Executive Officer, Brett Richards, stated: "We have significantly advanced our understanding of the regional geology as a result of the activities in Phase One of our drilling campaign, and I look forward to the results over the coming weeks. As we have maintained from the beginning of our program, we intend to be methodical in our exploration approach to maximizing the size and scale of the mineralization contained within the Solwezi Licences. After taking a short period of time to collect, analyse, and interpret all of the newly generated data from Phase One; I believe the interpretation of the results will guide us systematically through the next phases of development."
Please refer to the Company's previous New Releases as well as the Company presentation on its website at: www.midnightsunmining.com.
ABOUT MIDNIGHT SUN MINING
Midnight Sun has earned a 60% interest in the Solwezi Licences with the potential to acquire the remaining 40%. The Solwezi Licences are comprised of two individual prospecting licences totalling 506 km2, situated in the North-Western Province of Zambia, adjacent to First Quantum's Kansanshi Mine; Africa's largest copper mining complex, on the prolific Zambia-Congo Copper Belt.
Led by experienced directors and talented management, Midnight Sun aims to further explore the impressive mineralization and anomalies that have recently been discovered on the Solwezi Licenses.
Midnight Sun Mining Corp. trades on the TSX Venture Exchange under the symbol MMA.
ON BEHALF OF THE BOARD OF MIDNIGHT SUN MINING CORP.
Brett A. Richards - President and Chief Executive Officer
For Further Information Contact:
Brett A. Richards
President and Chief Executive Officer
Tel: +1 905 449
Al Fabbro
Lead Director
Tel: +1 604 351 8850
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEW RELEASE.
This news release includes certain statements that may be deemed as "forward-looking statements". All statements in this release, other than statements of historical facts, the expected completion of any Offering, and the expected use of proceeds are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in the forward-looking statements include: changes in market conditions, unsuccessful exploration results, changes in the price of commodities (particularly copper, cobalt, gold and nickel), unanticipated changes in key management personnel and general social, economic or geo-political conditions. Mining exploration and development is an inherently risky business. Accordingly, the actual events may differ materially from those projected in the forward-looking statements. This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements. These and other factors should be considered carefully and readers should not place undue reliance on the Company's forward-looking statements. The Company does not undertake to update any forward–looking statement that may be from time to time by the Company or on its behalf, except in accordance with applicable securities laws.
SOURCE: Midnight Sun Mining