Midway Gold Corp MDW:CA announced assays of its Pan Project in White Pine County, Nevada. Highlights include 1.1 g/t gold over 81.1 metres (including 4.3 g/t over 3 metres), 0.9 g/t over 86 metres, 1.3 g/t over 24.4 metres, 0.7 g/t over 93.9 metres and 0.9 g/t over 35.1 metres (including 2.4 g/t over 7.9 metres). The Pan Project has a measured and indicated resource estimate of 682,000 ounces gold at a cut-off grade of 0.14 g/t.
President/COO Ken Brunk commented, “The results support our belief that much of the previous RC drilling and sampling significantly understated the gold grade of the known resource. This indication of a large increase in average grade will translate to improved project economics. We carefully selected these holes to represent large tonnages of the deposit. This is all excellent news.”
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Midway Gold Corp
by Ted Niles