AUSTRALIA
MDS.AX
0,15 AU$
0,00%
First Quarter Quarterly Activities Report
Publié le 09 octobre 2007
MIDAS RESOURCES FIRST QUARTER ACTIVITIES STATEMENT
HIGHLIGHTS
¨ Following an update of the Fortitude Resource at Lake Carey and a Pit Optimisation study based on trucking to the Barrick Granny Smith treatment plant it has been decided to revert to a “stand-alone” gold mining and
treatment model due to the high fixed costs associated with long distance trucking and treatment.
¨ The Company is, however, continuing discussions with Barrick Gold of Australia to determine if there is a lower cost alternative to the long distance trucking and treatment model.
¨ The Company commenced diamond drilling at the Bindah gold prospect at Lake Carey in September; seven holes totalling 1500m are planned to test a high-grade target. The objective
is to increase the Resource base at Lake Carey to a level that will justify construction of an onsite treatment facility.
¨ Results for the detailed re-sampling on one metre intervals of the Intrepid aircore drilling were received and included up to 7m @ 2.37 g/t gold from 70m coinciding with a zone of hematite altered quartz-sulphide veining
in banded iron formation rocks. Further drilling is planned.
¨ The soil geochemical results for the Waitara copper-molybdenum porphyry prospect in Queensland have been received and the molybdenum results define a discrete anomaly with a maximum of 92ppm Mo, which is considered to be
highly anomalous. Follow-up work is planned.
Download the full Quarterly Report which was lodged with the ASX today by
clicking here.
ABOUT MIDAS
Midas Resources is a Perth based resource exploration company with gold projects in Western Australia (Lake Carey-Fortitude), Queensland and China. The Company is committed to the discovery and development of high quality gold and base
metal targets at Lake Carey and at Connors Range QLD where the Company is evaluating the Waitara porphyry copper-molybdenum prospect.
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