hi guys..
just a feeling if gold keeps rising over the next few weeks.
i'm certain that midas shares will take off like a rocket.
see recent announcement:
15 September 2004
AUSTRALIAN STOCK EXCHANGE LIMITED
Dear Sirs
INFORMATION RELEASE
MIDAS RECOMMENCES DRILLING AT FORTITUDE GOLD DEPOSIT
Fortitude Aircore Drilling
Midas has completed seven drill programmes to date at Lake Carey, mainly focused on its Fortitude gold
deposit. The current drill programme involves 3,500m (65 holes) of Aircore drilling with the objective of
defining the strike extent of the “M Lode” in the footwall of the deposit (see figure) and increasing
confidence in the continuity of mineralisation in the oxidised zone in the southern part of the resource area.
Drilling results are expected to be available by the end of October.
Midas acquired the Fortitude gold deposit and a large tenement package within the highly prospective
Laverton Tectonic Zone from Aurora Gold in October 2002. The current Fortitude Mineral Resource is
6.6 million tonnes at an average grade of 2.2 g/t (478,000 contained gold ounces) which includes an
Indicated Resource of 2.875 million tonnes at an average grade of 2.1 g/t gold. Aurora Gold prepared a
pre-feasibility pit optimisation study at a gold price of $527/oz that included an estimated 220,000oz of
resources at a fully diluted grade of 2.46 g/t Au. Midas believes that there is scope to update the pit
optimization study in light of favourable infill drill results and a more robust gold price.
Midas is now updating its resource estimate for Fortitude to include the results of the various drill
programmes that it has completed since acquisition of the project. The new resource estimate is expected
to be completed by October and is to be followed by pit optimisation studies for completion in November.
Drilling Results - Quality Control
The company has designed a sampling protocol that limits drilling to the oxidised zone above the water
table and includes appropriate duplicate and standard samples to check laboratory precision and accuracy.
Yours faithfully
MIDAS RESOURCES LIMITED
GEOFF BALFE
Managing Director
hi guys..just a feeling if gold keeps rising over the next few...
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