Midnight Sun Mining Corp.
TSX VENTURE : MMA

Midnight Sun Mining Corp.

August 30, 2012 09:52 ET

Midnight Sun Reports Results of Diamond Drill Program at the Klein Aub Copper-Silver Project

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 30, 2012) - Midnight Sun Mining Corp (the "Company" or "Midnight Sun") (TSX VENTURE:MMA) is pleased to announce the results from its Diamond Drill program on the Klein Aub Copper-Silver property in central Namibia. A total of 7 holes, comprising 4,240m, were completed to verify 2 zones of historical mineralization under the historic Klein Aub mine; the Slimesdam and Vliefveld. 6 holes targeted the Slimesdam area and 1 hole tested the Vliefveld area (see Drill Map on our website: www.midnightsunmining.com).

Highlights

  • Drill hole MMA-DD-12-005: 0.91% Cu and 39.3 gpt Ag over 2.50m including 2.09% Cu and 92.8 gpt Ag from 512.5 to 515.0m and 512.5 to 513.5m, respectively;
  • Drill hole MMA-DD-12-007: 1.04% Cu and 10.0 gpt Ag over 4.15m including 4.37% Cu and 8.0 gpt Ag over 0.65m from 447.9 to 452.05m and 449.5 to 450.15m, respectively;
  • Drill hole MMA-DD-12-007: 0.78% Cu and 5.9 gpt Ag over 6.10m including 2.35% Cu and 8.7 gpt Ag over 1.45m from 456.5 to 462.6m and 459.0 to 460.45m, respectively;
  • Drill hole MMA-DD-12-007: 0.63% Cu and 10.5 gpt Ag over 2.6m including 1.51% Cu and 24.0 gpt Ag over 0.90m from 511.9 to 514.5m and 513.6 to 514.5m, respectively

Slimesdam Mineralization

Drill holes MMA-DD-12-001 through MMA-DD-12-006 were drilled to verify and expand on historical mineral reserves under the Slimesdam area. Holes MMA-DD-12-002, 003, 004, 005 and 006 intercepted visible copper mineralization at depths ranging from 450 to 550 metres vertical. Mineralization is hosted within reduced sediments, dominantly argilites and fine grained siltstones to sandstones. Mineralization consists dominantly of chalcocite along with chalcopyrite, boronite, chrysocolla and native copper. Mineralization styles ranged from infilling of fractures and breccia zones fine coatings along bedding and foliation, as pseudomorphs of pyrite, and weakly disseminated within the coarser units.

Interpretation of the drilling intercepts along with historical assays have verified and extended the historical mineralization. The Slimesdam mineralization strikes roughly 70° and dips 45° to 55° to the south-southeast. Holes MMA-DD-12-002, 003, 004, and 005 tested and verified the lateral continuity of the mineralization, while MMA-DD-12-006 was drilled to test the up dip extension of known mineralization. Significant results for MMA-DD-12-002 to MMA-DD-12-006 are listed in Table 1.

MMA-DD-12-001 was drilled to test the up dip extension of known mineralization, however failed to reach its target due to unforeseen ground conditions. No significant mineralization was recorded for MMA-DD-12-001.

Vliefveld Mineralization

The Vliefveld area lies directly east of the Slimesdam mineralization and through historical drilling is inferred to be one continuous mineralized body. Drill hole MMA-DD-12-007 was drilled to verify historical mineralization under the Vliefveld area. Highlights of the historical mineralization included 0.95m grading 3.89% Cu, 0.91m grading 3.47% Cu, and 1.07m grading 3.05% Cu (Ministry of Mines and Energy Geological Survey, The Mineral Resources of Namibia, 1992). MMA-DD-12-007 was collared 60m North of historical hole KAP-222 and roughly 630m east of MMA-DD-12-003, the easternmost Slimesdam drill hole. The Vliefveld mineralization is comparable to the Slimesdam mineralization, striking roughly 70° to 80° and dips 45° to 55° to the south-southeast. MMA-DD-12-007 intercepted 4 unique zones of visible copper mineralization from depths ranging from 410 to 500 metres vertical. Significant results for MMA-DD-12-007 are listed in Table 1. X-Sections of all 7 holes are available on the corporate website for viewing.

Hole ID From
(m)
To
(m)
Interval
(m)
Cu
(%)
Ag
(gpt)
MMA-12-DD-002 620.00 625.00 5.00 0.67 4.5
Incl. 621.00 624.00 3.00 1.03 6.0
MMA-12-DD-003 547.00 550.00 3.00 0.51 7.9
MMA-12-DD-003 596.00 597.50 1.50 1.01 13.5
MMA-DD-12-004 378.73 379.73 1.00 0.48 14.3
MMA-DD-12-004 572.00 574.50 2.50 0.44 0.8
Incl. 572.00 573.00 1.00 0.82 2.0
MMA-DD-12-004 595.00 596.50 1.50 1.39 2.5
MMA-DD-12-004 604.00 608.00 4.00 0.41 2.6
Incl. 604.50 606.00 1.50 0.73 2.5
MMA-DD-12-005 487.30 488.80 1.50 1.04 9.8
MMA-DD-12-005 512.50 515.00 2.50 0.91 39.3
Incl. 512.50 513.50 1.00 2.09 92.8
MMA-DD-12-005 520.85 525.00 4.15 0.61 6.5
Incl. 521.85 523.85 2.00 0.97 11.5
MMA-12-DD-006 441.00 442.50 1.50 0.65 15.2
MMA-12-DD-006 467.50 468.05 0.55 0.41 12.5
MMA-12-DD-007 425.00 429.40 4.40 0.51 6.6
MMA-12-DD-007 447.90 452.05 4.15 1.04 10.0
Incl. 449.50 450.15 0.65 4.37 8.0
MMA-12-DD-007 456.50 462.60 6.10 0.78 5.9
Incl. 459.00 460.45 1.45 2.35 8.7
MMA-12-DD-007 511.90 514.50 2.60 0.63 10.5
Incl. 513.60 514.50 0.90 1.51 24.0
Table 1: Summary of mineralized intervals from the Slimesdam and Vliefveld areas.

Quality Assurance and Quality Control

Core Samples were collected and shipped to Bureau Veritas, an independent laboratory located in Swakopmund, Namibia, for geochemical analysis for Cu and Ag by Inductively Coupled Plasma (ICP) Mass Spectrometry. The ICP method was chosen due to its low detection limits (2 ppm Cu, 2 ppm Ag).

Selected intervals were cut in half on site under supervision of the Company geologist. Afterwards, samples were sorted and dried, then split with a riffle splitter and a portion then pulverised in a vibrating pulveriser by Bureau Veritas.

Samples are digested with a mixture of Acids including Hydrofluoric, Nitric, Hydrochloric and Perchloric Acids. This digest approaches a total digest for many elements however some refractory oxides are not completely attacked.

Check analyses are being conducted on selected samples to ensure accuracy, precision and reproducibility of the analyses reported. Midnight Sun is the Project Operator and maintains a quality control program involving the use of repeat assays, inserted blanks and the use of certified standards from an accredited Canadian laboratory.

Adrian Karolko, P.Geo., Project Geologist of Midnight Sun is the Qualified Person under NI 43-101 and has reviewed and approved the contents of this release.

Future Exploration

Assay results from the extensive soil geochemistry program have identified multiple high priority targets that lie along the main Klein Aub fault and its parallel structures (see Regional Soil Map on our website). The Klein Aub fault is interpreted as the dominant fluid conduit during the emplacement of copper mineralization around the Klein Aub area and is also seen in regional geophysical magnetic surveys.

A 2,500m reverse circulation drilling program is planned to test the anomalous zones to depths of 100m vertical, and a diamond drill program will follow up on positive RC drilling results to test mineralization at further depths.

ON BEHALF OF THE BOARD

Al Fabbro, President & CEO

FORWARD LOOKING STATEMENTS: Certain statements and information in this press release constitute "forward-looking statements" or "forward-looking information" Any statements or information that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects", "anticipates", "believes", "plans", "estimates", "intends", "targets", "goals", "forecasts", "objectives", "potential" or variations thereof or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are not statements of historical fact and may be forward-looking statements or information.

Forward-looking statements or information relate to, among other things, the timing and scope of NI 43-101 compliant technical reports in respect of the Klein Aub property, including a preliminary economic assessment.

Forward-looking statements are based on certain assumptions and are subject to risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation, with respect to statements regarding the resources estimate, the assumptions set forth in this news release, and risks and uncertainties relating to the interpretation of drill results and the estimation of mineral resources, the geology, grade and continuity of mineral deposits, the possibility that future exploration, development results will not be consistent with the Company's expectations, accidents, equipment breakdowns, risk of undiscovered, title defects and surface access, labour disputes, the potential for delays in exploration activities, the potential for unexpected costs and expenses, commodity price fluctuations, currency fluctuations, and other risks and uncertainties, including those described under Risk Factors in each management discussion and analysis which are available under the Company's profile at www.sedar.com. Forward-looking information is based on various assumptions including, without limitation, the expectations and beliefs of management, the assumed long term price of gold, that the Company will receive required permits and access to surface rights, that the Company can access financing, appropriate equipment and sufficient labour and that the political environment within Namibia will continue to support the development of environmentally safe mining projects. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Accordingly, readers are advised not to place undue reliance on forward-looking statements.

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Contact Information

  • Midnight Sun Mining Corp.
    Mark McCartney
    Corporate Communications
    604-336-8100 ext. 228
    604-685-7349 (FAX)
    www.midnightsunmining.com