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Midlands Minerals Corporation - initiates technical evaluation of Sian property on the Ashanti Goldbelt in Ghana
Midlands Minerals Corporation - initiates technical evaluation of Sian property on the Ashanti Goldbelt in Ghana.
About this update from King Global Ventures Inc.
[{"type":"text","content":"\n\n\n\n\nTSX-VN: \"MEX\"\n\nTORONTO, Feb. 6 /CNW/ - Kim Harris, Chief Executive Officer, Midlands\nMinerals Corporation (\"Midlands\" or the \"Company\") is pleased to announce that\na technical evaluation of the Sian Goldfields Limited (\"Sian\") property and\nMidlands' Kwahu Praso gold property in Ghana commenced in January 2006. The\nSian and Kwahu Praso properties are located on the north-east end of the\nAshanti Goldbelt.\nMidlands recently entered into an agreement to acquire a 70% interest in\nthe mineral assets of Sian which include 50 square kilometres of ground, a\nhistorical resource, an open pit mine, plant and equipment.\nSian Goldfields Limited was actively mining gold on the Esaase open pit\nmine until July 2004, and there are previous workings on the Besease, an old\nprospect also on the Sian property. No estimates of Mineral Resources or\nReserves (as defined by National Instrument 43-101) have been made since the\ndate NI 43-101 came into effect. Sian ceased its mining operations in July\n2004 due to lack of capital and issues related to the management of their\nmining operations.\nSian, which is contiguous to Midlands' Kwahu Praso gold property, is\nsurrounded by Kwahu Praso on three sides. Midlands holds an 80% interest in\nthe Kwahu Praso gold project, a 109 square kilometre property. Contiguous to\nKwahu Praso (to the south) is the Akaose property held by Resolute Mining\nCompany. Both Kwahu Praso and Sian are surrounded by Newmont Mining\nCorporation and are approximately 30 kilometres from Newmont's Akyem Project,\na $500 million investment which is scheduled to commence production in 2008.\nNewmont Mining is reporting over 5 million oz of gold on their Akyem property.\n\nClick Here for Image:\nwww.midlandsminerals.com/press_releases/images/ashantibelt1.pdf\n\nThe technical work program being carried out on Sian and Kwahu Praso\nproperties was designed by Marc Boisvert, P.Eng. and is being supervised by\nMarc Boisvert. The 43-101 reports are expected to be available by the end of\nApril, 2006.\nThe work program on Sian includes verification of all gold showing on the\nEsaase, Besease, Odumesua and Ampeha. Drill logs and cores from Sian will be\nreviewed and about 10% of the existing drill cores will be re-assayed.\nMidlands will re-assay approximately 10% of existing duplicate samples, and\nwill re-sampl...