Midway Gold announced that surface sampling has identified an area 750 feet by 700 feet of oxidized gold mineralization. This is located along the western flank of the 100% owned Golden Eagle sulfide-rich refractory gold resource, near Republic, Washington. Ninety-seven percent of the samples containing gold mineralization were oxidized. A total of 206 samples were collected from road cuts and historic open pits exposing strongly altered San Poil volcanic rocks. Assay results ranged from 0.006 to 0.221 opt gold. At a 0.006 opt gold cutoff, 187 samples averaged 0.053 opt gold. Composited intervals included 170 feet of 0.075 opt gold, 260 feet of 0.053 opt gold, and 30 feet of 0.159 opt gold.
Midway Gold announce a Mineral Resource estimate for the Golden Eagle Project, Washington. Using a 0.020 ounce per ton (opt) gold cut-off, the Indicated resource is 31.9 million tons grading 0.055 opt gold, containing 1.769 million ounces of gold. There is an additional Inferred resource of 5.1 million tons grading 0.038 opt gold, containing 194,000 ounces of gold.
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