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midlands minerals corp (MEX) Snapshot

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03/11/14 - C$0.04
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Market Cap
971.1K
Average Volume 10 Days
219.2K
EPS TTM
C$-0.21
Shares Outstanding
194.2M
EX-Date
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midlands minerals corp (MEX) Details

Midlands Minerals Corporation, an exploration stage company, engages in the evaluation and development of mineral properties in Tanzania and Ghana. The company focuses on the gold and diamond exploration and development properties in Tanzania, and gold exploration properties in Ghana. It principally holds interest in the Sian/Praso project, which is located on the Ashanti Gold Belt in Ghana. The company is based in Toronto, Canada.

midlands minerals corp (MEX) Top Compensated Officers

Chief Executive Officer, President, Non-Indep...
Total Annual Compensation: C$200.0K
Chief Financial Officer
Total Annual Compensation: C$180.0K
Vice President of Exploration
Total Annual Compensation: C$183.4K
Compensation as of Fiscal Year 2013.

midlands minerals corp (MEX) Key Developments

Midlands Minerals Corporation Appoints John Cook to Its Board

Midlands Minerals Corporation announced the appointment of Mr. John Cook to the company's Board of Directors. Mr. John Cook is President and CEO of Tormin Resources.

Midlands Minerals Announces Further High-Grade Silver Intercepts at Parlozi

Midlands Minerals Corporation announced new high-grade silver assays from the Plandiste prospect on its Parlozi project in Serbia, and the successful completion of the initial commitment to Reservoir Minerals Inc. allowing the company to appraise the next phase of exploration work. Drilling at the Plandiste prospect, the first of six untested targets, intersected seven zones of old underground workings and three additional unmined, mineralized structures. New drill results over apparent thicknesses at Plandiste include: 178 g/t silver and 1.0% lead over 2.30 metres (216 g/t silver equivalent); 210 g/t silver and 0.9% lead over 1.40 metres (241 g/t silver equivalent). Drilling successfully validated the intercepts in the historic resource at the Parlozi prospect. The company is currently reviewing the exploration work that would be required to advance the project from the information obtained in the Phase 1 work program. Midlands currently has $2 million in the treasury. Core drilling in Phase 1 has therefore totaled 1,714.4 metres in six drill holes and exceeded the drill commitment to Reservoir by 214.4 metres. Drill hole 14-PA-004 tested the up-dip extension towards surface of the polymetallic mineralization at distance from the Parlozi historic resource. A hydrothermal breccia zone of 4.8 metres thickness, and averaging 0.78% lead and 0.32% zinc, was intersected at a down-hole depth of 67.9 metres close to the zone of the ancient surface workings at Parlozi (Table 3). In addition, 14-PA-004 also intersected a zone of 1.4 g/t gold over 0.7 metres at a down-hole depth of 173.7 metres (Table 3). The mineralization in the drill hole is interpreted as distal and is not representative of the mineralization in the area of the historic resources. Drill hole 14-PA-005 was added to the drill program following recent structural analysis which indicated the possibility that 14-PA-002 and 14-PA-003 may not have fully tested the downdip extension of the high-grade mineralization that was sampled in an adit (671 g/t silver and 20.8% lead over 6.0 metres). Drill hole 14-PA-005 successfully intersected ten separate structures, all of which are interpreted to be zones of mineralization. Drill hole 14-PA-005 therefore drilled through a zone of intense historical mining, of significantly greater importance than recorded in any historical data. This has provided useful information on the focus of the historical mining at Plandiste and makes a significant contribution to the developing geological model at the Plandiste prospect. It is anticipated that subsequent to, and pursuant on results from a ground geophysical survey, the swarm of interpreted mineralized structures intercepted by hole 14-PA-005 at Plandiste would need to be drilled in future to obtain clean intercepts away from historic mining. Importantly, it appears that the Plandiste intercepts represent distal mineralization which provides added encouragement to test Plandiste to depth in Phase 2 drilling. Midlands is currently obtaining quotes for an induced polarization (IP) geophysical survey to cover the southern prospects of the Parlozi licence (Kukac, Maxim, Gomilice and Glavcine exploration targets). This data will be merged with the individual Phase 1 geophysical surveys that were already completed over the Plandiste and Parlozi prospects. These surveys, in combination with structural mapping would precede and facilitate Phase 2 drill planning. Systematic QA/QC protocols are followed on the project including insertion of duplicate, blank and standard samples in all sample batches. The samples were submitted to SGS laboratory located in Bor, Serbia for preparation and assaying for gold using a standard 30 gram fire assay method with atomic absorption finish. Sample pulps with 85% of content lower than 75 microns were analyzed at SGS laboratory in Bor as well for 49 elements using ICP-MS following digestion by 4 acids. Samples with results greater than 100 g/t silver or greater than 1% lead, zinc or copper in the ICP-MS results were re-analyzed using 4 acid digestion and atomic absorption finish.

Midlands Minerals Corporation Drills High-Grade Polymetallic Mineralization at Parlozi

Midlands Minerals Corporation announced the completion of three drill holes from the phase 1 exploration program and reports significant assay results from drilling on its Parlozi project in Serbia. Phase 1 exploration program successful and nearing completion. Core drill results over apparent drill widths include: 2.2% lead, 5.6% zinc and 42 g/t silver over 2.55 metres, 2.5% lead, 3.8% zinc and 174 g/t silver over 2.95 metres, 2.4% lead, 4.0% zinc and 34 g/t silver over 2.70 metres, 2.8% lead, 2.7% zinc and 40 g/t silver over 1.70 metres, 5.3% lead, 0.1% zinc and 623 g/t silver over 1.10 metres. Geophysical orientation, cultural and hydrological baseline surveys successfully completed. The company is encouraged by the drill results and will continue with the phase 1 exploration program which is expected to complete by mid-September. The objectives of the Phase 1 drill program were to further validate the historic resource at the Parlozi prospect, to test the up dip extension, and to drill test below the Plandiste prospect underground workings. Towards these objectives, Midlands has successfully validated a drill hole in the historic resource and drilled two holes below the Plandiste underground workings. Midlands is currently preparing to test the up dip extension of the historic resource using the remaining metreage with the fourth hole in the phase 1 drill program. Drill hole 14-PA-001 was drilled to a depth of 645 metres near historic drill hole BK-15 and approximately 80m south of Reservoir's PA-1 drill hole. The top of hole 14-PA-001 was re-drilled as 14-PA-001A to a depth of 124.80 metres due to poor core recovery in the upper part of the initial drill hole. Core drilling at the Parlozi prospect was successful in confirming the presence of multiple high-grade veins combined with wide zones of carbonate replacement mineralization in the area of the historic resource.

 

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