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Tuesday, 21st August 2007 (2693 views)

A total of 12 bonanza grade gold veins have been established at Midway Gold's Midway project in Nevada, it has been revealed.

Bonanza gold veins have assays greater than 0.15 ounces per tonne (opt) of gold, Midway notes.

The company has announced that the discoveries include the Midway vein with an average weighted grade of 4.387 opt of gold over an average true width of 5.9 feet.

Midway has also established the Rochefort vein with an average of 1.296 opt of gold over four feet.

"The re-analysis of the Midway veins has greatly improved our understanding of the gold system. We now recognise a boiling horizon and the structural control of gold shows that many past drill holes missed the key gold horizon along the veins," commented Alan Branham, president and of Midway Gold.

He added that the company now has an opportunity to "significantly" expand on the gold project.

 

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