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Midnight Sun Mining Corp. (TSXV: MMA) (the "Company" or "Midnight Sun") has received notification from Rio Tinto Mining and Exploration Limited ("Rio Tinto") that the initial 2021 exploration campaign on Midnight Sun's Solwezi Licences has resumed after temporarily pausing at the end of June. This exploration work is being performed pursuant to the terms of the previously announced Earn-In and Joint Venture Agreement (the "Earn-In Agreement") (see the Company's news release dated April 27, 2020).
Exploration work to date has been focused on gaining a deeper geological understanding of the Solwezi Licences within the broader context of the various geological models hosting the significant copper mines in the area.
"Most of the mineralization on the Solwezi Licences occurs under a 40 to 50 metre thick layer of groundcover and there are very few occurrences of outcrop," stated Al Fabbro, President and CEO of Midnight Sun. "With this cover, along with the sheer size of the 506 square kilometre land package, we share Rio Tinto's view that the regional component, while time consuming, is a very necessary step in the exploration process to define and delineate target areas for drilling and potential development."
Upon returning to the field, the exploration program is expected to include work at Dumbwa, Likoka and Mawemba.
Map of Solwezi licence targets
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Dumbwa
Dumbwa is a 20 kilometre copper-in-soil anomaly overlying basement rock where previous drilling encountered disseminated chalcopyrite and bornite with certain similarities to Barrick's Lumwana Mine, which is approximately 60 kilometres west of the Solwezi Licences. The best hole to date at Dumbwa was drilled by a previous operator and intercepted 1.24% Cu over 16 metres starting at a depth of 164 metres (SDRC-13). The planned program includes infill soils, air core drilling, reverse circulation drilling and diamond drilling to test possible mineralization in magnetic, radiometric, and induced polarization geophysical responses.
Mawemba
Mawemba is a geophysical anomaly along the Mitu Trend which has returned positive geochemical and air core drill results similar to the original Mitu discovery area. Diamond drilling and an expanded soil survey are planned for the Mawemba target area.
Likoka
Diamond drill hole MDD-17-15 was initially drilled as a >3.7 kilometre step out from the discovery at Mitu, in the area now called Likoka, and measured 4.23% CuEq over 11.6 metres (see the Company's news release Midnight Sun Drills 4.23% Copper Equivalent over 11.6 Meters, dated July 4, 2017). The upcoming work will tighten geochemical spacing and increase air core drill coverage of the area in preparation for a diamond drill campaign.
"I am very excited about Midnight Sun's immediate future, and believe that Rio Tinto's detailed, systematic approach to exploration at Solwezi is what will ultimately identify the full potential of the licence area," said Mr. Fabbro. "The next few exploration programs will be the most important in the Company's history and as our understanding of these licences continues to grow, so do our chances of success."
Qualified Person: Richard Mazur, P.Geo., a Director of the Company and a Qualified Person under NI 43-101, has reviewed and approved the technical data and contents of this release.
ON BEHALF OF THE BOARD OF MIDNIGHT SUN MINING CORP.
Al Fabbro
President & CEO
For Further Information Contact:
Al Fabbro
President & CEO
Tel: +1 604 351 8850
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEW RELEASE.
This news release includes certain statements that may be deemed "forward-looking statements." All statements in this release, other than statements of historical facts, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include, changes in market conditions, unsuccessful exploration results, changes in commodity prices, unanticipated changes in key management personnel and general economic conditions. Mining exploration and development is an inherently risky business. Accordingly, the actual events may differ materially from those projected in the forward-looking statements. This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements. These and other factors should be considered carefully and readers should not place undue reliance on the Company's forward-looking statements. The Company does not undertake to update any forward-looking statement that may be made from time to time by the Company or on its behalf, except in accordance with applicable securities laws.
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