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Monday, 23rd July 2007 (2760 views)

Precious mineral exploration company Midway Gold has announced new gold intercepts at its Spring Valley project in Nevada.

Midway claims that the discoveries show good grading, continuity and will contribute significantly to the company's growth potential.

According to assays, drill hole SV07-281 came across a shallow intercept of 20 feet of 0.387 ounces per tonne of gold within a zone of 135 ft of 0.068 ounces per tonne of gold starting at 145 feet.

It also showed an intercept of 15 feet of 0.285 ounces per tonne of gold within a zone of 90 feet of 0.063 ounces per tonne of gold starting at 520 feet.

"I'm very excited about the new discoveries in the North Hill area. We have found two parallel fault zones with nice, thick high-grade gold that could continue into areas covered with shallow gravel," commented Midway president Alan Branham.

Also discovered in the drilling in hole SV07-263 were assays showing 20 feet of 0.235 ounces per tonne of gold within a zone of 55 ft of 0.098 ounces per tonne of gold starting at 165 feet in depth.

Meanwhile, holes SV07-271 and 272 intercepted gold in a new area indicating a new gold zone, more drilling is planned here.

 

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