CommodityCoverage
7 días hace
Joining the Ellis Martin Report, Midnight Sun's (MMA.v MDNGF) VP of Business Development & Communications detailed the company's recent intersection of high-grade oxide at the Kazhiba Target including 10.69% copper over 21 metres, 5.60% copper over 26 metres, and 3.01% copper over 15 metres: https://www.abnnewswire.net/press/en/130778/Ellis-Martin-Report-Midnight-Sun-Mining-Corps-(CVE-MMA)-Adrian-OBrien-High-Grade-Copper-in-Zambia-Near-Production.html
Presenting a high-potential, low-cost copper exploration play in a top-tier mining jurisdiction, MMA has near-term cash flow potential, world-class exploration targets, and a clear M&A strategy, positioning the company as a major player in the Zambian Copperbelt.
CommodityCoverage
1 semana hace
Recognized for its strong market performance, increased liquidity, and strategic growth, Midnight Sun (MMA.v MDNGF) has been named a Top 50 Performer on the TSX Venture, a significant milestone coming after the company regains 100% ownership of the Dumbwa Target, a high-potential copper discovery in Zambia’s Domes Region: https://x.com/StckMasterFlash/status/1893039102624444769
With near-term exploration catalysts and a strong footprint in one of the world’s most prolific copper regions, MMA is poised for further growth as it advances an extensive IP survey and drilling program, while also pursuing opportunities across multiple high-grade targets, including Kazhiba and Mitu.
Mr. Zen
11 años hace
Midnight Sun Mining Corp. Drills 24 Meters Grading 3.26% Copper at Solwezi Property, Zambia
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec. 9, 2013) - Midnight Sun Mining Corp. (the "Company" or "Midnight Sun") (TSX VENTURE:MMA) announces the results from the first four holes of the reverse circulation ("RC") drilling program on the Solwezi copper property in northwest Zambia which commenced in mid-November.
Hole # From(m) To (m) Width (m) Est True (m) % Cu
-------------- ------- ------ --------- ------------ -----
SLZ-RC-13-001 No Significant Results
-------------- -----------------------------------------------
SLZ-RC-13-002 20.0 44.0 24.0 20.0 3.26%
-------------- ------- ------ --------- ------------ -----
SLZ-RC-13-003 12.0 16.0 4.0 4.0 2.25%
-------------- ------- ------ --------- ------------ -----
SLZ-RC-13-004 18.0 30.0 12.0 12.0 0.68%
-------------- ------- ------ --------- ------------ -----
These results confirm the presence of high grade, near surface copper mineralization in this location. Three additional holes were drilled in this area and assays are pending. All assays in excess of 2% were tested for acid solubility and these generally exceeded 95% acid soluble copper.
The remaining holes in the Solwezi Northwest program will test anomalies from a recently completed geophysical survey using an electromagnetic system (NSAMT) and from soil geochemical programs. All targets are within 10km of the Kansanshi mine, the largest copper mine in Africa, which is operated by First Quantum Minerals (FQM-T).
The Company also intends to drill the significant Kifubwe nickel and copper soil anomalies overlying the favourable Upper and Lower Roan Formations. These geological formations host numerous deposits in the Zambian Copperbelt.
The Company's recently prepared NI 43-101 compliant report entitled "Technical Report on the Geology and Exploration Summary of the Solwezi Group of Prospecting Licences" is available on the company's website here, as well as on www.sedar.com.
All drilling is being carried out by Layne Drilling, a world leader in RC drilling, and assaying is being completed by Genalysis Laboratory Services, an accredited lab located in South Africa.
Qualified Person: Adrian Karolko, P.Geo, a Qualified Person under NI 43-101, has reviewed and approved the technical data and contents of this release.
TSX Venture Approval: The TSX Venture Exchange ("TSX-V") has given final approval to the property option agreement (the "Agreement") between Midnight Sun and Kam Chuen Resource Holdings Ltd. ("Kam Chuen") regarding the acquisition of a 60% interest in the Solweizi Licences in Zambia. Pursuant to the Agreement, Midnight Sun will be issuing 1,333,333 shares in the Company to Kam Chuen at this time. Full details of the Agreement are described in the November 29, 2013 news release, available here.
The TSX-V has also given final approval to the closing of the previously announced non-brokered private placement (the "Private Placement") as described in the November 6 and 26, 2013 news releases available here.
The Company has issued a total of 4,329,350 units at a price of $0.16 per unit for gross proceeds of $692,696. Each unit consisted of one (1) common share ("Common Share") and one (1) transferable common share purchase warrant ("Warrant"). Each Warrant entitles the holder to purchase one Common Share of the Company for a period of eighteen months from the closing of the offering, at a price of $0.30.
All securities issued pursuant to the first tranche, including the Common Shares underlying the Warrants, are subject to a statutory hold period which expires on March 7, 2014 and all securities issued pursuant to the second tranche on March 27, 2014.
Finder's fees of $18,304 are payable in cash and 114,400 Broker's Warrants are issuable in connection with the Private Placement. Each Broker's Warrant entitles the holder to purchase one common share at a price of $0.30 for a period of 18 month, expiring on May 27, 2015.
Insiders have participated in the first tranche of the Offering by purchasing 1,084,350 units and the second tranche by purchasing 220,000 units, for a total of 1,304,350 units and gross proceeds of $208,696.
About Midnight Sun: Midnight Sun is a mineral exploration company with an African focus. On November 29, 2013 the Company announced that it entered into a definitive agreement to option a 60% interest in the Solwezi Licences in Zambia. This option agreement is a part of an ongoing strategic alliance with Kam Chuen Resource Holdings Ltd. Kam Chuen holds an exclusive prospecting license portfolio of over 150 exploration permits covering over 100,000 km(2) in five African countries. As a result of this Strategic Alliance, Kam Chuen has agreed to provide Midnight Sun with full access to its portfolio, as well as first right of refusal regarding the optioning of any of Kam Chuen's exploration permits. In exchange, Midnight Sun has agreed to offer Kam Chuen technical expertise in the management and selection of properties.
ON BEHALF OF THE BOARD
Robert Sibthorpe B.Sc.(Geology), M.B.A., President & CEO
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 NEWS 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 the price of gold, 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.
Al Fabbro
Director
604-351-8850
Mr. Zen
11 años hace
Midnight Sun Signs Definitive Option Agreement for Exploration Permits in Zambia
Midnight Sun Mining Corp (TSXV:MMA)
Friday 29 November 2013
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov 29, 2013) - Midnight Sun Mining Corp. (the "Company" or "Midnight Sun") (TSX-VENTURE:MMA) announces that it has agreed to final terms relating to the option agreement ("Option Agreement") with Kam Chuen Resource Holdings Ltd. ("Kam Chuen"), which was discussed in a May 9th, 2013 news release (available on the Company's website).
Under the terms of the Option Agreement, Midnight Sun can earn a 60% interest in two mineral exploration permits near Solwezi, Zambia that are currently held by Kam Chuen by issuing an aggregate of 15,333,333 shares to Kam Chuen and incurring $3,666,667 of work expenditures ("Expenditures") related to the properties according to the following schedule:
(i) 1,333,333 shares issued on receipt of TSX Venture Exchange (the "TSXV") approval to the option (the "Approval Date"), a further 4,00,000 shares 18 months after the Approval Date; and a further 10,000,000 shares 36 months after the Approval Date; and
(ii) $1,000,000 of Expenditures within 18 months of the Approval Date, a further $1,333,333 of Expenditures within 36 months of the Approval Date and a further $1,333,334 of Expenditures within 48 months of the Approval Date.
The Option Agreement remains subject to receipt of all necessary regulatory approvals, including the approval of the TSXV.
ON BEHALF OF THE BOARD
Robert Sibthorpe B.Sc (Geology), M.B.A., President & CEO
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 NEWS RELEASE.
Midnight Sun Mining Corp.
Al Fabbro
Director
604-351-8850
Mr. Zen
11 años hace
Midnight Sun Mining Corp. Closes Second Tranche of Private Placement
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov. 26, 2013) - NOT FOR DISTRIBUTION TO THE UNITED STATES OR FOR DISSEMINATION IN THE UNITED STATES
Midnight Sun Mining Corp. (the "Company") (TSX VENTURE:MMA) is pleased to advise that it has completed the second and final tranche (the "Second Tranche") of its previously announced Private Placement (the "Offering") - see news releases dated June 3, 2013, September 27, 2013, and November 6, 2013 - by issuing 1,815,000 units at a price of $0.16 per Unit for gross proceeds of $290,400. Each Unit consisted of one (1) common share ("Common Share") and one (1) transferable common share purchase warrant ("Warrant"). Each Warrant entitles the holder to purchase one Common Share of the Company for a period of eighteen months from the closing of the offering, at a price of $0.30. All securities issued pursuant to the Second Tranche, including the Common Shares underlying the Warrants, are subject to a statutory hold period which expires on March 27, 2014. In both tranches, subscriptions totaled 4,379,350 Units for gross proceeds of $700,696. Finder's fees of $18,944 are payable in cash and 118,400 Broker's Warrants are issuable in connection with the Private Placement. Each Broker's Warrant entitles the holder to purchase one common share at a price of $0.30 for a period of 18 month, expiring on May 27, 2015. Insiders have participated in the first tranche of the Offering by purchasing 1,084,350 Units and the Second Tranche by purchasing 220,000 Units, for a total of 1,304,350 Units and gross proceeds of $208,696. Proceeds from this private placement will be used by the Company to fund work commitments on its Zambian exploration properties, as well as general working capital. This press release is not an offer or a solicitation of an offer of securities for sale in the United States. The securities have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration. ON BEHALF OF THE BOARD Robert Sibthorpe, President & CEO 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 NEWS RELEASE. These securities being offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") and may not be offered or sold in the United States or to, or for the benefit of, U.S. persons (as defined in Regulation S under the U.S. Securities Act) absent U.S. registration or an applicable exemption from the U.S. registration requirements. This release does not constitute an offer for sale of securities in the United States. This news release includes certain statements that may be deemed "forward-looking statements." All statements in this release, other than statements of historical facts, including the expected completion of the Offering are forward-looking. 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, 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.
Midnight Sun Mining Corp.
Al Fabbro Director 604-351-8850
www.midnightsunmining.com
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WealthyKing
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