Part of the Stock Digest group of websites: Visit Tech Stock Digest  

Midas Gold (CN:MAX) is on its way to converting development rock into a source of revenue at its Stibnite gold project in Idaho in the US, following excellent drill results at its Hangar Flats deposit.

During a programme to enhance the mineral resources and undertake geotechnical testing of pit walls and infrastructure areas, the company has come across some significant high-grade assays.

This has included a 50.3m interval averaging 3.2g/t Au, 36.1g/t Ag and 1.2% Sb from 107.3m and 33.5m grading 3.2g/t Au and 3.9g/t Ag from 144.3m.

Stephen Quin, CEO of Midas, said the latest intercepts "further demonstrate the potential to upgrade inferred mineral resources within the PFS limits from a cost centre to a source of revenue".

Inferred resources, which amounted to 400,000oz at Hangar Flats, were previously treated as development rock in the 2014 PFS project economics, as required by NI 43-101, but the grades and continuity of these assays and others bode well for many ounces moving into the reserve category and being treated as ore in the upcoming definitive feasibility study.

Click here to continue reading...

Subscribe to the RSD email list and get the latest resource stock activity directly to your inbox, for free.



Name Last Change
DOW 24100.50 2.06%
S&P 500 2599.95 1.95%
NASDAQ 6910.67 2.31%
TSX 14595.07 1.06%
TSX-V 555.38 0.00%

Resource Commodities

Name Last Change
Gold 1238.38 0.29%
Silver 14.57 1.17%
Copper 2.76 0.000
Platinum 787.00 0.000
Oil 51.20 2.70%
Natural Gas 3.83 7.76%
Uranium 28.53 0.35%
Zinc 1.22 0.00%


Part of the Stock Digest family of websites
Small Cap Stock Digest