LAKE CAREY PROJECT - WA
The Company's 100% owned Lake Carey gold project is situated in the Laverton Tectonic Zone in Western Australia's North Eastern Goldfields. The project includes the Fortitude gold deposit and adjacent satellite deposits, where the JORC compliant estimate (Indicated + Inferred) of total Mineral Resources stands at 9.068 million tonnes grading 1.6 g/t (473,000 ounces of contained gold) at an 0.5 g/t Au cut off grade.
The resource was estimated by RSG Global (now Coffey Mining) using Multiple Indicator Kriging based on a 3mE x 6mN x 2.5mRL Selective Mining Unit and reported in the ASX release of 31st June 2007.
This strategically located project is just 35 km by exisiting road from Anglogold Ashanti's Sunrise Dam mining operation (past production and current resources total ~8.0 million contained ounces). Midas is currently undertaking studies into the most efficient and cost effective method of mining and treatment for the Fortitude gold deposit.
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