Announcement Date: 2022-10-24
Announcement Type: Exploration Update
Announcement Code: JORC
Company name: Midas Minerals Ltd.
Project name: Challa
Location: Australia
Commodities: Gold,Platinum,Lead,Lithium
Highlight: Sampling assay results incl.@ 609 soil samples
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: Midas Minerals Ltd (“Midas” or “the Company”) (ASX: MM1) is pleased to announce results of ongoing geochemical sampling at its Challa Project, located 70km east of Mt Magnet in Western Australia. Midas’ results from 609 composite soil samples from 1,221 sample points has confirmed there are two strongly anomalous, parallel PGE zones each extending for at least 10km strike and likely 15km strike based on prior exploration. Sampling has also identified parallel co-incident gold and copper anomalism. Very limited prior rock chip sampling returned up to 3.45g/t 4PGE from the southern PGE target zone3 and a copper-silver gossan rock chip from within the northern PGE anomaly, previously reported by Midas, returned 16.1% copper, 566g/t silver, 0.4g/t Au and 0.13g/t 2PGE (refer to prospectus released to ASX on 3 September 2021). Limited prior drilling returned up to 1.63g/t PGE. 3
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