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Pan ProjectPan ProjectWhite Pine County, Nevada The Pan project is a sediment-hosted gold deposit on the prolific Battle Mountain-Eureka gold trend in Nevada. It is an oxide deposit exposed on the surface with simple metallurgy. Since April 19, 2007, Midway drilled 35,510 feet in 113 holes. Four new gold zones were discovered at Nana, Barite, Wendy, and Boulders. Drill results at Boulders extended gold for 1,300 feet under volcanic outcrop at North Pan. Drill results at Barite and Wendy extended gold at South Pan by 400 feet south and 300 feet east respectively. The Nana zone, 4,000 feet northwest of North Pan, represents a new exploration opportunity. All four of these new discoveries remain open for expansion along strike and dip. A large scale soil survey identified four previously unknown gold-arsenic anomalies with no previous exploration in new areas over 1 mile south of the current drilling. Results from a recently completed detailed gravity survey have also outlined several new targets areas. As a result, additional claims were staked bringing the property position to 15 square miles. The Company plans to drill 54,000 feet in 100 holes at Pan in 2008. This will include confirmation drilling to initiate a scoping study for pre-feasibility, especially where previous holes bottomed in mineralization. Step-out drilling will continue to test expansions of new gold discoveries from 2007. Exploration drilling will test new targets under volcanics and those identified by soils and geophysics.
In 2009, an updated NI 43-101 compliant gold resource was estimated to be: Table 1: Pan Gold Resource
Mineral resources reported within an optimal pit shell using a 0.006 opt gold cutoff (see notes below)
The previous Pan resource estimate by Mine Development Associates ("MDA") in 2005 (Gustin, M., 2005, Pan Gold Project Updated Technical Report, White Pine County, Nevada USA.) included Measured 3.086 million tons grading 0.019 opt gold, Indicated 15.875 million tons grading 0.019 opt gold, and Inferred 8.3 million tons grading 0.017 opt gold, all using a 0.01 opt gold cut-off. See the press release dated November 5, 2009 and the subsequent NI 43-101 technical report filed on SEDAR December 1, 2009 for more information about this resource.
Click here to view the July 20, 2010 dated NI 43-101 Preliminary Economic Assessment (PEA) Technical Report on the Pan, Nevada Project. Click here to view the December 1, 2009 dated NI 43-101 Technical Report on the Pan, Nevada Project. See Press Releases for the latest on the Pan Project |
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The project has a current Plan of Operation which allows for up to 25 acres of disturbance.
