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Projects Overview Spring Valley Project Pan Project Midway Project Other Projects

Pan Project

Pan Project
White 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.

The project has a current Plan of Operation which allows for up to 25 acres of disturbance.

A technical report estimating and supporting the resource for the project was completed to National Instrument 43-101 standards on January 15, 2005 by Mine Development Associates, an independent consulting group in Sparks, Nevada. The report is filed under the Pan-Nevada SEDAR filings.

Using a cutoff grade of 0.010 opt gold, the resource includes:

Measured and Indicated: 18.96 million tons of 0.019 ounces of gold per ton (361,400 ounces of gold)

Inferred Resource: 8.3 million tons of 0.017 ounces of gold per ton (140,600 ounces of gold)
See Press Releases for the latest on the Pan Project