Midnight Sun Intersects High-Grade Oxide Copper at Kazhiba Target

Rhea-AI Summary

Midnight Sun Mining has announced significant results from its 2024 oxide copper drilling program at the Kazhiba Target in Zambia. Key highlights include high-grade intersections of 10.69% copper over 21 metres, 5.60% copper over 26 metres, and 3.01% copper over 15 metres.

The exploration program, conducted near First Quantum Minerals' Kansanshi Copper Mine, completed 54 Reverse Circulation drill holes totaling 2,005 metres. The program successfully validated oxide copper mineralization and established continuity of a near-surface oxide copper blanket. Additional exploration includes 625 Partial Ionic Leach samples and 3,250m of IP Survey, with results expected in Q1 2025.

The company plans 13 additional RC holes in April 2025 to test northern extensions, as mineralization remains open to the north-northeast. A resource study is scheduled for completion in Q1 2025.

Positive

• High-grade copper intersections: 10.69% Cu over 21m, 5.60% Cu over 26m, and 3.01% Cu over 15m
• Successful validation of oxide copper mineralization with potential for resource development
• Mineralization remains open for expansion to north-northeast
• Located 6km from First Quantum Minerals' Kansanshi Copper Mine

Negative

• Bedrock source of malachite in overburden not yet encountered
• Resource study pending completion in Q1 2025

Drill results include 10.69% copper over 21 metres, 5.60% copper over 26 metres, and 3.01% copper over 15 metres

Vancouver, British Columbia--(Newsfile Corp. - January 29, 2025) - Midnight Sun Mining Corporation (TSXV: MMA) (OTC Pink: MDNGF) ("Midnight Sun" or the "Company") is pleased to announce the results of the 2024 oxide copper drilling program, carried out on the Kazhiba Target ("Kazhiba"). Kazhiba is one of 4 key target areas that comprise the Solwezi Project in Zambia, located approximately 6 kilometres southwest of First Quantum Minerals' Kansanshi Copper Mine. This drill program was designed to validate and confirm the potential oxide copper resource at the Kazhiba Target and is the first major step under the previously announced Cooperative Exploration Plan with First Quantum Minerals (see news release dated April 23, 2024).

Highlights of surface drilling from the Kazhiba Oxide Copper Target include:

• 10.69% copper over 21.0 metres from drill hole MSZ22-028
• 5.60% copper over 26.0 metres from drill hole MSZ22-020
• 3.01% copper over 15.0 metres from drill hole MSZ22-012
• 4.66% copper over 7.0 metres from drill hole MSZ22-030

Exploration Highlights

• 54 Reverse Circulation ("RC") drill holes, totalling 2,005 metres ("m") completed
• Mineralization appears to extend north-northeast and remains open. 13 additional RC holes are planned to test this extension, as an initial part of a broader follow up program, currently being designed and anticipated to start April 2025
• Total of 625 Partial Ionic Leach^TM samples acquired in the Kazhiba Target - results pending and expected Q1 2025
• A total of 3,250 m of gradient and dipole-dipole induced polarization survey ("IP Survey") was completed over additional geochemical targets. Results are due Q1 2025

Midnight Sun's President & CEO, Al Fabbro, stated: "We believed that high-grade, at-surface oxide copper mineralization encountered during previous work programs at our Kazhiba and Mitu Targets, was significant. We now have proof of concept. Oxide copper represents a tremendous value-driver for our Solwezi Project. By demonstrating that the mineralization has grade, scale, and growth potential, we intend to leverage the opportunity toward significant potential near-term cash flow. In parallel, we are excited to unlock the potential of the multiple large scale sulfide targets hosted within our property boundaries. Our geological team, led by our COO, Kevin Bonel, have delivered a successful drill program, complete with impressive high-grade intercepts, and an established mineralized footprint forming the basis to develop a resource. We have room to extend and expand the mineralized footprint at Kazhiba, and a geological thesis as to how this high-grade mobilized oxide copper blanket came to be in its current location. We have executed and delivered the first major steps in our Cooperative Exploration Program with First Quantum, and we will continue to demonstrate both the optionality and true value of this incredible project, through our two-fold attack plan."

Overview

Midnight Sun's 2024 exploration program was designed to validate and confirm oxide copper mineralization at the Kazhiba Target as well as establish continuity, distribution, and grade of this mobilized, near-surface oxide copper blanket. The program successfully returned high-grade results, from multiple holes, providing proof of concept, as well as the basis for a resource study to be completed later in Q1 2025. In addition, the same licence area was sampled using Partial Ionic Leach^TM methodology to explore for additional blind oxide copper occurrences and attempt to geochemically identify possible sulphide sources for the overburden-hosted oxide copper at Kazhiba. Results from the Partial Ionic Leach^TM sampling are pending.

A total of 54 Reverse Circulation holes were drilled into the Kazhiba oxide copper target for a total of 2,005 metres drilled. Thirteen initial additional holes are planned for April 2025.

The resource potential of the drill tested Kazhiba oxide copper target is being internally modelled as a transported occurrence. The mineralization returned by the recent work indicates areas of extension, and the company intends to follow up with additional drilling later in 2025. Follow up exploration in 2025 will focus on further extending this initial oxide copper footprint, finding more of these transported occurrences as well as trying to confirm the primary sulfide source of the secondary oxide copper at Kazhiba.

Kazhiba Target Results

The Kazhiba Target was originally identified by a weakly elevated copper-in-soil anomaly that earlier drill testing confirmed is due to significant quantities of malachite fragments in transported overburden.

To delineate the potential for an oxide copper resource, a 50 m x 50 m Reverse Circulation drill grid was executed over the resource area, with a 100 m x 100 m ring of drilling around the target to test for potential extensions.

A total of 54 holes were drilled for 2,005 m of drilling. The drill chips were sampled and assayed every metre. A minimum of five m of bedrock was drilled after passing through the malachite-bearing overburden to check for a bedrock source. A bedrock source of the malachite in the overburden was not encountered so the source of the oxide copper remains a significant exploration target within the licence.

The malachite appears to continue to the north and north-east and 13 initial drill holes have been designed to test this extension, with work expected to begin in April 2025.

Kazhiba Target Significant Downhole Intercepts

HOLE_ID	FROM (m)	TO (m)	Interval (m)	Copper Grade (%)
MSZ22-004	3	20	17	0.45
MSZ22-010	19	21	2	0.40
MSZ22-012	12	27	15	3.01
MSZ22-013	18	37	19	0.91
MSZ22-014	14	19	5	1.21
MSZ22-019	11	34	23	0.82
MSZ22-020	14	40	26	5.60
MSZ22-022	35	41	6	0.23
MSZ22-027	20	31	11	0.82
MSZ22-028	13	34	21	10.69
MSZ22-030	13	20	7	4.66
MSZ22-031	37	40	3	0.16
MSZ22-036	25	30	5	0.14
MSZ22-037	35	45	10	0.12
MSZ22-038	28	38	10	0.09
MSZ22-061	9	21	12	0.11
MSZ22-058	6	19	13	0.11

 

Location of Reported Drill Holes

HOLE ID	XCOORD	YCOORD	AZIMUTH	DIP	EOH (m)
MSZ22-004	422400	8661853	VERTICAL	-90	40
MSZ22-010	422300	8661803	VERTICAL	-90	30
MSZ22-012	422400	8661803	VERTICAL	-90	36
MSZ22-013	422450	8661803	VERTICAL	-90	37
MSZ22-014	422500	8661803	VERTICAL	-90	28
MSZ22-019	422300	8661753	VERTICAL	-90	37
MSZ22-020	422350	8661753	VERTICAL	-90	40
MSZ22-022	422450	8661753	VERTICAL	-90	47
MSZ22-027	422250	8661703	VERTICAL	-90	36
MSZ22-028	422300	8661703	VERTICAL	-90	40
MSZ22-030	422400	8661703	VERTICAL	-90	23
MSZ22-031	422450	8661703	VERTICAL	-90	48
MSZ22-036	422250	8661653	VERTICAL	-90	46
MSZ22-037	422300	8661653	VERTICAL	-90	48
MSZ22-038	422350	8661653	VERTICAL	-90	42
MSZ22-061	422300	8661903	VERTICAL	-90	24
MSZ22-058	422350	8661853	VERTICAL	-90	23

 

• WGS84 UTM35S

Quality Control/Quality Assurance

RC chips were collected from the rig cyclone every metre and assigned a unique sample number. A duplicate (witness) sample was split from the cyclone sample. All samples were delivered to ALS Chemex laboratory at Kansanshi Mine for copper content determination. ALS Chemex Kansanshi is a fully accredited laboratory. Once received the samples are sorted, dried, crushed and pulped followed by four-acid digest to determine acid soluble and total copper by an AAS scan. Gold was assayed by fire assay. Standards, duplicates and blanks were inserted regularly in the sample stream and checks performed for Cu.

Qualified Person: Darin Labrenz, P.Geo., a Qualified Person under NI 43-101, has reviewed and approved the technical data and contents of this release.

About Midnight Sun

Midnight Sun is focused on exploring our flagship Solwezi Project, located in Zambia. Situated in the heart of the Zambia-Congo Copperbelt, the second largest copper producing region in the world, our property is vast and highly prospective. Our Solwezi Project is surrounded by world-class producing copper mines, including Africa's largest copper mining complex right next door, First Quantum's Kansanshi Mine. Led by an experienced geological team with multiple discoveries and mines around the world to their credit, Midnight Sun intends to find and develop Zambia's next generational copper deposit.

ON BEHALF OF THE BOARD OF MIDNIGHT SUN MINING CORP.

Al Fabbro
President & CEO

For Further Information Contact:
Adrian O'Brien
Director of Marketing and Communications
Tel: +1 604 809 6890
Em: adrian@midnightsunmining.com

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEW RELEASE.

This news release contains "forward-looking statements" within the meaning of the applicable Canadian securities legislation that are based on expectations, estimates, assumptions, and projections as at the date of this news release. The information in this news release about any information herein that is not a historical fact may be "forward-looking statements." Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (which may, but not always, include phrases such as "anticipates", "plans", "scheduled", "believed" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements and are intended to identify forward-looking statements.

Although the forward-looking statements contained in this news release are based upon what management believes, or believed at the time, to be reasonable assumptions, the Company cannot assure readers that actual results will be consistent with such forward-looking statements, as there may be other factors that cause results not to be as anticipated, estimated or intended. Such factors include, among others, risks relating to the timing and ability of the Company to obtain and the timing of the approval of relevant regulatory bodies, if at all; risks relating to property interests; risks related to access to the project; risks inherent in mineral exploration, including the fact that any particular phase of exploration may be unsuccessful; geo-political risks; the global economic climate; metal prices; environmental risks; political risks; and community and non-governmental actions. Neither the Company nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking statements. The Company does not undertake, and assumes no obligation, to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/238798

FAQ

What are the highest copper grades reported in Midnight Sun's (MDNGF) 2024 Kazhiba drilling program?

The highest copper grades reported include 10.69% copper over 21 metres, 5.60% copper over 26 metres, and 3.01% copper over 15 metres.

How many drill holes did MDNGF complete at the Kazhiba Target in 2024?

Midnight Sun completed 54 Reverse Circulation (RC) drill holes totaling 2,005 metres at the Kazhiba Target.

When will MDNGF begin the next phase of drilling at Kazhiba?

The company plans to begin the next phase, consisting of 13 additional RC holes, in April 2025.

What is the distance between MDNGF's Kazhiba Target and First Quantum's Kansanshi Copper Mine?

The Kazhiba Target is located approximately 6 kilometres southwest of First Quantum Minerals' Kansanshi Copper Mine.

When will MDNGF release the resource study for the Kazhiba Target?

The resource study for the Kazhiba Target is scheduled for completion in Q1 2025.