Midnight Sun to Retain 100% Interest in Dumbwa Target
Midnight Sun Mining (TSXV: MMA) (OTC: MDNGF) announces the termination of the Dumbwa earn-in agreement with KoBold Metals, retaining 100% ownership of the Dumbwa Target in Zambia. The company plans to launch a 2025 exploration program under COO Dr. Kevin Bonel's direction.
The Dumbwa Target features a 20-kilometer-long copper-in-soil anomaly and shares geological similarities with Barrick's Lumwana Mine. The planned exploration includes detailed geological mapping and an induced polarization survey in Q2 2025, followed by targeted drilling. The program aims to locate sub-surface mineralized units and demonstrate Dumbwa's potential as a large tonnage, near-surface copper deposit.
Dr. Bonel, who previously led the exploration team at Lumwana Mine, highlights that Dumbwa shows higher copper tenor at surface and more extensive lateral presence compared to Lumwana.
Midnight Sun Mining (TSXV: MMA) (OTC: MDNGF) annuncia la cessazione dell'accordo di earn-in per il progetto Dumbwa con KoBold Metals, mantenendo il 100% della proprietà del Target Dumbwa in Zambia. L'azienda prevede di lanciare un programma di esplorazione nel 2025 sotto la direzione del COO Dr. Kevin Bonel.
Il Target Dumbwa presenta un anormale di rame nel suolo lungo 20 chilometri e condivide somiglianze geologiche con la Miniera Lumwana di Barrick. L'esplorazione pianificata include una mappatura geologica dettagliata e un'indagine di polarizzazione indotta nel secondo trimestre del 2025, seguita da perforazioni mirate. Il programma mira a localizzare unità mineralizzate sotterranee e dimostrare il potenziale di Dumbwa come un deposito di rame di grande tonnellaggio e vicino alla superficie.
Il Dr. Bonel, che in precedenza ha guidato il team di esplorazione presso la Miniera Lumwana, sottolinea che Dumbwa mostra un tenore di rame più elevato in superficie e una presenza laterale più estesa rispetto a Lumwana.
Midnight Sun Mining (TSXV: MMA) (OTC: MDNGF) anuncia la finalización del acuerdo de earn-in de Dumbwa con KoBold Metals, manteniendo el 100% de la propiedad del objetivo Dumbwa en Zambia. La empresa planea lanzar un programa de exploración en 2025 bajo la dirección del COO Dr. Kevin Bonel.
El objetivo Dumbwa presenta una anomalía de cobre en el suelo de 20 kilómetros de longitud y comparte similitudes geológicas con la mina Lumwana de Barrick. La exploración planificada incluye un mapeo geológico detallado y una encuesta de polarización inducida en el segundo trimestre de 2025, seguida de perforaciones específicas. El programa tiene como objetivo localizar unidades mineralizadas subterráneas y demostrar el potencial de Dumbwa como un depósito de cobre de gran tonelaje y cerca de la superficie.
El Dr. Bonel, quien anteriormente lideró el equipo de exploración en la mina Lumwana, destaca que Dumbwa muestra un tenor de cobre más alto en la superficie y una presencia lateral más extensa en comparación con Lumwana.
미드나잇 선 마이닝 (TSXV: MMA) (OTC: MDNGF)는 KoBold Metals와의 덤바(Dumbwa) 수익 분배 계약 종료를 발표하며, 잠비아의 덤바 타겟에 대한 100% 소유권을 유지합니다. 회사는 COO Dr. Kevin Bonel의 지휘 아래 2025 탐사 프로그램을 시작할 계획입니다.
덤바 타겟은 20킬로미터 길이의 토양 내 구리 이상 현상을 특징으로 하며, Barrick의 룸와나 광산과 지질학적 유사성을 공유합니다. 계획된 탐사에는 2025년 2분기에 상세한 지질 조사와 유도 분극 조사, 이후 목표 드릴링이 포함됩니다. 이 프로그램은 지하의 광물화된 유닛을 찾고 덤바가 대량의 구리 매장으로서의 잠재력을 입증하는 것을 목표로 합니다.
룸와나 광산에서 탐사팀을 이끌었던 Dr. Bonel은 덤바가 룸와나에 비해 표면에서 더 높은 구리 농도를 보이며 더 광범위한 측면 존재를 가지고 있다고 강조합니다.
Midnight Sun Mining (TSXV: MMA) (OTC: MDNGF) annonce la résiliation de l'accord d'earn-in pour Dumbwa avec KoBold Metals, conservant 100% de la propriété de la cible Dumbwa en Zambie. L'entreprise prévoit de lancer un programme d'exploration en 2025 sous la direction du COO Dr. Kevin Bonel.
La cible Dumbwa présente une anomalie de cuivre dans le sol de 20 kilomètres de long et partage des similitudes géologiques avec la mine de Lumwana de Barrick. L'exploration prévue comprend une cartographie géologique détaillée et une enquête de polarisation induite au deuxième trimestre de 2025, suivie de forages ciblés. Le programme vise à localiser des unités minéralisées souterraines et à démontrer le potentiel de Dumbwa en tant que grand gisement de cuivre en surface.
Le Dr. Bonel, qui a précédemment dirigé l'équipe d'exploration de la mine de Lumwana, souligne que Dumbwa présente une teneur en cuivre plus élevée en surface et une présence latérale plus étendue par rapport à Lumwana.
Midnight Sun Mining (TSXV: MMA) (OTC: MDNGF) gibt die Beendigung des Earn-In-Vertrags für Dumbwa mit KoBold Metals bekannt und behält 100% des Eigentums am Dumbwa-Ziel in Sambia. Das Unternehmen plant, ein Explorationsprogramm für 2025 unter der Leitung von COO Dr. Kevin Bonel zu starten.
Das Dumbwa-Ziel weist eine 20 Kilometer lange Kupferanomalie im Boden auf und zeigt geologische Ähnlichkeiten mit der Lumwana-Mine von Barrick. Die geplante Erkundung umfasst eine detaillierte geologische Kartierung und eine induzierte Polarisationserhebung im zweiten Quartal 2025, gefolgt von gezielten Bohrungen. Das Programm zielt darauf ab, unterirdische mineralisierte Einheiten zu lokalisieren und das Potenzial von Dumbwa als große Kupferlagerstätte in der Nähe der Oberfläche zu demonstrieren.
Dr. Bonel, der zuvor das Erkundungsteam in der Lumwana-Mine leitete, hebt hervor, dass Dumbwa an der Oberfläche einen höheren Kupfergehalt und eine umfangreichere seitliche Präsenz im Vergleich zu Lumwana zeigt.
- Retains 100% ownership of Dumbwa Target, increasing potential value capture
- 20km long copper-in-soil anomaly with higher copper tenor than Lumwana Mine
- Geological similarities to Barrick's billion-tonne Lumwana Mine
- Near-surface, low strip mining potential reducing potential extraction costs
- No field work completed during KoBold earn-in period
- Exploration results and economic viability yet to be proven
- Additional funding may be required for exploration program
Midnight Sun Unveils Dumbwa Exploration Plans for 2025 led by Dr. Kevin Bonel
Vancouver, British Columbia--(Newsfile Corp. - February 18, 2025) - Midnight Sun Mining Corp. (TSXV: MMA) (OTC Pink: MDNGF) ("Midnight Sun" or the "Company") announces that the previously announced Dumbwa earn-in agreement with KoBold Metals Company ("KoBold") (see news release dated February 20th, 2024) has been terminated. Midnight Sun retains
Midnight Sun's President & CEO, Al Fabbro, stated: "Midnight Sun has remained one of the longest standing explorers in the heart of the prolific Domes Region of Zambia. For 13 years, we have explored our vast land package, making significant discoveries of both high-grade oxide copper near surface, and high-grade sulfide copper mineralization at depth. We have never lost sight of the unique position we are in, to explore multiple top-tier copper targets in arguably the top location in the world for copper discovery. The Domes Region of Zambia is undeniably special, as evidenced by the world-class mining companies and the mines they operate surrounding us.
"Dumbwa is a huge, high-grade exploration target, featuring a 20 kilometre long copper-in-soil anomaly that represents an incredible opportunity for Midnight Sun to make a transformative copper discovery. Dumbwa has long been seen as an analog to Barrick's billion tonne Lumwana Mine, located just west of us, which features almost identical geology. Lumwana has just undergone a major transition, leading to Barrick's announcement of a new feasibility study for a super-pit expansion at the mine which would lead to doubling the mine's annual copper production.1
"Dr. Bonel, the geologist responsible for leading the exploration team that transformed Lumwana into a tier-one asset, joined our team this past year. We now have his expertise driving Midnight Sun's exploration at Dumbwa. Beyond Lumwana, Kevin has a career's worth of experience in the belt, and several major discoveries to his credit. We have already seen his effectiveness, having recently led the successful drilling campaign completed on our Kazhiba Target, confirming very high-grade oxide copper mineralization, identifying extensions and additional targets, and firmly establishing proof of concept for our oxide copper plans with First Quantum.
"With Kevin at the helm of our geological team, we have the proven technical capability and depth in-house to drive Dumbwa and our entire Solwezi Project forward. We now control the exploration and ownership of these properties, and we look forward with positivity, excitement, and total confidence in our team and assets. It is time to launch our exploration plans for Dumbwa and unlock the true value of this outstanding target."
Midnight Sun's COO, Dr. Kevin Bonel, stated: "The Dumbwa target is a near surface, low strip, huge scale exploration opportunity with very similar geology and mineralisation to Lumwana. I could not be more delighted to see Midnight Sun regain
"What initially struck me about the Dumbwa Target was the remarkable similarity to Lumwana. They are both north-south trending, 15 degrees east-dipping schist-hosted mineralised zones and both have multiple, stacked, mineralized horizons. Previous drilling has demonstrated that the copper-in-soil anomaly at Dumbwa is directly tied to bedrock schist-hosted copper sulfide mineralisation. But, by comparison, the geochemical anomaly at Dumbwa tends to have a higher copper tenor at surface and is laterally more extensive than found at Lumwana.
"The geological team is excited to get the 2025 exploration program underway which will start with an extensive IP campaign to determine the precise location and orientation of the mineralised Dumbwa units. This will be immediately followed by carefully targeted drilling to determine the full lateral extent of the copper mineralized system at Dumbwa which underlays the strong, coherent, copper soil anomaly that remains largely untested along its strike length.
"Beyond the excitement of Dumbwa, we have something incredibly special coming together at Kazhiba, with our recent high-grade drill results and the new oxide and sulfide targets we have developed. We also have top notch oxide and sulfide targets at Mitu, which we are about to explore.
"Having just one of these targets is enough to center a company around, but to have the optionality and potential upside of all three under one roof is utterly unique. Throughout my career I have been fortunate enough to lead several significant discoveries, including those which have helped transform Barrick's Lumwana Mine. I have complete confidence that we could repeat that success on multiple fronts across Midnight Sun's Solwezi Project and cannot wait to attack the outstanding opportunity at Dumbwa."
2025 Exploration Plans for Dumbwa
Although the soil anomaly over Dumbwa is well defined, and in places has extremely high copper tenors the soil anomaly has never been tied precisely to the mineralised units beneath the anomaly.
To resolve this, the Company is planning a detailed geological mapping campaign coupled with a wide-spaced induced polarization "IP" survey along the 20 kilometre long Dumbwa target. The results from this survey should locate the sub-surface extent of the mineralised units and provide valuable information on the deeper trend and dip.
The results of the geological mapping and IP survey will be used to guide follow up drilling to intercept the mineralised units, build the geological and mineralisation models, and begin to form and demonstrate the potential of Dumbwa as a large tonnage, near surface, copper deposit. The ground mapping and IP survey are anticipated to commence in Q2 of 2025 with drilling to closely follow the conclusion of the surveys.
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 goal is 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
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This news release contains "forward-looking statements" within the meaning of the applicable Canadian securities legislation that are based on expectations, estimates, assumptions, geological theories, 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.
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FAQ
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