Midas receives assay results from the first channel sample completed on the Argus pegmatite, on the Aylmer project in NWT, Canada

27 August 2024

Highlights

• Channel sample results: 26m at 1.27% Li2O,1 including higher grade zone of 12m at 1.75% Li2O
• Individual 1m intervals returned higher grades of up to 2.86% Li2O
• Argus pegmatite swarm is exposed for approximately 400m of strike
• Results emphasize the greenfield potential of the Aylmer Project, with an additional
• 17 pegmatites mapped to date

Midas Minerals Ltd (“Midas”, or “the Company”) (ASX: MM1) is pleased to announce results from first-pass channel sampling completed at Aylmer project in the Northwest Territories (“NWT”), Canada.

In December 2023, Midas announced the discovery of the Argus pegmatite swarm on the Company’s 100%-owned Aylmer claims, 330km east of Yellowknife (refer to ASX announcement dated 12 December 2023).

A single 26m channel sample (approximate true width) returning 1.27% Li2O completed on the Argus pegmatite confirms the abundance and distribution of spodumene across the pegmatite. This result emphasizes the value and potential of this greenfield discovery by Midas’ technical team. In July this year, the Company also announced its discovery of 17 additional spodumene pegmatites (refer ASX announcement dated 10 July 2024) containing abundant coarse spodumene.

Midas Managing Director Mark Calderwood commented:

“The Argus pegmatite is mineralised with coarse spodumene throughout, besides the chilled margins. A 12m northern portion of the pegmatite channel averaged 1.75% Li2O, which highlights the high-grade nature of mineralisation over significant widths, providing further weight to the potential of the Aylmer spodumene pegmatites.

“Material from this initial channel sampling has been retained for future mineral characteristics test work.”

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