Briefing: Midnight Sun Mining
Rating

BRIEFING NOTE

Midnight Sun Mining (MMA.V, last at $1.33)

November 4, 2025

Source: Company Press Release

Key Highlights

  • Exceptional High-Grade Intercept: Hole MSZ-25-029E hit 7.39% Cu over 14.86m, including a core of 16.9% Cu over 4m.
  • Maiden Resource Estimate: On track for release by end of 2025, incorporating all new 2025 drill data.
  • Resource Expansion Underway: New RC program at Kazhiba East testing three copper soil anomalies to expand near-surface oxide potential.
  • Data Verification: Due diligence drilling is confirming mineralization in previously "void" intervals, suggesting past (2024) results may improve.

Detailed Analysis

2025 Resource Definition Campaign

Midnight Sun Mining Corp. reported strong initial assay results from its 2025 drilling campaign at Kazhiba Main in Zambia. Notably, hole MSZ-25-029E intercepted 7.39% copper over 14.86 meters, including an exceptionally high-grade interval of 16.9% copper over 4 meters between 17 and 31.86 meters depth. These results emerge from a resource-edge definition campaign involving 163 holes totaling 5,243 meters, with additional assay results from the 2025 reverse circulation drilling program still pending. All new data will be included in the company's maiden NI 43-101 resource estimate, targeted for release by the end of 2025.


Operational & Exploration Updates

The company is also conducting due diligence diamond drilling to verify results from previous RC holes, particularly addressing past sampling issues that led to “voids” or no sample return—now confirmed as drill contractor error. Early redrill observations suggest significant copper mineralization exists in these intervals, potentially boosting the overall resource. Meanwhile, Midnight Sun has launched the Kazhiba East RC program to test three new copper soil anomalies; this campaign aims to expand near-surface oxide resources with 100 planned RC drill holes.


Context & Outlook

Previous drill highlights from 2024, including intervals such as 10.69% copper over 21 meters and 5.60% copper over 26 meters, reinforce the prospectivity and high-grade nature of the Kazhiba area. The company expects that ongoing drilling and verification will help define a substantial new copper resource, positioning Kazhiba as a major near-surface oxide copper opportunity in the prolific Zambia-Congo Copperbelt.

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