Midnight Sun Mining Corp (OTCPK:MDNG.F) Update / Briefing Transcript

Summary of Midnight Sun Mining Corp Update - December 17, 2025 Company Overview - Company: Midnight Sun Mining Corp - Focus: Copper exploration in Zambia, specifically the Dumbwa and Kazhiba projects Key Points from the Call Industry Context - The presentation is centered around the Zambian Copperbelt, a significant area for copper mining and exploration Project Updates - Dumbwa Project: - Currently, 88 drill holes completed with 17,800 meters drilled over approximately 1.7 km, extending to 2.5 km for scout holes [17][18] - The drilling is divided into three blocks: Sundash Farm Block, West River Drill Block, and Dumbwa Central and North Blocks [19] - A formal resource declaration is anticipated by Q3/Q4 2026 [19] - The project is described as having a predictable mineralization pattern, with a potential for large tonnage, near-surface, low-grade copper deposits [30] - Kazhiba Project: - Adrian Coralku is leading the work at Kazhiba, collaborating with Kevin Bonal on the Dumbwa project [8] Technical Insights - The mineralization at Dumbwa is hosted in a north-south trending shear zone, similar to the Kansanshi deposit located nearby [32] - The geological model indicates a strong correlation between soil anomalies and underlying copper sulfide mineralization [28][30] - The project has faced delays in assay reporting due to quality control issues with the laboratory, SGS, which is being addressed [21][22][25] Assay Results and Expectations - Only 14% of the drilled holes have received assay results, with significant bottlenecks in reporting [20][21] - Initial results show promising intercepts, such as 39.7 meters at 0.51% copper, indicating potential for economic viability [49][51] - The project is expected to yield a resource of over 1 billion tons of ore, with grades potentially around 0.5% copper [30][61] Comparisons with Other Deposits - The geology of Dumbwa is comparable to that of Lumwana, with similar mineralization characteristics but differing in strike length and thickness [53][54] - The potential for Dumbwa is modeled to exceed that of Lumwana in terms of strike length, with estimates suggesting up to 11 kilometers of mineralization [54][59] Future Outlook - The team is optimistic about the potential of Dumbwa, with ongoing drilling and modeling efforts to refine resource estimates [63] - The focus remains on the southern 11 kilometers of the project, with plans to explore the northern sections as well [63] Conclusion - The call highlighted the excitement surrounding the Dumbwa project, emphasizing its potential as a tier-one copper opportunity in the Zambian Copperbelt, despite current challenges with assay reporting and geological complexities [30][62]