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MONTREAL, QUEBEC–(Marketwired – Oct. 10, 2017) – Midland Exploration Inc. (“Midland”) (TSX VENTURE:MD) is pleased to announce the commencement of a diamond drilling campaign in partnership with NioBay Metals Inc. (“NioBay”) on its La Peltrie gold property, currently wholly owned by Midland. The La Peltrie property now consists of 520 claims totalling approximately 288 square kilometres and covers, over more than 25 kilometres, a series of NW-SE-trending subsidiary faults to the south of the regional Lower Detour Fault.
This first drilling campaign begins in the wake of a new option agreement recently concluded with NioBay (see press release by Midland dated September 6, 2017) and will include a minimum of six (6) drill holes totalling 1,500 metres. This program is mainly designed to test new structural, geological, and geophysical targets identified following compilation work and OreVision® IP geophysical surveys conducted in 2016 and 2017. These new high-priority targets include a major interpreted structure trending NW-SE, cross-cutting at a shallow angle a gold-bearing iron formation where historical drilling yielded grades of 0.24 g/t Au over 19.50 metres (drill hole 11-493-01) and 0.35 g/t Au over 9.30 metres (drill hole 11-493-02).
This property with strong gold potential is located approximately 25 kilometres southeast of Zone 58N, a high-grade gold zone in the Lower Detour area held by Detour Gold Corp. (“Detour Gold”). Best results obtained so far in drilling in Zone 58N in the Lower Detour area include values of 11.82 g/t Au over 32.40 metres and 12.74 g/t Au over 28.0 metres (see press release by Detour Gold dated June 2, 2014). (Note that assays are reported as core lengths and that true thicknesses cannot be determined at this time with the information currently available).
The La Peltrie property is also located about 25 kilometres northwest of the former Selbaie mine, which historically produced 56.5 million tonnes grading 1.9% Zn, 0.9% Cu, 38.0 g/t Ag and 0.6 g/t Au. In addition, the property is next to the B26 deposit, currently held by SOQUEM, which contains indicated resources of 3.97 million tons at a grade of 0.88 % Cu, 0.38 % Zn, 0.34 g/t Au and 12.40 g/t Ag (pit) as well as 2.81 million tons at a grade of 1.32 % Cu, 0.69 % Zn, 0.54 g/t Au and 13.32 g/t Ag (underground). It contains also inferred resources of 3.99 million tons at a grade of 1.57 % Cu, 0.84 % Zn, 0.38 g/t Au and 10.22 g/t Ag (underground) as well as 3,000 tons at a grade of 1.20 % Cu, 0.02 % Zn, 0.14 g/t Au and 4.34 g/t Ag (pit) (Source: SGS Canada Inc. NI 43-101 Technical Report dated February 3 2016). Recent drilling by Soquem on this deposit returned new Zn-Ag and Cu-Au zones yielding up to 21.2% Zn, 526.6 g/t Ag, 3.8% Pb and 0.7% Cu over 3.4 metres (drill hole 1274-16-228) and 12.2% Cu, 1.3 g/t Au and 14.0 g/t Ag over 2.0 metres (drill hole 1274-16-236). (Midland cautions that the mineralization at the Selbaie Mine and at the Lower Detour Zone 58N may not be indicative of the mineralization that may be identified on the La Peltrie property).
Maps showing the location of the new option agreement with Niobay for the La Peltrie property, as well as the new drilling targets, may be consulted using the following link: http://media3.marketwire.com/docs/1103274.pdf.
Midland targets the excellent mineral potential of Quebec to make the discovery of new world-class deposits of gold, platinum group elements, base metals and rare earth elements. Midland is proud to count on reputable partners such as NioBay Metals Inc., Agnico Eagle Mines Limited, Teck Resources Limited, Osisko Mining Inc., Altius Minerals Corp., IAMGOLD Corporation, SOQUEM INC., Japan Oil and Gas and Metals National Corporation and Abcourt Mines Inc. Midland prefers to work in partnership and intends to quickly conclude additional agreements in regard to newly acquired properties. Management is currently reviewing other opportunities and projects to build up the Company portfolio and generate shareholder value.
This press release was prepared by Mario Masson, VP Exploration for Midland, certified geologist and Qualified Person as defined by NI 43-101. For further information, please consult Midland’s website: www.explorationmidland.com.
Neither 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 release.
This press release may contain forward-looking statements that are subject to known and unknown risks and uncertainties that could cause actual results to vary materially from targeted results. Such risks and uncertainties include those described in Midland’s periodic reports including the annual report or in the filings made by Midland from time to time with securities regulatory authorities.
Gino Roger, President and Chief Executive Officer
450 420-5978 (FAX)
Tue, 10 Oct 2017 12:30:00 GMT