MONTREAL, QUEBEC–(Marketwired – Jan. 17, 2018) – Midland Exploration Inc. (“Midland”) (TSX VENTURE:MD) is pleased to report the discovery of a significant gold system during its recent drilling campaign completed in the fall of 2017 on the Casault gold project in joint venture (50/50) with SOQUEM INC. (“SOQUEM“). The Casault property consists of 315 claims (173 square kilometres) and covers the Sunday Lake Fault over more than 20 kilometres strike length, about 40 kilometres east of the Detour Lake mine. This open pit mine hosts mineral reserves estimated at 14.1 million ounces of gold (“Moz Au”) consisting in proven reserves of 87.7 million tonnes grading 1.27 g/t Au for 3.58 Moz Au, and probable reserves of 353.8 million tonnes grading 0.92 g/t Au for 10.49 Moz Au.
Vortex Zone Highlights
Over the course of September and October 2017, a diamond drilling campaign consisting of five (5) drill holes with a minimum spacing of 100 metres between drill holes and totalling 1,638.0 metres was completed on the Casault property. During this campaign, a significant gold system including four (4) new parallel gold zones, named Vortex 475, 450, 435 and 425, was identified. The envelope encompassing these mineralized zones forms a corridor approximately 50 metres wide.
The most important gold zone identified to date at Vortex, Zone 450, was intersected at shallow vertical depth (75 to 250 metres) in all the drill holes of this campaign, over a strike length of at least 500 metres. The zone trends east-west and is steeply dipping to the north; it remains open in all directions.
Zone Vortex 450 (best results)
- 1.38 g/t Au over 26.5 m, incl. 7.87 g/t Au over 2.2 m, incl. 14.55 g/t Au over 0.8 m (CAS-17-96)
- 1.30 g/t Au over 23.5 m, incl. 3.46 g/t Au over 6.0 m, incl. 23.6 g/t Au over 0.5 m (CAS-17-95)
- 2.10 g/t Au over 6.7 m, incl. 6.82 g/t Au over 0.4 m and 5.58 g/t Au over 0.4 m (CAS-17-93)
- 1.91 g/t Au over 7.2 m, incl. 5.18 g/t Au over 1.4 m (CAS-17-94)
Zone 435, located approximately 15 metres south of Zone 450, was intersected mainly to the west, in drill holes CAS-17-93 and CAS-17-94. This zone remains open to the west and at depth.
Zone Vortex 435 (best results)
- 3.50 g/t Au over 2.8 m, incl. 5.0 g/t Au over 0.95 m (CAS-17-93)
In addition to zones 450 and 435, two other zones with anomalous gold values (475 and 425) were intersected in a few drill holes, approximately 25 metres north of Zone 450 and approximately 10 metres south of Zone 435 respectively. Drill hole CAS-17-96 intersected an interval grading 18.7 g/t Au over 0.50 metre in Zone 475.
This drilling campaign, completed in the fall of 2017, targeted the strike extensions of a new gold zone that was initially identified in drill hole CAS-17-86 on section 628 100E near the Sunday Lake Fault (see press release by Midland dated September 21, 2017). This drill hole intersected a gold-bearing interval grading 3.1 g/t Au over 1.40 metres (180.50 to 181.90 m), including 3.94 g/t Au over 0.90 metre (181.00 to 181.90 m). This zone was included within a wider envelope with anomalous gold values and strong hematite, carbonate and albite alteration that graded 0.56 g/t Au over 16.0 metres, from 180.50 to 196.50 metres.
Table 1: Best results from drill holes CAS-17-92 to CAS-17-96
|Drillhole||Zone||Section||From (m)||To (m)||Au g/t||Length.(m)|
Note: True thicknesses cannot be determined with the information available at this time; intervals are therefore reported in core length.
“Syenite-associated disseminated gold” model
The Vortex gold zone is characterized by the presence of monzonitic alkaline intrusions that are predominantly altered to hematite, magnetite, carbonates and albite, and that contain disseminated pyrite mineralization. These alkaline intrusions commonly occur along contacts and within a sequence of highly deformed fragmental units near the regional Sunday Lake Fault. The high-grade Lower
Detour gold deposit (Zone 58N), located approximately 40 kilometres west of Vortex, is also described as associated with alkaline intrusions. This type of gold mineralization is known as “syenite- associated disseminated gold” (Robert, 2001). A number of very significant gold deposits in the southern Abitibi belong to this category, namely Canadian Malartic, Young-Davidson and Holt- McDermott (Robert, 2001).
Midland and SOQUEM are extremely happy with these new results obtained in the Vortex zone. A drilling program consisting of ten (10) drill holes for a total of more than 3,500 metres has been approved, in an effort to test the strike extensions at vertical depths ranging from 150 to 250 metres. The drilling program is scheduled to begin in February 2018.
Maps showing the location of the Casault property and the new Vortex gold zone may be consulted by
using the following link: http://media3.marketwire.com/docs/1106701_Figures.pdf
All analyses were performed by ALS Minerals in Val-d’Or, Quebec. All samples were analyzed for gold by fire assay with atomic absorption (AA) finish on 30-gram fractions, and all samples with grades above 3.0 g/t Au were reanalyzed with gravimetric finish. For quality control purposes, certified standards and blanks were inserted in all sample batches at regular intervals in the sample stream. All data were reviewed by Mario Masson, certified geologist and VP for Midland, a Qualified Person as defined by NI 43-101.
SOQUEM, a subsidiary of Ressources Québec, is a leading player in mineral exploration in Québec. Its mission is to explore, discover and develop mining properties in Québec. SOQUEM has participated in more than 350 exploration projects and contributed to major discoveries of gold, diamonds, lithium and other minerals.
Midland targets the excellent mineral potential of Quebec to make the discovery of new world-class deposits of gold, platinum group elements and base metals. Midland is proud to count on reputable partners such as SOQUEM INC., Agnico Eagle Mines Limited, IAMGOLD Corporation, Teck Resources Limited, Osisko Mining Inc., Altius Minerals Corp., NioBay Metals Inc. 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.
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.
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