MONTREAL, QUEBEC–(Marketwired – Nov. 12, 2015) – Midland Exploration Inc. (“Midland”) (TSX VENTURE:MD), in partnership with SOQUEM INC. (“SOQUEM”), is pleased to announce that new priority drill targets have been identified on the Jouvex property following the recent induced polarization survey (“IP”) and a new diamond drilling campaign will begin shortly to test these targets. The Jouvex property includes 291 claims covering approximately 162 square kilometers along the gold-bearing deformation zone of Casa Berardi-Douay-Cameron (“Casa-Berardi”). This property is wholly-owned and is located about 50 kilometers west of Matagami in Abitibi, Quebec.
Throughout the 2015 summer, an IP survey totaling about 35 kilometers was completed and has identified several new anomalies. Of these, three are located nearby and on either side of a flexure along the Casa-Berardi fault and were prioritized as drilling targets. Moreover, these three targets are aligned in an east-west direction corresponding to the direction of a structure interpreted from the magnetic survey. This new drilling campaign helicopter includes three (3) holes totaling over 850 meters.
Acquired in 2012 and under an option agreement with SOQUEM since 2014, Jouvex gold property covers over 10 kilometers of an important regional flexure along the Casa-Berardi deformation corridor which marks the contact between regional sediments of the Taibi Group and volcanic rocks of the Cartwright Hills Group. This major structure is host to the Casa-Berardi mine located approximately 65 kilometers further west with a historical production of over 1.9 million ounces of gold (source: Hecla Mining Co. website) and the Douay and Douay West deposits located approximately 7 kilometers southeast containing an inferred resource of 2.8 million ounces and measured and indicated resources of 238,400 ounces of gold (Source: Corporation’s website Aurvista gold).
Maps showing the new drilling target area of Midland Jouvex property may be consulted using the following link: http://file.marketwire.com/release/Figures%20Jouvex%20drilling%20Nov%202015.pdf
About Midland Exploration
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 SOQUEM INC., Teck Resources Limited, Agnico Eagle Mines Limited, Japan Oil and Gas and Metals National Corporation and Sphinx Resources Ltd. 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.
About SOQUEM and Investissement Québec
SOQUEM is a wholly-owned subsidiary of Ressources Québec, which is a subsidiary of Investissement Québec. Investissement Québec’s mission is to promote growth and investment in Quebec, thereby contributing to economic development and job creation in all regions of the province. It offers businesses a full range of financial solutions, including loans, loan guarantees and equity investments to provide support at every stage of their development. It also administers tax measures and oversees prospecting for foreign investment.
This press release was prepared by Mario Masson, Midland’s VP Exploration, 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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