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MONTREAL, QUEBEC–(Marketwired – Sept. 21, 2017) – Midland Exploration Inc. (“Midland”) (TSX VENTURE:MD) is pleased to report that drilling will resume on a new gold-bearing zone that was intersected in drill hole on the Casault gold project in partnership 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 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.
In March 2017, a drilling campaign, consisting of eight (8) holes for a total of 2,208 metres drilled, was completed on the Casault property. The highlight of this work is the discovery of a new gold-bearing zone in drill hole CAS-17-86, near the Sunday Lake Fault.
Drill hole CAS-17-86 targeted an induced polarization anomaly located where the regional Sunday Lake Fault cuts the western end of a Timiskaming-type conglomerate basin. This hole intersected a new gold-bearing zone grading 3.1 g/t Au over 1.40 metre (180.50 to 181.90 m), including an interval at 3.94 g/t Au over 0.90 metre (181.00 to 181.90 m). This zone is included within a larger gold anomalous envelope showing a strong alteration in sericite and hematite which yielded a gold value of 0.56 g/t Au over 16.0 metres, from 180.50 to 196.50 metres. In addition to this new zone, three other zones with anomalous gold values were intersected higher up the drill hole, between 119.4 and 172.6 metres downhole depth. (Note that assays are reported as core lengths and that true thicknesses cannot be determined at this time with the information currently available).
This new gold-bearing zone represents a prospective area which has seen very little exploration to date. Further ground geophysical were completed and consisted in an OreVision® induced polarization survey totalling approximately 10 kilometres. This survey led to the identification of several new drilling targets. A drilling program totalling at least 1,800 metres will test the new OreVision anomalies as well as the strike and depth extensions at 100-metre spacing.
Maps showing the location of the Casault property and the new gold-bearing zone may be consulted using the following link: http://media3.marketwire.com/docs/Casault.pdf
All analysis were performed by ALS Minerals in Val-d’Or, Quebec. All samples has been analysed for gold by fire assay with an atomic absorption (AA) finish over a 30 grams fraction. Certified standards and blanks were inserted regularly among the stream of samples for verification and QA/QC. The data was reviewed by Mario Masson, VP Exploration for Midland, certified geologist and Qualified Person as defined by NI 43-101.
SOQUEM, a subsidiary of Investissement 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, base metals and rare earth elements. 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., 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.
President and Chief Executive Officer
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Thu, 21 Sep 2017 12:30:00 GMT