MONTRÉAL, QUÉBEC–(Marketwired – July 5, 2016) – Midland Exploration Inc. (“Midland”) (TSX VENTURE:MD) is pleased to announce the discovery of several new gold showings following recent trenching and prospecting on its Heva gold projet. This project, wholly owned by Midland and located near the prolific Cadillac Break, about 5 kilometres northwest of the Canadian Malartic gold mine, owned in joint venture by Agnico Eagle Mines Ltd and Yamana Gold Inc., which contains proven reserves of 54.89 million tonnes at a grade of 0.97 g/t Au (1.72 Moz Au) and probable reserves of 166.64 million tonnes at a grade of 1.12 g/t Au (6.0 Moz Au), for a total of 7.72 Moz Au. The Heva project, acquired by Midland in May 2013 from Arianne Phosphate Inc., consists of two blocks, Heva West and Heva East, totalling 33 claims and covering a surface area of more than 1,200 hectares.
During this program, nine (9) new mechanical trenches (16-01 to 16-09) as well as prospecting were completed and a total of 133 selected grab samples were collected in the western part of the Heva East property. This program’s main objective was to follow-up the source of several gold and arsenic soil anomalies identified during the 2015 program. The trenching and prospection campaign highlighted five (5) new auriferous quartz veins systems directly associated with soil gold anomalies. These new showings returned 19.9 g/t Au, 6.5 g/t Au, 5.4 g/t Au, 3.5 g/t Au, 2.7 g/t Au, and several other values higher than 0.1 g/t Au on selected grab samples and over surface distances varying between 50 to 150 metres. All these new gold showings remain open laterally and in depth.
Prospection also took place and was successful in identifying another important auriferous quartz vein system about 1.2 kilometres to the east of the trenches and was followed over a minimum distance of 150 metres (open in all directions). This new area returned up-to 9.1 g/t Au and 3.8 g/t Au on selected grab samples. (Note that the values of selected grab samples might not be representative of the mineralized zones).
The table below lists the grade and position (UTM Nad83 Zone 17) of selected grab samples that returned greater than 2.0 g/t Au:
|S433057||19,9||*||706986||5341564||Vein #100W40 ; Trench 16-08EXT|
|S433086||9,1||*||708172||5341163||Vein #20E45 ; Prospection|
|S433011||6,5||*||706370||5341661||Vein #160W25 ; Trench 16-02|
|S433053||5,4||*||706996||5341559||Vein #100W40 ; Trench 16-08EXT|
|S433083||3,8||*||706922||5341587||Vein #20E45 ; Prospection|
|S433116||3,5||*||706985||5341490||Vein #100W25 ; Trench 16-06|
|S433131||2,7||*||706972||5341559||Vein #100W35 ; Trench 16-08|
|S433022||2,2||706380||5341680||Vein #160W45 ; Trench 16-02|
|S433088||2,1||706619||5341661||Vein #140W35 ; Prospection|
|Note: * Re-analysis by fire assay with gravimetric finish, else by atomic absorption 30 g (AA23).
g/t Au = grams per tonne of gold,
On the 133 selected grab samples collected during this campaign, close to 60% (79 samples) returned gold values greater than 0.1 g/t Au, including 18 that returned gold values greater than 1.0 g/t Au including 9 for which the values are greater than 2.0 g/t Au.
The majority of the auriferous quartz veins are mineralized in arsenopyrite, sometimes in pyrite, and commonly have sericitic and biotite alteration. Albite alteration is observed locally. These gold-bearing quartz veins are often present along sericite altered shear zones in contact between different layers of deformed polygenic conglomerate and massive wackes which belongs to the Timiskaming Group. Locally, the veins lightly cross-cut the schistosity and are hosted by the conglomerates and/or the wackes.
Follow-up work planned for summer 2016 will include channel sampling of the best showings, additional trenching, prospection and a soil geochemical survey.
Figures locating the new gold showings on the Heva Project can be consulted using the following link: http://media3.marketwire.com/docs/HevaJuly52016.pdf
All analysis were performed by ALS Minerals in Val d’Or. All samples were analyzed for gold by fire assay with an atomic absorption finish (AA23) on a fraction of 30 grams and a gravimetric finish for values greater than 3.0 g / t Au. For the quality control, in each transmission, certified standards and blanks were inserted at regular intervals throughout the sequence of samples. The data was reviewed by Mario Masson, VP Exploration for Midland, certified geologist and Qualified Person as defined by NI 43-101.
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 Agnico Eagle Mines Limited, Teck Resources Limited, SOQUEM INC., Osisko Exploration James Bay 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.
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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