http://www.marketwire.com Marketwired en Copyright: (C) Marketwired 1 http://www.marketwire.com/rss/marketwire_logo.jpg http://www.marketwire.com
MONTREAL, QUEBEC–(Marketwired – July 6, 2017) – Midland Exploration Inc. (“Midland”) (TSX VENTURE:MD) is pleased to report the preliminary results of a diamond drilling program conducted under the joint venture operated by Agnico Eagle Mines Limited (“Agnico Eagle”) on the Maritime-Cadillac property. The Maritime-Cadillac property is contiguous to the Lapa gold mine property.
During this drilling campaign, which began in March 2017, drill hole 141-17-36 intersected a gold-bearing zone grading 1.46 g/t Au over 31.60 metres from 112.80 to 144.40 metres, including 2.2 g/t Au over 15.6 metres on the historic Maritime-Cadillac showing, at a vertical depth of approximately 100 metres. This gold-bearing zone comprises several higher grade intervals including 4.3 g/t Au over 0.9 metre (124.1 to 125.0 m), 3.4 g/t Au over 1.0 metre (126.0 to 127.0 m) and 5.7 g/t Au over 0.6 metre (135.0 to 135.6 m). The gold mineralization is hosted in an altered felsic intrusion, described as a silicified albitite that contains up to 3-5% pyrite-pyrrhotite-arsenopyrite, finely disseminated throughout the intrusion (note that assays are reported as core lengths and that true thicknesses cannot be determined at this time with the information currently available).
This drill hole is part of a drilling campaign initially planned for 1,500 metres, aimed at validating high-grade gold intercepts historically obtained near surface in the Maritime-Cadillac zone, with values up to 151 g/t Au over 0.8 metres, 140 g/t Au over 0.3 metres, 17.0 g/t Au over 1.1 metres, and 16.5 g/t Au over 0.9 metres. The extensions of the Maritime-Cadillac zone remain open along strike and beyond 250 metres vertical depth. To date, two (2) drill holes have been completed in 2017 for a total of 618.0 metres. Agnico Eagle is currently preparing a phase of mechanical stripping this summer in order to facilitate planning the next phase of drilling.
The second hole drilled during this campaign was collared approximately 250 metres north of the Maritime-Cadillac zone and targeted the intersection between the Dyke East zone and the Maritime Contact zone. Drill hole 141-17-37 yielded an isolated value of 2.92 g/t Au over 1.2 metres, from 127.3 to 128.5 metres, in a minor shear zone hosting up to 30% quartz veinlets.
The Maritime-Cadillac property (JV Agnico Eagle 51% and Midland 49%) is well located in the eastern part of the Cadillac mining camp, south of the Lapa gold mine. The presence of significant lithological contacts (Pontiac-Piché-Cadillac) within the Cadillac-Larder Lake deformation zone provides excellent potential for the development of lode gold or disseminated gold deposits.
The exploration program on the Maritime-Cadillac project is conducted by Agnico Eagle and the data are reviewed by Mario Masson, VP Midland Exploration and Qualified Person as defined by National Instrument 43-101. Assay samples are taken from NQ-size drill core sawn in half; one half is shipped to a commercial laboratory and the other half is kept for future reference. Assays were conducted by ALS Minerals in Val-d’Or. Quality control samples, standards and blanks, were inserted in the sample stream for mineralized zones.
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, IAMGOLD Corporation, Osisko Mining Inc., Altius Resources Inc., SOQUEM INC., Japan Oil 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.midlandexploration.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
Thu, 06 Jul 2017 12:30:00 GMT