MONTREAL, July 17, 2018 (GLOBE NEWSWIRE) — Midland Exploration Inc. (“Midland”) (TSX-V:MD) is pleased to report that drilling will resume on the Vortex zone as well as additional high-priority geophysical targets identified further east on the Casault property. This program, totalling more than 3,000 metres, is scheduled to begin during the third week of July.
The Vortex zone, a major gold-bearing system associated with alkaline intrusions, was initially discovered during a drilling campaign conducted in the fall of 2017, in joint venture (50/50) with SOQUEM INC. (“SOQUEM”).
Drilling on the Vortex zone (4 drill holes; 2,400 m)
The main objective of this new campaign will be to test the extensions of the Vortex zone at a vertical depth of 500 metres, in three (3) drill holes spaced 400 metres apart. Gold-bearing intercepts in drill holes CAS-17-96 (Zone 450: 1.38 g/t Au over 26.2 metres including 7.9 g/t Au over 2.2 metres); CAS-18-101 (Zone 450: 12.4 g/t Au over 1.05 metre); and CAS-18-105 (Zone 475: 0.51 g/t Au over 26.0 metres including 2.09 g/t Au over 2.30 metres) remain wide open at depth and will be tested during this campaign.
Another hole will be drilled to test Zone 475, approximately 250 metres west of drill hole CAS-18-105, which yielded the best intersection to date in this zone and which remains wide open to the west and at depth (see press release by Midland dated July 5, 2018).
Drilling of new targets further east (3 drill holes; 600 m)
In addition, a new prospective area exhibiting the same magnetic features, located about 3 kilometres east of the Vortex zone, was identified along the northern contact of the Timiskaming-type conglomerate basin. An OreVision®-type induced polarization (IP) survey totalling 15 kilometres will be conducted in this prospective area in order to generate new drilling targets; the drilling campaign includes a contingency of one drill hole totalling 200 metres in this area.
Two drill holes of 200 metres each will also be completed approximately 3 kilometres southeast of the Martinière deposit (Bug Lake Zone) held by Balmoral Resources Ltd, in order to test chargeability anomalies identified during OreVision®-type induced polarization surveys conducted in 2017. These new anomalies have never been tested and are favourably located near the Sunday Lake Fault and near the northern contact of the Timiskaming-type conglomerate basin.
The Casault property consists of 315 claims (173 square kilometres) that cover the Sunday Lake Fault over more than 20 kilometres strike length, approximately 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. (Disclaimer by Midland: Mineralization at the Detour Lake mine and the Martinière deposit may not be representative of mineralization that may be identified on the Casault property and in the Vortex zone).
Maps accompanying this announcement are available at
http://www.globenewswire.com/NewsRoom/AttachmentNg/a92ab6c5-6d3b-45b2-9fa2-bc98607e7239
http://www.globenewswire.com/NewsRoom/AttachmentNg/b84ad36f-6cfb-42c8-8b02-adb03d44aff7
http://www.globenewswire.com/NewsRoom/AttachmentNg/2879e61b-2904-4f10-b5de-001edabad7ab
http://www.globenewswire.com/NewsRoom/AttachmentNg/697d28d7-8f57-4861-8cdf-3fcdca9da98d
http://www.globenewswire.com/NewsRoom/AttachmentNg/cb950f38-bb47-47ef-b549-22c2512b062a
http://www.globenewswire.com/NewsRoom/AttachmentNg/58e01d37-a685-4d83-8363-02411e7a2509
http://www.globenewswire.com/NewsRoom/AttachmentNg/e2f33f24-36c1-4aad-a9ca-932642ba1f33
http://www.globenewswire.com/NewsRoom/AttachmentNg/b568e003-034b-475a-8a8d-783520d4f164
http://www.globenewswire.com/NewsRoom/AttachmentNg/6296c5d3-43f0-40d5-8fc6-3d7c123af9b3
http://www.globenewswire.com/NewsRoom/AttachmentNg/e7d0efae-b42f-45e5-9a28-98c1740b64e2
http://www.globenewswire.com/NewsRoom/AttachmentNg/9224a469-d760-4628-a1bc-8de63c595401
About SOQUEM
SOQUEM, a subsidiary of Ressources Québec, is a leading player in mineral exploration in Quebec. Its mission is to explore, discover and develop mining properties in Quebec. SOQUEM has participated in more than 350 exploration projects and contributed to major discoveries of gold, diamonds, lithium and other mineral commodities.
About Midland
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, 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, P.Geo., VP Exploration for Midland and Qualified Person as defined by NI 43-101. For further information, please consult Midland’s website or contact:
Gino Roger, President and Chief Executive Officer
Tel.: 450 420-5977
Fax.: 450 420-5978
Email: [email protected]
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.