MONTRÉAL, Nov. 29, 2022 (GLOBE NEWSWIRE) -- Midland Exploration Inc. (“Midland”) (TSX-V: MD) is pleased to report the discovery of at least two new gold-bearing structures during a recent prospecting program that took place in October 2022 on the Laflamme JV project.
The Laflamme project is located approximately 25 kilometres northwest of the town of Lebel-sur-Quévillon in Abitibi, Quebec, and currently consists of 436 claims covering a total surface area of about 234 square kilometres. This project is a joint venture between Midland (77.9%) and Abcourt Mines Inc. (“Abcourt”) (22.1%).
Highlights:
- High-grade samples with gold values up to 18.9 g/t Au and 5.67 g/t Au,
- New gold-bearing shear zone grading 3.73 g/t Au.
High-grade samples in shear zone
During a prospecting program conducted in late October 2022, a follow-up on an outcrop with anomalous gold values found by Midland in May 2022 led to the discovery of a high-grade gold zone. Sample A0361338 was collected in a shear zone with strong silica and carbonate alteration, injected with irregular quartz veining associated with 5% fine pyrite. This sample graded 18.9 g/t Au. A second sample, collected in the same zone, 20 cm from the first sample, graded 5.67 g/t Au and exhibits intense silicification. This shear zone is located 500 metres northeast of gold-bearing boulders discovered in May (28.7 g/t Au and 6.0 g/t Au) and may represent the source of these boulders (see press release by Midland dated June 13, 2022).
New gold-bearing shear zone
Also during the October 2022 campaign, a follow-up on a soil sample with anomalous Au-Ag-As-Te-V-W values led to the discovery of a new gold-bearing shear zone. This structure is located 800 metres north-northeast of the gold-bearing boulder and 400 metres northwest of sample A0361338 described above. The structure has a true thickness of approximately 4 metres and is exposed over a distance of approximately 15 metres. The structure exhibits intense silicification and contains 1% to 10% pyrite. Sample A0361269, collected in the central part of the structure, graded 3.73 g/t Au. Two (2) other samples collected from this structure yielded anomalous gold values of 0.363 g/t Au and 0.333 g/t Au.
Summary of work conducted in the vicinity of gold-bearing boulder
Following the discovery of the gold-bearing boulder in May 2022, a variety of work was undertaken in the vicinity of the boulder to locate its source. This work includes a very detailed high-resolution drone-supported magnetic survey with flight lines spaced every 25 metres, a dipole-dipole induced polarization survey along lines at a 100-metre spacing, a soil survey totalling 230 samples along a grid with stations spaced every 25 metres and lines at a 100-metre spacing, and a prospecting program in October targeting anomalies identified by previous work. Based on the results of the latest campaign, Midland intends to pursue exploration work on gold-bearing shear zones in the area, and a stripping program as well as 3,000 metres of drilling are currently being planned.
This new favourable area is located approximately 700 metres southeast of the Notting Hill gold showing discovered in 2013 by Midland, which graded 0.34 g/t Au over 25.56 metres from 144.00 to 169.56 metres in drill hole LAF-13-21. In addition, this new discovery is located approximately 12 kilometres northwest of the Osborne-Bell deposit where Osisko Mining Inc. reported new drill intersections grading up to 37.0 g/t Au over 5.4 metres (see press release by Osisko Mining dated September 28, 2018).
Cautionary statements:
Note that grades determined from grab samples and erratic boulders may not be representative of mineralized zones.
Mineralization occurring at the Osborne-Bell deposit is not necessarily indicative of mineralization that may be found on the Laflamme property.
True thicknesses cannot be determined with the information currently available; intervals are thus reported in core length.
Quality control
Rock samples on the project are assayed for gold by standard 50-gram fire-assaying with atomic absorption finish (Au-AA24) or gravimetric finish (Au-GRA21) at ALS Laboratories in Val-d’Or, Quebec. Exploration programs are designed, and results are interpreted by Qualified Persons employing a Quality Assurance/Quality Control program consistent with industry best practices, including the use of standards and blanks with every batch of 20 samples.
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 BHP Canada Inc., Rio Tinto Exploration Canada Inc., Probe Metals Inc., Wallbridge Mining Company Ltd, Agnico Eagle Mines Limited, Osisko Development Corp.., SOQUEM Inc., Brunswick Exploration Inc., Nunavik Mineral Exploration Fund, 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 Corporation portfolio and generate shareholder value.
This press release was reviewed and approved 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: info@midlandexploration.com
Website: https://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.
Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/e5b96074-4efd-4fd7-8659-d5d4581ffaed
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