Intersect New Gold Mineralization at Casault MONTREAL, Oct. 21, 2021 (GLOBE NEWSWIRE) -- Midland Exploration Inc. (“Midland”) (TSX-V: MD), in partnership with Wallbridge Mining Company Ltd (“Wallbridge”), is pleased to announce the successful completion of an approximately 5,300-metre exploration drill program at its Casault Gold Property (“Casault” or the “Property”), testing various grassroots exploration targets 4 to 12 kilometres west of Wallbridge’s Martiniere Gold Project ("Martiniere") and 34 to 41 kilometres west of Wallbridge’s flagship Fenelon Gold Property ("Fenelon").
The first drill hole (CAS-21-123), for which assay results have been received so far, has intersected new gold mineralization with a visible gold-bearing interval returning 6.85 g/t Au over 2.00 metres from 254.50 to 256.50 metres. This intersection is considered significant, as it is located in the northern, largely untested part of the Casault property, where no gold zone has been known so far, approximately 2 kilometres from the nearest anomalous gold intersections both on the Casault and Martiniere properties.
“This intersection of encouraging gold mineralization in the first drill hole of our Casault program in an entirely grassroots area is not only a testament to our growing understanding of the regional controls on gold deposition in the Detour-Fenelon area but also to the prospectivity of the over 900 square kilometer land package along this underexplored belt,” stated Marz Kord, President & CEO of Wallbridge. “We are keenly awaiting the assay results of other completed holes and are looking forward to following-up this intersection, working toward a discovery at Casault, near our existing Martiniere gold deposit.”
Drill Program Completed
Between July and September 2021, Wallbridge completed a drill program totaling 13 drill holes, testing a variety of grassroots exploration targets at Casault. Drilling has focused on the unexplored northern part of the Property, within 1 to 2 kilometres north of the Sunday Lake Deformation Zone (“SLDZ”), on the same assemblage of rocks that also host Wallbridge’s Martiniere gold system, 5 kilometres east of the closest target tested in the 2021 program, which hosts historic indicated resources of approximately 591,000 gold ounces with an updated resource estimate currently underway.
Hole CAS-21-123, the first drill hole of the program, was testing a prominent NW-SE oriented structure interpreted from airborne magnetics. This structural orientation is known to control gold mineralization at Fenelon and Martiniere, and a series of large structures of this trend also transects the Casault property. The particular structure tested by CAS-21-123 extends for an approximately 8 kilometres across Wallbridge’s Martiniere, Casault and Doigt properties and was historically tested by one drill hole on Martiniere, yielding 30.40 g/t Au over 0.44 metre, which has not been followed-up since.
The intersection of 6.85 g/t Au over 2.00 metres in CAS-21-123 is associated with a mineralized zone consisting of chalcopyrite, pyrite, pyrrhotite, and electrum, a gold-silver mineral phase, within deformed and heavily carbonate-altered host rocks.
The other 12 drill holes of the completed program have also intersected strong shear and alteration zones with sulfide mineralization that are interpreted to potentially be part of gold-bearing systems. Assay results of these drill holes are currently pending and will be released as they become available. A technical meeting will be held in the following weeks to discuss the next follow-up program over this new gold bearing zone.
https://www.globenewswire.com/news-release/2021/10/21/2318135/0/en/Midland-and-Wallbridge-Intersect-New-Gold-Mineralization-at-Casault.html