MONTREAL, Nov. 21, 2019 (GLOBE NEWSWIRE) -- Midland Exploration Inc. (“Midland”) (TSX-V: MD) is pleased to announce that several new high-priority drilling targets were identified following a Gradient array Induced Polarization (“Gradient IP”) geophysical survey conducted in the area surrounding the new Longshot showing discovered in 2019. This new prospective area is located approximately 15 kilometres northwest of the Osborne-Bell deposit held by Osisko Mining (“Osisko”). Cautionary statement from Midland: Mineralization at the Osborne-Bell deposit is not necessarily representative of mineralization that may be identified on the Laflamme property.
During the summer of 2019, Midland completed a Gradient IP survey totalling 54 line kilometres in the vicinity of the new Longshot gold showing, discovered in the winter of 2019. The objective was to identify new anomalies corresponding to chargeability highs combined with resistivity highs and magnetic lows. The targeted combination is set to correspond to the Longshot showing, which is characterized by pyrite mineralization associated with quartz veins and felsic intrusions with iron carbonate alteration in demagnetized zones within the diorite country rock. This type of geophysical combination was identified in several locations within the diorite and will be the focus of the upcoming drilling program.
During the winter 2019 drilling campaign, a new gold showing, dubbed Longshot, was discovered in altered diorite, grading 0.25 g/t Au over 10.0 metres, including 2.19 g/t Au over 0.70 metre, from 117.0 to 127.0 metres in drill hole LAF-19-45. Drill hole LAF-19-46 intersected 0.37 g/t Au over 3.8 metres from 35.0 to 38.80 metres, approximately 500 metres south of hole LAF-19-45. The correlation between the two mineralized zones (pyrite and quartz veins) in holes 45 and 46 and historical IP anomalies is excellent. Note: True thicknesses cannot be determined with the information currently available; intervals are consequently reported in core lengths
The Longshot diorite is favourably located on a regional scale as it borders several historical gold occurrences on Laflamme and is interpreted as an excellent physical and chemical trap for gold mineralization.
This new prospective area is also aligned with a series of gold occurrences discovered by Midland from 2011 to 2013, namely the Piccadilly (9.7 g/t Au over 1.0 m), Trafalgar (0.4 g/t Au over 5.7 m), and Notting Hill (0.34 g/t Au over 25.56 metres) showings, as well as the Comtois NW showing held by Osisko and discovered by Maudore in 2012, which graded 71.2 g/t Au over 1.2 metres. Note: True thicknesses cannot be determined with the information currently available; intervals are consequently reported in core lengths. In addition, the target area of the upcoming drilling campaign is located approximately 15 kilometres northwest of the Osborne-Bell deposit, where Osisko announced new drill intercepts grading up to 37.0 g/t Au over 5.4 metres (see press release by Osisko dated September 28, 2018).
Midland is currently planning a drilling program comprising five (5) holes for a total of more than 1,200 metres of drilling, to test the best Gradient IP anomalies identified within the Longshot diorite intrusion and along its contacts with mafic volcanic rocks. The drilling program is slated to begin in January 2020.
The Laflamme project is located approximately 25 kilometres northwest of the town of Lebel-sur-Quevillon in Abitibi, Quebec, and now consists of a total of 453 claims covering a surface area of approximately 243 square kilometres. The project is a joint venture between Midland (76.3%) and Abcourt Mines Inc. (23.7%) (“Abcourt”).
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 Billiton Canada Inc., Agnico Eagle Mines Limited, Osisko Mining Inc., SOQUEM 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 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, who also approved the technical content of this press release.
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: 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.
Four figures accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/7313a262-2ea2-43e8-83d6-d975ef596a6e
https://www.globenewswire.com/NewsRoom/AttachmentNg/9eaf8717-922c-40d5-b12e-2ad1a1ea86ae
https://www.globenewswire.com/NewsRoom/AttachmentNg/5839c448-a178-4e75-a252-ac61ad03e5de
https://www.globenewswire.com/NewsRoom/AttachmentNg/c806a546-1e8e-4ba8-b284-5b3b34352f35
Figure 1
Laflamme JV Location
Figure 2
Laflamme JV Geology
Figure 3
Longshot Showing
Figure 4
IP-Gradient drilling targets