MONTREAL, Oct. 06, 2020 (GLOBE NEWSWIRE) -- Midland Exploration Inc. (“Midland”) (TSX-V: MD), in partnership with Probe Metals Inc. (“Probe”), is pleased to announce the acquisition of 104 new claims adjacent to the La Peltrie option and to provide an update on the exploration program ongoing on both the la Peltrie option and the Gaudet-Fenelon Joint Venture.
Highlights:
- Regional High Definition Heliborne Magnetics Survey Completed
- Regional Geochemical Surveys to be completed by November (1,220 samples)
- 42.5 kilometres of Induced Polarization (“IP”) survey completed on JV Property
- Additional 52 square kilometres of claims staked on the La Peltrie Option
- Drill Program Scheduled for Q1 2021
Gaudet-Fenelon JV property
The Joint Venture Gaudet-Fenelon property (50% Midland / 50% Probe), consists of 226 claims (125 square kilometres) covering 35 kilometres of the Lower Detour Gold Trend (“LDGT”) and is adjacent to Walbridge Mining’s (“Wallbridge”) property hosting the Fenelon, Tabasco and Reaper gold zones. Exploration highlights include historical drilling grading up to 11.4 over 0.6 metre and identification of several Induced Polarisation (IP) anomalies targets along magnetic structures within the LDGT. Summer 2020 exploration work consisted of a new 42.5-kilometre IP survey covering a structural domain similar to the Fenelon Gold Zone. Results from the recently completed IP survey are expected shortly. A property-wide geochemical sampling program is expected to be completed this fall and is designed to prioritize IP anomalies and drill targets. To date, 400 of the 520 geochemical sample sites have been taken across the property. Some local prospecting and geological mapping are also planned in October. A high definition heliborne magnetics survey has been completed over the central part of the property totaling 890 lines-kilometres. An additional 1050 lines-kilometres will be flown in October to complete the airborne magnetic coverage over the JV ground. A drill program is planned for Winter 2021.
La Peltrie Option
The La Peltrie option consists of 539 claims (292 square kilometres) and covers more than 25 kilometres along a series of NW-SE-trending subsidiary faults to the south of the regional LDGT. The property is adjacent and east of the Detour Lake mine property and south of Probe’s 100% Detour Quebec Main block property. In September, Probe began a work program on the La Peltrie option that included a property-scale geochemical sampling program as well as a geologic mapping and prospecting program. To date, 60 rock samples have been collected and 400 of the 700 geochemical sample sites have been sampled across the property. Field crews will work to complete the program before the end of the fall work season. The goal of this program is to highlight areas of interest on the property for follow-up IP work in 2021. In addition, Probe will complete a high definition heliborne magnetics survey on the property during the month of October.
Cautionary statement :
Mineralization occurring at Fenelon, Tabasco and Reaper zones is not necessarily indicative of mineralization that may be found on projects held by Midland/Probe described in this press release.
About Probe
Probe Metals Inc. is a leading Canadian gold exploration company focused on the acquisition, exploration, and development of highly prospective gold properties. The Company is committed to discovering and developing high-quality gold projects, including its key asset the Val-d’Or East Gold Project, Quebec. The Company is well-funded and controls a strategic land package of approximately 1,000-square-kilometres of exploration ground within some of the most prolific gold belts in Quebec. The Company was formed as a result of the sale of Probe Mines Limited to Goldcorp Inc. in March 2015. Newmont Corporation currently owns approximately 12% of the Company.
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 Probe Metals Inc., Wallbridge Mining Company Ltd., 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.midlan d exploration.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.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/41456b18-5954-49f3-b610-3f46659ebede
