MONTREAL, May 11, 2021 (GLOBE NEWSWIRE) -- Midland Exploration Inc. (“Midland”) (TSX-V: MD) is pleased to report that several new drilling targets have been identified as a result of a geophysical induced polarization (OreVision IP) survey completed last winter on the Lewis project. The survey was conducted in the vicinity of the new gold discovery made by prospecting on the Lewis project, wholly owned by Midland and located approximately 60 kilometres southwest of the town of Chapais, Abitibi, Quebec.
This new project, acquired in April 2020, consists of 172 claims (95 km 2 ) and covers a strategic position characterized by a regional flexure proximal to the Guercheville-Opawica deformation zone. The Lewis project is located approximately 60 kilometres northwest of the Nelligan deposit, jointly held by Iamgold Corporation (75%) and Vanstar Mining Resources (25%).
Highlights:
- New gold system (Red Giant) with Qtz-Cb-Py over more than 9 metres in channel samples
- 30-km geophysical (OreVision IP) survey identifies several new high-priority targets
- Commencing a prospecting program in preparation for a drilling campaign
New gold-bearing structure : Red Giant
Last October, a mechanical stripping program was conducted to further assess the Red Giant showing discovered by prospecting in the summer of 2020 in the northwest part of the Lewis project, approximately 8 kilometres northeast of the former Lac Shortt mine. These occurrences yielded several anomalous gold values in grab samples, with grades ranging from 0.2 g/t Au to 2.1 g/t Au (see press release by Midland dated October 15, 2020).
Stripping and channel sampling completed in October have confirmed the presence of a new gold-bearing structure over a width of more than 9 metres and a lateral distance of at least 25 metres. The gold-bearing zone is oriented east-west, shows increasing grade/thickness values westward, and remains completely open in this direction. Pyrite mineralization (3-5%) and quartz-carbonate veins are hosted in a mafic volcanic rock with strong ankerite and chlorite alteration. A total of four channel samples spaced 7 to 10 metres apart were collected on this structure over a lateral distance of 25 metres. From west to east, the channel samples yielded the following results:
- Channel #1: 0.35 g/t Au over 9.0 metres (open to the north and south)
- Channel #2: 0.38 g/t Au over 8.0 metres (open to the south)
IP survey identifies new drilling targets
An induced polarization survey totalling approximately 30 kilometres was completed last winter along the extensions of the Red Giant showing. The survey identified several anomalies, many of which remain unexplained. A particularly interesting anomaly was detected approximately 250 metres east of the Red Giant gold showing. This IP anomaly consists of coinciding resistivity and chargeability highs, typical of silicified zones, mineralized silicified zones, and potentially gold-bearing zones.
A prospecting program will begin in the next weeks to investigate these new IP anomalies, in preparation for a maiden drilling campaign.
The Lewis gold property is located approximately 60 kilometres northwest of the Nelligan deposit, which hosts NI 43-101 Inferred Resources of 97 million tonnes grading 1.0 grams per tonne of gold, equivalent to 3.2 million ounces of gold (Source : Nelligan NI 43-101 Technical Report, Oct 22, 2019, Prepared for Iamgold Corp and Vanstar Mining Resources). In addition, approximately 10 kilometres west of the Lewis property, the former Lac Shortt mine historically produced 2.7 million tonnes of ore grading 4.6 g/t Au (Source: MERN-SIGEOM).
Cautionary statements
The true thickness of mineralized zones intersected by channel samples has not been determined with available informations.
Mineralization occurring at the Nelligan and Lac Shortt gold deposits is not necessarily indicative of mineralization that may be found on the Lewis property held by Midland.
Quality Control
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 for every 20 samples. Samples from the Lewis project were analyzed by atomic absorption (AA-23) at ALS Minerals laboratories in Val d’Or, Quebec. All samples are also analysed for multi-elements, using four-acid ICP–AES method (ME-ICP61) at ALS Minerals laboratories in Vancouver, British Columbia.
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., Probe Metals Inc., Wallbridge Mining Company Ltd, Agnico Eagle Mines Limited, Osisko Development Corp., 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, VP Exploration for Midland, certified geologist 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: 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.
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