JAMES BAY MOLYBDENUM PROJECT

James Bay Molybdenum Presentation (PDF)

Midland Exploration acquired 265 claims located 35 km west of LG-4 hydroelectric complex in the James Bay region. These new claim blocks cover a total surface area of 134.1 km² and owned 100% by Midland . 

The claim blocks cover significant molybdenum and copper anomalies in lake bottom sediments. They lie immediately to the west and peripheral to an important polymetallic (Mo-Cu-Au) hydrothermal breccia system discovered in 1997 by another exploration company following up on the same type of anomaly. In 1998, channel samples collected by this exploration company  in these altered tonalitic breccias yielded grades reaching 0.14% Mo over 89 metres, with grab samples ranging from 0.8 to 4.0% Mo and another grab sample grading 0.13% Cu, 1.97 g/t Au, 0.053% Mo and 12.3 g/t Ag.

 The selected properties are within a broad km-scale halo with anomalous molybdenum and copper values in lake bottom sediments. Properties acquired by Midlandcover strong anomalies ranging up to 426 ppm Mo and 90 ppm Cu, which remain unexplained. These strong yet unexplained anomalies are among the most significant in northern Quebec. Midland is planning some prospecting and geological reconnaissance work this summer, in order to locate the source of the anomalies and better define the geological setting.

 Moreover, SIDEX (Diversification of Exploration Investment Partnership) recently published a bulletin on the outlook of the molybdenum exploration industry in Quebec. SIDEX considers that the area shows potential for the discovery of polymetallic Mo-Cu-Au porphyry systems. The bulletin further states that the James Bay region and northern Quebec offer new opportunities for molybdenum exploration in Quebec.