Montreal, October 4, 2012. Midland Exploration Inc. (“Midland”) (TSX-V: MD) is pleased to announce the acquisition by map designation of 91 new claims on its Jouvex Property and 35 new claims on its Valmond Property, respectively located along and proximal to the Casa Berardi-Douay-Cameron gold-bearing deformation zone in the Abitibi region of Quebec.
The wholly-owned Jouvex Property is located about 50 kilometres southwest of Matagami and now consists of a total of 213 cells covering a surface area of about 119 square kilometres. This new property with strong gold potential encompasses several historical gold showings with drill intercepts grading 6.22 g/t Au over 1.52 metres and 2.18 g/t Au over 1.21 metre. The property also covers, over more than 8 kilometres, a significant regional-scale flexure along the Casa Berardi-Douay-Cameron deformation zone. This major structure hosts gold deposits at the Casa Berardi mine, located about 65 kilometres further west, and the Douay and Douay West deposits located about 7 kilometres to the southeast. The Douay gold deposits contain 2.8 million gold ounces in inferred resources and 238,433 gold ounces in measured and indicated resources (Source: NI 43-101 Report; Aurvista Gold Corporation website).
The Valmond Property, which now consists of 111 claims totalling 62 square kilometres, is located about 8 kilometres north of the Jouvex Property and covers, over more than 15 kilometres, a significant gold-bearing structure trending NW-SE, which hosts several historical gold occurrences with drill intercepts grading 2.3 g/t Au over 4.57 metres and 5.22 g/t Au over 1.55 metres. This structure has seen very little exploration in the past and the main gold showing known to date has been traced over more than 300 metres along strike. The latter is characterized by an extensive hydrothermal alteration zone more than 50 metres wide, and remains open below 200 metres vertical depth, where the deepest historical drill hole yielded a grade of 3.77 g/t Au over 1.50 metres. In addition, a recent helicopter-borne magnetic survey covering the entire property was used to generate a new detailed structural interpretation and define new prospective exploration targets.
Maps showing Midland’s newly expanded Jouvex and Valmond properties may be consulted using the following links:
For Figure 1 – Map of the Abitibi showing the location of the Jouvex and Valmond projects, click here:
For Figure 2 – Magnetic map of the Jouvex Property showing the location of the main gold occurrences, click here:
For Figure 3 – Geological map of the Valmond Property showing the location of the main gold occurrences, click here:
Midland targets the excellent mineral potential and the favourable investment climate of Quebec to make the discovery of new world-class deposits of gold, base metals and rare earth elements. Midland is proud to count on reputable partners such as Agnico-Eagle Mines Limited, Osisko Mining Corporation, Aurizon Mines Limited, North American Palladium Limited, Japan Oil, Gas and Metals National Corporation and SOQUEM Inc. Midland prefers to work in partnership and intends to quickly conclude additional agreements in regard to newly acquired properties. Midland is currently evaluating new opportunities and other projects in order to increase the portfolio of the Company.
This press release was prepared by Mario Masson, VP Midland Exploration 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
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.