Montreal, November 27, 2012. Midland Exploration Inc. (“Midland”)(TSX-V: MD) is pleased to report that several new drilling targets have been identified on its Laflamme property, along strike from the recent gold discovery by Maudore Minerals Ltd (“Maudore”) about 12 kilometres northwest of the Comtois gold deposit. The Laflamme project, currently a 50/50 joint venture with North American Palladium Ltd (“NAP”), consists of 724 claims totalling about 370 square kilometres and is located about 25 kilometres northwest of the town of Lebel-sur-Quévillon in Quebec.
During the fall of 2012, ground-based geophysical surveys, namely electromagnetic (“Max-Min”) and induced polarization (“IP”) surveys, were completed over four grids. The latter covered electromagnetic targets identified during the VTEM-type helicopter-borne survey, as well as geological and structural targets located along the strike extensions of the recent gold discovery by Maudore, less than 500 metres from the Laflamme property limits. Maudore reported drill intersections grading 71.7 g/t Au over 1.2 metres, and 0.8 g/t Au over 40.8 metres, about 12 kilometres northwest of the Comtois gold deposit (Source: Press release by Maudore dated June 6, 2012).
On Laflamme, a Max-Min electromagnetic survey was completed over the EM-16 grid about 3 kilometres northeast of the Maudore discovery, and an IP survey was carried out over the AU-11 grid located less than 1 kilometre northwest of the Maudore discovery. Two other IP surveys were completed over the TCB-1 and TCB-2 grids, respectively located 5 and 7 kilometres further west. A weak Max-Min conductor some 500 metres in length was identified on the EM-16 grid, and two 400-metre-long IP chargeability trends were defined along the edge of a folded magnetic anomaly on the AU-11 grid. On the TCB-1 grid, a northeast-trending IP chargeability anomaly some 500 metres in length was identified, whereas a 400-metre-long IP chargeability trend was detected on the TCB-2 grid.
In addition, two other anomalies (EM-15 and EM-9), respectively located 2 kilometres northeast and 1 kilometre southwest of the Maudore discovery, were modelled directly using electromagnetic responses obtained during the VTEM helicopter-borne survey; these also represent high-priority targets ready to be drill-tested.
An important drilling program designed to test these new targets is expected to begin early in 2013 and will consist of a minimum of 2,500 metres.
The Laflamme property covers more than 50 kilometres of favourable stratigraphy and structures with potential for orogenic gold, volcanogenic massive sulphides (Cu-Zn), and magmatic Ni-Cu-PGE deposits associated with ultramafic rocks. This property was initially acquired in 2008 based on the presence of significant gold, copper and zinc anomalies in till, identified under the Octave project jointly led by the Ministère des Ressources naturelles et de la Faune (MRNF) and the Geological Survey of Canada (GSC).
Maps showing the location of the Laflamme property and the drilling targets may be consulted using the following links:
For Figure 1 – Map of the Abitibi showing the location of the Laflamme project, click here: http://media3.marketwire.com/docs/Midland_fig1.pdf
For Figure 2 – Regional geology map showing the location of the drilling targets, click here: http://media3.marketwire.com/docs/Midland_fig2.pdf
For Figure 3 – Total magnetic field map showing the location of the drilling targets, click here: http://media3.marketwire.com/docs/Midland_fig3.pdf
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 North American Palladium Limited, Osisko Mining Corporation, Agnico-Eagle Mines 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.
About North American Palladium Ltd
NAP is an established precious metals producer that has been operating its flagship Lac des Iles (LDI) mine located in Ontario, Canada since 1993. LDI is one of only two primary producers of palladium in the world, and is currently undergoing a major expansion to increase production and reduce cash costs per ounce. NAP also operates the Vezza gold mine located in the Abitibi region of Quebec. The Company’s shares trade on the NYSE MKT under the symbol PAL and on the TSX under the symbol PDL. For more information, please visit www.nap.com.
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.