Montreal, June 9, 2015. Midland Exploration Inc. (“Midland”) (TSX-V: MD) is pleased to announce the resumption of diamond drilling on the Casault gold project in partnership with SOQUEM Inc. (“SOQUEM”), with a drilling program totalling a minimum of 4,300 metres in 15 holes using two drill rigs. The Casault property covers the Sunday Lake Fault over more than 20 kilometres strike length and is located about 40 kilometres east of the Detour Lake mine, where near-surface proven and probable mineral reserves (NI 43-101) currently stand at 15.0 million ounces of gold (Source: Detour Gold Corporation website).
This new drilling program on Casault will test several favourable areas identified during the 2015 winter program. These areas include the new gold-bearing felsic porphyry (“QFP”) intrusion identified in drill hole CAS-15-44, whose southern contact with magnetic gabbros remains entirely unexplored. This drill hole intersected a series of silica, sericite, and hematite alteration zones with anomalous gold values (> 100 ppb Au) occurring discontinuously over more than 100 metres and locally grading up to 0.47 g/t Au over 1.0 metre, from 146.0 to 147.0 metres. In the same area, another drill hole will test a structure trending north-south, parallel to the Bug Lake Fault, that was recently uncovered following a new geological and structural interpretation. This highly prospective area is located about 5.5 kilometres west of the Bug Lake zone held by Balmoral Resources Ltd (“Balmoral”), which also hosts felsic porphyry intrusions and where a drill intersection grading 19.55 g/t Au over 44.45 metres was recently reported (Source: press release by Balmoral dated April 20, 2015).
Also in this campaign, another drill hole will test a network of subhorizontal gold-bearing quartz-carbonate veins identified in the vicinity of drill hole CAS-12-07, which yielded a grade of 10.4 g/t Au over 1.45 metres during the 2012 campaign (see press release by Midland dated April 26 2012). The remaining drill holes planned during this campaign will mainly test the area where the Bug Lake Fault and the Sunday Lake Fault intersect, as well as several new induced polarization anomalies and electromagnetic conductors identified during the winter 2015 geophysical program. Diamond drilling will begin as soon as all permits for which applications have been filed are received.
About Midland Exploration
Midland targets the excellent mineral potential of Quebec to make the discovery of new world-class deposits of gold, platinum group elements, base metals and rare earth elements. Midland is proud to count on reputable partners such as SOQUEM INC., Teck Resources Limited, Agnico Eagle Mines Limited, Sphinx Resources Ltd, Japan Oil and Gas and Metals National Corporation. 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.
About SOQUEM INC. and Investissement Québec
SOQUEM INC. is a wholly-owned subsidiary of Ressources Québec, which is a subsidiary of Investissement Québec. Investissement Québec’s mission is to promote growth and investment in Quebec, thereby contributing to economic development and job creation in all regions of the province. It offers businesses a full range of financial solutions, including loans, loan guarantees and equity investments to provide support at every stage of their development. It also administers tax measures and oversees prospecting for foreign investment.
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
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.