Montreal, November 1, 2016. Midland Exploration Inc. (“Midland”) (TSX-V: MD) is pleased to report that the latest trenches excavated at the end of August have confirmed the excellent potential associated with a new OreVision-type induced polarization anomaly identified on its Heva gold project. In addition, the recent soil sampling program also identified several new exploration targets that will be the focus of a prospecting campaign in early November. This project is wholly owned by Midland and is located near the prolific Cadillac Break, about 5 kilometres northwest of the Canadian Malartic gold mine, jointly held by Agnico Eagle Mines Limited and Yamana Gold Inc., where proven reserves are estimated at 54.89 million tonnes grading 0.97 g/t Au (1.72 Moz Au) and probable reserves at 166.64 million tonnes grading 1.12 g/t Au (6.0 Moz Au), for a total of 7.72 Moz Au. The Heva Project, acquired by Midland in May 2013 from Arianne Phosphate Inc., consists of two claim blocks, Heva West and Heva East, totalling 33 claims and covering a surface area of more than 1,200 hectares.
Near the end of August 2016, three (3) new trenches were excavated on the Heva Project, one of which (HEV-16-11) was mainly designed to explain a strong OreVision-type induced polarization anomaly identified during a recent test survey. Preliminary sampling in this trench, which exposed sedimentary rocks with silica and biotite alteration, led to the discovery of a new showing with grades reaching up to 13.7 g/t Au in grab sample. This sample was collected in a quartz vein exhibiting visible gold grains. These encouraging results thus confirm the excellent potential of this new OreVision target, which was only partly explained by the trench because of the presence of thicker overburden above the geophysical anomaly. (Note that gold values from grab samples may not be representative of the mineralized zones).
Sampling completed in another trench (HEV-16-10) in the East area, where grades reaching 9.1 g/t Au were previously obtained (see Midland press release dated July 5, 2016), returned values reaching 4.28 g/t Au, 3.26 g/t Au, 3.25 g/t Au, 2.50 g/t Au, 2.48 g/t Au, 2.14 g/t Au, 1.82 g/t Au, and 1.38 g/t Au in grab samples.
Midland will begin a new phase of exploration work shortly, including prospecting, in an effort to explain the new soil geochemistry anomalies, as well as a detailed magnetic survey in order to clarify the geological and structural framework of the property, particularly in the vicinity of the OreVision-type induced polarization target which graded up to 13.7 g/t Au.
Figures showing the location of new results on the Heva Project may be consulted using the following link: Click here
All analysis were performed by ALS Minerals in Val d’Or. All samples were analyzed for gold by fire assay with an atomic absorption finish (AA23) on a fraction of 30 grams and a gravimetric finish for values greater than 3.0 g / t Au. For the quality control, in each transmission, certified standards and blanks were inserted at regular intervals throughout the sequence of samples. The data was reviewed by Mario Masson, VP Exploration for Midland, certified geologist and Qualified Person as defined by NI 43-101.
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 Agnico Eagle Mines Limited, Teck Resources Limited, SOQUEM INC., Osisko Exploration James Bay Inc., Japan Oil and Gas and Metals National Corporation 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
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.