Montreal, February 2, 2017. Midland Exploration Inc. (“Midland”) (TSX-V: MD) is pleased to report the start of a major exploration program on its La Peltrie gold project. This program involves a ground magnetic survey as well as an OreVision® IP (“OreVision”) induced polarization survey at a 200-metre grid spacing, which will be followed by a diamond drilling campaign designed to test the best geophysical and geological targets. This property with strong gold and polymetallic potential is wholly owned by Midland and is located approximately 25 kilometres southeast of Zone 58N, a high-grade gold zone in the Lower Detour area held by Detour Gold Corp. (“Detour Gold”).
The La Peltrie property consists of 517 claims representing a surface area of about 286 square kilometres. It covers, over more than 25 kilometres, a series of interpreted NW-SE-trending subsidiary faults to the south of the regional Lower Detour Fault.
In 2014, Detour Gold announced a series of significant drilling results from the Lower Detour area (Zone 58N), located about 6 kilometres south of its Detour Lake mine. Near-surface mineral reserves at the mine total 14.38 million ounces of gold, including 89.2 million tonnes in proven reserves at a grade of 1.26 g/t Au for 3.60 million ounces of gold (“Moz Au”) and 351.6 million tonnes in probable reserves at a grade of 0.95 g/t Au for 10.78 Moz Au. Best results obtained so far in drilling in Zone 58N in the Lower Detour area include values of 11.82 g/t Au over 32.40 metres, and 12.74 g/t Au over 28.0 metres (see press release by Detour Gold dated June 2, 2014). Phase 2 drilling results include gold values reaching 14.22 g/t Au over 13.0 metres and 28.14 g/t Au over 9.0 metres. Detour Gold completed more than 67,000 metres of drilling in 2016. Based on the geological interpretation of the deposit, several potential ore lenses were defined, from the bedrock surface to a depth of approximately 800 metres. The deposit remains open beyond 800 metres depth. A new drilling campaign totalling approximately 30,000 metres was launched in January 2017 in order to better define the geometry and grade of the deposit from 250 to 450 metres depth (see press release by Detour Gold dated January 30, 2017). Midland cautions that the mineralization on the Detour Gold project may not be indicative of the mineralization that may be identified on the La Peltrie property.
An OreVision induced polarization survey totalling approximately 65 kilometres is currently underway in the west part of the La Peltrie property, about 15 kilometres southeast of Detour Gold’s Zone 58N and less than 2 kilometres from a new high-grade gold intercept obtained in the summer of 2016 by Probe Metals Inc. in partnership with SOQUEM Inc., when a drill hole intersected 17.5 g/t Au over 1.0 metre.
The geophysical survey will be followed, in March, by a diamond drilling campaign totalling at least 1,000 metres, aimed at testing the best geophysical and geological targets.
The La Peltrie property mainly covers the contact between calc-alkaline mafic to felsic volcanic rocks of the Brouillan Group and tholeiitic mafic rocks of the Enjalran Group. It is located about 20 kilometres west of the former Selbaie mine, which historically produced 56.5 million tonnes of ore grading 1.9% Zn, 0.9% Cu, 38.0 g/t Ag and 0.6 g/t Au. The La Peltrie property is also located about 25 kilometres northwest of the B26 deposit held by SOQUEM, which contains indicated resources estimated at 3.93 million tonnes grading 0.88% Cu, 0.38% Zn, 0.34 g/t Au and 12.40 g/t Ag (open pit) and 2.78 million tonnes grading 1.32% Cu, 0.69% Zn, 0.54 g/t Au and 13.32 g/t Ag (underground), as well as inferred resources estimated at 3.95 million tonnes grading 1.57% Cu, 0.84% Zn, 0.38 g/t Au and 10.22 g/t Ag (underground) and 3,000 tonnes grading 1.18% Cu, 0.02% Zn, 0.14 g/t Au and 4.30 g/t Ag (open pit). Midland cautions that the mineralization at the Selbaie Mine and B26 projects may not be indicative of the mineralization that may be identified on the La Peltrie property.
Figures showing the location of the La Peltrie property and the Orevision survey may be consulted using the following link: Click here
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, 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.