Montreal, April 19, 2017. Midland Exploration Inc. (“Midland”) (TSX-V: MD) is pleased to announce that several new drilling targets have been identified following an OreVision® IP (“OreVision”)induced polarization survey conducted on its La Peltrie gold project. This property with strong gold 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 totalling approximately 286 square kilometres and covers, over more than 25 kilometres, a series of interpreted NW-SE-trending subsidiary faults to the south of the regional Lower Detour Fault.
This new OreVision survey, totalling approximately 65 kilometres, was completed in March 2017 on lines at a 200-metre spacing in the west part of the La Peltrie property. The survey was mainly designed to cover an iron formation with anomalous gold values, which has seen very little drill-testing, over a distance of more than 1.5 kilometres. The OreVision survey identified a new high-priority drilling target, characterized by a chargeability anomaly defined over approximately 600 metres, associated with an interpreted NW-SE-trending structure which has never been drill-tested. This anomaly cross-cuts the gold-bearing iron formation, and two historic drill holes, respectively located 250 metres east and 250 metres west of the structure, yielded gold-bearing intercepts grading 0.24 g/t Au over 19.50 metres (drill hole 11-493-01) and 0.35 g/t Au over 9.30 metres (drill hole 11-493-02). Several other new OreVision anomalies were also identified along this iron formation, as well as another very similar gold-bearing iron formation located approximately 3.5 kilometres further west, where historic drill holes yielded anomalous gold values up to 0.14 g/t Au over 19.0 metres (drill hole 1180-97-09).
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
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 new drilling target areas 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 Mining Inc., Altius Minerals Corp., 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.