Montreal, May 16th, 2019. Midland Exploration inc. (“Midland“) (TSX-V : MD) is pleased to announce the results of the first drilling campaign on its wholly owned (100% Midland) Mythril project. The best intersections of this first drilling program were the following:
Each of the ten (10) drill holes in the campaign intersected multiple high-grade Cu-Au-Mo-Ag bearing zones, with a total of forty-four (44) samples that yielded more than 1 % Cu equ*. These zones have been intersected over an area that is 1.7-kilometer-long by up to 500 meters large. The best mineralized zones found in holes MYT-19-06 and MYT-19-01 are both open laterally and at depth. Other significant results are shown in tables and figures accompanying this press release.
*Metal prices used for Cu equ. calculation: Au $1285/oz, Cu $2.77/lb, Ag $15/oz, Mo $10.9/lb. **True thicknesses reported in drill holes cannot be determined with available information. nsv: no significant value
Copper mineralization at Mythril is found in a variably altered foliated granodiorite intrusive, that was previously interpreted as a quartzo-feldspathic paragneiss from limited field exposures. The granodiorite is intruded by barren granitic pegmatite dykes and by variably mineralized equigranular granite dykes. The amount and sizes of both types of dykes increase to the east. Copper mineralization within the granodiorite is closely associated with decimetric to metric zones of potassic alteration, that occur visually as darker and more foliated intervals that are rich in biotite and often with magnetite. This potassic alteration is much stronger and wider in hole MYT-19-06 (section 1300E), which returned the most promising intersections of the campaign yielding 1.41 % Cu equ.* over 12.55 meters. This hole and nearby surface outcrops also contained several mineralized granite dykes, hinting at a more important mineralized intrusive source in the vicinity. A Dipole-Dipole high chargeability anomaly, which extends laterally over more than 600 metres, is directly associated with the intersection in hole MYT-19-06 and remains open laterally and at depth. This highly favorable area will be tested with additional drill holes during the next phase of drilling.
An obvious zonation of sulfides is observed in the spring 2019 drill holes. Pyrite is rather rare and is mostly observed in the southern part of the granodiorite, near its contact with polymictic conglomerates that are found to the south of the granodiorite. As observed in the 2018 surface sampling, chalcopyrite is the dominant sulfide in most of the mineralized zones. However, bornite is more frequent in the northern half of the mineralized area and is the dominant sulfide in hole MYT-19-10, which is the northernmost hole drilled so far. Molybdenite is also much more abundant in that hole versus other nearby holes. The pyrite+chalcopyrite to chalcopyrite±bornite to bornite+molybdenite zonation develops over close to 500 meters on section 600E. Molybdenite is also relatively more abundant in the eastern holes (ex: MYT-19-09). Gold values are relatively higher in the eastern holes (MYT-19-08 and 09) drilled respectively on sections 1800E and 2000E. These kinds of large-scale zonation of sulfides are typical of large magmatic-hydrothermal systems.
A strong and brittle chlorite stockwork was observed over more than 100 meters in drill holes MYT-19-03 and MYT-19-05. It was found to crosscut chalcopyrite zones in these holes. It is believed that this alteration stockwork could represent the upper part of a later and deeper mineralized system. This hypothesis will be tested during the June 2019 drilling campaign.
Up-coming drilling, prospection and soil+lakes geochemical campaigns
Exploration at Mythril will resume at the beginning of June. This important exploration program will include a minimum of 5000 meters drilling campaign, mechanical trenching and channel sampling, XRF-supported soil geochemical surveys, prospecting and geological mapping.
The drilling campaign will test the extensions of the best mineralized zones intersected in the spring campaign (MYT-19-01 and MYT-19-06), that remain open in all directions, and strong unexplained IP anomalies, notably in the eastern extension of the Mythril trend, as well as south of it. The campaign will also test the Arwen high-grade gold boulder field (up to 16.8 g/t in grabs in 2018; see November 6th, 2018 press release), the Haldir mineralized granites and the Council molybdenum zone, that were not tested in the first drilling campaign this spring.
Prospecting and soil geochemical surveys will target various favorable priority targets on the main Mythril claim block, such as unexplained gradient IP chargeability anomalies, magnetic/electromagnetic anomalies from the 2018 airborne survey, historical sulfide occurrences and regional Quebec government lake sediment copper-molybdenum anomalies. An extensive high-density lake sediment survey is also planned and will cover the main Mythril claim block as well as several other claim blocks that were staked in 2018-2019.
Note that grab samples are selective by nature and values reported are not representative of mineralized zones.
Exploration program design and interpretation of results is performed by qualified persons employing a Quality Assurance/Quality Control program consistent with industry best practices, including the use of standards and blanks with every 20 samples. Rock samples on the project are assayed for gold by standard 30-gram fire-assaying with inductively coupled plasma atomic emission spectroscopy (ICP-AES; Au-ICP21) or gravimetric finish (Au-GRA21) at ALS Minerals laboratories in Vancouver, British Columbia. All samples are also analysed for multi-elements, using four-acid ICP–AES method (ME-ICP61), also at ALS Minerals laboratories in Vancouver, British Columbia. Samples that exceed 1% copper, zinc, molybdenum or nickel are reanalyzed by four-acid ICP-AES optimized for high grades.
The technical or scientific information in this press release has been prepared by Sylvain Trepanier, P.Geo., VP Exploration for James Bay and Northern Quebec at Midland, a “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 and base metals. Midland is proud to count on reputable partners such as BHP Billiton Canada Inc., Agnico Eagle Mines Limited, Osisko Mining Inc., SOQUEM INC., Nuvavik Mineral Exploration Fund, 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.
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.