Midland Exploration Inc. and SOQUEM Commence Drilling Program to Test New Targets on Jouvex
TSX VENTURE: MD
MONTREAL, Feb. 13, 2019 (GLOBE NEWSWIRE) -- Midland Exploration Inc. (“Midland”) (TSX-V: MD) is pleased to report the commencement of a drilling program totalling more than 1,800 metres, to test new geophysical targets identified on the Jouvex project. This program is slated to begin in the second week of February 2019.
The Jouvex property consists of 268 claims covering a total of approximately 150 square kilometres. This property with strong gold potential covers the extension, over a strike length of more than 6 kilometres, of the Casa Berardi-Douay-Cameron deformation zone which hosts the Casa Berardi mine located about 65 kilometres to the west and the Douay project located only 7 kilometres to the southeast, where inferred resources are estimated at 2.759 million ounces of gold (84,152,000 tonnes at 1.02 g/t Au) and indicated resources at 479,000 ounces of gold (9,383,000 tonnes at 1.59 g/t Au) (Source: NI 43-101 report by Maple Gold Mines, March 2018). Disclaimer by Midland: Mineralization at the Casa Berardi mine and at the Douay deposit may not be representative of mineralization that may be identified on the Jouvex property.
New exploration targets identified on Jouvex
Two OreVision® IP (IP) surveys totalling approximately 35 kilometres were completed in the northwest and northeast parts of the property in the spring of 2018. These surveys targeted conductors and historic gold occurrences in volcanic rocks of the Orvilliers-Desmazures Group, near the contact with sedimentary rocks of the Taibi Group. A drilling target was defined on the Northwest grid, whereas four drilling targets were defined on the Northeast grid.
On the Northeast grid, the first drill hole will test, at a vertical depth of 400 metres, the extension of a mineralized zone intersected in historic drill hole KMA-88-71, which graded 1.24 g/t Au over 6.8 m (194.38-201.18 m), including 4.4 g/t Au over 0.65 m. This gold value is associated with a quartz eye-bearing mafic intrusive rock, moderately to strongly altered to carbonate and hosting a network of 2-5% fractures and quartz-carbonate veins with 5% pyrite and 1-2% arsenopyrite mineralization. This drill hole will also test a chargeability IP anomaly of moderate intensity. Three additional drill holes will test three different IP anomalies characterized by moderate to strong chargeability combined with high resistivity. These three IP anomalies have never been drill-tested.
On the Northwest grid, the last drill hole will simultaneously test two parallel IP axes located along the extension of known gold occurrences, namely the Q-30 historic showing which graded 1.0 g/t Au over 12.65 m along the north IP axis, and another grading 1.4 g/t Au over 0.7 m and 1.50 g/t Au over 1.4 m along the south IP axis.
Jouvex is a 50/50 joint venture project with SOQUEM INC. (“SOQUEM”).
SOQUEM, a subsidiary of Ressources Québec, is a leading player in mineral exploration in Quebec. Its mission is to explore, discover and develop mining properties in Quebec. SOQUEM has participated in more than 350 exploration projects and contributed to major discoveries of gold, diamonds, lithium and other mineral commodities.
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 SOQUEM INC., Agnico Eagle Mines Limited, Osisko Mining Inc., Altius Minerals Corp., Abcourt Mines Inc and Nuvavik Mineral Exploration Fund. 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, P.Geo., VP Exploration for Midland 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.