MONTREAL, March 19, 2019 (GLOBE NEWSWIRE) -- Midland Exploration inc. (“Midland“) (TSX-V : MD) is pleased to announce the beginning of the first diamond drilling campaign on its wholly owned (100% Midland) Mythril Cu-Au-Mo-Ag discovery. This campaign is planned to begin in the next few days. The drilling campaign will target a >2km long by hundreds of meters large series of dipole-dipole induced polarization (“IP”) anomalies that are coincident with Cu-Au-Mo-Ag surface showings and float fields discovered by Midland in 2018, as well as with strong Cu-Mo soil anomalies. This initial campaign will consist of 9 holes for about 2200 meters.
The Mythril discovery is located about 7 kilometres south of the Trans-Taïga road, James Bay Eeyou Istchee, Quebec. It is hosted in Archean rocks of the Superior province. In only nine days of prospecting in 2018, 11 new surface copper-gold-molybdenum-silver showings, and 2 molybdenum-only showings, were found, yielding values such as 2.74 % Cu, 0.44 g/t Au, 0.06 % Mo, 24.3 g/t Ag over 2.7 meters in channels on the Celeborn showing (open all directions). Fifty-seven (57) grab samples from mineralized outcrops along 2 km strike length returned an average of 2.03 % Cu, 0.48 g/t Au, 0.18 % Mo, 18.3 g/t Ag. One hundred and sixteen (116) mineralized floats were found, yielding an average of 1.92 % Cu, 0.87 g/t Au, 0.11 % Mo, 20.7 g/t Ag. Note that grab samples are selective by nature and values reported are not representative of mineralized zones. The Cu-Au-Mo-Ag mineralized system is more than 2 kilometers long, based on surface showings and its full dimensions of the system are not known yet. There is no historical drilling on the project. Preliminary results of a dipole-dipole IP geophysical survey performed during the winter of 2019 indicate a large zone (>2km long, by hundred meters large) of anomalously high chargeability coupled with decreases of resistivity that are remarkably coincident with known Cu-Au-Mo-Ag mineralized showings and float fields, as well as with Cu-Mo soil anomalies. See February 28th, 2019 press release for more details on the IP survey. Outcrops, channels and float samples results discussed in this press release were previously disclosed in the October 16th, 2018 and the November 6th, 2018 press releases.
This more than 2 kilometers long IP anomaly, that combines both an increase of chargeability and a decrease of electrical resistivity, will be designated as the “main IP anomaly” in the following descriptions of drill hole targets.
The first two drill holes of the campaign will target the western part of the main IP anomaly on line 3+00E, in an area where it is about 200 hundred meters large*, and coincident with a strong magnetic anomaly. Very strong and unexplained Cu soil anomalies are also found in that area (up to 0.12% Cu in soils). Two strongly mineralized floats found in this area in 2018 respectively yielded 4.15 % Cu, 0.27 g/t Au, 0.04 % Mo and 29 g/t Ag, and 2.99 % Cu, 0.13 g/t Au, 0.03% Mo and 47.6 g/t Ag (grab samples).
The next two holes will target the widest part of the main IP anomaly on line 6+00E, where it is almost 300 meters large*. The first hole will first test the Grey Havens showing at a shallow depth (up to: 9.22 % Cu; 0.99 g/t Au; 0.02 % Mo; 69.8 g/t Ag, in two outcrop grab samples). It will also test the Liv showing (5 outcrop grab samples, average 3.25 % Cu, 0.61 g/t Au, 0.12 % Mo, 29 g/t Ag, with up to 9.53 % Cu). The second hole on that same line will target the strongest part of that large chargeability anomaly and will be collared about 240 meters north of the first one.
The next hole will target the main IP anomaly on line 9+00E, where it is about 100 meters large*. It will also test the Eriador showing (19 outcrop grab samples, average 2.47 % Cu, 0.29 g/t Au, 0.13 % Mo, 22.1 g/t Ag, and up to 12.6% Cu) and the Misty showing (6 outcrop grab samples, average 1.53 % Cu, 0.31 g/t Au, 0.02 % Mo, 14 g/t Ag).
The main IP anomaly will also be tested on line 13+00E. The IP anomaly is about 200 meters large* in this location. A series of 11 angular floats that yielded an average of 1.48 % Cu, 0.67 g/t Au, 0.06 % Mo and 17.2 g/t Ag (grab samples) were found in the area in 2018. A quartz-molybdenite vein also returned 3.04 % Mo (Lorien showing). A second hole on that same line will test the northern part of the IP anomaly.
The next hole will be on line 18+00E. The main IP anomaly is about 75 meters large* there. It will also test the Legolas showing (grab sample from outcrop that yielded 4.89 % Cu, 1.5 g/t Au and 46 g/t Ag), and a field of 6 angular floats that yielded an average of 2.28 % Cu, 0.81 g/t Au, 0.11 % Mo and 20.8 g/t Ag in grab samples.
The final hole of the campaign is planned on line 20+00E. It will test a part of the IP anomaly that is associated with the Celeborn showing, that yielded 2.74% Cu, 0.44 g/t Au, 0.06% Mo, and 24.3 g/t Ag over 2.7 meters in channels (open in all directions). In the immediate area around the showing, 22 floats were found in 2018 that yielded an average of 4.2 % Cu, 0.95 g/t Au, 0.19 % Mo and 40.9 g/t Ag, in grab samples.
*based on the true chargeability of a numerical inversion, at 40 meters depth
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.
Geophysical data presented in this release are preliminary. Inversions were performed by geophysicists from Géophysique TMC.
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 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.