Midland Exploration Inc. Completes Its Gradient IP Survey and Identifies New High-Priority Targets Proximal to Mythril and Along Its Extensions
TSX VENTURE: MD
MONTREAL, May 01, 2019 (GLOBE NEWSWIRE) -- Midland Exploration Inc. (“Midland”) (TSX-V: MD) is pleased to report the final results of its gradient array induced polarization (“IP”) survey on its Mythril Cu-Au-Mo-Ag discovery (100% Midland). The IP survey identified several new areas with chargeability anomalies, representing new high-priority targets, along the eastward extension of Mythril.
- A gradient array IP survey (200-metre line spacing) totalling approximately 175 km was completed over a strike length of more than 10 km, identifying several new chargeability anomalies favourably located along the extensions of Mythril. This survey provides new targets located beyond the coverage of the dipole-dipole IP survey that was conducted earlier in the winter.
- An initial drilling campaign comprising ten (10) holes for a total of more than 2,400 metres, has recently been completed to test dipole-dipole IP anomalies combined with geochemical and geological targets (surface occurrences and boulder fields) in the west part of the Mythril mineralized system. More than 2,300 samples are currently being assayed and the results should be released by mid-May. A second phase of drilling, totalling more than 5,000 metres, is in preparation and will begin in early June 2019.
The Mythril discovery occurred in the summer of 2018, during field work conducted by Midland. It is located approximately 7 kilometres south of the Trans-Taiga Road, in Eeyou Istchee James Bay, Quebec, in Archean rocks of the Superior Province.
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. Floats are scattered over almost 3 km strike length. Most of the floats are angular and interpreted to be of local origin. The Cu-Au-Mo-Ag mineralized system is more than 2 kilometers long, based on surface showings. The full dimensions of the system are not known yet. Cu-Mo-Au-Ag showings are found in altered paragneisses as well as in felsic intrusives. There is no historical drilling on the project. Note that grab samples are selective by nature and values reported are not representative of mineralized zones.
Final results of the gradient IP survey
A gradient IP survey, totalling more than 175 line kilometres and covering an area of more than 10 km strike length, was completed along lines at a 200-metre spacing totalling 3.25 km in length. Given its configuration, the gradient IP survey makes it possible to cover more distance per day, thus providing a much larger coverage than a dipole-dipole IP survey for the same cost. In addition, the gradient IP survey can detect anomalies at greater depths than a dipole-dipole array, reaching down to approximately 200 metres vertical depth.
In addition to confirming anomalies initially identified during the dipole-dipole IP survey at Mythril, the gradient IP survey identified several new Mythril-type chargeability anomalies, favourably located for the most part along the eastward extension of Mythril. These high-priority areas, labelled 1E, 2E, 3E, 4E and 5E, are described in greater detail below.
Description of new gradient IP anomalies along the extension of Mythril
1E: This chargeability anomaly was also detected during the dipole-dipole survey conducted earlier in the winter (see press release by Midland dated April 4, 2019). In the gradient IP survey, the anomaly is characterized by a moderate chargeability high, locally associated with strong resistivity lows. The anomaly was detected over a lateral distance of more than 2.2 kilometres, between lines 28+00E and 50+00E, and begins approximately 300 metres northeast of the Council showing.
2E: This new chargeability anomaly is more than 800 metres long and is associated with a resistivity low. It is located directly along the eastward extension of Mythril, approximately 400 metres east of the Council showing. It was detected between lines 30+00E and 38+00E.
3E: Located directly along the eastward extension of Mythril, approximately 800 metres east of anomaly 2E, this new high-priority gradient IP anomaly was identified over a distance of more than 1.8 km, between lines 44+00E and 62+00E. This chargeability anomaly is associated with a resistivity low, typical of the Mythril zone.
4E: This anomaly, characterized by a strong chargeability high coupled with a resistivity low, was detected over a distance of approximately 800 metres but is strongest on lines 72+00E and 74+00E.
5E: Very strong isolated gradient IP anomaly characterized by a chargeability high associated with a resistivity low, located along the possible northeast extension of Mythril. This 600-metre-long anomaly was detected between lines 82+00E and 86+00E.
In addition to these five (5) areas considered high-priority, several other anomalies will be the focus of intense prospecting work during the summer of 2019. Among the latter, a strong chargeability anomaly located south of Mythril, was identified during the gradient IP survey over a distance of more than 3.4 kilometres, between lines 0+00E and 34+00E, approximately 300 to 400 metres south of known Mythril occurrences. This strong chargeability anomaly is largely associated with a major resistivity high, in contrast with the IP anomaly associated with the known Mythril zone. It is important to note that this anomaly was not as clearly defined in the dipole-dipole survey. Consequently, further modelling is currently underway to model the depth of this significant anomaly.
Another local anomaly directly associated with a new isolated airborne conductor, detected during the ProspecTEM Mag-EM helicopter-borne survey conducted in December 2018, will be the focus of prospecting work during the coming summer.
Phase I drilling completed; drilling to resume in June
An initial drilling campaign comprising ten (10) drill holes for a total of more than 2,400 metres was recently completed to test dipole-dipole IP anomalies combined with geochemical and geological targets (surface occurrences and boulder fields) in the west part of the Mythril Cu-Au-Mo-Ag mineralized system. Note that targets located east of the Celeborn showing were not tested during this first phase of drilling.
More than 2,300 samples are currently undergoing ICP analysis at ALS Laboratories in Vancouver; final results are expected by mid-May.
In addition, a second phase of drilling, totalling more than 5,000 metres, is currently in preparation and will begin in early June 2019. This new drilling program will follow up on the recently completed Phase I program and will also test new high-priority IP targets located along the extensions of Mythril. The Mythril mineralized horizon remains open in all directions.
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 maps of the Gradient IP survey presented in this release were completed by Géophysique TMC‘s geophysicist.
The technical or scientific information in this press release has been prepared by Mario Masson, P.Geo., VP Exploration at Midland and 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.