Midland Exploration Inc. Resumes Drilling and Surface Exploration on Mythril
TSX VENTURE: MD
MONTREAL, June 04, 2019 (GLOBE NEWSWIRE) -- Midland Exploration Inc. (“Midland”) (TSX-V: MD) is pleased to announce that drilling and surface exploration have resumed on its wholly owned (100% Midland) Mythril project. The June/July 2019 exploration campaign on Mythril includes a minimum of 5000 metres of diamond drilling (2 rigs), mechanical trenching and channeling, prospecting, soil geochemistry and geological mapping.
5000-metre drilling campaign
The June/July drilling campaign will have three main objectives:
1) test the lateral and downdip extensions of Cu-Au-Mo-Ag mineralized zones intersected in MYT-19-01 and MYT-19-06;
2) test the Haldir/Arwen/Council showings, that were not tested in the first phase;
3) test strong and unexplained gradient and/or dipole-dipole induced polarization (“IP”) anomalies from the winter 2019 IP survey.
The first two holes of the campaign will target the western and downdip extension of mineralization intersected in MYT-19-01 (section 300E), that yielded 0.23% Cu over 54.0 metres** (0.27% Cu eq.*), including 1.65% Cu, 0.27 g/t Au and 6.88 g/t Ag over 4.93 metres (1.90% Cu eq.*). Hole A will target the downdip extension of the zones, that coincides with an IP anomaly from a geophysical inversion of the combined gradient and dipole-dipole surveys. Hole B will target the western extension of the dipole-dipole chargeability anomaly intersected in MYT-19-01.
Hole C on section 900E will target the downdip extension of a strong brittle chlorite stockwork that was intersected over more than 100 metres 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.
Three holes (E, F, G) will target the extensions of the high-grade mineralized zone found in MYT-19-06, that yielded 1.07% Cu, 0.37 g/t Au, 8.87 g/t Ag (1.41% Cu eq.*) over 12.55 metres, including 3.03% Cu, 1.03 g/t Au, 24.63 g/t Ag (3.94% Cu eq.*) over 4.0 metres, and including 11.8% Cu, 3.96 g/t Au, 81.3 g/t Ag (15.16% Cu eq.*) over 0.6 metre. Hole E will target the western extension of the MYT-19-06 mineralized zone and the same high chargeability/low resistivity IP anomaly. Hole G will target the Luthien outcrop showing (grab sample at 1.32% Cu, 0.45 g/t Au, 0.1% Mo, 12.9 g/t Ag) and a series of high-grade subcropping floats (11 floats, average 1.48% Cu, 0.67 g/t Au, 0.06% Mo, 17.2 g/t Ag from grab samples). The showing and floats are located 50 to 200 metres directly east of MYT-19-06, along the same IP anomaly. Mineralized granites like those encountered in MYT-19-06 were found in these locally derived floats. Hole F will target the down-hole extension of the MYT-19-06 zone.
Hole H will test a dipole-dipole IP anomaly located on section 1300E, about 300 metres north of MYT-19-07.
Hole I will test the Arwen high-grade gold boulder field (up to 16.8 g/t Au in grab samples in 2018; see November 6, 2018 press release), the Haldir mineralized granites and granodiorites (10 outcrop grab samples, average 0.93% Cu, 0.38 g/t Au, 0.15% Mo, 5.2 g/t Ag) and the Council molybdenum zone, which were not tested in the first drilling campaign this spring. These showings are associated with a clear IP chargeability anomaly on the dipole-dipole survey.
Holes D, K, L, and Q will test IP anomalies from a combined gradient/dipole-dipole geophysical inversion, located south of the main Mythril trend, in polymictic conglomerates. These IP anomalies are interpreted to be sourced at 100 to 200 metres depth as they were much stronger on the deeper-penetrating gradient IP compared to the dipole-dipole IP.
Hole J will test an IP anomaly directly in the eastern extension of the Mythril trend, 600 metres east of the Haldir showing. It has the same signature as other anomalies associated with copper mineralization to the west (high chargeability and low resistivity). Copper mineralization is very likely present in that area because a copper-bearing boulder that yielded 0.16% Cu (grab sample) was found in 2018 close to the proposed drill hole and is located far up-ice from known copper showings.
Hole N will test a 1-km-long IP anomaly to the northeast of the Mythril trend. It was not covered directly by the 2018 soil survey, but the closest sample yielded a strong copper-in-soil anomaly.
Hole O will test a gradient IP anomaly that has a favourable combination of high chargeability and low resistivity, and is also coincident with a magnetic anomaly.
Finally, hole M will target an isolated EM anomaly detected by the 2018 airborne survey. It appears to be in tonalites/granodiorites and is associated with a moderate gradient IP anomaly.
Note that grab samples are selective by nature and values reported are not representative of mineralized zones. Results from grab samples were disclosed in the November 6, 2018 and October 16, 2018 press releases.
*Metal prices used for Cu eq. calculations: Au $1,285/oz, Cu $2.77/lb, Ag $15/oz, Mo $10.9/lb. **True thicknesses reported in drill holes cannot be determined with available information.
Prospecting and soil+lake geochemical campaigns
Prospecting and soil geochemical surveys will target various favourable priority areas on the main Mythril claim block, such as unexplained gradient IP chargeability anomalies, magnetic/electromagnetic anomalies from the 2018 airborne survey, historical sulphide 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.
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 was 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.