Midland Exploration Inc. Intersects New High-Grade Cu-Au-Mo-Ag Zones on Mythril
TSX VENTURE: MD
MONTREAL, July 30, 2019 (GLOBE NEWSWIRE) -- Midland Exploration Inc. (“Midland”) (TSX-V: MD) is pleased to report that the phase II diamond drilling campaign, as well as trenching, channel sampling and prospecting work, were completed by mid-July on the Mythril project, wholly owned by Midland.
During the drilling campaign, a mineralized zone with high copper-gold-molybdenum-silver (“Cu-Au-Mo-Ag”) values was intersected in drill hole MYT-19-11, and new boulder fields with high-grade copper were discovered in the west part of the Mythril property during the prospecting campaign. A total of sixteen (16) drill holes totalling 5,200 metres were drilled in phase II. Assay results for samples from drill holes MYT-19-11 to MYT-19-15 have all been received, but assay results for drill holes MYT-19-16 to MYT-19-26 are still pending; they are expected to come in by mid-August. Also pending are the final results of a regional lake sediment sampling program conducted in June.
- Drill hole MYT-19-11 (1300E) intersected a mineralized zone grading 3.00% Cu, 1.59 g/t Au, 0.09% Mo and 21.30 g/t Ag (4.60% CuEq.*) over 3.72 metres (150.95-154.67 m); this zone is included in a wider interval that graded 1.34% Cu, 0.69 g/t Au, 0.04% Mo and 9.54 g/t Ag (2.04% CuEq.*) over 9.00 metres (147.00-156.00 m). This mineralized zone remains open below drill hole MYT-19-11.
- Drill hole MYT-19-12 (300E) intersected an extensive mineralized zone grading 0.17% CuEq.* over 227.10 metres (180.80-407.90 m), including higher-grade intervals such as 2.51% Cu, 0.10 g/t Au, 0.05% Mo and 5.2 g/t Ag (2.82% CuEq.*) over 1.55 metres (266.65-268.20 m) and 2.60% Cu, 0.20 g/t Au, 0.003% Mo and 10.7 g/t Ag (2.83% CuEq.*) over 3.05 metres (383.90-386.95 m).
- Drill hole MYT-19-14 (150E) intersected a mineralized zone grading 3.55% Cu, 0.49 g/t Au, 0.006% Mo and 21.56 g/t Ag (4.07% CuEq.*) over 2.00 metres (114.50-116.50 m); this zone is included in a wider interval that graded 0.93% Cu, 0.12 g/t Au, 0.002% Mo and 5.66 g/t Ag (1.14% CuEq.*) over 9.80 metres (107.50-117.30 m).
- Two channel samples spaced 5 metres apart on the Haldir/Council zone yielded high molybdenum values reaching 0.30% Mo over 2.0 metres and 0.22% Mo over 2.4 metres (open); another channel sample at the western end graded 0.41% Cu, 0.13 g/t Au, 0.04% Mo and 2.3 g/t Ag (0.67% CuEq.*) over 4.40 metres, including 0.67% Cu, 0.21 g/t Au, 0.07% Mo and 3.7 g/t Ag (1.10% CuEq.*) over 1.90 metres (open). The true thickness of mineralized zones intersected by channel samples has not been determined.
- A channel sample on the Celeborn showing returned values of 0.41% Cu, 0.15 g/t Au, 0.01% Mo and 3.0 g/t Ag (0.58% CuEq.*) over 5.10 metres, including 0.81% Cu, 0.28 g/t Au, 0.03% Mo and 7.1 g/t Ag (1.18% CuEq.*) over 1.60 metres.
- Three (3) new mineralized boulder fields were discovered in the west part of Mythril (sections 000E to 300E); grab samples yielded values reaching 12.0% Cu and 0.71% Mo and respective average grades are: 1.18% Cu, 0.25 g/t Au, 0.11% Mo and 14.7 g/t Ag (1.90% CuEq.*) (11 boulders – WF #1); 2.24% Cu, 0.21 g/t Au, 0.08% Mo and 10.2 g/t Ag (2.78% CuEq.*) (10 boulders – WF #2); and 0.84% Cu, 0.35 g/t Au, 0.02% Mo and 18.1 g/t Ag (1.30% CuEq.*) (5 boulders – WF #3). Note that grab samples are selective by nature and values reported are not representative of mineralized zones.
Several other drill intervals with grades of more than 1% CuEq.* were intersected during the drilling campaign. Best results from drill holes MYT-19-11 to MYT-19-15 are listed in the following table:
Table 1: Best results – Drill holes MYT-19-11 to MYT-19-15
|Length m**||CuEq* %||Cu
*Metal prices used to calculate CuEq.: Au $1,285/oz, Cu $2.77/lb, Ag $15/oz, Mo $10.90/lb. Recoveries of 100% of all metals are assumed.
**The true thickness of reported drill intervals cannot be determined with the information currently available.
Copper mineralization at Mythril is hosted in a variably altered, foliated granodiorite intrusion, previously interpreted as a quartz-feldspar paragneiss based on limited outcrop exposures. The granodiorite is cut by barren granitic pegmatite dykes and granitic dykes that host variable mineralization. Copper mineralization in the granodiorite is closely associated with decimeter- to metre-scale potassic alteration zones; visually, the latter are darker and exhibit a stronger foliation, are enriched in biotite and commonly contain magnetite.
Prospecting work will resume in early August on other properties in the region with strong Cu-Au-Mo-Ag potential acquired in 2018 and 2019. A drill rig remains on site at Mythril; an upcoming drilling campaign is in preparation and will be finalized in August once the complete set of assay results comes in.
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.
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.
This press release was prepared by Mario Masson, P.Geo., VP Exploration for Midland and Qualified Person as defined by NI 43-101, who also approved the technical content of this press release. For further information, please consult Midland’s website or contact:
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
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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.