Montreal, November 6, 2018. Midland Exploration Inc. (“Midland“)(TSX-V: MD) is pleased to announce the results of the October 2018 prospecting campaign on the Mythril project (100% Midland) in the James Bay region of Quebec. The copper-gold-molybdenum-silver mineralized system has now been identified over more than 2 kilometers on surface (0.7 km in September) and remains open in both directions (E-W). The mineralized system is interpreted based on surface Cu-Au-Mo-Ag showings. The complete dimensions of the mineralized system are not yet known.
Highlights
- Discovery of several new Cu-Au-Mo-Ag showings and one new Mo-only showing (3.04% Mo), extending the mineralized system from 0.7 kilometers to more than 2 kilometers strike length, open east and west.
- Average values over 45 mineralized (>0.1 % Cu) grab samples from these new showings are: 2.04 % Cu, 0.36 g/t Au, 0.11 % Mo, 17.6 g/t Ag (2.85 % Cu Eq*). Maximum values of : 12.65 % Cu ; 1.7 % Mo ; 1.51 g/t Au ; 69.8 g/t Ag.
- Fifty-six (56) new Cu-Au-Mo-Ag mineralized floats (>0.1 % Cu) discovered in the eastern and western extensions of the system. Average values of 1.33 % Cu, 0.52 g/t Au, 0.09 % Mo, 13.3 g/t Ag (2.12 % Cu Eq*) over 56 floats (grab samples). Maximum values of : 16.95 % Cu; 4.91 g/t Au; 0.44 % Mo; 49.4 g/t Ag. Most of the floats are angular and are interpreted to be locally derived (<100m transport distance).
- Midland significantly increased its land position around the discovery and plans to start geophysical surveys in the coming weeks.
The following tables summarize the results of new showings and major new float fields found in October on the mineralized system.
Table 1: Summary of major new Cu-Au-Mo-Ag showings found in October 2018
Table 2: Summary of new floats found in October 2018
Metal prices for the Cu Eq calculation: Au $1200/oz, Cu $2.83/lb, Ag $14/oz, Mo $11.8/lb.
*ns= non-significant result
Note that grab samples are selective by nature and grades obtained are not representative of mineralized zones.
The Mythril Project is located approximately 7 kilometers south of the Trans-Taiga Highway, Eeyou Istchee / James Bay, Quebec. In only 4 days of prospecting between June and September 2018, four (4) new surface Cu-Au-Mo-Ag showings were found, which yielded grades such as 2.74% Cu, 0.44 g/t Au, 0.06% Mo and 24.3 g/t Ag over 2.7 meters in channels (Celeborn showing). In addition, fifty-four (54) new high-grade mineralized boulders were found. The average grade of the 54 blocks was 2.61% Cu, 1.25 g/t Au, 0.13% Mo and 28.7 g/t Ag (grab samples).
Description of new clues and boulder fields found in October 2018
The new “Luthien” showing was discovered approximately 300 meters west of the Legolas showing, the westernmost significant showing previously known. The Luthien showing is a magnetite-chalcopyrite mineralized level at least 0.5 meter thick, at the bottom of a biotite gneiss outcrop. It graded 1.32% Cu, 0.45 g/t Au, 0.1% Mo and 12.9 g/t Ag in grab samples. Eleven (11) mineralized boulders were found near the showing. Grab samples from the 11 blocks averaged 1.48% Cu, 0.67 gt Au, 0.06% Mo and 17.2 g/t Ag, with maximum grades of : 4.95% Cu; 2.14 g/t Au; 0.27% Mo; 44.4 g/t Ag. About 200 metres west of the Luthien showing, a 10-centimetre thick quartz-molybdenite vein also assayed 3.04% Mo in a grab sample.
The new “Eriador” showing was discovered about 550 meters west of Luthien. Four distinct mineralized levels containing stringers of massive chalcopyrite as well as disseminated chalcopyrite and magnetite were discovered. The mineralized levels vary from 0.5 to 1.5 meters in thickness and are hosted in biotite gneisses. Nineteen (19) samples selected of these mineralized levels yielded an average of 2.47% Cu, 0.29 g/t Au, 0.13% Mo and 22.1 g/t Agand maximum values of : 12.65 % Cu; 1.02 g/t Au; 1.7 % Mo; 69.2 g/t Ag. About 25 meters west of Eriador, 7 subcrop boulders were sampled, which averaged 3.33% Cu, 0.55 g/t Au, 0.003% Mo and 18 g/t Ag in grab samples, with maximum grades of : 16.95% Cu; 3.09 g/t Au; 0.02% Mo; 43.8 g/t Ag.
The “Misty” showing is located 60 meters northwest of Eriador. It consists of an outcrop with four distinct mineralized levels that are each 10 to 20 centimeters thick. These mineralized levels assayed an average of 1.53% Cu, 0.31 g/t Au, 0.02% Mo and 14 g/t Ag six (6) selected sampleswith maximum contents of : 2.92% Cu; 0.84 g/t Au; 0.12% Mo; 28.7 g/t Ag.
The new “Liv” clue was discovered 300 meters west of Eriador. On the outcrop, several mineralized levels 20 to 50 centimeters thick composed of massive chalcopyrite stringers with disseminated magnetite are observed in the biotite gneiss. Quartz veins with massive chalcopyrite clusters are also observed. Mineralized levels in the outcrop averaged 3.25% Cu, 0.61 g/t Au, 0.12% Mo and 29 g/t Ag from five (5) grab samples, with maximum grades : 9.53% Cu, 1.51 g/t Au; 0.24% Mo; 55.6 g/t Ag.
The new “Grey Havens” clue was found 400 meters west of Eriador. This is the most westerly showing found to date, and is located more than 2 kilometers west of the Haldir showing. It consists of a quartz vein about 10 centimeters thick with massive chalcopyrite clusters in the sponge, which gradually becomes more disseminated in the host gneiss. A grab sample from the vein and its footwall graded 9.22% Cu, 0.69 gt Au and 69.8 g/t Ag. Massive magnetite+chalcopyrite zones several centimetres thick are also injected into the gneiss foliation, and assayed 1.3% Cu, 1.00 g/t Au, 0.02% Mo and 11 g/t Ag in a grab sample. Three strongly mineralized chalcopyrite±magnetite boulders were also found up to 250 metres west of the Grey Havens showing. They returned an average of 2.87% Cu, 0.22 g/t Au, 0.02% Mo and 32.8 g/t Ag in grab samples, with up to 4.15% Cu.
The “Forgotten” showing is located 150 meters west of Eriador. It is a felsic gneiss containing pyrite±chalcopyrite stringers. A grab sample from the outcrop assayed 0.85% Cu and 0.01% Mo, while a sub-in-place block assayed 1.05% Cu and 0.07% Mo.
The new Haldir showing was found approximately 50 meters northeast of the Arwen boulder field (found in September 2018), in the eastern extension of the mineralized system. Several outcrops of paragneiss distributed over a length of about 30 meters gave an average of 0.93% Cu, 0.38 g/t Au, 0.15% Mo and 5.2 g/t Ag of ten (10) selected sampleswith maximum contents of : 2.75% Cu; 1.31 g/t Au; 1.15% Mo; 15.5 g/t Ag. The mineralized zone was observed in outcrop to be at least 2 meters wide. Mineralization in outcrop consists of chalcopyrite stringers in paragneiss showing strong potassic alteration (biotite-muscovite). In addition, nineteen (19) angular boulders of local origin were also found around the showing. These 19 blocks averaged 0.67% Cu, 0.44 g/t Au, 0.18% Mo and 8 g/t Ag with maximum grades of: 1.92% Cu; 1.03 g/t Au; 0.44% Mo; 23.8 g/t Ag. In addition to the mineralized paragneiss, there are also disseminated chalcopyrite-molybdenite felsic intrusions that are not observed in outcrop, suggesting additional mineralization beneath the surface deposits.
Three new mineralized boulders were discovered in the Arwen boulder field, which had graded up to 16.8 g/t Au in September. These three new blocks had an average grade of 1.1% Cu, 2.2 g/t Au, 0.03% Mo and 17.8 g/t Ag, with maximum grades of : 2.47% Cu; 4.9 g/t Au; 0.05% Mo; 30.1 g/t Ag.
Beginning about 25 meters northeast of Haldir, abundant centimetric molybdenite flakes were found in a foliated felsic intrusion outcrop a minimum of 50 meters long by 3 meters wide (new Council showing). This index will be evaluated in the future by tight grooving. An approximately 20-centimetre wide band of chalcopyrite mineralization was also discovered in a portion of the same outcrop, which graded 0.2% Cu, 0.18 gt Au, 0.02% Mo and 2.5 g/t Ag in a grab sample (“Lindir” showing). In addition, five (5) new chalcopyrite-molybdenite mineralized felsic intrusions were found near the outcrop, and averaged 0.29% Cu, 0.2 g/t Au, 0.08% Mo and 3 g/t Ag.
A new chalcopyrite-mineralized paragneiss block with strong potassic alteration was found about 600 meters east of the Lindir showing. It graded 0.17% Cu, 0.05 g/t Au and 4.7 g/t Ag in a grab sample. Its grade is lower but is otherwise very similar to many other mineralized paragneiss blocks found further west. This block is up-ice of the known showings; therefore, it probably comes from undiscovered Cu-Au-Mo-Au mineralization located at least 600 meters east of the Lindir showing (the easternmost known to date).
Extensive soil geochemistry survey
An extensive soil geochemistry survey (Horizon B) was also conducted to cover the known mineralized system and its eastern and western extensions. The survey was approximately 3.8 kilometers long, with lines at 100 meters and samples at 15 meters along the lines. Results will be available in the coming weeks.
New extensive field position and future work
Midland is very pleased with these new results obtained in only 4 days of prospecting in October, before the arrival of winter conditions in the area. The mineralized system has now been identified over approximately 2 kilometers based on surface Cu-Au-Mo-Ag showings (0.7 kilometers in September), and remains open to the east and west.
Following this very significant discovery, Midland is in the process of obtaining claims on other areas deemed favourable, based on observations made on known showings, public data and reconnaissance work performed by Midland during the summer. A high-resolution airborne magnetic and electromagnetic survey as well as a ground-based induced polarization survey are planned for the next few weeks in the area of the discovery.
Quality control
The design of the exploration program and the interpretation of the results is performed by qualified personnel using a quality assurance/quality control program that conforms to industry best practices, including the use of standards and blanks for every 20 samples. Rock samples from the project are analyzed by standard fire assay on 30-gram fractions with either an inductively coupled plasma spectroscopy finish (ICP-AES; Au-ICP21) or gravimetric finish (Au-GRA21) at ALS Laboratories in Vancouver, British Columbia. All samples were also analyzed for several elements by a four acid dissolution ICP-AES method (ME-ICP61). Samples exceeding 1% copper, zinc or nickel were reanalyzed by ICP-AES 4-acid optimized for high content.
This press release was prepared by Sylvain Trépanier, P.Geo., Vice President, James Bay and Northern Quebec Exploration at Midland, a “qualified person” as defined by NI 43-101.
About Midland
Midland is counting on Quebec’s excellent mineral potential to make the discovery of new deposits of world-class gold, platinum group elements and base metals. Midland is proud to count on reputable partners such as Agnico Eagle Mines Ltd, IAMGOLD Corporation, Osisko Mining Inc, Altius Minerals Corporation, SOQUEM INC, NioBay Metals Inc, Nunavik Mining Exploration Fund and Abcourt Mines Inc. Midland prefers to work in partnership and intends to quickly conclude agreements in this regard with respect to its newly acquired properties. Management is currently evaluating other opportunities and projects to enhance the Company’s portfolio and create added value for shareholders.
For further information, please consult Midland’s website or contact
Gino Roger, President and Chief Executive Officer
Tel. : 450 420-5977 : 450 420-5977
Fax : 450 420-5978 : 450 420-5978
E-mail : info@midlandexploration.com
Website: www.explorationmidland.com
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. –
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