Montreal, November 27, 2018. Midland Exploration Inc.’s (“Midland“)(TSX-V: MD) is pleased to announce the acquisition of new claims by map staking on the Mythril Cu-Au-Mo-Ag project in the James Bay region, as well as a significant position in other favourable areas with the acquisition by map staking of six (6) new claim blocks.
In addition, Midland will soon begin a major helicopter-borne magnetic and electromagnetic survey on the main block surrounding the Mythril discovery. A Dîpole-Dîpole (PP-Dipole-Dipole) and gradient (PP-Gradient) induced polarization survey will follow next winter to cover the Mythril discovery and its extensions.
- Midland is solidifying its land position by map-designating several new claims in the area with a total of 1,581 active claims covering an area of approximately 804 square kilometers.
- Beginning of a new 2,300 line-kilometre helicopter-borne Mag-EM survey, followed by a 195 line-kilometre IP-Dipole and IP-Gradient survey in early winter 2019.
- Results of the soil survey have been received and confirm its effectiveness as a technique. In addition to confirming the corridor containing the known showings and boulder fields, this survey identified a new anomalous area further east.
Table 1: Summary of top Cu-Au-Mo-Ag indices found in 2018.
Table 2: Summary of the best boulders found in 2018.
*Metal prices for the Cu Eq calculation: Au $1200/oz, Cu $2.83/lb, Ag $14/oz, Mo $11.8/lb with 100% assumed metal recovery.
Note that the samples chosen are selective in nature and the grades obtained are not representative of the mineralized zones.
Table 3: Summary of Celeborn and Galadriel channel results
Note that the true groove thicknesses cannot be determined with the available information
Mythril; A significant new Cu-Au-Mo-Ag discovery at James Bay
The Mythril discovery is located approximately 7 kilometers south of the Trans-Taiga Highway, in the James Bay Eeyou Istchee territory of Quebec. In only 4 days of prospecting between June and September 2018, four (4) new high-grade Cu-Au-Mo-Ag showings found on surface returned values such as 2.74% Cu, 0.44 g/t Au, 0.06% Mo and 24.3 g/t Ag over 2.7 meters in channel (Celeborn Showing). In addition, fifty-four (54) new high-grade mineralized boulders were found. The average grade of these 54 blocks was 2.61% Cu, 1.25 g/t Au, 0.13% Mo and 28.7 g/t Ag (grab samples). The mineralized corridor was identified over more than 700 meters during this first phase
During the month of October, four (4) additional days of prospecting extended this mineralized corridor from 700 meters to more than 2 kilometers (remains open to the east and west). Nine (9) new showings returned average values of 2.04% Cu, 0.36 g/t Au, 0.11% Mo and 17.6 g/t Ag (from 45 grab samples of >0.1% Cu), with maximum values of up to 12.65% Cu; 1.51 g/t Au, 1.7% Mo; 69.8 g/t Ag) In addition, fifty-six (56) new Cu-Au-Mo-Ag mineralized boulders (>0.1% Cu) were discovered in the eastern and western extensions of the system with average values of 1.33% Cu, 0.52 g/t Au, 0.09% Mo and 13.3 g/t Ag, and maximum values of : 16.95% Cu; 4.91 g/t Au; 0.44% Mo; 49.4 g/t Ag. The majority of the boulders are angular and their sources are interpreted as being very local (<100m transport distance).
Significant claim acquisition; An important regional land position
The Mythril property, host to the Cu-Au-Mo-Ag showings discovered in September and October 2018, has been expanded and currently consists of a total of 603 claims covering an area of approximately 307 square kilometers. A new property located 1 kilometer east of the Mythril project was acquired and consists of a total of 408 claims covering 207 square kilometers. A second property of 374 claims for 189 square kilometers is located 21 kilometers northeast of the Mythril project and a third property consisting of 93 claims covering 47 square kilometers was acquired approximately 49 kilometers east-northeast of Mythril. The fourth and fifth new properties, consisting of 84 and 9 claims respectively, cover 43 and 4 square kilometers and are located approximately 31 southeast and 41 kilometers east of Mythril. The sixth property is located 27 kilometers north of Mythril and consists of 10 claims covering an area of 5 square kilometers.
These new claim acquisitions are located in areas deemed favourable based on observations made on known showings, public data and reconnaissance work completed by Midland during the summer. All these claims are 100% owned by Midland. These new properties also cover the best lake sediment Cu-Mo anomalies identified from the government’s regional surveys.
Extensive soil geochemistry survey; New target area identified
During the October program, Midland also completed a soil geochemistry survey (Horizon B) covering the known mineralized system and its possible extensions to the east and west. A total of 328 soil samples were collected over a distance of 3.8 kilometers in length on lines spaced 100 meters apart with samples collected every 15 meters along the lines. The survey confirmed the presence of the mineralized corridor between the known mineralized zones in outcrop and in the boulder fields. This survey returned values up to 0.12% Cu, 80 ppm Mo, and 0.1 g/t Au. In addition, this survey identified a new target zone to the east within the extension of the known mineralized corridor with values up to 116 ppm Cu.
Upcoming geophysical surveys; Effective tools for identifying new targets
A high-resolution magnetic and electromagnetic helicopter-borne survey as well as an induced polarization survey are planned for the next few weeks in the area of the discovery. Since this area has not been flown with a modern electromagnetic survey, Midland decided to cover the main Mythril block with a high-resolution magnetic and electromagnetic survey on 150-metre spaced flight lines for a total of approximately 2,300 line kilometers. This survey is expected to begin towards the end of November.
In addition, a PP-Dipole-Dipole ground survey (100 m lines) totaling approximately 30 linear kilometers will cover the Mythril discovery with 1 kilometer long lines. In addition, a PP-Gradient survey (200 m lines) totalling approximately 165 kilometers will cover the Mythril extensions with lines of 3 kilometers in length over a strike length of 10 kilometers. Mineralization identified in outcrop and in boulder fields consists mainly of disseminated and semi-massive chalcopyrite. This type of mineralization responds very well to IP, and the survey will go a long way towards delineating the mineralized envelopes at Mythril and discovering new mineralized zones.
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, molybdenum or nickel were reanalyzed by 4-acid ICP-AES optimized for high content.
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, 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.
This press release was prepared by Mario Masson, P.Geo. Vice President Exploration at Midland and a qualified person under NI 43-101. The qualified person has reviewed and approved the technical content of this press release.
For further information, please consult Midland’s website or contact
Gino Roger, President and Chief Executive Officer
Fax : 450 420-5978
E-mail : firstname.lastname@example.org
Website : www.explorationmidland.com
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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. –