Montreal, April 6, 2018. Midland Exploration Inc. (“Midland”) (TSX-V: MD) is pleased to report the results of a drilling campaign completed in the fall of 2017 on the La Peltrie property in partnership with NioBay Metals Inc. (“NioBay”). The La Peltrie property consists of 520 claims totalling approximately 288 square kilometres and covers, over more than 25 kilometres, a series of NW-SE-trending subsidiary faults to the south of the regional Lower Detour Fault. NioBay holds an option to earn an interest of up to 65% in the property from Midland, the owner of La Peltrie claims.
During this campaign, seven (7) drill holes totalling 1,881.0 metres were completed. This program was mainly designed to test new structural, geological, and geophysical targets identified following compilation work and OreVision® IP surveys conducted in 2016 and 2017. These new high-priority targets included a major interpreted structure trending NW-SE, cross-cutting at a shallow angle a gold-bearing iron formation where historical drilling results of 0.24 g/t Au over 19.50 metres (drill hole 11-493-01) and 0.35 g/t Au over 9.30 metres (drill hole 11-493-02) were reported.
The best results of this campaign come from two drill holes spaced about 300 metres apart, which tested the gold-bearing iron formation. Drill holes LAP-17-04 and LAP-17-05 yielded 14 gold values above 0.1 g/t Au with gold intersections ranging from 0.10 g/t Au over 2.0 metres to a maximum of 1.23 g/t Au over 2.50 metres. (Note that assays are reported as core lengths and that true thicknesses cannot be determined at this time with the information currently available). The auriferous mineralization is hosted by semi-massive to massive pyrrhotite-bearing sulphide horizons between 10 and 60 metres thick. The remaining drill holes in this campaign, drilled to test areas other than the iron formation, explained the IP anomalies with the presence of sulphides but no significant values were obtained.
The massive sulphides occur near the contact between calc-alkaline felsic tuffs (F1-type) to the south and andesites to the north. The geochemical signature of these felsic tuffs is very similar to that of the felsic tuff and rhyolite sequences that host the Bousquet-LaRonde volcanogenic gold deposits in the Southern Abitibi. Moreover, the pyrrhotite-bearing massive sulphides show enrichments in gold, and also in silver and lead, near the contact with andesites, indicating the presence of a particularly favourable proximal exhalative horizon in this location. Integration of all the results of this campaign has led to the identification of a high-priority exploration target at the intersection between an interpreted synvolcanic fault and the favourable felsic tuff-andesite contact. This target remains to be drill-tested. No decision of the next steps has been taken yet as Midland is finalizing the compilation and interpretation of additional datas from the area.
The La Peltrie property is located next to the B26 deposit, currently held by SOQUEM, which contains indicated resources of 6.97 million tons grading 1.32 % Cu, 1.80 % Zn, 0.60 g/t Au and 43.0 g/t Ag and inferred resources of 4.41 million tons grading of 2.03 % Cu, 0.22 % Zn, 1.07 g/t Au and 9.0 g/t Ag (see SOQUEM press release dated March 4, 2018). It is also located approximately 25 kilometres southeast of Zone 58N, a high-grade gold zone in the Lower Detour area held by Detour Gold Corp. (“Detour Gold”) and 25 kilometres northwest of the former Selbaie mine, which historically produced 56.5 million tons grading 1.9 % Zn, 0.9 % Cu, 38.0 g/t Ag and 0.6 g/t Au. (Midland cautions that the mineralization at B26, the Selbaie Mine and at the Lower Detour Zone 58N may not be indicative of the mineralization that may be identified on the La Peltrie property).
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All analyses were performed by ALS Minerals in Val-d’Or, Quebec. All samples were analyzed for gold by fire assay with atomic absorption (AA) finish on 30-gram fractions, and all samples with grades above 3.0 g/t Au were reanalyzed with gravimetric finish. For quality control purposes, certified standards and blanks were inserted in all sample batches at regular intervals in the sample stream. All data were reviewed by Mario Masson, certified geologist and VP for 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 NioBay Metals Inc., Agnico Eagle Mines Limited, Osisko Mining Inc., Altius Minerals Corp., IAMGOLD Corporation, SOQUEM INC. 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, VP Exploration for Midland, certified geologist and Qualified Person as defined by NI 43-101. 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.