{"id":7898,"date":"2022-08-20T14:25:39","date_gmt":"2022-08-20T18:25:39","guid":{"rendered":"https:\/\/midlandexploration.com\/2022\/08\/20\/midland-options-its-samson-ni-cu-pge-and-gold-property-to-donner-metals-near-balmorals-discovery-on-grasset\/"},"modified":"2022-08-20T14:25:40","modified_gmt":"2022-08-20T18:25:40","slug":"midland-options-its-samson-ni-cu-pge-and-gold-property-to-donner-metals-near-balmorals-discovery-on-grasset","status":"publish","type":"post","link":"https:\/\/midlandexploration.com\/en\/2022\/08\/20\/midland-options-its-samson-ni-cu-pge-and-gold-property-to-donner-metals-near-balmorals-discovery-on-grasset\/","title":{"rendered":"Midland options its Samson Ni-Cu-PGE and gold property to Donner Metals near Balmoral’s discovery on Grasset"},"content":{"rendered":"\n
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Montreal, September 8, 2014. Midland Exploration Inc.<\/strong> is pleased to announce the execution of a new option agreement with Donner Metals Ltd. (“Donner”) for its Samson property, currently wholly owned by Midland and which consists of 512 claims covering a surface area of about 284 square kilometers about 50 kilometers west of the town of Matagami, in Abitibi, Quebec. This new property has a strong potential for nickel, copper, Platinum Group Elements (“Ni-Cu-PGE”) and gold and is located about 5 kilometers south of the recent Ni-Cu-PGE and gold discoveries made by Balmoral Resources Ltd (“Balmoral”) on the Grasset project. Recently, Balmoral announced the discovery of a high-grade Ni-Cu-PGE zone, with values up to 1.79% Ni, 0.19% Cu, 0.42 g\/t Pt, and 1.04 g\/t Pd over 45.28 meters including an interval grading 10.6% Ni, 0.45% Cu, 2.04 g\/t Pt, and 5.23 g\/t Pd over 1.10 metreand 1.62% Ni, 0.18% Cu, 0.36 g\/t Pt and 0.88 g\/t Pd over 54.08 meters (see press releases by Balmoral dated May 20, 2014 and August 18, 2014).<\/p>\n\n

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Under the terms of this new agreement, Donner may earn 50% of Midland’s interest over a period of four (4) years, by fulfilling the following conditions: Cash payments totalling $275,000, including a $40,000 payment upon signing the agreement; Exploration expenditures totalling $3,500,000, including a firm commitment of $350,000 during the first year. Midland will be project operator during the option period.<\/p>\n\n

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This property covers, over a strike length of more than 20 kilometres, a series of strongly magnetic sills located just south of the regional Lower Detour Fault, also known for its gold potential. In addition, lithogeochemistry data from historical drill holes indicate the presence of ultramafic sills, thus confirming the potential for magmatic Ni-Cu-PGE mineralization on the Samson property. Data from airborne MegaTEM electromagnetic survey indicate the presence of several conductors coinciding with magnetic sills, which have never been drill-tested and thus represent potential high-priority targets. Ground time-domain electromagnetic surveys (“TDEM”) are planned to identify drilling targets.<\/p>\n\n

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Des figures localisant la nouvelle entente d\u2019option avec Donner pour la propri\u00e9t\u00e9 Samson peuvent \u00eatre consult\u00e9es en utilisant ce <\/a>lien<\/strong><\/a><\/p>\n\n

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About Midland<\/strong><\/p>\n\n

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Midland targets the excellent mineral potential of Quebec to make the discovery of new world-class deposits of gold, PGE, base metals and rare earth elements. Midland is proud to count on reputable partners such as Donner Metals Ltd, Teck Resources Limited, Agnico Eagle Mines Limited, Maudore Minerals Limited, Japan Oil, Gas and Metals National Corporation and SOQUEM 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.<\/p>\n\n

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This press release was prepared by Mario Masson, Midland’s Vice President of Exploration, a registered geologist and qualified person under National Instrument 43-101. For further information, please consult Midland\u2019s website or contact <\/p>\n\n

Gino Roger, President and Chief Executive Officer<\/p>\n\n

Tel. : 450 420-5977 : 450 420-5977<\/a><\/p>\n\n

Fax : 450 420-5978 : 450 420-5978<\/p>\n\n

E-mail : info@midlandexploration.com<\/a><\/p>\n\n

Website : www.explorationmidland.com<\/a><\/p>\n\n

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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.<\/p>\n\n

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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. –<\/p>\n\n

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