Midland Exploration inc. (“Midland”) (TSXV:MD) is pleased to announce the discovery of a new high-grade massive sulphide zinc showing, as part of its strategic exploration alliance with Altius Minerals Corporation (“Altius”) (TSX:ALS). The new showing, named “O’Connor” is located approximately 80 kilometers east of Nemaska, Eeyou Istchee, Quebec, in an under explored area. Mineralization ranges from coarse grained sphalerite in quartz ‘exhalite’ that returned 7.53% Zn and 4.5 g/t Ag to massive coarse pyrrhotite-pyrite-sphalerite that returned up to 2.79% Zn and 4.4 g/t Ag in grab samples (note that grab samples are selective by nature and values reported may not be representative). One pyritic massive sulfide also returned 0.09% Co and 6.8 g/t Ag from grab samples. The mineralization is interpreted as the distal part of a volcanogenic massive sulfide system. The mineralized horizon was traced over 150 meters and remains open along strike both west and east.
Geological mapping of the host rocks to the zinc-silver-cobalt mineralization have identified a new regional-scale, bimodal meta-volcanic package. This greenstone belt does not appear on government geological maps. No electromagnetic survey is reported in the area in historical records. Reconnaissance prospecting by Midland has identified other interpreted exhalative horizons rich in iron sulfides that are indicative of additional massive sulfide potential.
Following the discovery, Midland and Altius have jointly acquired 538 new claims (“Shire” project) covering more than 60 kilometers of the favorable stratigraphy. Midland and Altius consider the discovery of this zinc mineralization and associated exhalative horizons strongly indicative of base metal potential in this newly recognized greenstone belt.
Midland and Altius have also completed a first phase of reconnaissance elsewhere in the James Bay region targeting gold and base metals with assay results pending from other target areas. The campaign consisted mainly of geological mapping, prospecting and till sampling following up on targets generated from compiled data. Follow up field programs to build on this successful initial campaign are being planned. Midland is the manager of the ongoing exploration programs by the alliance.
Figures showing the location of the new discovery as well as photos of the mineralization can be consulted using the following link : http://media3.marketwire.com/docs/MD_Figures_OConnor_Aout2017.pdf
Rock samples on the project are assayed by standard 30 gram fire-assaying with AA or gravimetric finish at ALS Minerals laboratories in Val d’Or, Québec or Sudbury, Ontario. All samples are also analysed for multi-elements, using four-acid ICP-AES method. 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.
Altius directly and indirectly holds diversified royalties and streams that generate revenue from 15 operating mines. These are located in Canada and Brazil and produce copper, zinc, nickel, cobalt, iron ore, potash and thermal (electrical) and metallurgical coal. The portfolio also includes numerous pre‐development stage royalties covering a wide spectrum of mineral commodities and jurisdictions. In addition, Altius holds a large portfolio of exploration stage projects which it has generated for deal making with industry partners that results in newly created royalties and equity and minority interests.
Altius has 43,208,291 common shares issued and outstanding that are listed on Canada’s Toronto Stock Exchange under the trading symbol ALS. It is a member of both the S&P/TSX Small Cap and S&P/TSX Global Mining Indices.
Midland targets the excellent mineral potential of Quebec to make the discovery of new world-class deposits of gold, platinum group elements, base metals and rare earth elements. Midland is proud to count on reputable partners such as Altius Resources Inc., Agnico Eagle Mines Limited, Teck Resources Limited, IAMGOLD Corporation, Osisko Mining Inc., SOQUEM INC., Japan Oil Gas and Metals National Corporation, 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 has been prepared by Sylvain Trepanier, P.Geo., VP Exploration for James Bay and Northern Quebec at Midland, a “qualified person” as defined by NI 43-101. For further information, please consult Midland’s 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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