MONTREAL, QUEBEC–(Marketwired – April 12, 2016) – Midland Exploration Inc. (” Midland “) (TSX VENTURE:MD) is pleased to report the acquisition, by map designation, of three new properties with strong gold potential named, Mordor, Rivendell and Dagorlad located respectively about 10 kilometres northeast, 10 kilometres southeast and 15 kilometres east of the recent gold discovery …
MONTREAL, QUEBEC–(Marketwired – April 12, 2016) – Midland Exploration Inc. (” Midland “) (TSX VENTURE:MD) is pleased to report the acquisition, by map designation, of three new properties with strong gold potential named, Mordor, Rivendell and Dagorlad located respectively about 10 kilometres northeast, 10 kilometres southeast and 15 kilometres east of the recent gold discovery made by Sirios Resources Inc. (“Sirios”) on its Cheechoo project. Recently, Sirios confirmed gold mineralization at the contact between metasediments and a tonalite which returned 12.08 g/t gold over 20.3 metres, including 48.38 g/t gold over 4.4 metres (see press release by Sirios dated March 29, 2016). Previous drilling by Sirios between 2012 and 2015 on Cheechoo returned grades of 15.04 g/t Au over 12.35 metres and 15.61 g/t Au over 9.70 metres in hole #20, drilled under hole #18 which had previously intersected the two zones with 7.24 g/t Au over 7.9 metres and 2.04 g/t Au over 8.8 metres respectively. This gold mineralization is hosted in a tonalitic intrusion. (Note: All intercepts reported are down hole lengths, not true thicknesses. Insufficient drilling has been completed to date to define the orientation of the mineralized zone in space).
The three newly acquired properties comprise a total of 400 claims covering a surface area of about 191.3 square kilometres. All claims are currently being processed by the Ministère de l’Énergie et des Ressources Naturelles (“MERN”); they will be registered shortly and will be wholly owned by Midland. The new properties are located from 15 to 30 kilometres southeast of Goldcorp Inc.’s Éléonore deposit. This world-class gold deposit contains proven reserves of 2.99 million tonnes at a grade of 6.27 g/t Au (0.60 Moz Au) and probable reserves of 21.58 million tonnes at a grade of 6.30 g/t Au (4.37 Moz Au). The deposit also contains a measured resource of 0.86 million tonnes at a grade of 8.03 g/t Au (0.22 Moz Au), an indicated resource of 4.33 million tonnes at a grade of 6.00 g/t Au (0.83 Moz Au) and an inferred resource of 12.09 million tonnes at a grade of 7.19 g/t Au (2.80 Moz Au).
The area covered by the three new properties has received limited exploration work in the past and no gold showings are currently reported. The southern property covers sedimentary sequences and intrusions belonging to the La Grande Subprovince, whereas the two others cover metasedimentary rocks and intrusions of the Opinaca Subprovince. The sedimentary sequence on the southern property is believed to be similar to the one on the Cheechoo property, according to geological mapping conducted by the MERN, and therefore possesses strong potential for gold mineralization.
Maps showing the location of the new properties may be consulted using the following link: http://media3.marketwire.com/docs/1050236_Rivendell_fig.pdf.
About Midland Exploration
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 Agnico Eagle Mines Limited, Teck Resources Limited, SOQUEM INC., Japan Oil and Gas and Metals National Corporation and Aurbec 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 opportunities and projects to build up the Company portfolio and generate shareholder value.
This press release was prepared by Mario Masson, Midland’s VP Exploration, certified geologist and Qualified Person as defined by NI 43-101.
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.