MONTREAL, QUEBEC–(Marketwired – March 15, 2016) – Midland Exploration Inc. (“Midland”) (TSX VENTURE:MD) is pleased to announce the start of a first diamond drilling program on the La Peltrie property to test new geophysical targets identified during the induced polarization survey OreVision type (“OreVision”) that was recently completed. This property with strong gold potential, owned 100% by Midland is located approximatively 25 kilometres southeast of the Lower Detour high grade gold zone held by Detour Gold Corporation (“Detour Gold”).
The La Peltrie property consists of 353 claims totalling about 195 square kilometres. It covers, over more than 25 kilometres, a series of interpreted subsidiary faults trending NW-SE to the south of the regional Lower Detour Fault.
Last year, Detour Gold announced a series of significant drilling results for the Lower Detour area (Zone 58N), located about 6 kilometres south of the Detour Lake mine. This mine contains mineral reserves of 14.94 million ounces of gold near surface, consisting of proven reserves of 94.2 million tonnes grading 1.25 g/t Au for 3.79 million ounces of gold (“Moz Au”) and probable reserves of 364.6 million tonnes grading 0.95 g/t Au for 11.5 Moz Au. Of the intersections in the Lower Detour area, surveys have reported significant values up to 11.82 g/t Au over 32.40 metres and 12.74 g/t Au over 28.0 metres (see Detour Gold press release dated June 2, 2014). This winter Detour Gold a new drilling program of 75,000 metres and reported visible gold in 46 drill holes over the 56 that was completed in 2015 on Zone 58N (source: Website Detour Gold).
This winter, an OreVision survey totaling more than 100 kilometres was completed on the La Peltrie property and covered a complex network of interpreted structures oriented NW-SE for a distance of about 8 kilometres. Several conductors have been detected near these structures during a MegaTEM airborne survey completed in 2004 and many have never been tested by drilling. The OreVision survey confirmed these conductors and also identified several other areas showing increases of chargeability. Of these new OreVision targets, an anomaly characterized by a strong increase of chargeability was detected on about 600 metres of lateral extension and is associated with a mixture of resistivity increases and lows. Furthermore, this new target is located approximately 250 metres south of the contact between the Enjalran Group and the Brouillan Group which is marked by a regional graphitic conductor about 25 kilometres north-west of the B26 deposit currently held by SOQUEM INC. (“SOQUEM”). The other targets that will be tested during this program are associated with a felsic package containing exhalative horizons.
The drilling campaign on La Peltrie will initially include four (4) holes totalling a minimum of 1,200 metres and is planned to start in mid-March.
The La Peltrie property covers the contact between the calc-alkaline mafic to felsic volcanic rocks belonging to the Brouillan Group and the tholeiitic mafic rocks of the Enjalran Group. It is located about 25 kilometres northwest of the former Selbaie mine, which historically produced 56.5 million tonnes grading 1.9% Zn, 0.9% Cu, 38.0 g/t Ag and 0.6 g/t Au. The La Peltrie property is also located about 25 km northwest of the B26 deposit currently held by SOQUEM which contains indicated resources of 3.93 million tons at a grade of 0.88 % Cu, 0.38 % Zn, 0.34 g/t Au and 12.40 g/t Ag (pit) and of 2.78 million tons at a grade of 1.32 % Cu, 0.69 % Zn, 0.54 g/t Au and 13.32 g/t Ag (underground). It contains also inferred resources of 3.95 million tons at a grade of 1.57 % Cu, 0.84 % Zn, 0.38 g/t Au and 10.22 g/t Ag (underground) and of 3,000 tons at a grade of 1.18 % Cu, 0.02 % Zn, 0.14 g/t Au and 4.30 g/t Ag (pit).
Maps showing location of the La Peltrie property and its new drilling targets may be consulted using the following link: http://media3.marketwire.com/docs/160315_MD_LaPeltrieMarch2016.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., and Japan Oil and Gas and Metals National Corporation. 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. For further information, please consult Midland’s website or contact:
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.