Midland and Osisko Identify Several Prospective Areas in the James Bay Region Near Eleonore and Resume Exploration Work
MONTREAL, QUEBEC--(Marketwired - Jun 22, 2017) - Midland Exploration Inc. ("Midland") (TSX VENTURE:MD) is pleased to announce that several new prospective areas were identified during the first phase of a joint exploration program carried out 50/50 with Osisko Mining ("Osisko"). This strategic alliance formed in 2016 covers a regional area of more than 100 kilometres in length, deemed highly favourable and respectively located to the northwest of the Eleonore gold mine and to the southeast of the new gold discovery at Cheechoo.
The first regional exploration program carried out in 2016 included till surveys (717 samples), lake sediment surveys (102 samples) as well as prospecting work (240 rock samples). As a result of this work, several prospective areas were delineated, including eleven (11) high-priority areas that will be the focus of a ground follow-up during the next phase of exploration.
These new exploration targets, identified during the 2016 program, may be divided into two broad areas, located on either side of the Eleonore mine: the Northwest Area and the Southeast Area. Anomaly thresholds for tills and lake sediments were characterized by Osisko using their regional database for the James Bay region.
Northwest Area
- Target 1: Characterized by a cluster of till samples with anomalous gold values above the 95th percentile ("PCT"), over more than 2 kilometres, in heavy mineral concentrates and in the fine fraction.
- Target 2: Presence of an anomaly in gold grain counts in till samples and of arsenic values > 95 PCT in the fine fraction, in addition to a 2-metre-wide iron formation that graded 0.17 g/t Au in the prospecting campaign.
- Target 3: A follow-up on an anomaly in gold grain counts in till samples yielded a copper anomaly > 95 PCT in the fine fraction.
- Target 4: Anomaly covering more than 6 square kilometres, characterized by four (4) lakes with anomalous gold values > 99 PCT and one lake with anomalous arsenic > 99.5 PCT.
Southeast Area
- Target 5: Cluster of gold and copper anomalies in the fine fraction of till samples > 95 PCT.
- Target 6: Area characterized by several gold anomalies identified by prospecting, with values of 0.48 g/t Au, 0.28 g/t Au, 0.21 g/t Au and 0.17 g/t Au in grab samples collected in mafic volcanic rocks and paragneisses with pyrrhotite and pyrite mineralization. This area is located at the contact between the La Grande and Opinaca subprovinces. (Note that values from grab samples reported in this press release are selective by nature and may not be representative of the mineralized zones).The contact between these two geological subprovinces is the most important gold metallotect in the region.
- Target 7: Three copper anomalies in the fine fraction of till samples > 95 PCT, combined with a zinc anomaly > 99 PCT; a float boulder also yielded a grade of 6.85% Cu.
- Target 8: Target characterized by favourable geology identified during prospecting, with the presence of a silicified paragneiss with calc-silicate alteration and 2-10% pyrite and 2-3% pyrrhotite mineralization, which yielded values up to 0.31 g/t Au in grab sample. This target is also located directly along the prolific contact between the La Grande and Opinaca subprovinces.
- Target 9: A gold anomaly > 95 PCT in the fine fraction, where cursory prospecting work was carried out in 2016.
- Target 10: Cluster of lake sediment anomalies over more than 5 kilometres, characterized by two gold anomalies > 99.5 PCT, one gold anomaly > 95 PCT, and one antimony anomaly > 98 PCT.
- Target 11: Several lakes with anomalous antimony values ranging from 0.3 to 0.9 ppm Sb.
The upcoming exploration program, with a total budget of at least $200,000, will mainly include prospecting and till surveys to follow up on these high-priority targets identified in 2016.
This new joint venture with Osisko encompasses several properties for a total of 1,827 mining claims covering a surface area of approximately 952.9 square kilometres. These new properties are located about 12 kilometres to the southeast and northwest of the Eleonore deposit held by Goldcorp Inc. This world-class gold deposit hosts proven reserves estimated, as at June 30, 2016, at 3.09 million tonnes at a grade of 6.72 g/t Au (0.67 Moz Au) and probable reserves of 20.35 million tonnes grading 5.97 g/t Au (3.90 Moz Au). The ore deposit also hosts measured resources of 3.21 million tonnes grading 7.27 g/t Au (0.75 Moz Au), indicated resources of 1.92 million tonnes grading 2.97 g/t Au (0.18 Moz Au) and inferred resources of 5.14 million tonnes at a grade of 5.66 g/t Au (0.93 Moz Au). (Note that the resource is not necessarily indicative of the mineralization on the property, and there is no certainty that a resource will be identified on the Company's property).
Maps showing the location of the new prospective areas and properties held by the strategic alliance may be consulted using the following link: http://media3.marketwire.com/docs/BJ_Osisko_JV_June2017.pdf
Quality Control
Rock samples from the EJV property are assayed by standard 30 gram fire-assaying with AA or gravimetric finish at AlS laboratories in Val d'Or, Québec or Sudbury, Ontario. All samples are also analysed for multi-elements, using four-acid -ICP -AES method at AlS laboratories. Exploration program design, Quality Assurance/Quality interpretation of results is performed by qualified persons employing a Quality Assurance/Quality Control program consistent with the industry best practices. Standards and blanks are included with every 20 samples for Quality Assurance/Quality Control purposes by the Corporation as well as the lab.
Till samples of 15 kg were shipped to Overburden Drilling Management in Ottawa, Ontario for gold grain counts using a shaking table and then hand panning for gold. A non-magnetic heavy mineral fraction extracted from the 15 kg tills was shipped to Actlabs in Ancaster, Ontario. The heavy mineral fraction was assayed for a multi-element analysis which consists in an atomic emission spectroscopy analysis (ICP-ES) with an aqua-regia digestion.
Till samples of 1 kg were sieved using a 63 micrometer mesh to get a fine fraction at Actlabs in Ancaster, Ontario. The fine fraction was analyzed using ICP-ES following a four-acid digestion and a neutron activation analysis (INAA). The data was reviewed by Mario Masson, VP Exploration for Midland, certified geologist and Qualified Person as defined by NI 43-101.
About Midland
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 Osisko Mining Inc., Altius Resources Inc., Agnico Eagle Mines Ltd., Teck Resources Ltd., IAMGold Corp., 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 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: 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.
Contact
Gino Roger
President and Chief Executive Officer
450 420-5977
450 420-5978
info@midlandexploration.com
www.explorationmidland.com