Midland Exploration and North American Palladium Discover a New Ni-Cu-Pge Zone on the Laflamme Project
MONTREAL, QUEBEC -- (Marketwire) -- 06/15/11 -- Midland Exploration Inc. ('Midland') (TSX VENTURE: MD) is pleased to announce the discovery of a new mineralized zone with nickel, copper and platinum group elements ('PGE'), intersected at the end of the drilling program recently completed on its Laflamme Property. This project, a joint venture with North American Palladium Ltd. ('North American Palladium'), is located about 25 kilometres west of the town of Lebel-sur-Quevillon, Abitibi, Quebec.
Hole LA-11-08, drilled in the northeast part of the property to test a combined magnetic and electromagnetic (VTEM) anomaly, intersected an ultramafic rock sequence about 200 metres thick, which hosted a mineralized interval from 90.6 to 98.6 metres, grading 0.66% Ni, 0.35% Cu, 0.17 g/t Pt, 0.16 g/t Pd, 0.11 g/t Au and 1.4 g/t Ag over 8.0 metres. This zone includes a higher-grade interval, at 1.55% Ni, 0.53% Cu, 0.26 g/t Pt, 0.28 g/t Pd, 0.13 g/t Au and 1.9 g/t Ag over 1.6 metres from 91.1 to 92.7 metres. Disseminated, net-textured and locally semi-massive styles of mineralization are observed. This new zone was intersected at shallow depth, i.e. at about 60 metres vertical depth, and remains wide open in all directions. In addition, helicopter-borne magnetic and electromagnetic (VTEM) anomalies associated with the discovery extend over several kilometres and thus represent an extensive prospective area that remains completely untested.
Table 1: Assay results, drill hole LA-11-08
From (m) To (m) Length (m) Ni % Cu % Pt (g/t) Pd (g/t) Au (g/t) Ag (g/t)
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90.60 91.10 0.50 0.08 0.21 0.092 0.080 0.033 0.7
91.10 91.50 0.40 3.33 0.26 0.321 0.526 0.208 1.3
91.50 91.90 0.40 0.77 1.10 0.265 0.255 0.105 3.6
91.90 92.70 0.80 1.05 0.38 0.223 0.167 0.101 1.4
92.70 93.70 1.00 0.58 0.40 0.161 0.231 0.062 1.2
93.70 94.40 0.70 0.26 0.19 0.093 0.084 0.029 0.8
94.40 95.10 0.70 0.40 0.35 0.291 0.225 0.054 1.3
95.10 96.00 0.90 0.63 0.35 0.263 0.167 0.200 1.9
96.00 96.90 0.90 0.28 0.14 0.043 0.037 0.047 0.6
96.90 97.80 0.90 0.54 0.39 0.130 0.109 0.158 1.5
97.80 98.60 0.80 0.52 0.41 0.147 0.124 0.260 1.9
90.60 98.60 8.00 0.66 0.35 0.17 0.16 0.11 1.4
91.10 92.70 1.60 1.55 0.53 0.26 0.28 0.13 1.9
In light of these very encouraging results, Midland and North American Palladium intend to begin an aggressive exploration campaign shortly, which will include a Pulse EM survey in hole LA-11-08, ground-based geophysical surveys, and additional drilling to assess the new discovery and to test the remaining targets across the property. To date, North American Palladium has completed twelve (12) drill holes totalling 4,353.0 metres over the entire Laflamme Property.
The Laflamme Property consists of 494 claims for a total surface area of about 26,097 hectares, and covers more than 40 kilometres along the strike extension of the Sleeping Giant mine. Following the discovery, 142 pending claims were added to the property. North American Palladium recently acquired 50% interest in the project and may acquire an additional 15% interest by completing a feasibility study.
Maps showing the location of this new discovery may be consulted using the following links:
For Figure 1 - Map of the Abitibi showing the location of the Laflamme project, click here: http://media3.marketwire.com/docs/Midland_Figure1_0615.pdf
For Figure 2 - Regional map showing the geology of the Laflamme property, click here: http://media3.marketwire.com/docs/Midland_Figure2_0615.pdf
For Figure 3 - Regional map showing the magnetic signature of the Laflamme property, click here: http://media3.marketwire.com/docs/Midland_Figure3_0615.pdf
For Figure 4 - Map showing the discovery hole LA-11-08 on the Laflamme property, click here: http://media3.marketwire.com/docs/Midland_Figure4_0615.pdf
Quality Control
The exploration program on the Laflamme project is conducted by North American Palladium and data are reviewed by Mario Masson, Vice-President Exploration for Midland Exploration Inc. and Qualified Person as defined by National Instrument 43-101. Assay samples are taken from NQ-size drill core sawn in half; one half is shipped to a commercial laboratory and the other half is kept for future reference. Assays were conducted by ALS-Chemex-Chimitec in Val-d'Or, and included blanks and standards inserted in the sample stream as a quality control procedure. The attitude of the zone is not yet known and the intersection width may not be true width.
About North American Palladium
North American Palladium is a Canadian precious metals company focused on growing its production of palladium and gold in mining-friendly jurisdictions. The Company's flagship mine, Lac des Iles, is one of the world's two primary palladium producers. NAP also owns and operates the Sleeping Giant gold mine located in the prolific Abitibi region of Quebec. The Company has extensive landholdings adjacent to both its Lac des Iles and Sleeping Giant mines, and a number of exploration projects. NAP trades on the NYSE Amex under the symbol PAL and on the TSX under the symbol PDL. For more information, please visit www.nap.com.
About Midland
Midland targets the excellent mineral potential and the favourable investment climate of Quebec to make the discovery of new world-class deposits of gold, base metals and REE. Midland is proud to count on reputable partners such as North American Palladium Limited, Agnico-Eagle Mines Limited, Osisko Mining Corporation, Japan Oil, Gas and Metals National Corporation, Zincore Metals and Soquem Inc. Midland prefers to work in partnership and intends to conclude additional agreements in regard to newly acquired properties. Midland is currently evaluating new opportunities and other projects in order to increase the portfolio of the Company.
This press release was prepared by Mario Masson, VP Midland Exploration and Qualified Person as defined by NI 43-101. For further information, please consult Midland's website.
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.
Contacts:
Gino Roger
President and Chief Executive Officer
450-420-5977
450-420-5978 (FAX)
info@midlandexploration.com
www.midlandexploration.com