Midland Acquires the Lac Esther Gold Property, a New Strategic Position in the Abitibi Region
MONTREAL, April 21, 2020 (GLOBE NEWSWIRE) -- Midland Exploration Inc. (“Midland”) (TSX-V: MD) is pleased to announce the acquisition, by map designation, of 100% interest in the new Lac Esther project. This new project with strong gold potential totals 217 claims (120 km2) and is located approximately 30 kilometres north of the town of Lebel-sur-Quevillon, in Abitibi, Quebec.
This important land position covers a strategic area straddling the southern contact of the syntectonic Waswanipi-South Pluton and the junction between two major regional faults, namely the Casa Berardi and Lamarck regional fault zones. These fault zones host several historical gold showings and deposits located near the Lac Esther property.
The property adjacent to the west of Midland’s Lac Esther property hosts the Lac Rose high-grade gold deposit (historic mine), which produced in the late 1930s a total of 106.5 kilograms of gold from 4,875 tonnes of material grading 21.5 g/t Au (source: SIGEOM website, Québec MERN). This deposit, where copper, zinc, and silver mineralization is also reported, is located immediately to the south of a magnetic horizon that may be traced approximately 15 kilometres eastward, onto the Lac Esther property. This magnetic horizon also hosts a historic Cu-Ag occurrence (Lac Esther NW showing) that yielded grades of 0.1% Cu and 5.1 g/t Ag over 7.62 metres in drill hole CL-3 (source: SIGEOM Examine database, Québec MERN; GM12479).
The Lac Esther property has seen very little exploration in the past and the number of holes drilled along the extensions of the Lac Rose mine is very low, i.e., approximately twenty drill holes over a lateral extent of more than 15 kilometres. This property also benefits from excellent access as provincial highway 113, between Lebel-sur-Quevillon and Chapais, runs through the centre of the property across its entire length.
Midland is currently preparing a compilation of all previous work conducted on this new property, in preparation for a field work proposal to come later in 2020.
Cautionary statements:
Mineralization at the Lac Rose deposit located on the property adjacent to the west is not necessarily indicative of mineralization that may be found on the Lac Esther property held by Midland.
The true thickness of historic drill intercepts reported in this press release cannot be determined with the information currently available; intervals are therefore reported in core length.
About Midland
Midland targets the excellent mineral potential of Quebec to make the discovery of new world-class deposits of gold, platinum group elements and base metals. Midland is proud to count on reputable partners such as BHP Billiton Canada Inc., Agnico Eagle Mines Limited, Osisko Mining Inc., SOQUEM INC., Nunavik Mineral Exploration Fund, 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. P.Geo., VP Exploration for Midland and Qualified Person as defined by NI 43-101, who also approved the technical content of this press release.
For further information, please consult Midland’s website or contact:
Gino Roger, President and Chief Executive Officer
Tel.: 450 420-5977
Fax: 450 420-5978
Email: info@midlandexploration.com
Website: www.midlandexploration.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.
Figures accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/ee519b37-29ea-4d5d-8a43-d99a55499362
https://www.globenewswire.com/NewsRoom/AttachmentNg/a11dff2b-0af1-4ae3-bf9c-ba9084123a32
https://www.globenewswire.com/NewsRoom/AttachmentNg/543487e6-6d20-472e-b776-84988ea3e316
https://www.globenewswire.com/NewsRoom/AttachmentNg/a00d97e6-6b8f-4b81-941f-16d141cbeb77
https://www.globenewswire.com/NewsRoom/AttachmentNg/af3a906a-c0fa-42c6-89a7-84490fed5b68
https://www.globenewswire.com/NewsRoom/AttachmentNg/891e2a15-35ca-4529-a5f0-2aa24af517ae
Figure 1
Lac Esther Project location
Figure 2
Regional structural setting
Figure 3
Regional geology
Figure 4
Regional Mag Gradient
Figure 5
Lac Esther geology
Figure 6
