Midland Announces New Strategic Acquisition With Ni-Cu-Co-PGE Potential in the Abitibi Region
MONTREAL, June 22, 2022 (GLOBE NEWSWIRE) -- Midland Exploration Inc. (“Midland”) (TSX-V: MD) is pleased to announce the acquisition, by map designation, of 100% interest in 460 claims (260 km2) in the Abitibi region, between the towns of Amos and Matagami. This new strategic acquisition is also located approximately 60 kilometres west of the Copernick zone discovered by Midland in 2016 on the Laflamme JV project, which yielded grades up to 0.45% Ni, 0.33% Cu, 0.15 g/t Pt and 0.24 g/t Pd over 42.60 metres (core length) in drill hole LAF-16-38, from 446.50 to 489.10 metres (see press release by Midland dated April 14, 2016).
This new project, dubbed Nickel Square, extends over a total surface area of approximately 300 square kilometres with strong yet underexplored potential for Ni-Cu-Co-PGE. It covers the Maizerest Intrusions, a series of ultramafic intrusions that are locally associated with untested historical electromagnetic (INPUT) conductors. In the north part of the Nickel Square project, a historical grab sample collected by the “Ministère de l’Énergie et des Ressources naturelles du Québec” in ultramafic rocks of the Maizerest with minor sulphide mineralization yielded anomalous values of 0.20% Ni, 450 ppm Cu, 110 ppm Co, 117 ppb Pd and 68 ppb Pt.
Similar to the Copernick zone discovered by Midland further east, these ultramafic intrusions are hosted in dominantly mafic rocks assigned to the Vanier-Dalet-Poirier Group. These mafic-ultramafic assemblages are located approximately 10 kilometres north of the sedimentary Glandelet Formation, mainly composed of sandstones and graphitic mudrocks.
Midland is eager to begin exploration on the property with a prospecting campaign and a high-resolution magnetic survey planned for this year.
Cautionary statement:
Note that grab and float sample grades may not be representative of mineralized zones.
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 Canada Inc., Rio Tinto Exploration Canada Inc., Probe Metals Inc., Wallbridge Mining Company Ltd, Agnico Eagle Mines Limited, SOQUEM Inc., Osisko Development Corp., the 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 Corporation portfolio and generate shareholder value.
This press release was reviewed and approved by Mario Masson, P.Geo., VP Exploration for Midland and Qualified Person as defined by NI 43-101.
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: https://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/bc0b26d9-7255-49d9-80fa-359353638efd
https://www.globenewswire.com/NewsRoom/AttachmentNg/36ce44c8-68a8-4b1d-a145-3f1a6b59d00a
https://www.globenewswire.com/NewsRoom/AttachmentNg/e316975e-1510-4a10-b4d3-9ba1c5ad6735
https://www.globenewswire.com/NewsRoom/AttachmentNg/28fd82a5-4ee4-40b6-b393-d81805ed5b4f
https://www.globenewswire.com/NewsRoom/AttachmentNg/f473b8c3-887a-43f6-85d5-4e6dd687d619
Figure 1
Abitibi Geology - Midland Projects
Figure 2
Abitibi New Opportunities Ni-Cu-Co-PGE
Figure 3
Nickel Square Geology - New Acquisition
Figure 4
Nickel Square Mag - New Acquisition
Figure 5
