Midland Announces the Acquisition of a 60-km-Long Strategic Position to the East of the Sunday Lake Fault
MONTREAL, Dec. 16, 2020 (GLOBE NEWSWIRE) -- Midland Exploration Inc. (“Midland”) (TSX-V: MD) is pleased to announce the acquisition, by map designation, of 100% interest in 773 claims (425 km2) located approximately 60 kilometres east of the town of Matagami, Abitibi, Quebec, and adjacent to the west of the Chebistuan property held by Kenorland Minerals and currently optioned to Newmont Corporation.
This new gold project, named Nomans, consolidates a new strategic position acquired by Midland along the possible extension of the Sunday Lake Fault in northern Abitibi, approximately 130 kilometres east of the Fenelon and Tabasco deposits held by Wallbridge Mining Company Ltd (“Wallbridge”). Cautionary statement: Mineralization occurring at the Fenelon and Tabasco deposits held by Wallbridge is not necessarily representative of mineralization that may be found on the Nomans project held by Midland described in this press release.
This new acquisition covers, over a distance of more than 60 kilometres, a series of major structures trending E-W to SW-NE, poorly explored with less than a dozen historical drill holes, and marked by the presence of historical Input conductors. The geology in this area is complex and comprises sedimentary rocks including arenites, siltstones and mudstones interbedded with polygenic conglomerates of the Daubrée Formation, as well as the regional contact between felsic to mafic volcanic rocks of the Rivière Bell and Dussieux formations. Several felsic to mafic intrusions intrude both volcanic and sedimentary rocks.
Midland will soon complete a major compilation of historical work in the area to delineate high-priority targets for its first exploration program on this new acquisition.
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., Probe Metals Inc., Wallbridge Mining Company Ltd, 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, VP Exploration for Midland, certified geologist 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: 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.
A figure accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/34663d5f-2c61-4fcb-8b6c-0eabd3492bbf
Figure 1
