Midland Announces the Discovery of Several New Showings and Boulder Fields With Cu-Au-Mo-Ag Mineralization on the Mythril Regional Project

2019-10-31 / @nasdaq

MONTREAL, Oct. 31, 2019 (GLOBE NEWSWIRE) -- Midland Exploration Inc. (“Midland”) (TSX-V: MD) is pleased to report the discovery, by prospecting, of several new showings and boulder fields (float) with Cu-Au-Mo-Ag mineralization on its Mythril regional project. In addition to the principal Mythril claim block, which hosts the Mythril discovery, the regional project consists of four (4) main claim blocks located to the northeast, east and southeast of the Mythril block. These new surface discoveries are all located in areas that have seen little previous exploration. They also underscore the excellent potential of the Mythril area for copper, gold, molybdenum and silver mineralization.

Highlights

New Tornado Au-Cu-Mo showing, with values up to 4.7 g/t Au and 0.39 % Cu in grab samples; mineralized float yielding 3.13 g/t Au and 0.35 % Cu in a grab sample in the same area (Tilly claim block, Pasithee area).
New Eomer gold showing in an iron formation: 2.79 g/t Au and 1.31 g/t Au in grab samples (Tilly south claim block)
New Faramir showing yielding up to 0.34 % Cu, and the Boromir float field containing 22 mineralized floats yielding an average of 0.12 % Cu (grab samples; Tilly south claim block, western area). The showing and the floats occur as dense stockworks of quartz, chlorite, ankerite, epidote veins, in very strongly altered granitoids.
New Mo-bearing showing and floats northeast of Faramir: up to 1.72 % Mo (grab sample from a locally sourced float).
New Mo-Au-Cu showing on the new Corvette claim block: up to 3.84 g/t Au and 0.45 % Mo (grab sample, locally sourced float); up to 1.79 % Mo (grab sample from an outcrop).
Arsenopyrite-bearing tonalite float discovered on the Corvette claim block, that yielded 3.47 g/t Au and 1.1 g/t Au (grab samples).

Note that grab samples are selective by nature and grades obtained are not representative of mineralized zones.

New showings and boulders with Cu-Mo-Au and Au mineralization on the Tilly South claim block

The Tilly South claim block is located approximately 35 kilometres northeast of the Mythril discovery. It consists of 391 claims that were map designated in 2018 based on the presence of strong copper and molybdenum anomalies in lake sediments, which were identified using public data from the Government of Quebec. In the northern part of the claim block, a grab sample collected in the summer of 2019 in a decimetre-scale zone with chalcopyrite mineralization in a paragneiss, graded 1.49% Cu, 1.15 g/t Au and 15.6 g/t Ag (Pasithée showing). Another grab sample collected in 2018 (unpublished data), approximately 10 metres further west in the same mineralized zone, graded 0.58% Cu, 0.60 g/t Au and 14.3 g/t Ag. Another polymetallic occurrence, the Tornado showing, was also discovered in an unexplored area 1 kilometre east of the Pasithée showing. The Tornado showing displays different styles of mineralization and appears to be particularly gold-rich. A grab sample from a decimetre-scale zone containing chalcopyrite graded 4.7 g/t Au, 0.39% Cu and 3.58 g/t Ag. On the same outcrop, a grab sample from a zone with molybdenite-filled fractures graded 2.11 g/t Au and 0.02% Mo. Finally, a centimetre-scale quartz-feldspar vein on the same outcrop graded 0.05% Mo and 0.26 g/t Au (grab sample). Approximately 200 metres southeast of the Tornado showing, a grab sample from an angular boulder of paragneiss with chalcopyrite-rich bands graded 3.13 g/t Au, 0.35% Cu and 6.66 g/t Ag. Similar to the Tornado showing, this glacial erratic is particularly gold-rich.

In the western part of the claim block, approximately 13 kilometres southwest of the Tornado showing, another copper-molybdenum mineralized system was uncovered in the summer of 2019. The Faramir showing is a new copper-molybdenum occurrence, where four (4) grab samples yielded an average grade of 0.17% Cu, the highest at 0.34% Cu (sample S410738), with locally anomalous molybdenum values (up to 0.02% Mo). The showing consists of disseminated chalcopyrite in a highly altered granite with strong quartz, chlorite, ankerite and epidote veining. A total of 22 boulders of chalcopyrite-bearing granitoid were also discovered in the vicinity. These boulders are strongly altered and exhibit intense veining (quartz, chlorite, epidote, ankerite). Grab samples yielded an average grade of 0.12% Cu, reaching up to 0.45% Cu (sample S410734). These boulders are very similar to the Faramir showing and are scattered over an area of approximately 1 kilometre by 500 metres. About 400 metres northeast of the Faramir showing, several locally sourced boulders with quartz-molybdenite veining were discovered. Three (3) grab samples from these boulders graded 1.72% Mo, 0.51% Mo and 0.04% Mo. Nearby outcrops host the same type of mineralization, and two (2) grab samples yielded grades of 0.2% Mo and 0.07% Mo. These new showings and boulders appear to represent the external portion (propylitic alteration) of a magmatic-hydrothermal system. Additional work is required to locate the potentially economic portion of the system related to the potassic alteration zone. No previous exploration has ever been conducted in this area. Strong copper and molybdenum anomalies in lake sediments occur in the vicinity of these new showings and boulder fields.

A new gold showing, the Eomer showing, was also discovered in the central part of the Tilly South block. It consists of quartz-pyrite±chalcopyrite veins in a shear zone that cuts across a silicate-facies iron formation. Three (3) grab samples graded 2.79 g/t Au, 1.31 g/t Au and 0.14 g/t Au, along with strong bismuth (up to 0.013% Bi) and tellurium (up to 17.9 g/t Te) values.

These newly discovered showings and boulder fields on the Tilly South claim block represent the first-ever evidence of copper, molybdenum and gold mineralization in this poorly explored area covering more than 200 square kilometres.

New Mo-Cu-Au showings on the Corvette claim block

The Corvette claim block (231 claims) is located 35 kilometres southeast of Mythril and was recently acquired by map designation. Prospecting work carried out in September led to the discovery of a new Mo-Cu-Au-Ag showing in this area. Five (5) grab samples collected on outcrops scattered over an area of approximately 30 metres yielded average grades of 0.65% Mo, 0.1% Cu, 0.09 g/t Au, 6.0 g/t Ag, and up to 1.79% Mo (sample S410856). A grab sample from a nearby subcrop also graded 3.84 g/t Au and 0.45% Mo. Mineralization on the Corvette block occurs as tonalite-hosted stockworks of quartz veinlets and fractures filled with molybdenite and chalcopyrite, and is interpreted as molybdenum-copper-gold porphyry-type mineralization. Finally, two (2) grab samples from a metre-scale boulder of tonalite with arsenopyrite mineralization graded 3.47 g/t Au and 1.1 g/t Au. The provenance of this boulder is unknown. The Corvette block also covers the boundary between the La Grande and Opinaca subprovinces, considered to be a first-order metallotect for gold in the James Bay region.

New Cu-Au-Mo showing and mineralized boulders on the Chisaayuu claim block

The Chisaayuu claim block is located approximately 60 kilometres east of Mythril. The block consists of 301 claims that were acquired by map designation in the fall of 2018 based on the presence of strong molybdenum and copper anomalies in lake sediments, which were identified using public data from the Government of Québec. Prospecting work carried out in the summer of 2019 led to the discovery of a new Cu-Au-Mo showing on the claim block. Nine (9) grab samples of mineralized granodiorite from the showing yielded average grades of 0.11% Cu, 0.01% Mo and 0.2 g/t Au, with values reaching up to 0.79 g/t Au and 0.22% Cu (sample A0350715), and 0.03% Mo (sample A0350714). Mineralization consists of disseminations and veinlets of chalcopyrite and molybdenite in a granodiorite accompanied by epidote, chlorite and sericite alteration. Approximately 800 metres southwest of the showing, a grab sample from a boulder of diorite with chalcopyrite-pyrite-molybdenite mineralization graded 0.75 g/t Au, 0.11% Cu, 0.06% Mo, 9.9 g/t Ag and 0.38% Zn. This is the first copper-molybdenum-gold occurrence ever reported on the claim block. No previous work has been reported for this area.

Copper, gold and molybdenum potential on the Mythril regional project

Prospecting work carried out in the summer of 2019 has identified four new areas with “magmatic-hydrothermal” copper, gold and molybdenum occurrences. These areas have seen little exploration in the past. The new discoveries outline the excellent potential of the Mythril area for this type of mineralization. Ground geophysical surveys (induced polarization) will be conducted in the winter of 2020 on these new prospective areas.

Quality control

Exploration program design and interpretation of results are performed by qualified persons employing a Quality Assurance/Quality Control program consistent with industry best practices, including the use of standards and blanks with every 20 samples. Rock samples on the project are assayed for gold by standard 30-gram fire-assaying with inductively coupled plasma atomic emission spectroscopy (ICP-AES; Au-ICP21) or gravimetric finish (Au-GRA21) at ALS Minerals laboratories in Vancouver, British Columbia. All samples are also analyzed for multi-elements using the four-acid ICP–AES method (ME-ICP61), also at ALS Minerals laboratories in Vancouver, British Columbia. Samples that exceed 1% copper, zinc, molybdenum or nickel are reanalyzed by four-acid ICP-AES optimized for high grades.

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 Sylvain Trépanier, P.Geo., VP Exploration James Bay and Northern Quebec 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.

Midland Announces the Discovery of Several New Showings and Boulder Fields With Cu-Au-Mo-Ag Mineralization on the Mythril Regional Project

Mythril regional claim blocks

Mythril regional claim blocks

Tilly South - New 2019 showings

Tilly South - New 2019 showings

Boromir - Cu bearing floats

Boromir - Cu bearing floats

Boromir Cu-bearing floats - 2

Boromir Cu-bearing floats - 2

Faramir Cu showing

Faramir Cu showing

NE Faramir - Qtz-Mo veins in floats + outcrops

NE Faramir - Qtz-Mo veins in floats + outcrops

Corvette - New 2019 showings

Corvette - New 2019 showings

Corvette - Mo-Cu-Au mineralization

Corvette - Mo-Cu-Au mineralization

Corvette - Au-As float

Corvette - Au-As float

Chisaayuu - New 2019 showings

Chisaayuu - New 2019 showings