Midland Begins New Exploration Campaign on Its Mythril and Mythril Regional Projects

2020-08-11 / @nasdaq

MONTRÉAL, Aug. 11, 2020 (GLOBE NEWSWIRE) -- Midland Exploration Inc. (“Midland”) (TSX-V: MD) is pleased to report that exploration work has resumed on its Mythril and Mythril Regional projects (100% Midland), located in Eeyou Istchee James Bay, Quebec. The summer 2020 program includes a lake sediment survey and a prospecting and reconnaissance campaign. The prospecting campaign will take place in August, over a period of 3 weeks, and will target newly defined lake sediment anomalies, as well as copper-gold-molybdenum and gold occurrences and boulder fields discovered in 2019 on the two projects.

Lake sediment survey conducted in June 2020

A high-density lake sediment survey totalling 190 samples was conducted last June on the Corvette claim block, located approximately 40 kilometres southeast of Cu-Au-Mo occurrences on the Mythril project. The survey covered the entire claim block, where new Cu-Au-Mo showings and boulders were discovered in September 2019 (see press release by Midland dated October 31, 2019). Survey samples have been analyzed using portable XRF technology (Reflex Vanta) to obtain preliminary results as quickly as possible in order to follow-up on potential anomalies in August.

In the west part of the Corvette block, in 2019, five grab samples from outcrops scattered over an area of approximately 30 metres graded, on average, 0.65% Mo, 0.1% Cu, 0.09 g/t Au, 6.0 g/t Ag, with best results at 1.79% Mo. One grab sample from a subcrop located nearby also graded 3.84 g/t Au and 0.45% Mo. Mineralization on the Corvette claim block occurs as stockworks of quartz veinlets and molybdenite and chalcopyrite-filled fractures in a tonalite. The mineralization is interpreted as a porphyry-type molybdenum-copper-gold system. Again in 2019, a metre-scale tonalite boulder with arsenopyrite mineralization graded 3.47 g/t Au and 1.1 g/t Au in grab samples. The source of this boulder remains unknown. This high-potential area has seen very little previous exploration.

Prospecting and reconnaissance in August 2020

Follow-up prospecting will be conducted on the Tilly South block of the Mythril Regional project. In 2019, a new Cu-Au-Mo showing was discovered in the northeast part of the claim block (Tornado showing). The latter is located approximately 45 kilometres northeast of Cu-Au-Mo showings identified on the Mythril project. On the Tornado showing, a grab sample from a decimetre-scale chalcopyrite zone graded 4.7 g/t Au, 0.39% Cu and 3.58 g/t Ag. On the same outcrop, a mineralized zone with molybdenite-filled fractures graded 2.11 g/t Au and 0.02% Mo in grab sample. 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 paragneiss boulder with chalcopyrite-rich bands graded 3.13 g/t Au, 0.35% Cu and 6.66 g/t Ag. Much like the Tornado showing, this erratic boulder proved to be particularly gold-rich. No follow-up work has been conducted yet on the Tornado showing and the area has seen very little previous exploration. Results from the Tornado showing area were reported in a press release dated October 31, 2019. An induced polarization (“IP”) survey was planned last winter to cover the Tornado showing and its immediate vicinity, however the IP survey was cancelled due to the COVID-19 crisis.

In the west part of the Tilly South block, about 13 kilometres southwest of the Tornado showing, another copper-molybdenum mineralized system was uncovered in the summer of 2019. The following results were reported in a press release dated October 31, 2019. The Faramir showing is a new copper-molybdenum showing, where 4 grab samples yielded an average grade of 0.17% Cu, reaching 0.34% Cu, with locally anomalous molybdenum values (up to 0.02% Mo). The showing consists of disseminated chalcopyrite in strongly altered granite injected with quartz-chlorite-ankerite-epidote veining. The showing appears to be associated with a late brittle fault trending NW-SE, clearly outlined in regional aeromagnetic data. A total of 22 granitoid boulders with chalcopyrite mineralization were also discovered in the vicinity (Boromir boulder field). These boulders are strongly altered and injected with intense quartz-chlorite-epidote-ankerite veining. Grab samples yielded an average grade of 0.12% Cu, reaching 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. They are interpreted as being derived from the same fault zone as the Faramir showing. These new showings and boulders are considered as the external zone (propylitic alteration) of a magmatic-hydrothermal system.

Last winter, a pole-dipole IP survey (n=20), designed to test the deeper bedrock, was conducted to cover the fault hosting the Faramir showing, to identify chargeability IP anomalies that would indicate the strongly mineralized part of the Cu-Mo system. About 50% of the survey was completed before it had to be interrupted due to the COVID-19 crisis. The IP line located furthest to the southeast shows a deep chargeability anomaly along the fault zone, which may correspond to a more strongly mineralized part of the system. This anomaly will be drill-tested at a later date. The targeted fault zone will also be traced to the southeast during the summer prospecting campaign.

A gold-bearing boulder field located in the northeast part of the Mythril project will also be the focus of detailed prospecting work. In 2019, three boulders respectively grading 2.84 g/t Au, 2.83 g/t Au, and 0.59 g/t Au (grab samples) were discovered; these results were released on November 7, 2019. The gold-bearing boulders are characterized by low-grade copper (<0.15% Cu) and molybdenum values (<0.01% Mo), and minor amounts of pyrite (up to 1%). They represent the first occurrence of gold-dominated mineralization on Mythril. Follow-up work has yet to be conducted on these boulders. In the winter of 2020, a dipole-dipole IP survey was conducted in this area and revealed weak to moderate anomalies proximal to the gold-bearing boulders, which will be investigated during the prospecting campaign in August.

3D model for Mythril

A geological 3D model of mineralization in the main area of the Mythril project was built using Leapfrog over the last few months, to improve our understanding of the system and its controls. The mineralized envelope was modelled to determine where additional Cu-Au-Mo-Ag mineralization could be discovered. In addition, a study of relationships between geology, alteration and geophysical responses led to the identification of new drilling targets. Some of these drilling targets consist of untested zones where a favourable geological and geophysical setting has been identified, whereas others aim to test the potential extensions of high-grade mineralized zones.

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 Wallbridge Mining Company Ltd, Probe Metals Inc., 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.

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.

Photos accompanying this announcement are available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/797a2322-b056-40a6-9852-dc78e1f82d06

https://www.globenewswire.com/NewsRoom/AttachmentNg/d6b2bd20-4758-460c-bb6b-8e473605b225

https://www.globenewswire.com/NewsRoom/AttachmentNg/0fb4a49c-ce59-407f-9a6e-ea5d72e465eb

https://www.globenewswire.com/NewsRoom/AttachmentNg/c35d4bbf-d180-4548-b39c-dd5059bf882e

https://www.globenewswire.com/NewsRoom/AttachmentNg/d03ca20e-be28-497e-b1d5-9d9e71214757

https://www.globenewswire.com/NewsRoom/AttachmentNg/dd395eae-95ec-477a-bc94-0e4a7e2cbb66

https://www.globenewswire.com/NewsRoom/AttachmentNg/b6da02f5-2ab8-4f2d-bb24-3a8d25d74795

https://www.globenewswire.com/NewsRoom/AttachmentNg/39558371-1ca3-47b3-b3d4-91997123fcfc

https://www.globenewswire.com/NewsRoom/AttachmentNg/66be7869-12b7-43bc-814f-9a2370758e9f

https://www.globenewswire.com/NewsRoom/AttachmentNg/31aabde8-303e-425f-a230-54d5decf5a7a

https://www.globenewswire.com/NewsRoom/AttachmentNg/89e22fc7-c3f9-4f4a-bf47-e162459255a6