Midland Begins Stripping Program on Its New Golden Nest Gold Showing Discovered on Lewis

2021-09-23 / @nasdaq

MONTREAL, Sept. 23, 2021 (GLOBE NEWSWIRE) -- Midland Exploration Inc. (“Midland” or the “Corporation”) (TSX-V: MD) is pleased to report the start of a stripping program on its new Golden Nest gold showing discovered in the summer of 2021 on its Lewis project, wholly owned by Midland and located approximately 60 kilometres southwest of the town of Chapais in the Abitibi region of Quebec.

This new project, acquired in April 2020, consists of 172 claims (95 km²) and covers a strategic position characterized by a regional flexure proximal to the Guercheville-Opawica deformation zone. The Lewis project is located approximately 60 kilometres northwest of the Nelligan deposit jointly held by Iamgold Corporation (75%) and Vanstar Mining Resources (25%).

Grab samples from the new Golden Nest showing yielded two gold grades of 10.2 g/t Au and 2.1 g/t Au. These values are located approximately 1.1 kilometres east of the Red Giant showing discovered by prospecting in 2020, where channel samples yielded values up to 0.35 g/t Au over 9.0 metres.

The Golden Nest gold showing is directly associated with an induced polarization (IP) anomaly that coincides with a sharp increase in resistivity and corresponds to a small outcrop of approximately 10 square metres exhibiting 2 to 10% pyrite mineralization. The IP anomaly associated with this gold-bearing zone may be traced over a distance of at least 400 metres to the west. The gold-bearing zone is entirely new, readily accessible by road and has never been drill-tested.

The recently launched stripping program is mainly designed to define the extent and investigate the extensions of the mineralized zone on the Golden Nest showing, and to improve our understanding of the structural controls and associated alteration patterns. During the program, the best unexplained IP anomalies located along the extensions of the showing will also be tested. Assay results from the stripping program are expected later this fall.

The Lewis gold property is located approximately 60 kilometres northwest of the Nelligan deposit, which hosts inferred resources estimated at 96.99 million tonnes grading 1.02 g/t Au for 3.19 million ounces of gold (Source: Nelligan NI 43-101 Technical Report and Initial Mineral Resource Estimate for the Nelligan Project, Quebec dated October 22, 2019, Filed on SEDAR on December 4^th 2019, prepared by Alain Carrier, Vincent Nadeau-Benoit and Stéphane Faure of InnovExplo Inc. for Iamgold Corp. and Vanstar Mining Resources). In addition, approximately 10 kilometres west of the Lewis property lies the former Lac Shortt mine, which historically produced 2.7 million tonnes at a grade of 4.6 g/t Au (Source: MERN-SIGEOM).

Cautionary statements:

Grab samples are selective by nature and reported values are not necessarily indicative of mineralized zones.

The true thickness of mineralized zones intersected in channel samples cannot be determined with the information currently available.

Mineralization occurring at the Nelligan and Lac Shortt gold deposits is not necessarily indicative of mineralization that may be found on the Lewis property held by Midland.

Quality control

Exploration programs are designed, and results are interpreted by Qualified Persons employing a Quality Assurance/Quality Control program consistent with industry best practices, including the use of standards and blanks for every 20 samples. Samples from the Lewis project were analyzed by atomic absorption (AA-23) at ALS Minerals laboratories in Val-d’Or, Quebec. All samples are also analyzed for multi-elements, using four-acid ICP–AES method (ME-ICP61) at ALS Minerals laboratories in Vancouver, British Columbia.

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 Corporation 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.

Midland Begins Stripping Program on Its New Golden Nest Gold Showing Discovered on Lewis

Figure 1

Abitibi Geology-Midland Gold Projects

Figure 2

Lewis Project Location

Figure 3

Lewis Geology and New 2020-21 Discovery

Figure 4

Lewis MAG TD and New 2020-21 Discovery

Figure 5

IP Ore-Vision Survey

Figure 6

IP Chargeability Map and Targets

Figure 7

Golden Nest New Showing

Figure 8

Golden Nest Sample A0358475

Figure 9

Golden Nest Sample A0361223