Midland Discovers a New High-Grade Copper-Gold-Molybdenum-Silver Mineralized System of at Least 700 Meters Strike Length on the Mythril Project in James Bay
MONTREAL, Oct. 16, 2018 (GLOBE NEWSWIRE) -- Midland Exploration inc. (“Midland“) (TSX-V : MD) is pleased to announce a new recent discovery of a copper-molybdenum-gold-silver system its wholly owned (100% Midland) Mythril (formerly Lothlorien) project in James Bay, Quebec. The Cu-Au-Mo-Ag mineralized system is at least 700 meters long on surface, oriented east-west, open in both directions. The mineralized system is interpreted based on outcrops and locally sourced, angular float fields. It is interpreted to be of the “Cu-Au-Mo porphyry” type. The full dimensions of the mineralization are not known yet.
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Highlights
- Cu-Au-Mo-Ag mineralized system interpreted over 700 meters, open east and west.
- Fifty-four (54) new high-grade Cu-Au-Mo-Ag mineralized floats; average values of 2.61% Cu, 1.25 g/t Au, 0.13% Mo, 28.7 g/t Ag over the 54 floats (grab samples); maximum values of: 13.2% Cu; 16.8 g/t Au; 0.58% Mo; 112 g/t Ag. Float are concentrated in five major fields. Most of the float are angular and are interpreted to be locally derived (<100m transport distance).
- Channel result of 2.74% Cu, 0.44 g/t Au, 0.06% Mo, and 24.3 g/t Ag over 2.7 meters, including 4.52% Cu, 0.65 g/t Au, 0.1% Mo, and 40.1 g/t Ag over 1.5 meters on the Celeborn showing. Mineralization open in all directions.
- New “Arwen” Cu-Au-Mo-Ag mineralized float field, that returned high-grade gold values, with up to 16.8 g/t Au. It is the easternmost float field.
- New “Legolas” showing with grab sample of 4.89% Cu, 1.5 g/t Au, 46 g/t Ag.
The following tables summarize the results of channels and of the main float fields found on the mineralized trend.
| Table 1: Summary of major new float fields found in September 2018 | |||||||||
| Float Field | N float | Average Values (grab samples) | Max Values (grab samples) | ||||||
| Cu (%) | Au (g/t) | Mo (%) | Ag (g/t) | Cu (%) | Au (g/t) | Mo (%) | Ag (g/t) | ||
| Celeborn | 22 | 4.20 | 0.95 | 0.19 | 40.9 | 13.2 | 2.92 | 0.58 | 112 |
| Arwen | 9 | 1.13 | 3.5 | 0.06 | 22.4 | 3.57 | 16.8 | 0.19 | 42.5 |
| Legolas | 6 | 2.28 | 0.81 | 0.11 | 20.8 | 5.13 | 1.21 | 0.26 | 38 |
| North | 3 | 0.74 | 0.44 | 0.06 | 15.7 | 0.88 | 0.64 | 0.11 | 24.4 |
| 80m W Celeborn | 7 | 2.29 | 0.68 | 0.11 | 23.7 | 7.97 | 1.47 | 0.56 | 64.3 |
| Table 2: Channel results from the Celeborn and Galadriel showings | ||||||||
| Channel | From (m) | To (m) | Width (m) | Cu (%) | Au (g/t) | Mo (%) | Ag (g/t) | Comment |
| Celeborn-R1 | 0 | 2.7 | 2.7 | 2.74 | 0.44 | 0.06 | 24.3 | Open all directions |
| including | 0 | 1.5 | 1.5 | 4.52 | 0.66 | 0.1 | 40.1 | |
| Galadriel-R1 | 1.25 | 1.5 | 0.25 | 6.34 | 0.78 | 0.23 | 49.4 | Open east |
| Galadriel-R2 | 1.4 | 2.9 | 1.5 | 0.64 | 0.13 | 0.04 | 5.49 | |
| Galadriel-R3 | 0 | 2.5 | 2.5 | 0.6 | 0.28 | 0.03 | 5.8 | Open south |
| Galadriel-R4 | 0 | 3.3 | 3.3 | 0.55 | 0.26 | 0.25 | 5.39 | Open south, west |
Note that grab samples are selective by nature and values reported are not representative of mineralized zones.
Note that true thicknesses of the channels cannot be determined at this time with the information available
The Mythril project is located about 7 kilometers south of the Trans-Taïga road, James Bay Eeyou Istchee, Quebec. The project was initiated in June/July 2018 following the discovery of three Cu-Au-Mo-Ag showings, found over 225 meters laterally. The “Galadriel” showing had returned up to 4.3 g/t Au; 7.19% Cu; 0.45% Mo; 61.9 g/t Ag, in grab samples. The “Celeborn” showing had returned up to 0.95% Cu, 0.66 g/t Au and 21.2 g/t Ag in grab samples from three locally sourced float. The “76” showing had returned 0.66% Cu, 1.0 g/t Au and 15.4 g/t Ag. Only half a day of prospecting was spent on the project in June. Exploration in September consisted in additional prospecting, as well as manual trenching and channel sampling of the showings.
Descriptions of showings and float fields
The Celeborn showing was manually stripped and exposed on a 2.7 meters x 2.5 meters area. A single channel performed on the trench yielded 2.74% Cu, 0.44 g/t Au, 0.06% Mo, and 24.3 g/t Ag over 2.7 meters, including 4.52% Cu, 0.66 g/t Au 0.1% Mo and 40.1 g/t Ag over 1.5 meters. Mineralization at Celeborn is open in all directions, in thickness (N-S) as well as laterally (E-W), under surficial deposits. Twenty-two (22) locally sourced mineralized float were found in a 25 meters radius around the showing. They yielded up to: 13.2% Cu; 2.92 g/t Au; 0.58% Mo; 112 g/t Ag in grab samples; the average grade of the twenty-two (22) float is 4.2% Cu, 0.95 g/t Au, 0.19% Mo and 40.9 g/t Ag. Mineralization in the trench and float mainly occurs as disseminated chalcopyrite and molybdenite in paragneisses that exhibit strong potassic alteration and/or silicification. Semi-massive chalcopyrite clusters are also found in felsic intrusions; quartz-chalcopyrite veins are also found in the paragneisses.
The Galadriel showing is located about 150 meters east of Celeborn. It was manually trenched over a 12 meters x 3.5 meters zone. Mineralization occurs in its eastern part as a semi-massive chalcopyrite zone found in a felsic dyke and in the surrounding paragneiss, strongly affected by potassic alteration. Channel R2 returned 0.64% Cu, 0.13 g/t Au, 0.04% Mo, and 5.49 g/t Ag over 1.5 meters, while channel R1 yielded 6.34% Cu, 0.78 g/t Au, 0.23% Mo and 49.4 g/t Ag over 0.25 meters. In its western part, the mineralized zone becomes larger and more disseminated and returned 0.60% Cu, 0.28 g/t Au, 0.03% Mo and 5.8 g/t Ag over 2.5 meters in channel R3 and 0.55% Cu, 0.26 g/t Au, 0.25% Mo, and 5.39 g/t Ag over 3.3 meters in channel R4, mainly in the paragneiss with strong potassic alteration. Mineralization in channels R3 and R4 is open to the south. The Galadriel showing remains open east and west.
The Legolas showing is located about 160 meters west of Celeborn, and more than 300 meters west of Galadriel. The showing consists in two grab samples of paragneisses with disseminated to semi-massive chalcopyrite, collected on a 2 meters x 1-meter trench, that yielded 4.89% Cu, 1.5 g/t Au, 46 g/t Ag. Six (6) locally sourced mineralized float were also discovered a few meters from the showing. These floats have yielded up to: 5.13% Cu; 1.22 g/t Au; 0.26% Mo; 38 g/t Ag in grab samples, with an average of 2.28% Cu, 0.81 g/t Au, 0.11% Mo and 20.8 g/t Ag, for the 6 floats. The float are biotite-paragneisses with disseminated or stringers of chalcopyrite, as well as felsic intrusives that are strongly mineralized in semi-massive chalcopyrite.
The “Arwen” float field is located 250 meters east of Galadriel. In this area, a series of nine (9) locally sourced float of biotite-paragneiss, containing disseminated to semi-massive chalcopyrite were found. The nine floats yielded an average of 1.13% Cu, 3.5 g/t Au, 0.06% Mo and 22.4 g/t Ag in grab samples. The Arwen float field appear to carry locally high gold grades, with two float yielded high gold grades of 16.8 g/t Au and 9.09 g/t Au in grab samples. The Arwen float field is the richest in gold and is located at the known eastern edge of the mineralized trend; the trend is still open to the east.
The “Go West” showing is found 250 meters west of Celeborn. It is a mineralized layer at least 50 centimeters thick with disseminated chalcopyrite-pyrite-magnetite at the bottom of a paragneiss outcrop. It was followed over 30 meters laterally. It returned 0.45% Cu and 0.02% Mo, as well as 0.37% Cu, 0.02% Mo, in two grab samples. A locally sourced paragneiss float located at the bottom of the outcrop also yielded 1.87% Cu, 0.65 g/t Au 0.25% Mo, and 20 g/t Ag in a grab sample.
A field of seven (7) float of paragneisses and felsic intrusives mineralized in chalcopyrite and/or molybdenite was found 80 meters west of Celeborn. They yielded up to: 7.97% Cu; 1.47 g/t Au; 0.56% Mo; 64.3 g/t Ag, in grab samples, with an average of 2.29% Cu, 0.68 g/t Au, 0.11% Mo, and 23.7 g/t Ag for the seven floats. These floats could originate from the Celeborn showing or represent a distinct mineralized source.
Three additional biotite paragneiss float mineralized in chalcopyrite were also found more than 300 meters north-north-west of the Galadriel showing. They yielded up to: 0.88% Cu; 0.64 g/t Au; 0.11% Mo; 24.4 g/t Ag, in grab samples. The source of these float remains unknown.
The Galadriel, Celeborn, Legolas, Go West showings and the Arwen float field form a perfectly linear trend, oriented N070, at least 700 meters long and open to the west and east. The association of many showings with felsic dykes of varying grain size and the copper-gold-molybdenum-bismuth-silver association suggest that the mineralization is of the “porphyry copper-gold-molybdenum” type. However, it has clearly been affected by amphibole-grade regional metamorphism and deformation, which has obliterated the original texture of the rock and make it more difficult to recognize the deposit type. Future geoscientific investigations will be able to refine this model.
Next phases of work
Midland is very satisfied with these significant results obtained from only 4 days of prospecting in September on its Mythril project. An extensive soil geochemical survey as well as additional prospecting were performed during the last weeks to better define the extent of the mineralized system. A geophysical survey (induced polarization) will be performed in fall or winter to define mechanical trenching and eventual drilling targets on this very high potential new discovery.
Quality Control
Exploration program design and interpretation of results is 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 by standard 30-gram fire-assaying with inductively coupled plasma atomic emission spectroscopy (ICP-AES) or gravimetric finish at ALS Minerals laboratories in Val d’Or, Québec or Sudbury, Ontario. All samples are also analysed for multi-elements, using four-acid ICP–AES method. Samples that exceed 1% copper, zinc or nickel are reanalyzed by four-acid ICP-AES optimized for high grades.
The technical or scientific information in this press release has been prepared by Sylvain Trepanier, P.Geo., VP Exploration for James Bay and Northern Quebec at Midland, a “qualified person” as defined by NI 43-101.
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 Agnico Eagle Mines Limited, IAMGOLD Corporation, Osisko Mining Inc., Altius Minerals Corp., SOQUEM INC., NioBay Metals Inc., Nuvavik 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.
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.
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