Midland Provides an Update on Its James Bay Gold Projects and Reports the Discovery of New Gold Occurrences

2019-10-10 / @nasdaq

MONTREAL, Oct. 10, 2019 (GLOBE NEWSWIRE) -- Midland Exploration Inc. (“Midland”) (TSX-V: MD) is pleased to provide an update on its gold exploration programs underway in the James Bay region. New gold occurrences were discovered during the summer 2019 field programs on the Galinée, Elrond and Helm’s Deep projects. In addition, Midland would like to announce it is actively seeking new partnerships to launch new exploration campaigns for gold in the James Bay region.

Galinée

The Elsa gold zone on the Galinée project was discovered by Midland in 2018. This zone yielded grades up to 14.85 g/t Au in grab samples in June 2018 (press release dated August 26, 2018; note that grab samples are selective by nature and reported values are not representative of mineralized zones). Manual trenching and channel sampling conducted in September 2018 returned the following results: 3.26 g/t Au over 2.4 metres, including 7.1 g/t Au over 1.0 metre; 2.62 g/t Au over 0.8 metre; 1.36 g/t Au over 0.6 metre; and 1.91 g/t Au over 0.7 metre (press release dated May 23, 2019; the true thickness of mineralized zones intersected by channel samples has not been determined). These channels cover a lateral extent of 12 metres. Gold mineralization at Elsa is hosted in a dextral shear zone with numerous quartz-tourmaline-pyrite±arsenopyrite±chalcopyrite veins accompanied by strong sericite and massive tourmaline alteration in the wall rocks. Visible gold was observed in many locations in shear-hosted quartz veins. The gold mineralization appears to be orogenic.

An induced polarization survey conducted in the spring of 2019 clearly identified a strong 500-metre-long chargeability anomaly directly coincident with the Elsa gold showing. Another strong 600-metre-long chargeability anomaly was also defined southeast of Elsa. The Elsa zone is a high-priority drilling target.

In the west part of the Galinée project, a new gold showing was discovered in June 2019. A shear zone with mm-scale quartz veinlets and trace pyrite graded 0.96 g/t Au (grab sample; unpublished results). Follow-up work was carried out on this gold occurrence and the results will be received sometime this fall.

Midland is seeking partners to advance this high-potential project with drill-ready targets.

Elrond

The Elrond project sits at the contact between the La Grande and Opinaca geological subprovinces, which hosts several gold deposits and showings in the James Bay region (e.g., Éléonore, La Grande Sud, Cheechoo, Corvet-Est, Orfée, La Pointe). In 2017, Midland discovered several new gold showings in this area where no previous occurrences were reported.

In the southwest part of the Elrond project, grab samples taken in amphibolite with strong arsenopyrite mineralization yielded grades of 4.52 g/t Au and 3.23 g/t Au (press release dated October 12, 2017). Approximately 100 metres further north, a grab sample of silicified amphibolite collected in a shear zone graded 1.81 g/t Au. Follow-up work on this showing in July 2019 confirmed the initial gold grade, with new samples grading 2.17 g/t Au and 1.69 g/t Au (grab samples; unpublished results). Also in July 2019, in the same area, a grab sample of felsic dyke graded 2.49 g/t Au, accompanied by very high bismuth values reaching 0.21% Bi.

In the northeast part of the project, another gold occurrence with high molybdenum and bismuth values was discovered in 2017. Here, anomalous values of 0.89 g/t Au, 0.43 g/t Au, and 0.38 g/t Au were reported in grab samples (press released dated October 12, 2017). New grab samples collected in the same area in June 2018 yielded even higher gold values, grading 1.63 g/t Au and 1.35 g/t Au (unpublished results). Gold mineralization is accompanied by strong molybdenum (up to 0.06% Mo) and bismuth (up to 0.05% Bi) values. Mineralization occurs within a decimetre-scale fault zone, where disseminated mineralization is observed in host rocks over a lateral extent of approximately 4 metres by 3 metres wide. The host rock is a pink late pegmatitic biotite granite. The mineralized zone remains open to the northeast. In July 2019, two additional grab samples collected in the northeast part of the project returned anomalous gold values, between 0.11 g/t Au and 0.23 g/t Au accompanied once again by very high Mo (up to 0.23% Mo) and Bi (up to 0.02% Bi) values, still in pegmatitic granites (unpublished results).

Many gold occurrences on the Elrond project exhibit an Au-Bi-Mo-W metal footprint and are associated with granitic/pegmatitic dykes, a setting typical of intrusion-related gold deposits. Work carried out in 2019 confirms the very strong potential on this project for this type of mineralization, typically associated with very high-tonnage gold deposits. Midland is seeking partners to conduct further prospecting work on this high-potential project.

Helm’s Deep

The Helm’s Deep project was launched in 2017, following the discovery of a new gold showing, where a grab sample of strongly sheared sandstone containing trace pyrite graded 2.42 g/t Au (press release dated October 12, 2017). Grab samples of sandstone with quartz-tourmaline-biotite veins and calc-silicate alteration also yielded anomalous values of 0.72 g/t Au and 0.68 g/t Au. Work carried out in 2018 and 2019 (unpublished results) resulted in the discovery of new gold showings on Helm’s Deep. In 2018, a quartz-pyrite-chalcopyrite veining system graded 0.74 g/t Au, 0.06% Cu and 7.1 g/t Ag over 0.5 metre in channel sample. Also in 2018, a grab sample of sandstone injected with quartz veinlets with chalcopyrite mineralization graded 1.13 g/t Au, 23.5 g/t Ag and 2.12% Cu. During the July 2019 field campaign, a grade of 2.95 g/t Au was obtained in a grab sample of a feldspar porphyry dyke with quartz veinlets and trace pyrite. Finally, in July 2019, a grab sample from a locally derived boulder of amphibolite with strong quartz veining was sampled and graded 0.64 g/t Au.

The Helm’s Deep project exhibits numerous zones with quartz-tourmaline veining and spectacular calc-silicate and biotite alteration zones in metasedimentary rocks, reminiscent of alteration zones associated with gold mineralization at the Éléonore* mine. The Helm’s Deep project is also adjacent to the Clearwater project held by Eastmain Resources, which hosts the Clearwater* gold deposit as well as the new Percival* discovery, located approximately 2 kilometres north of Helm’s Deep. Midland is seeking a new partner to continue prospecting work on the Helm’s Deep project.

Éléonore Centre

The Éléonore Centre project is located approximately 30 kilometres southwest of the Éléonore mine. The stratigraphic sequence on the project includes wackes and conglomerates of the sedimentary Low Formation, which is the main host unit for mineralization at the Éléonore mine. Previous work by Midland on Éléonore Centre identified that the contact between conglomerates of the Low Formation and adjacent amphibolites is a gold-bearing shear zone injected by quartz-tourmaline-pyrite-scheelite veins. On the Golden Gun West showing, grades up to 11.96 g/t Au in grab sample and 0.44 g/t Au over 4.0 metres in channel sample were obtained in a shear zone with quartz-tourmaline-pyrite-scheelite veins at the conglomerate/amphibolite contact (press release dated August 22, 2013). A grade of 18.8 g/t Au was also obtained from a grab sample of an amphibolite-hosted quartz vein (press release dated August 22, 2013). This favourable contact between conglomerates and amphibolites has been traced over nearly 20 kilometres on the project but has never been drill-tested. The Éléonore Centre project therefore offers strong potential for orogenic gold deposits and is ready to be drill-tested. Midland is seeking new partnerships for future drilling programs.

Update of the Mythril Cu-Au-Ag-Mo project

Phase 3 of drilling on the Mythril project has been recently completed. Ten holes for a total of 3397 meters have been completed during this phase. With current laboratory delays, complete assay results are expected for the end of October.

* Mines and deposits located near Midland projects in the James Bay region

Éléonore mine: The Éléonore mine held by Newmont-Goldcorp hosts 3.3 million ounces of gold in proven and probable reserves, 0.5 million ounces in measured and indicated resources, and 0.6 million ounces in inferred resources.

Clearwater deposit: The Clearwater deposit held by Eastmain Resources hosts measured and indicated resources totalling 853,000 ounces at a grade of 6.18 g/t Au, and inferred resources of 500,000 ounces at a grade of 6.53 g/t Au.

Percival discovery: The Percival discovery, made by Eastmain Resources in 2018, graded up to 2.35 g/t Au over 87 metres in drill hole.

Cautionary Statement: Mineralization occurring at the mines and deposits listed above is not necessarily representative of mineralization that may be found on projects held by Midland described herein.

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. Rock samples on the projects 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 analysed for multi-elements, using 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 for James Bay and Northern Quebec at Midland and Qualified Person as defined by NI 43-101, who has 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.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.

Midland Provides an Update on Its James Bay Gold Projects and Reports the Discovery of New Gold Occurrences

Midland James Bay gold projects

Midland James Bay gold projects

Galinée geology

Galinée geology

Elsa gold zone 2018 channels

Elsa gold zone 2018 channels

Elsa gold zone

Elsa gold zone

Galinée IP survey chargeability 2019

Galinée IP survey chargeability 2019

Elrond project geology and gold showings

Elrond project geology and gold showings

Elrond project south - 2017/2019 gold showings

Elrond project south - 2017/2019 gold showings

Elrond project - Gold-bearing pegmatites

Elrond project - Gold-bearing pegmatites

Helm's Deep project - Gold showings

Helm's Deep project - Gold showings

Eleonore Centre project geology

Eleonore Centre project geology

Eleonore Centre gold showings

Eleonore Centre gold showings

Eleonore Centre favorable contact

Eleonore Centre favorable contact

Eleonore Centre 2013 channels - Golden Gun west

Eleonore Centre 2013 channels - Golden Gun west