MONTREAL, Feb. 28, 2019 (GLOBE NEWSWIRE) -- Midland Exploration inc. (“Midland“) (TSX-V : MD) is pleased to announce preliminary results of an induced polarization (“IP”) geophysical survey currently in progress on its wholly owned (100% Midland) Mythril Cu-Au-Mo-Ag discovery.
Highlights
- A continuous zone of well-defined chargeability anomalies forming a >2 kilometers long by hundreds of meters wide corridor, associated with a distinct decrease of resistivity on most of its length.
- The zone of chargeability/resistivity anomalies is remarkably coincident with known Cu-Au-Mo-Ag showings and locally sourced mineralized float fields found in 2018, as well as with strong Cu-Mo soil anomalies.
- This zone of anomalies is very significant, as chalcopyrite was observed to be overwhelmingly dominant over other sulfides, in 193 mineralized rock samples (grab samples from outcrops and floats, channels) collected on the zone in 2018. Minor molybdenite and pyrite are also noted.
- Other weaker chargeability anomalies were also highlighted in the vicinity of the Mythril discovery.
- A 2 000 meters drilling campaign is planned to begin in the middle of March.
The Mythril discovery is located about 7 kilometres south of the Trans-Taïga road, James Bay Eeyou Istchee, Quebec. It is hosted in Archean rocks of the Superior province. In only nine days of prospecting in 2018, 11 new surface copper-gold-molybdenum-silver showings, and 2 molybdenum-only showings, were found, yielding values such as 2.74 % Cu, 0.44 g/t Au, 0.06 % Mo, 24.3 g/t Ag over 2.7 meters in channels on the Celeborn showing (open all directions), and 0.55 % Cu, 0.26 g/t Au, 0.25 % Mo, 5.39 g/t Ag over 3.3 meters on the Galadriel showing (open south and west). Fifty-seven (57) grab samples from mineralized outcrops along 2 km strike length returned an average of 2.03 % Cu, 0.48 g/t Au, 0.18 % Mo, 18.3 g/t Ag. One hundred and sixteen (116) mineralized floats were found, yielding an average of 1.92 % Cu, 0.87 g/t Au, 0.11 % Mo, 20.7 g/t Ag. Floats are scattered over almost 3 km strike length. Most of the floats are angular and interpreted to be of local origin. The Cu-Au-Mo-Ag mineralized system is more than 2 kilometers long, based on surface showings. The full dimensions of the system are not known yet. Cu-Mo-Au-Ag showings are found in altered paragneisses as well as in felsic intrusives. There is no historical drilling on the project. Note that grab samples are selective by nature and values reported are not representative of mineralized zones.
Preliminary IP Survey results
The 2019 dipole-dipole IP survey is covering an area of about 4.5 kilometers per 1.2 kilometer, over the Mythril discovery. The IP survey is performed along lines separated by 100 meters, and with a spacing of 25 meters (n=1 to 6) along lines. Results presented here are preliminary.
The most striking feature of the preliminary IP results is a 2 km long zone of chargeability anomalies, and hundreds of meters wide. It is defined by values > 10 mV/V (up to 26 mV/V) on true chargeability* (*resulting from a numerical inversion), over a background of 5-7 mV/V. It is associated with a marked decrease of resistivity (500 to 7,500 ohm*m, background 20,000 to 40,000 ohm*m) over most of its length (except on the two westernmost lines).
This zone of chargeability anomalies is closely coincident with the known Cu-Au-Mo-Ag showings and with strong Cu-Mo soil anomalies for most of its length i.e. between lines 3+00E and 10+00E (700 meters), and between lines 16+00E and L21+00E (500 meters). However, between lines 11+00E and 15+00E, it is offset by about 100 meters to the north from what was expected, in an area of thicker overburden that was not prospected nor covered by soil geochemistry. The chargeability anomaly is weaker to the east but still present and coupled with a decrease of resistivity; this is still significant since many showings, mineralized boulders and Cu-Mo soil anomalies are present in that area. The eastern part of the IP Dipole-Dipole survey is still in progress and will be completed in the next few days.
The zone of chargeability anomalies is coincident with a strong magnetic anomaly in its westernmost part (L0+00E to L3+00E), as seen on a magnetic inversion at -50m. Between L4+00E and L14+00E, the zone diverges from the magnetic anomaly and is rather located about 100 meters north from it. From L15+00E to the east, the zone of chargeability anomalies is again coincident with the same, but notably weaker, magnetic anomaly.
Rock samples collected in 2018 (193 outcrops grabs, channels and floats grab samples) on the zone of chargeability anomalies had chalcopyrite as the overwhelmingly dominant sulfide, with little other sulfides (minor molybdenite and pyrite). This is based on field observations and confirmed by ICP multi-element geochemistry done on all samples that shows a very strong correlation between Cu and S values (r=0.94), with a near-perfect 1:1 slope that corresponds to the chemical formula of chalcopyrite (see attached figures).
Other weaker and more discontinuous chargeability anomalies are present and are still unexplained. A gradient array IP survey will also cover a larger area surrounding the Mythril discovery and is currently in progress.
Upcoming drilling campaign
Midland is very pleased by the preliminary results of the IP survey, that indicate a significant volume of electrically chargeable material that closely mimics the known Cu-Au-Mo-Ag mineralized trend as well as Cu-Mo soil anomalies, for over 2 km strike length. Following these very encouraging results, a 2000 meters (minimum) drilling campaign is planned to begin around the middle of March, to test the best IP anomalies, showings and soil anomalies.
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 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.
Geophysical data presented in this release are preliminary. Inversions were performed by geophysicists from Géophysique TMC.
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, Osisko Mining Inc., SOQUEM 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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