MONTREAL, Oct. 27, 2020 (GLOBE NEWSWIRE) -- Midland Exploration Inc. (“Midland”) (TSX-V: MD), in partnership with Probe Metals Inc. (“Probe”), is pleased to announce the identification of three high-priority areas following the OreVision induced polarization (“OreVision IP”) survey conducted in September 2020, less than four (4) kilometres south of the Fenelon deposit and the Tabasco, Area 51 and Reaper zones held by Wallbridge Mining Company Ltd (“Wallbridge”).
Highlights:
- Several high-priority target areas identified 4 km south of Wallbridge’s Fenelon deposit
- New OreVision IP targets combined with structural complexities
- Geochemical survey underway
- Drilling program planned for the winter of 2021
Geophysical surveys conducted during the summer of 2020 included a new OreVision IP survey totalling 42.5 kilometres and covering a structural domain similar to the Fenelon-Tabasco-Area 51 gold zone held by Wallbridge. The geophysical interpretation indicates the presence of several high-chargeability axes that are commonly combined with resistivity highs. Some of these axes were deemed high priority as they are located in highly prospective areas characterized by a high degree of structural complexity. This complexity is mainly the result of a higher density of NW-SE, E-W, and ENE-WSW-trending structures.
In addition, a geochemical sampling program covering the IP grid is also underway; to date, 400 of the 520 sites have been sampled. A drilling program is planned for the winter of 2021, to test the best targets combining geophysical and geochemical anomalies and structural complexities.
The Gaudet-Fenelon JV property (50% Midland / 50% Probe) consists of 226 claims (125 square kilometres) covering the Lower Detour Gold Trend (“LDGT”) over a strike length of 35 kilometres and is adjacent to the Wallbridge property hosting the Fenelon, Tabasco and Reaper gold zones.
Cautionary statement:
Mineralization occurring at Fenelon, Tabasco, Area 51 and Reaper zones is not necessarily indicative of mineralization that may be found on project Gaudet/Fenelon JV held by Midland/Probe described in this press release.
About Probe
Probe is a leading Canadian gold exploration company focused on the acquisition, exploration, and development of highly prospective gold properties. The Company is committed to discovering and developing high-quality gold projects, including its key asset the Val-d’Or East Gold Project, Quebec. The Company is well-funded and controls a strategic land package of approximately 1,000-square-kilometres of exploration ground within some of the most prolific gold belts in Quebec. The Company was formed as a result of the sale of Probe Mines Limited to Goldcorp Inc. in March 2015. Newmont Corporation currently owns approximately 12% of the Company.
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 Probe Metals Inc., Wallbridge Mining Company Ltd., 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, who 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.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.
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