MONTREAL, Nov. 27, 2018 (GLOBE NEWSWIRE) -- Midland Exploration Inc. (“Midland“) (TSX-V : MD) is pleased to announce new map-designated claim acquisitions for the James Bay Mythril Cu-Au-Mo-Ag project while also significantly increasing its land position over other favourable areas, with the map designated acquisition of six (6) new claim blocks.
Moreover, Midland will begin shortly an important heliborne magnetic and electromagnetic survey over the Mythril main block surrounding the discovery. A ground induced polarization Dipole-Dipole (IP-Dipole-Dipole) and gradient (IP-Gradient) survey will follow next winter to cover the Mythril discovery and its extensions.
Highlights
- Midland solidifies his land position by map designated staking of several new claims in the area with a total of 1581 currently active claims covering approximately 804 square kilometres.
- New heliborne Mag-EM survey of 2,300 line kilometres commencing and IP-Dipole-Dipole & IP-Gradient survey totalling 195 line kilometres will follow in early winter 2019
- Soil survey results were received and confirm its effectiveness. While confirming the current strike of known showings and boulder fields, it also identified a new area to the east.
| Table 1: Summary of the best new Cu-Au-Mo-Ag showings found in 2018 | ||||||||||
| Showing | N Samples | Average Values (grab samples) | Max Values (grab samples) | |||||||
| Cu (%) | Au (g/t) | Mo (%) | Ag (g/t) | Cu Eq (%)* | Cu (%) | Au (g/t) | Mo (%) | Ag (g/t) | ||
| Eriador | 19 | 2.47 | 0.29 | 0.13 | 22.1 | 3.35 | 12.6 | 1.02 | 1.7 | 69.2 |
| G Havens | 2 | 5.26 | 0.85 | 0.01 | 40.4 | 6.12 | 9.22 | 1.00 | 0.01 | 69.8 |
| Liv | 5 | 3.25 | 0.61 | 0.12 | 29 | 4.34 | 9.53 | 1.51 | 0.24 | 55.6 |
| Misty | 6 | 1.53 | 0.31 | 0.02 | 14 | 1.91 | 2.92 | 0.84 | 0.12 | 28.7 |
| Haldir | 10 | 0.93 | 0.38 | 0.15 | 5.2 | 1.83 | 2.75 | 1.31 | 1.15 | 15.5 |
| Table 2: Summary of the best new floats found in 2018 | ||||||||||
| Float Field | N floats | Average Values (grab samples) | Max Values (grab samples) | |||||||
| Cu (%) | Au (g/t) | Mo (%) | Ag (g/t) | Cu Eq (%)* | Cu (%) | Au (g/t) | Mo (%) | Ag (g/t) | ||
| Celeborn | 22 | 4.20 | 0.95 | 0.19 | 40.9 | 5.87 | 13.2 | 2.92 | 0.58 | 112 |
| Eriador Flts | 7 | 3.33 | 0.55 | 0.003 | 18 | 3.81 | 16.95 | 3.09 | 0.02 | 43.8 |
| G Havens Flts | 3 | 2.87 | 0.22 | 0.02 | 32.8 | 3.32 | 4.15 | 0.67 | 0.04 | 49.4 |
| Arwen Flts | 11 | 1.20 | 3.42 | 0.05 | 22.4 | 3.68 | 3,57 | 16.8 | 0,19 | 42,5 |
| Luthien Flts | 11 | 1.48 | 0.67 | 0.06 | 17.2 | 2.27 | 4.95 | 2.14 | 0.27 | 44.4 |
| Haldir Flts | 19 | 0.67 | 0.44 | 0.18 | 8 | 1.75 | 1.92 | 1.03 | 0.44 | 23.8 |
*Metal prices used for Cu Eq calculation: Au $1200/oz, Cu $2.83/lb, Ag $14/oz, Mo $11.8/lb and a metal recovery of 100% is assumed.
Note that grab samples are selective by nature and values reported are not representative of mineralized zones.
| Table 3: Summary of the 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 true thicknesses of the channels cannot be determined at this time with the information available
Mythril; A significant new Cu-Au-Mo-Ag surface discovery in James Bay
The Mythril project discovery is located about 7 kilometres south of the Trans-Taïga road, James Bay Eeyou Istchee, Quebec. In only 4 days of prospecting between June to September 2018, four (4) new high-grade Cu-Au-Mo-Ag surface showings were found that yielded values such as 2.74% Cu, 0.44 g/t Au, 0.06% Mo, and 24.3 g/t Ag over 2.7 metres from channels (Celeborn showing). Furthermore, fifty-four (54) new high-grade mineralized floats were also found. The average grade of the 54 floats were 2.61 % Cu, 1.25 g/t Au, 0.13 % Mo, 28.7 g/t Ag (grab samples).
An additional four (4) days of prospecting during October successfully extended the high-grade Cu-Au-Mo-Ag mineralized trend from 0.7 to 2.0 kilometres (remains open to the east and west). Nine (9) new showings yielded an average values of 2.04 % Cu, 0.36 g/t Au, 0.11 % Mo, and 17.6 g/t Ag (from 45 mineralized >0.1% Cu grab samples), with maximum values of up-to: 12.65 % Cu ; 1.7 % Mo ; 1.51 g/t Au ; 69.8 g/t Ag. Also, fifty-six (56) new Cu-Au-Mo-Ag mineralized floats (>0.1 % Cu) were discovered in the eastern and western extensions of the system. Average values of 1.33 % Cu, 0.52 g/t Au, 0.09 % Mo, 13.3 g/t Ag over 56 floats (grab samples). Maximum values of : 16.95 % Cu; 4.91 g/t Au; 0.44 % Mo; 49.4 g/t Ag. Most of the floats were angular and are interpreted to be locally derived (<100m transport distance).
Significant claim acquisition; A strong regional land position
The main Mythril property, hosting the September and October 2018 Cu-Au-Mo-Ag showings, was enlarged and now consists of a total of 603 claims covering about 307 square kilometres. A new property, 1 kilometre east of the expanded Mythril project, was acquired and currently consists in a total of 408 claims covering about 207 square kilometres. A second property of 374 claims that cover about 189 square kilometres lies 21 kilometres to the northeast while a third property of 93 claims covering 47 square kilometres lies 49 kilometres east-northeast of Mythril. The fourth and fifth new properties consist of 84 and 9 claims covering 43 and 4 square kilometres and are located 31 and 41 kilometres southeast and east of Mythril, respectively. The sixth property lies 27 kilometres north of Mythril and consists of 10 claims covering about 5 square kilometres.
These new claim acquisitions are located in areas deemed favourable based on observations made on the known showings, publicly available data as well as reconnaissance work performed by Midland this summer and are all wholly owned (100% Midland). These new properties are also covering the best Cu-Mo lake sediment anomalies highlighted by the previous regional government surveys.
Extensive soil geochemical survey; New target area identified
During the October campaign, Midland also conducted an extensive B-horizon geochemical soil survey to cover the known mineralized system and its possible extensions to the east and west. A total of 328 soil samples were collected along the 3.8-kilometre-long survey with a line spacing of 100 metres and sampling spacing of 15 metres. The survey was successful and confirmed the trend of the mineralized corridor exposed by prospecting and its presence between the recent mineralized outcrops and boulder fields’ gaps. The survey returned values of up to 0.12% Cu, 80 ppm Mo, 0.1 g/t Au. Moreover, the survey also identified a new target area to the east of the current known extension of the mineralized trend with values of up to 116 ppm Cu.
Upcoming geophysical work; Efficient tools for additional targets
An airborne high-resolution magnetic and electromagnetic survey as well as a ground induced polarization survey are also planned for the coming weeks in the discovery area. Because this area has not been flown with a modern electromagnetic survey, Midland decided to cover the main Mythril block with a helicopter-borne high-resolution magnetic and electromagnetic survey using a 150 metres line spacing, for a survey totalling approximately 2,300 line kilometres. This survey is planned to begin by the end of November.
Also, a ground IP-Dipole-Dipole (100 m line spacing) totalling about 30 kilometres will cover the Mythril discovery with 1 kilometre-long lines. Moreover, and IP-Gradient survey (200 m line spacing) totalling about 165 line kilometres will cover the lateral extensions of Mythril with three (3) kilometres-long lines over a lateral distance of 10 kilometres. The mineralization identified in outcrops and floats at Mythril consists mainly in disseminated and semi-massive chalcopyrite. This type of mineralization responds very well to IP and the survey will help to outline the overall mineralized envelope at Mythril as well as new mineralized zones.
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.
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., 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.
This press release was prepared by Mario Masson, P.Geo., VP Exploration for Midland and Qualified Person as defined by NI 43-101. The QP has reviewed and approved the technical disclosure. For further information, please consult Midland’s website or contact:
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.
Eight photos accompanying this announcement are available at:
http://www.globenewswire.com/NewsRoom/AttachmentNg/1a8b96b1-3c25-471f-833d-5f03074c485e
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