MONTREAL, May 15, 2018 (GLOBE NEWSWIRE) — Midland Exploration inc. (“Midland“) (TSX-V:MD) is pleased to announce the results of an induced polarization (“IP”) geophysical survey carried out jointly 50/50 with Osisko Mining Inc. (“Osisko”) in the Eleonore mine area. This strategic alliance, initiated in 2016, covers an area of more than 100 kilometres strike length deemed highly favourable and located respectively north-west of the Eleonore Mine and south-east of the Cheechoo gold prospect.
The IP survey, performed in February 2018, covered an area where a field of copper-rich, glacially transported, sub-angular diorite boulders were discovered (see September 26, 2017 press release). Four (4) diorite boulders sampled in 2016 and 2017 returned 8.28% Cu, 6.85% Cu, 4.54% Cu and 3.45% Cu in grab samples (note that grab samples are selective by nature and values reported may not be representative of mineralized zones). The Cu±Mo±Ag±Bi geochemical signature of the boulders and the dioritic host rock suggest a porphyry copper system. These boulders are all found within a 100-meter diameter zone, which suggests a local source.
The IP survey revealed two strong zones of chargeability anomalies that could indicate areas of disseminated copper or iron sulfides within the bedrock (see attached figures). The first strong IP chargeability anomaly is located less than 100 metres north-east (up-ice) from the copper-bearing boulder field and is a prime target for follow-up. The second strong IP chargeability anomaly, located about 600 metres north of the boulders, is also very interesting because it is also associated with a preeminent magnetic high and an electromagnetic anomaly that were delineated by a historical Mag-EM airborne survey performed in the area. Such a combination of magnetic and chargeability anomalies is typical of the copper-rich core zones of porphyry copper deposits, which contain both sulfides and magnetite.
A mechanical trenching campaign will be carried out in June over the best geophysical anomalies detected by the IP survey. Additional prospecting and till sampling will also be performed in other parts of the project where significant gold anomalies in bedrock and glacial tills were identified in 2016/2017.
Rock samples from the EJV property are assayed by standard 30 gram fire-assaying with AA or gravimetric finish at AlS laboratories in Val d’Or, Québec or Sudbury, Ontario. All samples are also analyzed for multi-elements, using four-acid –ICP –AES method at AlS laboratories. Exploration program design, Quality Assurance/Quality interpretation of results is performed by qualified persons employing a Quality Assurance/Quality Control program consistent with the industry best practices. Standards are included with every 20 samples for Quality Assurance/Quality Control purposes by the Corporation as well as the lab.
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. 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 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. 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
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.
To view Figure 1, please click on the following link: http://resource.globenewswire.com/Resource/Download/05dc1b3b-9b56-4234-989b-905d8774e9c7
To view Figure 2, please click on the following link: http://resource.globenewswire.com/Resource/Download/9c27bc00-8379-43b8-a862-ed917cb81bfd