MONTREAL, June 02, 2020 (GLOBE NEWSWIRE) — Midland Exploration Inc. (“Midland”) (TSX-V: MD) is pleased to announce the commencement of its first exploration campaign on the Gaudet gold project, consisting in a high resolution aeromagnetic survey (“HR Mag”), as well as an induced polarization (“IP”) survey on its Jeremie project. The two projects are located near the Fenelon/Tabasco deposit and the recent Area 51 and Reaper discoveries held by Wallbridge Mining Company (“Wallbridge”).
Highlights:HR Mag survey (1,200 km) on Gaudet, 3 km south of Wallbridge’s Fenelon projectNW-SE-trending structures and discrete EM conductors identified on GaudetSeveral untested VTEM axes trending NW-SE identified on JeremieMidland is planning a HR Mag survey totalling approximately 1,200 kilometres, to be conducted on its Gaudet gold project, located 3 kilometres south of the Fenelon project held by Wallbridge. The survey is mainly designed to detail the structural setting in areas where magnetic axes and electromagnetic anomalies exhibit NW-SE orientations, similar to the orientation of the Tabasco zone held by Wallbridge.The Gaudet property consists of 94 claims (53 km2) and covers, over a distance of more than 10 kilometres, a volcano-sedimentary sequence located between the Sunday Lake and Lower Detour faults. Last December, Wallbridge announced drill results on Fenelon (Tabasco zone) with values up to 22.73 g/t Au over 48.01 metres (see press release by Wallbridge dated December 3, 2019). More recently, the discovery of the Reaper showing by Balmoral Resources Ltd (“Balmoral”), subsequently acquired by Wallbridge, yielded high gold grades in drill hole reaching 308 g/t Au over 2.97 metres, including 858 g/t Au over 0.60 metre south of Area 51 (see press release by Balmoral dated April 30, 2020).The Jeremie project consists of 42 claims covering a surface area of approximately 22 km2. It is located approximately 15 kilometres northwest of Fenelon. On Jeremie, several VTEM axes, some of which have never been drill-tested, were identified during a VTEM survey conducted in 2015. Several of these axes exhibit NW-SE orientations, similar to the orientation of the Tabasco zone held by Wallbridge but located on the west side of the Jeremie pluton. These VTEM axes will be the focus of localized IP surveys this summer in an effort to better define the next drilling targets.Note: Mineralization occurring on the Fenelon property (Main Gabbro, Tabasco, Area 51, and Reaper zones) held by Wallbridge is not necessarily indicative of mineralization that may be found on the Gaudet and Jeremie properties held by Midland and located nearby.Since 2009, Midland has been one of the most aggressive mineral exploration companies to take a strategic position in the Detour belt and has built an impressive portfolio of seven (7) high-quality gold properties now totalling 1,491 claims (820 km2). These land positions provide the Company with a commanding position on the major Sunday Lake and Lower Detour faults and/or their subsidiaries, over a total combined distance of more than 85 kilometres, along the lateral extensions of the Detour Lake mine* and recent gold discoveries in Zone 58N*, Area 51-Fenelon* and Martiniere-Bug Lake* (*please refer to note at the end of this press release).The health and safety of our workers and contractors comes first, and we are taking the necessary precautions to prevent the spread of COVID-19, by complying with health and safety measures recommended by Public Health officials, and INSPQ and CNESST regulations governing the reopening of mineral exploration activities in Quebec.* Mines and deposits located near Midland projects in the Detour beltDetour Lake mine (Owned by Kirkland Lake Gold – Information from Kirkland Lake Gold website): The Detour Lake open pit mine hosts 12.64 million ounces of gold in proven and probable mineral reserves, consisting in 397.7 million tonnes grading 0.99 g/t Au (as at December 31, 2019).Zone 58N (Owned by Kirkland Lake Gold – Information from Kirkland Lake Gold website): This deposit hosts 2.87 million tonnes in indicated resources at a grade of 5.8 g/t Au (534,300 oz Au) and 0.97 million tonnes in inferred resources at a grade of 4.35 g/t Au (136,100 oz Au).Fenelon (Owned by Wallbridge Mining Company – Information from Wallbridge website): 2018-2019 bulk sampling: 33,233 tonnes at 18.49 g/t Au.Martiniere/Bug Lake (Owned by Wallbridge Mining Company – Information from Wallbridge website): This deposit hosts pit-constrained indicated resources totalling 6,827,000 tonnes at a grade of 1.96 g/t Au (431,000 oz Au) and underground indicated resources totalling 1,092,000 tonnes at a grade of 4.54 g/t Au (159,000 oz Au).Cautionary statements:Mineralization occurring at the mines and deposits listed above is not necessarily indicative of mineralization that may be found on projects held by Midland described in this press release.The true thickness of drill intercepts reported in this press release cannot be determined with the information currently available; intervals are thus reported in core length.About MidlandMidland 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 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: [email protected]
Website: www.midlandexploration.comNeither 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.Photos accompanying this announcement is available at:https://www.globenewswire.com/NewsRoom/AttachmentNg/b6769ed8-0260-48d2-aa32-1ec022c146e3https://www.globenewswire.com/NewsRoom/AttachmentNg/00843cb4-758c-442e-a071-8ee288e93277https://www.globenewswire.com/NewsRoom/AttachmentNg/9926c4f9-dbfe-4614-a1d0-c8a3a590a314https://www.globenewswire.com/NewsRoom/AttachmentNg/fa4ab240-ad68-4be1-99f8-744c9530dfd0https://www.globenewswire.com/NewsRoom/AttachmentNg/4529a365-604f-4eac-9fe5-d62e64e9882ahttps://www.globenewswire.com/NewsRoom/AttachmentNg/31f57d61-5ab2-48fd-b9a6-5a091ec60da0
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