MONTREAL, Nov. 14, 2024 (GLOBE NEWSWIRE) — Midland Exploration Inc. (“Midland”) (TSX-V: MD) is pleased to announce the results of its first reconnaissance program for gold on its Caniapisc Au project in the Eeyou Istchee James Bay and Caniapisc Au regions. The Caniapisc Au project is wholly owned by Midland and consists of 94 claims covering an area of 47 square kilometres.
Highlights:
- Resampling of three (3) historical till samples with up to 41 pristine and 66 modified gold grains; and two (2) additional follow-up till samples up-ice;
- Fifteen (15) samples with anomalous gold, ranging from 0.10 to 0.75 g/t Au, located near historical gold-bearing tills;
- Historical gold anomalies remain unexplained in till samples with up to 41 pristine and 66 modified gold grains.
A three (3)-day geological reconnaissance campaign was conducted this past summer on the Caniapisc Au project. The main objectives of the reconnaissance campaign were to validate the three (3) historical till gold anomalies on the project and complete a first geological assessment of its gold potential. A survey comprising five (5) till samples (10 kilograms each) was completed on the project, including three (3) samples collected on historical tills as well as two (2) additional samples up-ice from the latter. Results for these till samples are pending.
Within a radius of a few hundred metres up-ice from the historical anomalous tills, prospecting work successfully identified boulder fields (with angular boulders locally) and outcrops. Out of a total of 55 grab samples collected during this campaign, 47 are proximal to the historical gold anomalous tills. Of these 47 samples, fifteen (15) yielded anomalous gold values ranging from 0.10 to 0.75 g/t Au, from a total of 31 samples with gold values above 0.02 g/t Au. The remaining samples, seven (7) of which yielded results between 0.20 and 0.60 g/t Au, are located 1 to 2 kilometres further north. Mineralized host rocks are mainly sedimentary in origin, followed by mafic volcanic rocks and intrusives (with possible porphyritic textures locally). The mineralization mainly consists of pyrite associated with pervasive silica alteration.
An exploration program to be conducted in the following months on the Caniapisc Au project is currently in preparation.
About the Caniapisc Au project
The Caniapisc Au project lies south of the Caniapiscau Reservoir and is geologically located within the Ashuanipi Subprovince, a lesser known and explored portion of the Archean Superior Province. The project is more specifically located in the Raynouard Complex, characterized by a 50 kilometre-long volcanosedimentary belt comprising bimodal volcanic sequences, metasedimentary rocks and iron formations. Historical exploration work, to the south of the Caniapisc Au project, highlights the potential of the Raynouard Complex with the presence of volcanogenic Cu-Zn-Ag-Au and porphyry Cu-Au-Ag-Mo mineralization. The Caniapisc Au project is strategically located north of these showings, where a historical 2014 till sampling survey identified gold anomalies. Three (3) till samples, located within the perimeter of the project, returned up to 41 pristine, 66 modified, and 9 remodeled gold grains, which to our current knowledge have not been followed up extensively.
Quality control
Rock samples from the project were analyzed at Actlabs laboratories in Ancaster, Ontario, by ICP-MS with 4-acid digestion for metals, and by standard fire assay on 30-gram fractions with atomic absorption finish for gold. Exploration programs are designed, and results are interpreted by Qualified Persons employing a Quality Assurance/Quality Control program consistent with industry best practices, including the alternate use of standards and blanks for every 20 samples.
Cautionary statements
Grab samples are selective by nature and may not be representative of mineralized zones.
Mineralization occurring at deposits and showings mentioned in this press release is not necessarily indicative of mineralization that may be found on projects held by Midland and mentioned in this press release.
About Midland
Midland targets the excellent mineral potential of Quebec to make the discovery of new world-class deposits of gold and critical metals. Midland is proud to count on reputable partners such as Rio Tinto Exploration Canada Inc., BHP Canada Inc., Barrick Gold Corp., Wallbridge Mining Company Ltd, Probe Gold Inc., Agnico Eagle Mines Limited, Electric Elements Mining Corp., 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 Midland’s portfolio and generate shareholder value.
Qualified Person and Chief Geologist Jean-François Larivière, P.Geo., PhD, prepared this press release and verified the project data as Midland’s qualified person (QP) within the meaning of National Instrument 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
Email: info@midlandexploration.com
Website: https://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.
Photos accompanying this announcement are available at:
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https://www.globenewswire.com/NewsRoom/AttachmentNg/4994e3df-3450-4bea-b326-870c4d189ae5
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