Midland Identifies New High-Priority Geophysical Target on Samson and Expands Strategic Position East of Wallbridge’s Fenelon Project
MONTREAL, Jan. 28, 2020 - Midland Exploration Inc. (“Midland”) (TSX-V: MD) is pleased to report that the ground-based induced polarization (“IP”) geophysical survey recently completed on the Samson property has led to the identification of a new high-priority target along an interpreted subsidiary located south of the Lower Detour Fault. The Samson property is wholly owned by Midland and is located approximately 15 kilometres southeast of the Fenelon deposit and the recent Area 51 discovery, both held by Wallbridge Mining Company (“Wallbridge”).
In addition, Midland is pleased to announce the acquisition, by map designation, of 102 new claims held 100% by Midland, adjacent to the north of the Fleuribleu property initially acquired in November 2019 and located along the Sunday Lake Fault, approximately 40 kilometres east of the Fenelon deposit and Area 51 discovery.
New high-priority target south of the Lower Detour Fault
Last December, an IP survey was conducted in the east part of the Samson property to investigate a folded magnetic structure interpreted as being located along a subsidiary fault to the south and proximal to the Lower Detour Fault. This folded structure was initially identified during a high-resolution helicopter-borne magnetic survey conducted in the winter of 2016.
The IP survey, totalling approximately 9.5 line kilometres, consisted in four (4) lines trending north-south and 1.5 km long, spaced 400 metres apart, and two (2) additional lines trending east-west and 1.75 km long, spaced 200 metres apart. This survey configuration was set up to test the presence of chargeability anomalies near the nose of the folded magnetic structure.
The results of the IP survey show two subparallel axes with weak chargeability highs, as well as an area some 400 metres in diameter, where chargeability values are markedly higher, located directly in the nose of the folded magnetic structure. These encouraging IP results highlight an area already considered favourable from a structural standpoint as a result of the high-resolution magnetic survey interpretation, which identified this area as a possible drag fold located along a subsidiary structure to the south of the regional Lower Detour Fault.
Midland consolidates its strategic position in the Detour Belt
The 102 new map-designated claims acquired in December consolidate the Fleuribleu property initially acquired in November 2019 (see press release by Midland dated November 27, 2019). The Fleuribleu property now totals 196 claims (109 km2) and covers, over a strike length of more than 15 kilometres, the interpreted eastward extension of the Sunday Lake Fault, approximately 40 kilometres east of the new Wallbridge discovery. Last October, Wallbridge reported drill results from its Fenelon property (Tabasco zone), with grades reaching 27.0 g/t Au over 38.39 metres, 20.89 g/t Au over 8.54 metres, and 17.58 g/t Au over 11.04 metres (see press release by Wallbridge dated October 21, 2019).
Midland also acquired 36 new claims to consolidate the Samson property south of Lac Grasset.
Since 2009, Midland has been one of the most aggressive mineral exploration companies to take a strategic position in the Detour Lake belt and has built an impressive portfolio of seven (7) high-quality gold properties now totalling 1,458 claims (810 km2). These positions now allow control of the major structures of Sunday Lake and Lower Detour, or their subsidiary faults, over a combined total distance of more than 85 kilometers in the lateral extensions of the Detour Lake mine * and recent gold discoveries from Zone 58N*, Area 51-Fenelon* and Martiniere/Bug Lake* (*please refer to note at the end of this press release).
* Mines and deposits located near Midland projects in the Detour belt
Detour Lake mine ( Owned by Detour Gold Corp. – Information from Detour Gold Website ): The Detour Lake open pit mine hosts 13.17 million ounces of gold (“oz Au”) in proven and probable mineral reserves, consisting in 414.9 million tonnes grading 0.99 g/t Au (as at December 31, 2018).
Zone 58N (Owned by Detour Gold – Information from Detour 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 Ltd. – Information from Wallbridge Website): 2018-2019 bulk sampling: 33,233 tonnes at 18.49 g/t Au.
Martiniere/Bug Lake (Owned by Balmoral Resources Ltd. – Information from Balmoral 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 statement:
Mineralization occurring at the mines and deposits listed above is not necessarily representative of mineralization that may be found on projects held by Midland described herein.
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 BHP Billiton Canada Inc., Agnico Eagle Mines Ltd., 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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