Midland Expands Its Land Position for Gold in James Bay With the New Caniapisc Au Project
MONTREAL, April 09, 2024 - Midland Exploration Inc. ("Midland") (TSX-V: MD), is pleased to announce the expansion of its gold project portfolio with the recent acquisition, by map designation, of the Caniapisc Au project in the Eeyou Istchee James Bay and Caniapiscau regions. The Caniapisc Au project is wholly owned by Midland and consists of 94 claims covering an area of 47 square kilometres.
Highlights:
- Recent acquisition by map designation of the Caniapisc Au project;
- Historical unexplained gold anomalies in till samples with up to 41 pristine and 66 modified gold grains;
- Reconnaissance exploration program planned for summer 2024.
The Caniapisc Au project is positioned south of the Caniapiscau Reservoir and geologically located within the Ashuanipi subprovince, a less 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, metasediments and iron formations. In the Superior Province, bimodal (basalts and rhyolites) volcanic sequences and iron formations are respectively recognized in general for their potential in base metals (Cu-Zn-Ag-Au) and gold. Moreover, the Raynouard Complex is less metamorphosed and thus better preserved than other areas of the Ashuanipi subprovince, which is favourable for mineral exploration (better preservation of potential deposits).
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 porphyric Cu-Au-Ag-Mo mineralizations. Historical showings to the south include: Eagle Showing with selected grab samples returning up to 0.76% Cu, 8.94% Zn, 14.3 g/t Ag, 0.73 g/t Au, and up to 3.78 g/t Au over 1.0 metres in channel sampling; Peacock Showing returned 1.7 g/t Au over 7.0 metres in channel sampling; and the Falcon Showing with selected grab samples returning up to 8.6% Cu, 3.8 g/t Au. 49.6 g/t Ag, 1.3% Mo, and up to 3.0% Cu, 4.4 g/t Au, 20.1 g/t Ag over 1.0 metres in drilling sampling.
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 on 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. The concentration of pristine and modified gold grains combined with the observation that most of the pebbles present these tills are mostly of volcanic and sedimentary origin could indicate a proximal source up-ice. These till gold counts are considered to be highly anomalous. For example, the anomaly threshold for gold grains in tills from the gold-rich Timmins area in the Abitibi is only 5 grains (McClenaghan, 2001). This statistic is derived from samples processed using the same method and laboratory as the ones reported here.
A reconnaissance prospecting and till sampling program is currently planned for the upcoming summer exploration season to identify the gold source related to these till anomalies.
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 intersected 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 RTEC, BHP Canada Inc., Barrick Gold Corp., Wallbridge Mining Company Ltd., Probe Gold Inc., Agnico Eagle Mines Limited, Electric Element Mining Corp., SOQUEM Inc., Brunswick Exploration Inc., Nunavik Mineral Exploration Fund, Cosmos Exploration Limited 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, Ph. D, 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
https://www.globenewswire.com/NewsRoom/AttachmentNg/8e195c2d-452a-4073-96f2-b8aee69c8c8e
https://www.globenewswire.com/NewsRoom/AttachmentNg/55cdeee9-7a20-408d-9a0e-2479e956ff0b
