Midland Acquires the Lac Esther Gold Property, a New Strategic Position in the Abitibi Region
April 21 2020 - 7:30AM
Midland Exploration Inc.
(“Midland”)
(TSX-V: MD) is pleased to announce the
acquisition, by map designation, of 100% interest in the new Lac
Esther project. This new project with strong gold potential totals
217 claims (120 km2) and is located approximately
30 kilometres north of the town of Lebel-sur-Quevillon, in
Abitibi, Quebec.
This important land position covers a strategic
area straddling the southern contact of the syntectonic
Waswanipi-South Pluton and the junction between two major regional
faults, namely the Casa Berardi and Lamarck regional fault zones.
These fault zones host several historical gold showings and
deposits located near the Lac Esther property.
The property adjacent to the west of Midland’s
Lac Esther property hosts the Lac Rose high-grade gold deposit
(historic mine), which produced in the late 1930s a total of 106.5
kilograms of gold from 4,875 tonnes of material grading 21.5
g/t Au (source: SIGEOM website, Québec MERN). This deposit, where
copper, zinc, and silver mineralization is also reported, is
located immediately to the south of a magnetic horizon that may be
traced approximately 15 kilometres eastward, onto the Lac Esther
property. This magnetic horizon also hosts a historic Cu-Ag
occurrence (Lac Esther NW showing) that yielded grades of 0.1% Cu
and 5.1 g/t Ag over 7.62 metres in drill hole CL-3 (source: SIGEOM
Examine database, Québec MERN; GM12479).
The Lac Esther property has seen very little
exploration in the past and the number of holes drilled along the
extensions of the Lac Rose mine is very low, i.e., approximately
twenty drill holes over a lateral extent of more than 15
kilometres. This property also benefits from excellent access as
provincial highway 113, between Lebel-sur-Quevillon and Chapais,
runs through the centre of the property across its entire
length.
Midland is currently preparing a compilation of
all previous work conducted on this new property, in preparation
for a field work proposal to come later in 2020.
Cautionary statements:
Mineralization at the Lac Rose deposit located on the property
adjacent to the west is not necessarily indicative of
mineralization that may be found on the Lac Esther property held by
Midland.
The true thickness of historic drill intercepts
reported in this press release cannot be determined with the
information currently available; intervals are therefore reported
in core length.
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 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:
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.
Figures accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/ee519b37-29ea-4d5d-8a43-d99a55499362
https://www.globenewswire.com/NewsRoom/AttachmentNg/a11dff2b-0af1-4ae3-bf9c-ba9084123a32
https://www.globenewswire.com/NewsRoom/AttachmentNg/543487e6-6d20-472e-b776-84988ea3e316
https://www.globenewswire.com/NewsRoom/AttachmentNg/a00d97e6-6b8f-4b81-941f-16d141cbeb77
https://www.globenewswire.com/NewsRoom/AttachmentNg/af3a906a-c0fa-42c6-89a7-84490fed5b68
https://www.globenewswire.com/NewsRoom/AttachmentNg/891e2a15-35ca-4529-a5f0-2aa24af517ae
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