Midland Exploration Inc.
(“Midland”) (TSX-V: MD),
in partnership with Wallbridge Mining Company Ltd
(“Wallbridge”), is pleased to announce the
successful completion of an approximately 5,300-metre exploration
drill program at its Casault Gold Property
(“Casault” or
the “Property”), testing various grassroots exploration
targets 4 to 12 kilometres west of Wallbridge’s Martiniere Gold
Project (
"Martiniere") and 34 to 41 kilometres
west of Wallbridge’s flagship Fenelon Gold Property
(
"Fenelon").
The first drill hole (CAS-21-123), for which
assay results have been received so far, has intersected new gold
mineralization with a visible gold-bearing interval returning
6.85 g/t Au over 2.00 metres from 254.50 to 256.50
metres. This intersection is considered significant, as it is
located in the northern, largely untested part of the Casault
property, where no gold zone has been known so far, approximately 2
kilometres from the nearest anomalous gold intersections both on
the Casault and Martiniere properties.
“This intersection of encouraging gold
mineralization in the first drill hole of our Casault program in an
entirely grassroots area is not only a testament to our growing
understanding of the regional controls on gold deposition in the
Detour-Fenelon area but also to the prospectivity of the over 900
square kilometer land package along this underexplored belt,”
stated Marz Kord, President & CEO of Wallbridge. “We are keenly
awaiting the assay results of other completed holes and are looking
forward to following-up this intersection, working toward a
discovery at Casault, near our existing Martiniere gold
deposit.”
Drill Program Completed
Between July and September 2021, Wallbridge
completed a drill program totaling 13 drill holes, testing a
variety of grassroots exploration targets at Casault. Drilling has
focused on the unexplored northern part of the Property, within 1
to 2 kilometres north of the Sunday Lake Deformation Zone
(“SLDZ”), on the same assemblage of rocks that
also host Wallbridge’s Martiniere gold system, 5 kilometres east of
the closest target tested in the 2021 program, which hosts historic
indicated resources of approximately 591,000 gold ounces with an
updated resource estimate currently underway.
Hole CAS-21-123, the first drill hole of the
program, was testing a prominent NW-SE oriented structure
interpreted from airborne magnetics. This structural orientation is
known to control gold mineralization at Fenelon and Martiniere, and
a series of large structures of this trend also transects the
Casault property. The particular structure tested by CAS-21-123
extends for an approximately 8 kilometres across Wallbridge’s
Martiniere, Casault and Doigt properties and was historically
tested by one drill hole on Martiniere, yielding 30.40 g/t Au over
0.44 metre, which has not been followed-up since.
The intersection of 6.85 g/t Au over
2.00 metres in CAS-21-123 is associated with a mineralized
zone consisting of chalcopyrite, pyrite, pyrrhotite, and electrum,
a gold-silver mineral phase, within deformed and heavily
carbonate-altered host rocks.
The other 12 drill holes of the completed
program have also intersected strong shear and alteration zones
with sulfide mineralization that are interpreted to potentially be
part of gold-bearing systems. Assay results of these drill holes
are currently pending and will be released as they become
available. A technical meeting will be held in the following weeks
to discuss the next follow-up program over this new gold bearing
zone.
Cautionary statements
The true thickness of reported intervals cannot
be determined with the information currently available; intervals
are thus reported in core length.
Mineralization occurring on the Fenelon Gold and
Martiniere/Bug Lake projects held by Wallbridge are not necessarily
indicative of mineralization that may be found on the Casault
property held by Midland.
Casault Gold Property
The Casault property is located approximately
110 kilometres west of the town of Matagami, between Wallbridge’s
Martiniere and Detour East gold properties. Wallbridge has an
option to acquire up to a 65% interest in the 177 km2 project from
Midland Exploration (see Wallbridge News Release dated June 18,
2020). Casault covers more than 20 kilometres of the SLDZ, along
which Wallbridge’s Martiniere and Fenelon gold deposits are located
and which also hosts Kirkland Lake Gold’s world-class Detour Lake
Mine.
The Casault property also hosts the Vortex Zone,
a syenite-associated disseminated gold system with drill hole
intersections grading up to 1.38 g/t Au over 26.5 metres that was
traced over a distance of 1.5 kilometre.
Assay QA/QC
Drill core samples from the 2021 drill program
at Casault were cut and bagged on site and transported to AGAT
Laboratories Ltd. for analysis. Samples are crushed to 75% less
than 2mm. A 250g riffle split is pulverized to 85% passing 75
microns. 50g samples are analyzed by fire assay and AAS. Samples
>10g/t Au are automatically analyzed by fire assay with
gravimetric finish or screen metallic analysis. To test for coarse
free gold and for additional quality assurance and quality control,
Wallbridge requests screen metallic analysis for samples containing
visible gold. These and future assay results may vary from time to
time due to re‒analysis for quality assurance and quality
control.
About Wallbridge
Wallbridge is currently advancing the
exploration and development of its 100%‒owned Fenelon Gold property
located along the Detour‒Fenelon Gold Trend, an emerging gold belt
in northwestern Québec. The Company completed approximately 102,000
metres of drilling in 2020 and is currently conducting a
fully‒funded 2021 program of approximately 150,000-170,000 metres
of drilling and 2,500 metres of underground exploration development
(Phase 1 of a 10,000‒metre program). The Company intends to
complete a maiden mineral resource estimate on the Fenelon Gold
System in October 2021.
Wallbridge now holds several kilometres
surrounding its rapidly expanding Fenelon discovery providing room
for growth, as well as future mine development flexibility.
Wallbridge's land holdings in Québec along the Detour‒Fenelon Gold
Trend total more than 900.0 km2, improving Wallbridge's potential
for further discoveries along a 90‒kilometre strike length in this
underexplored belt.
Wallbridge is also the operator of, and a 17.8%
shareholder in, Lonmin Canada Inc., a privately‒held company with a
portfolio of nickel, copper, and platinum‒group metals (PGM)
projects in Ontario's Sudbury Basin.
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 Wallbridge Mining Company Ltd
BHP Canada Inc., Probe Metals Inc., Agnico Eagle Mines Limited,
Osisko Development 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 the Corporation 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 in conjunction with Wallbridge technical team.
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
athttps://www.globenewswire.com/NewsRoom/AttachmentNg/3212de98-2285-4845-8d61-904cb23d3fc3https://www.globenewswire.com/NewsRoom/AttachmentNg/6c2ca51e-ecf7-4990-8384-7cbf79d17dd6https://www.globenewswire.com/NewsRoom/AttachmentNg/7b1d6adb-5cfb-4689-8c86-c9b4b3a68953
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