Midland Exploration Inc. (“
Midland”)
(
TSX-V: MD), in partnership with Wallbridge
Mining Company Ltd (“
Wallbridge”), is pleased to
announce the beginning of a new drilling campaign following up on
the new gold discovery made in 2021 in the north part of the
Casault project (“
Casault” or the
“
Property”). This new discovery was made along a
NW-SE-trending structure, approximately 5 kilometres west of the
Martiniere (“
Martiniere”) gold project held by
Wallbridge.
New follow-up drilling program on the 2021
discovery
The drilling program will begin late March 2022
and will consist of three (3) drill holes totalling approximately
1,100 metres, mainly designed to test the continuity and validate
the orientation of the gold zone intersected in discovery hole
CAS-21-123. In the latter, an interval grading
6.85 g/t Au over 2.00 metres, from 254.40 to
256.50 metres, was reported during the summer 2021 drilling
campaign (see press release by Midland dated October 21, 2021).
Additional drill holes are being evaluated in the area for future
drill programs.
During this phase, three (3) drill holes are
planned to follow up on hole CAS-21-123. Two (2) holes will be
drilled in the immediate vicinity of discovery hole CAS-21-123 and
a third hole will be collared approximately 1 kilometre to the
southeast, along the same structure.
- One drill hole totalling 350 metres will be drilled towards the
southwest, scissor-style, along the same section as hole
CAS-21-123, to test the orientation of veins/intrusions that
control gold mineralization.
- One drill hole totalling 400 metres will be drilled towards the
north, to intersect the mineralized zone below hole CAS-21-123 and
test the lithological and structural controls of gold
mineralization in this area.
- The final drill hole, totalling 350 metres, will be collared
approximately 1 kilometre southeast of the discovery hole and will
be drilled towards the northeast, to test the same structure
intersected in hole CAS-21-123. The magnetic high observed in this
area may indicate the presence of a magnetite-bearing pyroxenite
that could have acted as a chemical trap for gold.
New gold discovery in 2021
The first drill hole (CAS-21-123) had
intersected new gold mineralization with a visible gold-bearing
interval returning 6.85 g/t Au over 2.00 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.
Hole CAS-21-123 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 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.
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 Midland press 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.
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.
Quality control
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. Within three years of the discovery of the
Area 51 and Tabasco/Cayenne Zones, through drill programs totaling
over 300,000 metres, Wallbridge reached an important milestone by
announcing a maiden MRE for Fenelon and an updated MRE for the
Martiniere Gold Property totalling 2.67 Moz Au in the indicated
category and 1.72 Moz Au in the inferred category (for details of
the MREs see Wallbridge press release dated November 9, 2021 and
Technical Report filed December 23, 2021 on SEDAR).
Both properties are located on the Company's 910
km2 land package along the Detour-Fenelon Gold Trend in Northern
Abitibi, Québec, with significant potential for further discoveries
over a 97‒kilometre strike length of 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., Rio Tinto Exploration 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/f82b1c27-4a40-41ba-9688-4e7cda746635https://www.globenewswire.com/NewsRoom/AttachmentNg/df6656aa-5c66-4b8f-a4da-d56d52e437a7https://www.globenewswire.com/NewsRoom/AttachmentNg/51477352-91a5-4789-9c95-ebb920d76945https://www.globenewswire.com/NewsRoom/AttachmentNg/c04a1924-1e0e-4b48-bbb1-59e26b224f65https://www.globenewswire.com/NewsRoom/AttachmentNg/fbd297dd-28b4-4b57-850c-27db45fe3ac7https://www.globenewswire.com/NewsRoom/AttachmentNg/70e12439-15b0-4f7e-9fae-ac0b91604b80
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