Midland Discovers High-Grade Gold-Bearing Boulders on Its Laflamme JV Project
June 13 2022 - 6:30AM
Midland Exploration Inc. (“Midland”) (TSX-V: MD)
is pleased to report the discovery of high-grade gold-bearing
boulders as well as new auriferous shear zones during a recent
prospecting program on its Laflamme JV project.
The Laflamme project is located approximately
25 kilometres northwest of the town of Lebel-sur-Quévillon in
Abitibi, Quebec, and currently consists of 436 claims covering a
total surface area of about 234 square kilometres. This project is
a joint venture between Midland (77.9%) and Abcourt Mines Inc.
(“Abcourt”) (22.1%).
High-grade gold-bearing boulders
discovered by prospecting
During a prospecting program conducted in late
May 2022, a metre-scale angular erratic boulder was discovered
approximately 700 metres southeast of the historical Notting Hill
gold showing. This boulder graded 28.7 g/t Au and
is characterized by an intense stockwork of quartz-ankerite veins
containing up to 15% pyrite mineralization. Another sample
collected from a similar boulder located 1 metre apart yielded
a grade of 6.0 g/t Au in a country rock completely
altered to ankerite and containing 5% pyrite mineralization, which
represents the stockwork host rock.
Given the angular shape of this boulder and
known glacial flow directions in this part of the Abitibi, the
potential source of these erratic boulders is interpreted as being
at a short distance to the NNE. The target area has never been
drill-tested and corresponds to a magnetic low that remains
untested over a distance of more than 1.5 kilometres.
New gold-bearing shear structures
identified near the discovery boulders
Prospecting also yielded several anomalous gold
values on outcrops with grades between 0.1 and 1.0 g/t Au, in
grab samples associated with new shear zones with strong carbonate
alteration, supporting the gold potential in the vicinity of the
discovery boulder.
This new favourable area is located
approximately 700 metres southeast of the Notting Hill gold showing
discovered in 2013 by Midland, which graded 0.34 g/t Au over 25.56
metres from 144.00 to 169.56 metres in hole LAF-13-21. In addition,
this new discovery is located approximately 12 kilometres northwest
of the Osborne-Bell deposit where Osisko Mining Inc. reported new
drill intersections grading up to 37.0 g/t Au over 5.4 metres (see
press release by Osisko dated September 28, 2018).
During the coming field season, Midland is
planning to conduct a soil sampling program, an induced
polarization survey, as well as mechanical stripping to help locate
the source of the gold-bearing boulders.
Cautionary statements:
Note that grab and float sample grades may not
be representative of mineralized zones.
Mineralization occurring at the Osborne-Bell
deposit is not necessarily indicative of mineralization that may be
identified on the Laflamme property.
True thicknesses cannot be determined with the
information currently available; intervals are thus reported in
core length.
Quality Control
Rock samples on the project are assayed for gold
by standard 50-gram fire-assaying with atomic absorption finish
(Au-AA24) or gravimetric finish (Au-GRA22) at ALS Laboratories in
Val-d’Or, Quebec. Exploration programs are designed and results are
interpreted by qualified persons employing a Quality
Assurance/Quality Control program consistent with industry best
practices, including the use of standards and blanks with every 20
samples.
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 Abcourt, BHP Canada Inc., Rio
Tinto Exploration Canada Inc., Probe Metals Inc., Wallbridge Mining
Company Ltd, Agnico Eagle Mines Limited, SOQUEM Inc., Osisko
Development Corp., and the Nunavik Mineral Exploration Fund.
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 reviewed and approved by
Mario Masson, P.Geo., VP Exploration for Midland and Qualified
Person as defined by NI 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
athttps://www.globenewswire.com/NewsRoom/AttachmentNg/aea0a58f-c3a5-4851-b169-d81a29be379ehttps://www.globenewswire.com/NewsRoom/AttachmentNg/d8719246-6ea7-4fcf-b1ff-052f11748d0ehttps://www.globenewswire.com/NewsRoom/AttachmentNg/6a4722f6-9cbd-4ca9-af05-94bf599a8591https://www.globenewswire.com/NewsRoom/AttachmentNg/f1989b25-f8aa-4e75-bab1-62a8ab8ee42ahttps://www.globenewswire.com/NewsRoom/AttachmentNg/d235b0f0-b168-4163-8dfe-620f36d93972https://www.globenewswire.com/NewsRoom/AttachmentNg/3fafef67-cf4e-4a9b-9c71-4a0e0c8c1611
Midland Exploration (TSXV:MD)
Historical Stock Chart
From Mar 2024 to Apr 2024
Midland Exploration (TSXV:MD)
Historical Stock Chart
From Apr 2023 to Apr 2024