Midland Announces New Strategic Acquisition With Ni-Cu-Co-PGE Potential in the Abitibi Region
June 22 2022 - 6:30AM
Midland Exploration Inc.
(“Midland”)
(TSX-V: MD) is pleased to announce the
acquisition, by map designation, of 100% interest in 460 claims
(260 km2) in the Abitibi region, between the towns of Amos and
Matagami. This new strategic acquisition is also located
approximately 60 kilometres west of the Copernick zone discovered
by Midland in 2016 on the Laflamme JV project, which yielded grades
up to 0.45% Ni, 0.33% Cu, 0.15 g/t Pt and 0.24 g/t Pd over 42.60
metres (core length) in drill hole LAF-16-38, from 446.50 to 489.10
metres (see press release by Midland dated April 14, 2016).
This new project, dubbed Nickel Square, extends
over a total surface area of approximately 300 square kilometres
with strong yet underexplored potential for Ni-Cu-Co-PGE. It covers
the Maizerest Intrusions, a series of ultramafic intrusions that
are locally associated with untested historical electromagnetic
(INPUT) conductors. In the north part of the Nickel Square project,
a historical grab sample collected by the “Ministère de l’Énergie
et des Ressources naturelles du Québec” in ultramafic rocks of the
Maizerest with minor sulphide mineralization yielded anomalous
values of 0.20% Ni, 450 ppm Cu, 110 ppm Co, 117 ppb Pd and 68
ppb Pt.
Similar to the Copernick zone discovered by
Midland further east, these ultramafic intrusions are hosted in
dominantly mafic rocks assigned to the Vanier-Dalet-Poirier Group.
These mafic-ultramafic assemblages are located approximately 10
kilometres north of the sedimentary Glandelet Formation, mainly
composed of sandstones and graphitic mudrocks.
Midland is eager to begin exploration on the
property with a prospecting campaign and a high-resolution magnetic
survey planned for this year.
Cautionary statement:
Note that grab and float sample grades may not
be representative of mineralized zones.
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 Canada Inc., Rio Tinto
Exploration Canada Inc., Probe Metals Inc., Wallbridge Mining
Company Ltd, Agnico Eagle Mines Limited, SOQUEM Inc., Osisko
Development Corp., the 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 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: 450 420-5978Email:
info@midlandexploration.comWebsite:
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.
Figures accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/bc0b26d9-7255-49d9-80fa-359353638efd
https://www.globenewswire.com/NewsRoom/AttachmentNg/36ce44c8-68a8-4b1d-a145-3f1a6b59d00a
https://www.globenewswire.com/NewsRoom/AttachmentNg/e316975e-1510-4a10-b4d3-9ba1c5ad6735
https://www.globenewswire.com/NewsRoom/AttachmentNg/28fd82a5-4ee4-40b6-b393-d81805ed5b4f
https://www.globenewswire.com/NewsRoom/AttachmentNg/f473b8c3-887a-43f6-85d5-4e6dd687d619
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