Midland Announces the Start of a Drilling Campaign on its Lewis Project in Abitibi
February 06 2024 - 6:30AM
Midland Exploration Inc.
(“Midland”) (TSX-V:
MD) is pleased to announce the start of a drilling
campaign on its gold Lewis project, 100% owned by Midland and
located approximately 60 km southwest of the town of Chapais. The
drilling campaign, scheduled to started early in February 2024,
consists of four (4) drill holes for an expected total of 725
metres.
The drilling campaign will focus on new gold
occurrences discovered by prospecting conducted by Midland since
2020, namely the Red Giant (up to 0.35 g/t Au over 9.0 metres in
channel sample) and Golden Nest (up to 10.2 g/t Au in grab sample
and 0.65 g/t Au over 6.0 metres in channel sample) showings.
Induced polarization (“IP”) axes
are also targeted along the eastward projection of the Golden Nest
showing.
The Red Giant showing is associated with an IP
anomaly bordering a magnetic high. The east-west-trending
gold-bearing zone shows increasing grades/thicknesses toward the
west of the area stripped in 2020 and remains completely open in
this direction.
The Golden Nest gold showing is directly
associated with an IP anomaly that coincides with a sharp increase
in resistivity and corresponds to a small outcrop of approximately
10 square metres exhibiting 2 to 10% pyrite mineralization.
The IP anomaly associated with this gold-bearing zone may be traced
over several hundred metres. Trenches were excavated to the west of
the Golden Nest showing in 2022 but failed to locate the same
mineralization. These IP anomalies extend eastward and occur
proximal to a north-northeast-trending structure interpreted from
magnetic data, which may have displaced northward (sinistral
movement) the horizon hosting the Golden Nest showing.
These two showings are spaced one kilometre
apart, are both hosted in sheared mafic volcanic rocks and are
characterized by the presence of numerous quartz-carbonate veins
with local pyrite and arsenopyrite mineralization. Mineralized
zones are associated with strong chlorite and ankerite alteration.
These gold-bearing zones, readily accessible using logging roads,
have never been drill-tested.
The Lewis property consists of 158 claims (87
km2) and covers a strategic position characterized by a regional
flexure proximal to the Guercheville-Opawica deformation zone.
The property is located eight kilometres
northeast of the former Lac Shortt mine (historical production:
400,000 oz – source: MERN-SIGEOM), and approximately 80 kilometres
northwest of the Nelligan project jointly held by IAMGOLD
Corporation (75%) and Vanstar Mining Resources (25%) (indicated
resources: 1.99 million ounces; inferred resources:
3.6 million ounces; in accordance with Regulation 43-101
respecting Information Concerning Mining Projects (“Regulation
43-101”) February 2023 press release, source: IAMGOLD website).
Cautionary statements
Grab samples are selective by nature and
reported values are not necessarily representative of mineralized
zones.
The true thickness of mineralized zones
intersected in channel samples cannot be determined with the
information currently available.
Mineralization occurring at the Nelligan and Lac
Shortt gold deposits is not necessarily indicative of
mineralization that may be found on the Lewis property held by
Midland.
About Midland
Midland targets the excellent mineral potential
of Quebec to make the discovery of new world-class deposits of gold
and critical metals. Midland is proud to count on reputable
partners such as Barrick Gold Corp., BHP Canada Inc., Rio Tinto
Exploration Canada Inc., Probe Gold Inc., Wallbridge Mining Company
Ltd, Agnico Eagle Mines Limited, Electric Element Mining Corp.,
SOQUEM Inc., Brunswick Exploration Inc., Nunavik Mineral
Exploration Fund, Cosmos Exploration Ltd 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 Richard D.
St-Cyr, P.Geo., Exploration Director for Midland, certified
geologist 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 OfficerTel.:
450 420-5977Fax:
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.
Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/1f5e43f4-9171-465e-9144-03b0aa052238https://www.globenewswire.com/NewsRoom/AttachmentNg/416a760c-98ad-453c-bfea-747d30d70fbbhttps://www.globenewswire.com/NewsRoom/AttachmentNg/bcf023f2-1ba5-4390-9ee5-54f07ffb8bc1https://www.globenewswire.com/NewsRoom/AttachmentNg/dcee298f-59f3-4646-aa84-7cfa908b45a1https://www.globenewswire.com/NewsRoom/AttachmentNg/d2341f39-729c-4e36-be1d-f4755d09ad8ahttps://www.globenewswire.com/NewsRoom/AttachmentNg/3d6a8dcc-c854-4a5e-8750-cfaca6d39ce6
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