MONTREAL, QUEBEC--(Marketwired - Oct. 5, 2016) - Midland Exploration Inc. ("Midland") (TSX VENTURE:MD) is pleased to announce the acquisition, by map designation, of three new properties with strong gold potential totalling 553 claims and covering a surface area of 304 square kilometres, mostly located in the northwestern Abitibi region, near the regional Lower Detour and Casa Berardi fault zones.
With these new acquisitions, combined to an already significant land position in one of the currently most dynamic areas in the Abitibi, Midland now holds a total of thirteen (13) active projects totalling more than 2,000 claims and covering a surface area of approximately 1,120 square kilometres in the vicinity of the regional Casa Berardi, Lower Detour, and Sunday Lake fault zones.
These new strategic land positions were acquired following regional compilation work and cover underexplored and favourable geological assemblages and structures which may potentially host economic gold mineralization. These acquisitions are namely located along the extensions of the Detour Lake and Casa Berardi gold mines, as well as the former Selbaie mine (Zn-Cu-Ag), in addition to many advanced active projects, such as Detour Gold's Lower Detour 58N gold project and Balmoral's Martinière-Bug Lake project, as well as the Grasset Ni-Cu-PGE project also held by Balmoral.
La Peltrie East Project
A total of 39 claims covering a surface area of approximately 22 square kilometres were acquired about 2 kilometres south of the Lower Detour Fault. These claims cover 10 kilometres of prospective yet underexplored geology and structures, wedged between the regional Lower Detour Fault and the synvolcanic Brouillan Pluton. The Lower Detour Fault is known for its excellent gold potential and namely hosts Zone 58N, Detour Gold's latest prospect, where high-grade gold values reaching 35 g/t Au over 23.2 metres were obtained in drill hole (see press release by Detour Gold dated July 28, 2016) and where a 25,000-metre drilling campaign was launched last July.
A large property consisting of several claim blocks totalling 307 claims and covering a surface area of approximately 170 square kilometres was also acquired recently, about 30 kilometres east of the Casa Berardi mine. This property covers the extensions of historical gold occurrences and exhibits favourable geology and structural features similar to other regional structures in the Abitibi that host most of the significant gold deposits in the region.
The new Turgeon Project consists of 207 claims covering a surface area of approximately 112 square kilometres and is located about 40 kilometres southwest of the Casa Berardi mine. This area is characterized by the presence of a felsic to mafic volcanic sequence assigned to the Dieppe 2 Group, which includes several banded oxide-facies iron formation horizons of the Dieppe 3 Group. Significant N-S-trending and NW-SE-trending structures also cross-cut these sequences. In addition, the property is located along the eastward extension of a magnetic signature occurring on the Ontario side of the border, in the south part of the Burntbush property recently acquired by Detour Gold (see press release by Detour Gold dated September 15, 2016).
Midland is planning to launch an airborne geophysical campaign in early 2017, including high-resolution magnetic and electromagnetic surveys to cover all of the new acquisitions.
Figures showing the location of these three new projects, as well as all of Midland's land positions to the west of Matagami, may be consulted using the following link: http://media3.marketwire.com/docs/Midland%20acquisitions%20October%202016.pdf
Midland targets the excellent mineral potential of Quebec to make the discovery of new world-class deposits of gold, platinum group elements, base metals and rare earth elements. Midland is proud to count on reputable partners such as Agnico Eagle Mines Limited, Teck Resources Limited, SOQUEM INC., Osisko Exploration James Bay Inc., Japan Oil and Gas and Metals National Corporation 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 Mario Masson, VP Exploration for Midland, certified geologist and Qualified Person as defined by NI 43-101. For further information, please consult Midland's website.
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.