MONTREAL, QUEBEC--(Marketwired - March 1, 2017) - Midland Exploration Inc. ("Midland") (TSX VENTURE:MD) is pleased to announce the resumption of drilling on the Casault gold project in partnership with SOQUEM INC. ("SOQUEM"), with a diamond drilling program totalling ten (10) drill holes for a minimum of 2,000 metres of drilling. The Casault property consists of 315 claims (173 square kilometres) that cover the Sunday Lake Fault over more than 20 kilometres strike length, about 40 kilometres east of the Detour Lake mine. This mine hosts mineral reserves estimated at 14.38 million ounces of gold ("Moz Au") consisting in proven reserves of 89.2 million tonnes at a grade of 1.26 g/t Au for 3.60 Moz Au and probable reserves of 351.6 million tonnes at a grade of 0.95 g/t Au for 10.78 Moz Au.
This new exploration program on the Casault project will initially include a new OreVision®-type induced polarization survey totalling approximately 30 kilometres, to be conducted southeast of the Bug Lake zone held by Balmoral Resources Ltd ("Balmoral"). Balmoral recently announced the start of a new drilling program totalling 25,000 metres on the Bug Lake zone, where high-grade gold was recently intersected in drill holes, with values reaching 6.25 g/t Au over 11.66 metres, including 12.48 g/t Au over 5.47 metres, along the extensions of the Bug Southeast gold zone (see press releases by Balmoral dated February 2 and 9, 2017). This new drill intersection is located just 1 kilometre northwest of the central part of the Casault project.
On Casault, several additional high-priority drilling targets, mainly consisting in high-chargeability anomalies identified during the 2013 induced polarization survey, will be tested in a prospective area located near the west junction between a Timiskaming-type conglomerate basin and the regional Sunday Lake Fault, which hosts the Detour Lake gold deposit.
Figures showing the location of the Casault property as well as new areas to be drill-tested may be consulted using the following link: http://media3.marketwire.com/docs/Casault%20February%202017.pdf
SOQUEM, a subsidiary of Investissement Québec, is a leading player in mineral exploration in Québec. Its mission is to explore, discover and develop mining properties in Québec. SOQUEM has participated in more than 350 exploration projects and contributed to major discoveries of gold, diamonds, lithium and other minerals.
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 Mining Inc., Altius Minerals Corp., 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: www.explorationmidland.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.