MONTREAL, QUEBEC--(Marketwired - March 21, 2017) - Midland Exploration Inc. ("Midland") (TSX VENTURE:MD) is pleased to announce that diamond drilling will resume on the Maritime-Cadillac property, in partnership with Agnico Eagle Mines Limited ("Agnico Eagle"). The Maritime-Cadillac property is contiguous to Agnico Eagle's Lapa gold mine property, where commercial production began in 2009 and where proven and probable mineral reserves currently stand at 0.26 million tonnes grading 4.58 grams per tonne ("g/t") gold, for approximately 38,000 ounces of gold.
New high-quality targets generated by 3D modelling
Over the past few years, a significant amount of compilation work and a three-dimensional geological model (3D model) were generated along a segment of the Cadillac Fault, including the Maritime-Cadillac property. The 3D model has confirmed the NW-SE orientation of the Dyke East gold-bearing structure, which was previously encountered in drill holes with grades of 1.7 g/t Au over 46.4 metres, including 21.1 g/t Au over 1.2 metres (drill hole 141-11-31) and 1.7 g/t Au over 37.85 metres, including 12.6 g/t Au over 1.5 metres (drill hole 141-10-23). The intersection between this major structure and the Maritime Contact, which hosts the Lapa mine deposit located less than 2 kilometres to the northwest, remains untested and is one of the high-priority drilling targets to be tested during this campaign.
During the upcoming drilling campaign, totalling a minimum of 1,500 metres, a number of drill holes have also been planned to validate historical high-grade gold values obtained near surface in the Maritime-Cadillac zone, with values up to 151 g/t Au over 0.8 metre, 140 g/t Au over 0.3 metre, 17.0 g/t Au over 1.1 metres and 16.5 g/t Au over 0.9 metre. The depth extensions of the Maritime-Cadillac zone remain open beyond 250 metres vertical depth.
The Maritime-Cadillac property (JV Agnico Eagle 51% and Midland 49%) is well located in the eastern part of the Cadillac mining camp, south of the Lapa gold mine. The presence of significant lithological contacts (Pontiac-Piché-Cadillac) within the Cadillac-Larder Lake deformation zone provides excellent potential for the development of lode gold or disseminated gold deposits.
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 a Qualified Person as defined by NI 43-101. For further information, please consult Midland's website: www.midlandexploration.com.
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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.