MONTREAL, QUEBEC--(Marketwired - Dec. 20, 2016) - Midland Exploration Inc. ("Midland") (TSX VENTURE:MD) is pleased to report that the latest prospecting campaign completed in November in three areas has led to the discovery of several new gold-bearing zones on its Heva Project. A recent soil sampling program, completed last August, identified several new exploration targets that were followed up during this prospecting campaign. Prospecting work carried out on targets defined by soil sampling confirmed a correlation between soil anomalies and the discovery of new gold-bearing quartz veins.
This project is wholly owned by Midland and is located near the prolific Cadillac Break, about 5 kilometres northwest of the Canadian Malartic gold mine, jointly held by Agnico Eagle Mines Limited and Yamana Gold Inc., where proven reserves are estimated at 54.89 million tonnes grading 0.97 g/t Au (1.72 Moz Au) and probable reserves at 166.64 million tonnes grading 1.12 g/t Au (6.0 Moz Au), for a total of 7.72 Moz Au. The Heva Project, acquired by Midland in May 2013 from Arianne Phosphate Inc., consists of two claim blocks, Heva West and Heva East, totalling 33 claims and covering a surface area of more than 1,200 hectares.
Prospecting highlights (grab samples)
- 41.0 g/t Au, 9.2 g/t Au (East area)
- 13.9 g/t Au, 8.0 g/t Au (Central area)
- 1.7 g/t Au (West area)
Prospecting was carried out in November in three different areas (West, Central and East). A total of 114 samples were collected on the property. In addition to the results reported above, prospecting samples in the West area also yielded grades of 1.30 g/t Au, 0.70 g/t Au, 0.71 g/t Au as well as eight (8) samples grading between 0.10 and 0.50 g/t Au. In the Central area, additional gold values of 2.12 g/t Au, 0.83 g/t Au, 0.68 g/t Au were reported, as well as ten (10) samples grading between 0.10 and 0.50 g/t Au. In the East area, additional gold values include 3.65 g/t Au, 1.32 g/t Au, 1.21 g/t Au, 1.04 g/t Au, 0.99 g/t Au, 0.77 g/t Au, 0.60 g/t Au, 0.55 g/t Au along with twenty (20) samples grading between 0.10 and 0.50 g/t Au (note that gold values from grab samples may not be representative of the mineralized zones).
Midland will begin a new phase of exploration work very shortly, including line cutting, a ground magnetic survey and an OreVision® IP induced polarization survey.
Figures showing the location of new results on the Heva Project may be consulted using the following link: http://media3.marketwire.com/docs/Heva_December20_2016.pdf
Sample preparation and analysis was performed by ALS Minerals in Val-d'Or. All samples were analyzed for gold by fire assay with an atomic absorption finish (AA23) on a fraction of 30 grams and a gravimetric finish for values greater than 3.0 g/t Au. For quality control purposes, in each sample batch, certified standards and blanks were inserted at regular intervals throughout the sequence of samples. The data were reviewed by Mario Masson, VP Exploration for Midland, certified geologist and Qualified Person as defined by NI 43-101.
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, Osisko Exploration James Bay Inc., SOQUEM Inc., Japan Oil, 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.
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.