Midland Exploration Inc.
TSX VENTURE : MD

Midland Exploration Inc.

January 18, 2017 08:30 ET

Midland Intersects Several New Gold-Bearing Zones on Willbob and Acquires 945 Claims Surrounding the Osisko-Barrick Kan Project in the Labrador Trough

MONTREAL, QUEBEC--(Marketwired - Jan. 18, 2017) - Midland Exploration Inc. ("Midland") (TSX VENTURE:MD) is pleased to report excellent results from its most recent prospecting program and its very first diamond drilling campaign on the Willbob gold project, currently wholly owned by Midland. Midland is also pleased to announce the acquisition of 945 new wholly owned claims in the vicinity of the Willbob property and of the recent earn-in agreement reached between Osisko Mining Inc. ("Osisko") and Barrick Gold Corp. ("Barrick") for the Kan property which is adjacent to the south of the Willbob property. Barrick must commit $15-million in work expenditures over a four-year period to earn a 70-per-cent interest on Kan, subject to certain annual work expenditure thresholds, including a guaranteed expenditure threshold of $6-million in the first two years (see press release by Osisko dated January 10, 2017). The Willbob property consists now of 1,268 mining claims covering a surface area of about 577 square kilometres and is located about 70 kilometres west of the town of Kuujjuaq, in Nunavik.

This 2016 drilling campaign on Willbob was designed to test, at shallow depth, the extensions of the Golden Tooth and Lafrance surface gold occurrences (Gold Sheer zones), where prospecting work carried out in 2015 and 2016 yielded gold values reaching 25.2 g/t Au (Golden Tooth) in grab sample and historical values reaching 21.9 g/t Au (Lafrance) in grab sample. In addition, channel samples and additional grab samples were also collected on the Dessureault showing where, during the 1980s, Noranda reported channel sampling results grading 12.0 g/t Au over 3.3 metres.

Midland has great hopes for this project with strong gold potential and intends to resume its exploration efforts in late spring 2017, with prospecting, mapping, channel sampling, as well as a diamond drilling campaign involving at least 5,000 metres of drilling. Midland is currently evaluating the possibility also to fly an electromagnetic survey in the following weeks.

Drilling highlights

During the helicopter-supported drilling campaign, four (4) shallow drill holes (2 sections of 2 drill holes each) were completed on each of the Lafrance and Golden Tooth showings for a total of eight (8) drill holes totalling 1,299 metres (note that true thicknesses cannot be determined at this time with the information available).

Lafrance showing:

  • 1.62 g/t Au over 1.0 m (WB-16-01 ; 9.30 to 10.30 m)
  • 1.00 g/t Au over 4.6 m incl. 3.3 g/t Au over 1.2 m (WB-16-02; 5.00 to 9.60 m)
  • 0.30 g/t Au over 11.2 m incl. 1,6 g/t Au over 0.95 m (WB-16-03; 9.20 to 20.40 m)
  • 0.17 g/t Au over 1.5 m (WB-16-04; 16.60 to 18.10 m)

Golden Tooth showing:

  • 1.12 g/t Au over 3.65 m incl. 4.98 g/t Au over 0.5 m (WB-16-05; 30.15 to 33.80 m)
  • 1.28 g/t Au over 6.35 m incl. 3.81 g/t Au over 0.95 m (WB-16-06; 45.05 to 51.40 m)
  • 0.74 g/t Au over 2.65 m incl. 1.15 g/t Au over 0.85 m (WB-16-07; 41.60 to 44.25 m)
  • 2.14 g/t Au over 1.5 m (WB-16-08; 70.00 to 71.50 m)

In addition to these gold-bearing intercepts located directly underneath the Lafrance and Golden Tooth surface showings, several new gold-bearing zones were intersected at shallow depth, including these best results:

New zone at Lafrance:

  • 0.31 g/t Au over 24.5 m incl. 2.28 g/t Au over 0.8 m (WB-16-02; 65.00 to 89.50 m)

New zones at Golden Tooth:

  • 0.71 g/t Au over 2.5 m incl. 2.6 g/t Au over 0.45 m (WB-16-05; 122.50 to 125.00 m)
  • 1,88 g/t Au over 0.85 m incl. 1.9 g/t Au sur 0.35 m (WB-16-05 ; 131.85 to 132.70 m)
  • 1.40 g/t Au over 2.1 m incl. 3.0 g/t Au over 0.35 m (WB-16-06; 23.95 to 26.05 m)
  • 1.84 g/t Au over 3.3 m incl. 3.1 g/t Au over 1.7 m (WB-16-06; 30.50 to 33.80 m)
  • 0,35 g/t Au over 1,5 m (WB-16-07 ; 23.50 to 25.00 m)
  • 0.96 g/t Au over 1.4 m (WB-16-07; 64.80 to 66.20 m)
  • 1.62 g/t Au over 1.25 m (WB-16-07; 74.35 to 75.60 m)
  • 1,52 g/t Au over 0.65 m (WB-16-07 ; 163.60 to 164.25 m)
  • 0.94 g/t Au over 3.2 m incl. 2.14 g/t Au over 1.1 m (WB-16-08; 103.80 to 107.00 m)

Prospecting highlights (grab samples)

  • 13.2 g/t Au, 8.9 g/t Au, 4.5 g/t Au, 3.3 g/t Au and 3.0 g/t Au (GTN showing)
  • 13.1 g/t Au, 9.5 g/t Au, 6.9 g/t Au, 2.5 g/t Au (Golden Tooth and GTN showings area)
  • 5.5% Pb and 3.4% Zn; 4.8% Pb and 3.2% Zn; 7.4 g/t Au (Kuni showing area)
  • 1.2% Cu, 2.7 g/t Au and 13.6 g/t Ag (Stars showing)

About 600 metres northwest of the Golden Tooth showing, the Golden Tooth North (GTN) occurrence was discovered during the summer 2016 prospecting campaign, with gold values reaching 12.15 g/t Au. The GTN zone has also been traced over more than 300 metres strike length and yielded values up to 13.2 g/t Au, 13.1 g/t Au, 8.9 g/t Au and 4.5 g/t Au in grab samples. These grab samples were collected in a diorite unit altered to albite-chlorite and hosting quartz-calcite veining with pyrrhotite-arsenopyrite mineralization. A channel completed this fall on GTN-4 which had historically returned gold values up to 5.5 g/t Au, returned 1.91 g/t Au over 2.0 m, including 3.5 g/t Au over 1.0 m which includes 5.8 g/t Au over 0.5 m.

A new gold-bearing sector called Dragon Head and located about 1.5 kilometre north-west of Golden Tooth North returned values of 14.5 g/t Au, 1.4 g/t Au and 1.1 g/t Au.

In the Kuni area, new polymetallic (Pb-Zn-Ag-Au) mineralization was discovered with grades reaching 5.5% Pb and 3.4% Zn; and 4.8% Pb and 3.2% Zn in grab samples. Another grab sample in this area also yielded a gold value reaching 7.4 g/t Au.

Further south, a new showing, dubbed Stars, yielded Cu-Au-Ag values reaching 1.2% Cu, 2.7 g/t Au and 13.6 g/t Ag in grab sample. This new showing shows some gold-bearing massive sulphides characteristics with mineralization consisting in massive pyrrhotite-pyrite with chalcopyrite. A total of 11 grab samples were collected over an outcropping area of approximately 40 metres by 20 metres. (note that values from grab samples may not be representative of the mineralized zones).

Stars Showing
Sample Au Au Grav Ag As Cu Cu
ppm ppm ppm ppm ppm %
S434551 1.365 9.2 4350 >10000 1.295
S434552 2.60 11.2 7740 8830
S434553 3.44 2,68 13.6 8800 >10000 1.215
S434554 1.355 7.4 1395 825
S434555 0.486 4.4 9210 >10000 1.365
S434556 0.097 1.0 2990 2640
S434557 3.60 4,34 13.9 >10000 5700
S434558 0.562 7.1 3490 9410
S434559 0.395 6.3 6770 >10000 1.435
S434561 0.768 5.7 >10000 6600
S434562 0.078 2.3 1525 6840

Grab and channel sampling highlights (Dessureault showing)

  • 6.2 g/t Au over 3.9 metres incl. 8.9 g/t Au over 2 metres (duplicate of historic channel)
  • 31.8 g/t Au, 22.9 g/t Au, 21.6 g/t Au, 11.2 g/t Au, 10.5 g/t Au and 9.9 g/t Au

In an effort to validate a historical channel sample result obtained by Noranda in the 1980s on the Dessureault showing, a channel sample was collected by Midland this fall on the historical channel which had graded 12.0 g/t Au over 3.3 metres. The channel sample (duplicate) collected by Midland graded 6.2 g/t Au over 3.9 metres including 8.9 g/t Au over 2.0 metres (note that true thicknesses cannot be determined at this time with the information available). In addition, several grab samples collected by Midland returned excellent values grading up to 31.8 g/t Au, 22.9 g/t Au, 21.6 g/t Au, 11.2 g/t Au, 10.5 g/t Au, 9.9 g/t Au and 9,5 g/t Au. (Note that gold values from grab samples may not be representative of the mineralized zones).

Maps showing the location of these new showings and drill intersections on the Willbob Project may be consulted using the following link: http://media3.marketwire.com/docs/1083032_midland.pdf

Quality Control

All analysis were 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 the quality control, in each transmission, certified standards and blanks were inserted at regular intervals throughout the sequence of samples. The data was reviewed by Mario Masson, VP Exploration for Midland, certified geologist and Qualified Person as defined by NI 43-101.

About Midland

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 Richard D. St-Cyr, project geologist, certified geologist and Qualified Person as defined by NI 43-101. For further information, please consult Midland's website.

Website: 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.

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