Midland Exploration Inc.
TSX VENTURE : MD

Midland Exploration Inc.

October 22, 2015 08:30 ET

Midland and SOQUEM Intersect Three New Gold-Bearing Zones While Drilling on Casault and Begin a New Drilling Campaign

MONTREAL, QUEBEC--(Marketwired - Oct. 22, 2015) - Midland Exploration Inc. (« Midland ») (TSX VENTURE:MD), in partnership with SOQUEM INC. (« SOQUEM »), is pleased to announce the intersection of three new gold-bearing zones on the Casault project, confirming the potential west of the mineralization intersected in 2012 as well as the beginning of an eight (8) holes drilling program totaling 2,800 metres. These new zones were discovered about 50 metres west of the 2012 discovery in the drill hole CAS-12-07, which had reported 10.4 g/t Au over 1.45 metre. The Casault property covers the Sunday Lake fault over 20 kilometres and is located about 40 kilometres east of the Detour Lake mine that currently contains proven and probable mineral reserves (NI 43-101) of 15.0 million ounces of gold near surface (source: Detour Gold Corporation website).

New gold-bearing intersections west of the 2012 discovery.

Drill hole CAS-15-53 was drilled westward in order to verify the possibility of an auriferous veins system oriented roughly north-south. These veins had not been intersected by previous works because they had been drilled with a northward direction. From 163.80 to 164.00 metres and 169.00 to 169.60 meters, two gold zones interpreted as corresponding with the 2012 discovery in the drill hole CAS-12-07, respectively reported 8.3 g/t Au over 0.20 metre and 6.1 g/t Au over 0.60 metre. In addition to this area, three (3) new zones of gold-bearing quartz veins were intersected slightly to the west and reported:

  • 3.8 g/t Au on 0.60 metre (From 277.90 to 278.50 metres)
  • 5.4 g/t Au on 1.00 metre (From 295.00 to 296.00 metres)
  • 6.9 g/t Au on 1.10 metre (From 395.00 to 336.10 metres)

In addition, several other gold anomalous zones were also identified in drill hole CAS-15-53 and reported:

  • 0.38 g/t Au on 4.50 metres (From 150.00 to 154.50 metres)
  • 0.98 g/t Au on 1.00 metre (From 176.00 to 177.00 metres)
  • 0.58 g/t Au on 1.15 metre (From 209.45 to 209.60 metres)
  • 0.35 g/t Au on 3.05 metres (From 274.85 to 277.90 metres)

These new areas remains unexplored and open in all directions and they identify a new potential for more than 10 kilometres of possible structures oriented north-south near the northern contact of syntectonic Turgeon pluton.

Gold-bearing porphyry sector (QFP)

During the summer drill campaign, a total of fifteen (15) drill holes totaling 5,002.00 metres was completed. Of these, five (5) drill holes, CAS-15-55 to CAS-15-59, were drilled in the gold-bearing porphyry intrusion sector which had been updated in drill hole CAS-15-44 last winter. These five holes, spread over a distance of 2 kilometres, intersected several anomalous gold values associated with porphyry intrusions and altered gabbro in silica, sericite, and hematite locally, confirming the excellent gold potential of this sector which is strategically located in a folded zone in contact between the basin conglomerates 'Timiskaming' type and the mafic volcanics. In addition, new anomalous zones were intersected for the first time in the mafic volcanics north contact of the porphyry intrusion. Among the best anomalous zones above 150 ppb Au on at least half a meter intersected in the area, note that:

Drill hole CAS-15-55 (Drilling survey west to test the north-south possible structure)

  • 0.64 g/t Au on 0.50 metre (From 173.70 to 174.20 metres)

Drill hole CAS-15-56 (Drilling survey chisel with CAS-15-44 survey)

  • 0.29 g/t Au on 5.05 metres (From 90.50 to 95.55 metres)
  • 0.16 g/t Au on 1.50 metre (From 117.00 to 118.50 metres)
  • 0.15 g/t Au on 1.50 metre (From 190.00 to 191.50 metres)

Drill hole CAS-15-57 (Drilling survey northward at 600 metres east of CAS-15-56)

  • 0.22 g/t Au on 1.50 metre (From 35.00 to 36.50 metres)
  • 0.18 g/t Au on 0.50 metre (From 38.33 to 38.83 metres)
  • 0.16 g/t Au on 0.80 metre (From 97.45 to 98.25 metres)
  • 0.19 g/t Au on 0.50 metre (From 122.50 to 123.00 metres)
  • 0.52 g/t Au on 0.50 metre (From 129.10 to 129.60 metres)
  • 0.24 g/t Au on 1.00 metre (From 183.00 to 184.00 metres)
  • 0.18 g/t Au on 1.10 metre (From 204.00 to 205.10 metres)
  • 0.15 g/t Au on 0.60 metre (From 385.90 to 386.50 metres)

Drill hole CAS-15-58 (Drilling survey south at 330 metres west of CAS-13-28A)

  • 0.22 g/t Au on 3.00 metres (From 145.00 to 148.00 metres)
  • 0.20 g/t Au on 0.80 metre (From 152.00 to 152.80 metres)
  • 0.42 g/t Au on 0.50 metre (From 171.00 to 171.50 metres)
  • 0.31 g/t Au on 6.00 metres (From 199.00 to 205.00 metres)

Drill hole CAS-15-59 (Drilling survey north-west at 600 metres south-west of CAS-15-58)

  • 0.20 g/t Au on 2.50 metres (From 192.50 to 195.00 metres)
  • 0.39 g/t Au on 1.50 metre (From 249.50 to 251.00 metres)

The other surveys completed during this campaign to test geological and structural targets and also induced polarization geophysical regional target and TDEM, did not return significant in gold value despite the fact that all targets were explained by the presence of sulfides. Midland and SOQUEM are currently studying the opportunity to add more drill holes in order to follow in the area of drill hole CAS-15-53 as well as in the gold porphyry intrusion sector.

Midland and SOQUEM also announce that a new drill program totaling 2,600 meters was approved to begin in mid-October to test the extensions of new gold vein intersections of drill hole CAS-15-53 and the southern contact of gold-bearing porphyry intrusion altered in magnetite-hematite intersected in drill hole CAS-15-57. During this campaign, induced polarization targets will also be tested.

Maps showing the location of the Casault property and the drilling results may be consulted using the following link: http://media3.marketwire.com/docs/CasaultOct2015.pdf

Quality Control

All analysis were performed by ALS Minerals in Vancouver, B.C. while the samples were prepared in Val-d'Or, Quebec. All samples has been analysed for gold by fire assay with an ICP final over a 30 grams fraction. Certified standards and blanks were inserted regularly among the stream of samples for verification and QA/QC. The data was reviewed by Mario Masson, VP Exploration for Midland, certified geologist and Qualified Person as defined by NI 43-101.

About Midland Exploration

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 SOQUEM INC., Teck Resources Limited, Agnico Eagle Mines Limited, Sphinx Resources Ltd and Japan Oil and Gas and Metals National Corporation. 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.

About SOQUEM and Investissement Québec

SOQUEM is a wholly-owned subsidiary of Ressources Québec, which is a subsidiary of Investissement Québec. Investissement Québec's mission is to promote growth and investment in Quebec, thereby contributing to economic development and job creation in all regions of the province. It offers businesses a full range of financial solutions, including loans, loan guarantees and equity investments to provide support at every stage of their development. It also administers tax measures and oversees prospecting for foreign investment.

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.

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