MONTREAL, Nov. 06, 2018 (GLOBE NEWSWIRE) -- Midland Exploration inc. (“Midland“) (TSX-V : MD) is pleased to announce new results from the October 2018 prospection campaign on its wholly owned (100% Midland) Mythril project in James Bay, Quebec. The copper-gold-molybdenum-silver mineralized system is now identified over 2 kilometers strike length on surface (E-W), up from 0.7 kilometers in September, and is still open in both directions. The mineralized system is interpreted based on surface Cu-Au-Mo-Ag showings. The full dimensions of the mineralization are not known yet.
Highlights
- Discovery of several new Cu-Au-Mo-Ag showings and one new Mo-only showing (3.04% Mo), extending the mineralized system from 0.7 kilometers to more than 2 kilometers strike length, open east and west.
- Average values over 45 mineralized (>0.1 % Cu) grab samples from these new showings are: 2.04 % Cu, 0.36 g/t Au, 0.11 % Mo, 17.6 g/t Ag (2.85 % Cu Eq*). Maximum values of : 12.65 % Cu ; 1.7 % Mo ; 1.51 g/t Au ; 69.8 g/t Ag.
- Fifty-six (56) new Cu-Au-Mo-Ag mineralized floats (>0.1 % Cu) discovered in the eastern and western extensions of the system. Average values of 1.33 % Cu, 0.52 g/t Au, 0.09 % Mo, 13.3 g/t Ag (2.12 % Cu Eq*) over 56 floats (grab samples). Maximum values of : 16.95 % Cu; 4.91 g/t Au; 0.44 % Mo; 49.4 g/t Ag. Most of the floats are angular and are interpreted to be locally derived (<100m transport distance).
- Midland significantly increased its land position around the discovery and plans to start geophysical surveys in the coming weeks.
The following tables summarize the results of new showings and major new float fields found in October on the mineralized system.
| Table 1: Summary of major new Cu-Au-Mo-Ag showings found in October 2018 | ||||||||||
| Showing | N Samples | Average Values (grab samples) | Max Values (grab samples) | |||||||
| Cu (%) | Au (g/t) | Mo (%) | Ag (g/t) | Cu Eq (%)* | Cu (%) | Au (g/t) | Mo (%) | Ag (g/t) | ||
| Eriador | 19 | 2.47 | 0.29 | 0.13 | 22.1 | 3.35 | 12.6 | 1.02 | 1.7 | 69.2 |
| G Havens | 2 | 5.26 | 0.85 | 0.01 | 40.4 | 6.12 | 9.22 | 1.00 | 0.01 | 69.8 |
| Liv | 5 | 3.25 | 0.61 | 0.12 | 29 | 4.34 | 9.53 | 1.51 | 0.24 | 55.6 |
| Misty | 6 | 1.53 | 0.31 | 0.02 | 14 | 1.91 | 2.92 | 0.84 | 0.12 | 28.7 |
| Luthien | 1 | 1.32 | 0.45 | 0.1 | 12.9 | 2.11 | - | - | - | - |
| Haldir | 10 | 0.93 | 0.38 | 0.15 | 5.2 | 1.83 | 2.75 | 1.31 | 1.15 | 15.5 |
| Forgotten | 1 | 0.85 | 0.07 | 0.01 | 6.1 | 0.98 | - | - | - | - |
| Lindir | 1 | 0.20 | 0.18 | 0.02 | 2.5 | 0.41 | - | - | - | - |
| Lorien | 1 | 0.02 | ns | 3.04 | 1.1 | 12.72 | - | - | - | - |
| Table 2: Summary of new floats found in October 2018 | ||||||||||
| Float Field | N floats | Average Values (grab samples) | Max Values (grab samples) | |||||||
| Cu (%) | Au (g/t) | Mo (%) | Ag (g/t) | Cu Eq (%)* | Cu (%) | Au (g/t) | Mo (%) | Ag (g/t) | ||
| Eriador Floats | 7 | 3.33 | 0.55 | 0.003 | 18 | 3.81 | 16.95 | 3.09 | 0.02 | 43.8 |
| Grey Havens Flts | 3 | 2.87 | 0.22 | 0.02 | 32.8 | 3.32 | 4.15 | 0.67 | 0.04 | 49.4 |
| Arwen Floats | 3 | 1.1 | 2.2 | 0.03 | 17.8 | 2.71 | 2.47 | 4.9 | 0.05 | 30.1 |
| Luthien Floats | 11 | 1.48 | 0.67 | 0.06 | 17.2 | 2.27 | 4.95 | 2.14 | 0.27 | 44.4 |
| Haldir Floats | 19 | 0.67 | 0.44 | 0.18 | 8 | 1.75 | 1.92 | 1.03 | 0.44 | 23.8 |
| Lindir Floats | 6 | 0.29 | 0.20 | 0.08 | 3 | 0.77 | 0.5 | 0.35 | 0.17 | 5.3 |
*Metal prices used for Cu Eq calculation: Au $1200/oz, Cu $2.83/lb, Ag $14/oz, Mo $11.8/lb.
* ns = No significant value
Note that grab samples are selective by nature and values reported are not representative of mineralized zones.
The Mythril project is located about 7 kilometers south of the Trans-Taïga road, James Bay Eeyou Istchee, Quebec. In only 4 days of prospection between June to September 2018, four (4) new high-grade Cu-Au-Mo-Ag surface showings were found that yielded values such as 2.74% Cu, 0.44 g/t Au, 0.06% Mo, and 24.3 g/t Ag over 2.7 meters from channels (Celeborn showing). Furthermore, fifty-four (54) new high-grade mineralized floats were also found. The average grades of the 54 floats was 2.61 % Cu, 1.25 g/t Au, 0.13 % Mo, 28.7 g/t Ag (grab samples).
Descriptions of new showings and float fields in October 2018
The new “Luthien” showing was discovered about 300 meters west of the Legolas showing, the westernmost significant showing previously known. The Luthien showing is a magnetite-chalcopyrite mineralized layer at least 0.5 metre thick at the bottom of a biotite gneiss outcrop. It yielded 1.32 % Cu, 0.45 g/t Au, 0.1 % Mo and 12.9 g/t Ag from a grab sample. Eleven (11) mineralized floats were also found near the showing. Grab samples from the floats yielded an average of 1.48 % Cu, 0.67 g/t Au, 0.06 % Mo and 17.2 g/t Ag, with maximum values of: 4.95 % Cu; 2.14 g/t Au; 0.27 % Mo; 44.4 g/t Ag. About 200 meters west of the Luthien showing, a 10 centimeters thick quartz-molybdenite vein containing abundant molybdenite also yielded 3.04 % Mo a grab sample.
The new “Eriador” showing was discovered about 550 meters west of Luthien. Four distinct mineralized layers containing massive chalcopyrite stringers as well as disseminated chalcopyrite and magnetite were found. The mineralized layers vary in thickness from about 0.5 to 1.5 meters and are hosted by biotite gneisses. Nineteen (19) grab samples from these mineralized layers yielded an average of 2.47 % Cu, 0.29 g/t Au, 0.13 % Mo and 22.1 g/t Ag, with maximum values of: 12.65 % Cu; 1.02 g/t Au; 1.7 % Mo; 69.2 g/t Ag. About 25 meters west of Eriador, seven (7) angular, subcropping floats were sampled, and yielded an average of 3.33 % Cu, 0.55 g/t Au, 0.003 % Mo and 18 g/t Ag from grab samples, with maximum values of: 16.95 % Cu; 3.09 g/t Au; 0.02 % Mo; 43.8 g/t Ag.
The “Misty” showing is located 60 meters northwest of Eriador and consists of an outcrop with four distinct mineralized layers that are each about 10 to 20 centimeters thick. These layers returned an average of 1.53 % Cu, 0.31 g/t Au, 0.02 % Mo and 14 g/t Ag from six (6) grab samples, with maximum values of: 2.92 % Cu; 0.84 g/t Au; 0.12 % Mo; 28.7 g/t Ag.
The new “Liv” showing was discovered 300 meters further west of Eriador. On the outcrop, several mineralized layers from 20 to 50 cm thick are composed of stringers of massive chalcopyrite with disseminated magnetite in a biotite gneiss. Quartz veins with large clusters of massive chalcopyrite are also observed. Mineralized layers from the outcrop yielded an average of 3.25 % Cu, 0.61 g/t Au, 0.12 % Mo and 29 g/t Ag from five (5) grab samples, with maximum values of: 9.53 % Cu; 1.51 g/t Au; 0.24 % Mo; 55.6 g/t Ag.
The new “Grey Havens” showing was found 400 meters west of Eriador. It is the westernmost showing found until now and is located 2 kilometers west of the Haldir showing. It consists in a quartz vein about 10 centimeters thick with massive chalcopyrite clusters, with massive chalcopyrite over several centimeters along the vein selvage, grading into more disseminated chalcopyrite in the host gneiss. The vein cuts the foliation. A grab sample from the vein and its selvage returned 9.22 % Cu, 0.69 g/t Au and 69.8 g/t Ag. Massive magnetite-chalcopyrite zones several centimeters thick are also injected along the foliation of the gneiss, and yielded 1.3% Cu, 1.00 g/t Au, 0.02 % Mo and 11 g/t Ag from a grab sample. Three floats strongly mineralized in chalcopyrite±magnetite (Grey Havens floats) were also found up to 250 meters west of the Grey Havens showing. They yielded an average of 2.87 % Cu, 0.22 g/t Au, 0.02 % Mo and 32.8 g/t Ag from grab samples, and up to 4.15 % Cu.
The Forgotten showing is located 150 meters southwest of Eriador. It is a felsic gneiss that contains massive pyrite±chalcopyrite stringers. A sample from the outcrop yielded 0.85% Cu and 0.01% Mo, while a subcropping boulder yielded 1.05% Cu and 0.07% Mo.
The new Haldir showing was found approximately 50 meters north-east of the known Arwen float field (found in September 2018), in the eastern extension of the mineralized system. Several paragneiss outcrops spread over 30 meters strike length yielded an average of 0.93 % Cu, 0.38 g/t Au, 0.15 % Mo and 5.2 g/t Ag from ten (10) grab samples, with maximum values of: 2.75 % Cu; 1.31 g/t Au; 1.15 % Mo; 15.5 g/t Ag. The mineralized zone on outcrop was observed to be a minimum of 2 meters large. Mineralization at Haldir occurs as chalcopyrite stringers in paragneisses that exhibit strong potassic alteration (muscovite-biotite). In addition, nineteen (19) angular and locally sourced mineralized floats were also found immediately around the showing. These 19 floats yielded an average of 0.67 % Cu, 0.44 g/t Au, 0.18 % Mo and 8 g/t Ag, with maximum values of: 1.92 % Cu; 1.03 g/t Au; 0.44 % Mo; 23.8 g/t Ag. In addition to paragneisses, mineralization in the Haldir floats also occur as chalcopyrite-molybdenite disseminations and stringers in felsic intrusives, that are not observed in outcrops, hinting at the presence of additional mineralization under cover.
Three (3) new floats were discovered in the Arwen float field, that yielded up to 16.8 g/t Au in September. These new floats yielded an average of 1.1 % Cu, 2.2 g/t Au, 0.03 % Mo and 17.8 g/t Ag, with maximum values of: 2.47 % Cu; 4.9 g/t Au; 0.05 % Mo; 30.1 g/t Ag.
Starting about 25 meters east of Haldir, abundant and centimetric molybdenite flakes were found in a foliated felsic intrusive outcrop of a minimum of 50 meters long x 3m large (new “Council” showing). This showing will be further evaluated by tight channel sampling. A band about 20cm large mineralized in chalcopyrite was also found in a part of the same outcrop, and yielded 0.2 % Cu, 0.18 g/t Au, 0.02 % Mo and 2.5 g/t Ag from a grab sample (“Lindir” showing). In addition, five (5) new floats of felsic intrusives mineralized in chalcopyrite-molybdenite were found close to the outcrop, and yielded an average of 0.29 % Cu, 0.2 g/t Au, 0.08 % Mo and 3 g/t Ag from grab samples.
A new mineralized paragneiss float with disseminated chalcopyrite and strong potassic alteration was found about 600 meters east of the Lindir showing. It yielded 0.17 % Cu, 0.05 g/t Au, and 4.7 g/t Ag from a grab sample. It has a lower grade but is otherwise very similar to others paragneiss-hosted Cu-Au-Mo-Ag showings and floats further west. This boulder is in an “up-ice” position from the known showings; consequently, it most likely originates from yet undiscovered Cu-Au-Mo-Ag mineralization located at least 600 meters east of the Lindir showing, the easternmost showing known to date.
Extensive soil geochem survey
An extensive B-horizon geochem soil survey was also performed to cover the known mineralized system and its possible extensions to the east and west. The survey is about 3.8 kilometers long, with lines at every 100 meters and samples at every 15 meters along lines. Results will be available in the coming weeks.
New extensive land position and coming work
Midland is very pleased by the new results obtained in only four days of prospection in October, before the onset of winter conditions in the area. The Cu-Au-Mo-Ag mineralized system has now been extended to about 2 kilometers strike length based on surface Cu-Au-Mo-Ag showings, up from 0.7 kilometers in September, and remains open to the east and west.
Following this very significant discovery, Midland is in the process of acquiring claims in other areas deemed favorable based on observations made on the known showings, publicly available data as well as reconnaissance work performed by Midland this summer. An airborne high-resolution magnetic and electromagnetic survey as well as a ground induced polarization survey are also planned for the coming weeks in the discovery area.
Quality Control
Exploration program design and interpretation of results is performed by qualified persons employing a Quality Assurance/Quality Control program consistent with industry best practices, including the use of standards and blanks with every 20 samples. Rock samples on the project are assayed for gold by standard 30-gram fire-assaying with inductively coupled plasma atomic emission spectroscopy (ICP-AES; Au-ICP21) or gravimetric finish (Au-GRA21) at ALS Minerals laboratories in Vancouver, British Columbia. All samples are also analysed for multi-elements, using four-acid ICP–AES method (ME-ICP61), also at ALS Minerals laboratories in Vancouver, British Columbia. Samples that exceed 1% copper, zinc, molybdenum or nickel are reanalyzed by four-acid ICP-AES optimized for high grades.
The technical or scientific information in this press release has been prepared by Sylvain Trepanier, P.Geo., VP Exploration for James Bay and Northern Quebec at Midland, a “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 and base metals. Midland is proud to count on reputable partners such as Agnico Eagle Mines Limited, IAMGOLD Corporation, Osisko Mining Inc., Altius Minerals Corp., SOQUEM INC., NioBay Metals Inc., Nuvavik Mineral Exploration Fund, 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.
For further information, please consult Midland’s website or contact:
Gino Roger, President and Chief Executive Officer
Tel.: 450 420-5977
Fax: 450 420-5978
Email: info@midlandexploration.com
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.
14 figures accompanying this announcement are available at:
http://www.globenewswire.com/NewsRoom/AttachmentNg/bc7b340a-1c4b-4526-bfae-d7805047f0fa
http://www.globenewswire.com/NewsRoom/AttachmentNg/847461af-921d-4496-9100-e8ec85766464
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