Midland Exploration Inc.
(“Midland”) (TSX-V: MD)
is pleased to announce the results of the drilling campaign
completed in the summer of 2023 in the vicinity of the large
copper-gold-silver-molybdenum (“Cu-Au-Ag-Mo”) discovery made in
2022 on the La Peltrie Option (the “Property”). This significant
mineralized system is located 15 kilometres southeast of Agnico
Eagle’s Zone 58N gold deposit and approximately 25 kilometres west
of the former Selbaie mine, which produced 56.9 Mt grading 0.87%
Cu, 1.85% Zn, 39 g/t Ag, and 0.55 g/t Au (historical production).
The Property is currently subject to an option
agreement and is explored in partnership with Probe Gold Inc.
(“Probe”) since July 2020 (see press release by
Midland dated July 9, 2020).
Highlights:
- Expansion of the mineralized zone
intersected in discovery hole LAP-22-12 with a total interval of
0.20% CuEq* over 513.5 metres;
- Higher-grade intervals within the
mineralized envelope graded up to 1.33% CuEq* over
9.5 metres and 0.56% CuEq* over 13.2 metres;
- Indicates potential for a
highly prospective and extensive mineralized system that
remains open at depth with a possible trend interpreted to
the west of discovery hole LAP-22-12.
This drilling program was completed in September
2023 and consisted of eight (8) drill holes totalling
2,700 metres, including five (5) drill holes totalling 1,713.0
metres in the immediate vicinity of the Cu-Au-Mo-Ag discovery that
graded 0.2% CuEq* over 345.5 metres (see press release by Midland
dated December 6, 2022).
During this program, drill hole LAP-22-12EXT,
totalling 168.0 metres, extended the mineralized zone in the
discovery hole by returning a total interval grading 0.20%
CuEq* over 513.5 metres (core length).
Drill hole LAP-23-18, drilled to the north
approximately 150 metres east of drill hole LAP-22-12, intersected
a wide Cu-Au-Mo-Ag mineralized interval grading 0.15% CuEq*
over 363.0 metres, including a high-grade zone with grades
of 1.33% CuEq*over 9.5 metres.
Drill hole LAP-23-20, drilled to the south
approximately 50 metres east of drill hole LAP-23-18, yielded a
wide interval grading 0.12% CuEq* over 400.2
metres, including an interval grading 0.56%
CuEq*over 13.2 metres.
Hole LAP-23-21, drilled to the south
approximately 250 meters northeast of hole LAP-23-18, returned an
interval grading 0.19% CuEq* over 22 meters, and
another grading 0.15 % CuEq* over 66 meters.
A preliminary interpretation of results received
to date indicates that combined Cu-Au-Mo-Ag grades appear to
increase in drill holes from east to west, thus indicating a
possible enrichment trend to the west of drill hole LAP-22-12
(EXT), in an area that remains completely open in this direction
and at depth.
Midland and Probe are currently preparing an
exploration program in order to resume follow-up drilling on this
new discovery.
The best results are summarized in Table 1.
Assay results for drill holes LAP-23-21, 22, 23, and 24 are
pending.
Table 1 :Best drilling results 2023
Drillholes |
From |
To |
Width. (m) |
Cu % |
Au g/t |
Mo % |
Ag g/t |
CuEq* |
LAP-22-12 |
5.5 |
351.0 |
345.5 |
0.13 |
0.02 |
0.02 |
0.95 |
0.21 |
LAP-22-12EXT |
351.0 |
519.0 |
168 |
0.13 |
0.02 |
0.005 |
0.72 |
0.18 |
Total |
5.5 |
519.0 |
513.5 |
0.13 |
0.02 |
0.01 |
0.87 |
0.2 |
|
|
|
|
|
|
|
|
|
LAP-23-18 |
9.0 |
372.0 |
363.0 |
0.11 |
0.02 |
0.005 |
0.64 |
0.15 |
Including |
175.5 |
185.0 |
9.5 |
1.18 |
0.07 |
0.02 |
5.90 |
1.33 |
|
|
|
|
|
|
|
|
|
LAP-23-19 |
25.2 |
40.4 |
15.2 |
0.17 |
0.01 |
0.01 |
0.75 |
0.25 |
|
88.0 |
105.0 |
17.0 |
0.09 |
0.01 |
0 |
0.48 |
0.10 |
|
|
|
|
|
|
|
|
|
LAP-23-20 |
1.8 |
402.0 |
400.2 |
0.09 |
0.01 |
0.00 |
0.57 |
0.12 |
Including |
46.8 |
60.0 |
13.2 |
0.5 |
0.05 |
0.00 |
2.80 |
0.56 |
|
|
|
|
|
|
|
|
|
LAP-23-21 |
52.5 |
74.5 |
22.0 |
0.16 |
0.02 |
0 |
0.76 |
0.19 |
|
328.0 |
394.0 |
66.0 |
0.12 |
0.02 |
0 |
0.67 |
0.15 |
|
|
|
|
|
|
|
|
|
North and Nord-East La Peltrie |
|
|
|
|
|
|
Drillholes |
From |
To |
Width. (m) |
|
Au g/t |
|
|
|
LAP-23-22 |
No significant
results |
|
|
|
|
|
|
LAP-23-23 |
72 |
73 |
1 |
|
0.11 |
|
|
|
LAP-23-24 |
255.5 |
256.8 |
1.3 |
|
0.10 |
|
|
|
Cautionary statements:
* Copper equivalent (“CuEq”) values were
calculated using the following metal prices: Au $1,500.00/oz,
Cu $3.25/lb, Ag $15.00/oz, Mo $15.00/lb. CuEq values are used for
exploration purposes only and do not include estimations of
metallurgical recovery.
The true thickness of reported intervals cannot
be determined with the information currently available; intervals
are thus reported in core length.
Mineralization occurring at the Zone 58N and the
Selbaie former mine is not necessarily indicative of mineralization
that may be found on the La Peltrie project held by Midland/Probe
described in this press release.
Quality Control
During the last drilling program, assay samples
were taken from the NQ core by sawing the drill core in half, with
one-half sent to a certified commercial laboratory and the other
half retained for future reference. A strict QA/QC program was
applied to all samples; which includes insertion of mineralized
standards and blank samples for each batch of 20 samples. The gold
analyses were completed by fire-assayed with an atomic absorption
finish on 50 grams of materials. The samples were also analyzed
using a geochemical group of 60 multi-elements by 4-acid digestion
followed by ICP-OES (Inductively Coupled Plasma Optical Emission
spectroscopy) finishing.
About Midland
Midland targets the excellent mineral potential
of Quebec to make the discovery of new world-class deposits of gold
and critical metals. Midland is proud to count on reputable
partners such as Probe, BHP Canada Inc., Rio Tinto Exploration
Canada Inc., Barrick Gold Corp., Wallbridge Mining Company Ltd,.,
Agnico Eagle Mines Limited, Electric Element Mining Corp., SOQUEM
Inc., Brunswick Exploration Inc., Nunavik Mineral Exploration Fund,
Cosmos Exploration Limited 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
Midland’s portfolio and generate shareholder value.
Qualified Person and Exploration Director
Richard D St-Cyr prepared this press release and verified the La
Peltrie project data as Midland’s qualified person (QP) within the
meaning of National Instrument 43-101.
For further information, please consult
Midland’s website or contact:
Gino Roger, President and Chief Executive OfficerTel.:
450 420-5977Fax: 450 420-5978Email:
info@midlandexploration.comWebsite: 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.
A table accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/6c10573c-960b-4e6e-b808-9d7a5d8bf5df
Figures accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/1d0d6e61-1d81-4932-a0cc-49dcf6cdffbe
https://www.globenewswire.com/NewsRoom/AttachmentNg/5c44d1a8-81e7-4d96-b418-85333ad0ce1c
https://www.globenewswire.com/NewsRoom/AttachmentNg/c639fe20-f46f-4a1d-b50f-a788833c8d9c
https://www.globenewswire.com/NewsRoom/AttachmentNg/6c5e34c2-dbba-4ecb-882a-57162f72a2f0
https://www.globenewswire.com/NewsRoom/AttachmentNg/df0ec375-2590-4a89-ab2f-55d9cbe28000
https://www.globenewswire.com/NewsRoom/AttachmentNg/f79dfaf8-8e5a-45bc-82e5-3594ff309935
Grafico Azioni Midland Exploration (TSXV:MD)
Storico
Da Nov 2024 a Dic 2024
Grafico Azioni Midland Exploration (TSXV:MD)
Storico
Da Dic 2023 a Dic 2024