Midland Expands Its Land Position for Gold in James Bay With the New Caniapisc Au Project
09 Aprile 2024 - 1:30PM
Midland Exploration Inc. (
“Midland”)
(
TSX-V: MD), is pleased to announce the expansion
of its gold project portfolio with the recent acquisition, by map
designation, of the Caniapisc Au project in the Eeyou Istchee James
Bay and Caniapiscau regions. The Caniapisc Au project is wholly
owned by Midland and consists of 94 claims covering an area of 47
square kilometres.
Highlights:
- Recent acquisition by map
designation of the Caniapisc Au project;
- Historical unexplained gold
anomalies in till samples with up to 41 pristine and 66 modified
gold grains;
- Reconnaissance exploration
program planned for summer 2024.
The Caniapisc Au project is positioned south of
the Caniapiscau Reservoir and geologically located within the
Ashuanipi subprovince, a less known and explored portion of the
Archean Superior Province. The project is more specifically located
in the Raynouard Complex, characterized by a 50 kilometre-long
volcanosedimentary belt comprising bimodal volcanic sequences,
metasediments and iron formations. In the Superior Province,
bimodal (basalts and rhyolites) volcanic sequences and iron
formations are respectively recognized in general for their
potential in base metals (Cu-Zn-Ag-Au) and gold. Moreover, the
Raynouard Complex is less metamorphosed and thus better preserved
than other areas of the Ashuanipi subprovince, which is favourable
for mineral exploration (better preservation of potential
deposits).
Historical exploration work, to the south of the
Caniapisc Au project, highlights the potential of the Raynouard
Complex with the presence of volcanogenic Cu-Zn-Ag-Au and porphyric
Cu-Au-Ag-Mo mineralizations. Historical showings to the south
include: Eagle Showing with selected grab samples returning up to
0.76% Cu, 8.94% Zn, 14.3 g/t Ag, 0.73 g/t Au, and up to 3.78 g/t Au
over 1.0 metres in channel sampling; Peacock Showing returned 1.7
g/t Au over 7.0 metres in channel sampling; and the Falcon Showing
with selected grab samples returning up to 8.6% Cu, 3.8 g/t Au.
49.6 g/t Ag, 1.3% Mo, and up to 3.0% Cu, 4.4 g/t Au, 20.1 g/t Ag
over 1.0 metres in drilling sampling.
The Caniapisc Au project is strategically
located north of these showings where a historical 2014 till
sampling survey identified gold anomalies. Three (3) till samples,
located on the project, returned up to 41 pristine, 66 modified,
and 9 remodeled gold grains, which to our current knowledge have
not been followed up extensively. The concentration of pristine and
modified gold grains combined with the observation that most of the
pebbles present these tills are mostly of volcanic and sedimentary
origin could indicate a proximal source up-ice. These till gold
counts are considered to be highly anomalous. For example, the
anomaly threshold for gold grains in tills from the gold-rich
Timmins area in the Abitibi is only 5 grains (McClenaghan, 2001).
This statistic is derived from samples processed using the same
method and laboratory as the ones reported here.
A reconnaissance prospecting and till sampling
program is currently planned for the upcoming summer exploration
season to identify the gold source related to these till
anomalies.
Cautionary statements
Grab samples are selective by nature and may not
be representative of mineralized zones.
Mineralization occurring at deposits and
showings mentioned in this press release is not necessarily
indicative of mineralization that may be intersected on projects
held by Midland and mentioned in this press release.
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 RTEC, BHP Canada Inc., Barrick Gold Corp.,
Wallbridge Mining Company Ltd, Probe Gold Inc., 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 Chief Geologist
Jean-François Larivière, P. Geo, Ph. D, prepared this press release
and verified the 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:
https://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.
Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/8e195c2d-452a-4073-96f2-b8aee69c8c8e
https://www.globenewswire.com/NewsRoom/AttachmentNg/55cdeee9-7a20-408d-9a0e-2479e956ff0b
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