Midland Identifies Gold Potential on Its Caniapisc Au Project, James Bay
14 Novembre 2024 - 1:30PM
Midland Exploration Inc. (
“Midland”)
(
TSX-V: MD) is pleased to announce the
results of its first reconnaissance program for gold on its
Caniapisc Au project in the Eeyou Istchee James Bay and Caniapisc
Au regions. The Caniapisc Au project is wholly owned by Midland and
consists of 94 claims covering an area of 47 square kilometres.
Highlights:
- Resampling of three (3)
historical till samples with up to 41 pristine and 66 modified gold
grains; and two (2) additional follow-up till samples
up-ice;
- Fifteen (15) samples with
anomalous gold, ranging from 0.10 to 0.75 g/t Au, located near
historical gold-bearing tills;
- Historical gold anomalies
remain unexplained in till samples with up to 41 pristine and
66 modified gold grains.
A three (3)-day geological reconnaissance
campaign was conducted this past summer on the Caniapisc Au
project. The main objectives of the reconnaissance campaign were to
validate the three (3) historical till gold anomalies on the
project and complete a first geological assessment of its gold
potential. A survey comprising five (5) till samples (10 kilograms
each) was completed on the project, including three (3) samples
collected on historical tills as well as two (2) additional samples
up-ice from the latter. Results for these till samples are
pending.
Within a radius of a few hundred metres up-ice
from the historical anomalous tills, prospecting work successfully
identified boulder fields (with angular boulders locally) and
outcrops. Out of a total of 55 grab samples collected during
this campaign, 47 are proximal to the historical gold anomalous
tills. Of these 47 samples, fifteen (15) yielded anomalous gold
values ranging from 0.10 to 0.75 g/t Au, from a total of 31
samples with gold values above 0.02 g/t Au. The remaining
samples, seven (7) of which yielded results between 0.20 and
0.60 g/t Au, are located 1 to 2 kilometres further north.
Mineralized host rocks are mainly sedimentary in origin, followed
by mafic volcanic rocks and intrusives (with possible porphyritic
textures locally). The mineralization mainly consists of pyrite
associated with pervasive silica alteration.
An exploration program to be conducted in the
following months on the Caniapisc Au project is currently in
preparation.
About the Caniapisc Au project
The Caniapisc Au project lies south of the
Caniapiscau Reservoir and is geologically located within the
Ashuanipi Subprovince, a lesser 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,
metasedimentary rocks and iron formations. 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 porphyry Cu-Au-Ag-Mo mineralization.
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 within the
perimeter of 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.
Quality control
Rock samples from the project were analyzed at
Actlabs laboratories in Ancaster, Ontario, by ICP-MS with 4-acid
digestion for metals, and by standard fire assay on 30-gram
fractions with atomic absorption finish for gold. Exploration
programs are designed, and results are interpreted by Qualified
Persons employing a Quality Assurance/Quality Control program
consistent with industry best practices, including the alternate
use of standards and blanks for every 20 samples.
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 found 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 Rio Tinto Exploration Canada Inc., BHP Canada
Inc., Barrick Gold Corp., Wallbridge Mining Company Ltd, Probe Gold
Inc., Agnico Eagle Mines Limited, Electric Elements Mining Corp.,
SOQUEM Inc., Nunavik 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 Midland’s portfolio and generate
shareholder value.
Qualified Person and Chief Geologist
Jean-François Larivière, P.Geo., PhD, 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/cf7c8a51-169c-4b41-a081-e64cabc8a322
https://www.globenewswire.com/NewsRoom/AttachmentNg/4994e3df-3450-4bea-b326-870c4d189ae5
https://www.globenewswire.com/NewsRoom/AttachmentNg/2ea34b57-9237-4338-9851-dfc64c56c354
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