MONTREAL, QUEBEC--(Marketwired - Oct 1, 2014) - Midland Exploration Inc. ("Midland") (TSX VENTURE:MD), in partnership with Donner Metals Ltd. ("Donner"), is pleased to announce the beginning of an initial ground-based electromagnetic geophysical program on its Samson nickel-copper, platinum group element ("Ni-Cu-PGE") and gold project, as well as the resumption of Diamond drilling on its Valmond gold project. Both projects are currently wholly owned by Midland and under separate options with Donner.
Samson Project (Ni-Cu-PGE and gold)
The Samson project consists of 512 claims covering a surface area of about 284 square kilometres about 50 kilometres west of the town of Matagami, in the Abitibi region of central Quebec. This new project has a strong potential for Ni-Cu-PGE and gold and is located about 5 kilometres south of the recent Ni-Cu-PGE and gold discoveries made by Balmoral Resources Ltd. ("Balmoral") on the Grasset project. Recently, Balmoral announced the discovery of a high-grade Ni-Cu-PGE zone, with values up to 1.79% Ni, 0.19% Cu, 0.42 g/t Pt, and 1.04 g/t Pd over 45.28 metres including an interval grading 10.6% Ni, 0.45% Cu, 2.04 g/t Pt, and 5.23 g/t Pd over 1.10 metre and 1.62% Ni, 0.18% Cu, 0.36 g/t Pt and 0.88 g/t Pd over 54.08 metres (see press releases by Balmoral dated May 20, 2014 and August 18, 2014).
This project covers, over a strike length of more than 20 kilometres, a series of strongly magnetic sills located just south of the regional Lower Detour Fault, also known for its gold potential. Lithogeochemical data from historical drill holes indicate the presence of ultramafic sills, thus confirming the potential for magmatic Ni-Cu-PGE mineralization on the Samson project.
Over the next few weeks, a major ground-based geophysical program totalling about 50 kilometres and including both magnetic and electromagnetic surveys will be launched, in an effort to characterize a series of untested MegaTEM conductors coincident with strong magnetic responses. About a dozen high-priority MegaTEM targets were selected for this ground follow-up in light of their association with strongly magnetic units interpreted as ultramafic rocks. The objective is to define high-priority drill targets for the first campaign that will follow this geophysical program.
Valmond Project (Gold)
The Valmond project comprises 111 claims covering a surface area of about 62 square kilometres and is located about 50 kilometres west of the town of Matagami, in the Abitibi region of central Québec. It covers a segment of more than 15 kilometres along the important gold-bearing Bapst fault, The project hosts several historical occurrences along the Bapst fault with drill intercepts grading 2.3 g/t Au over 4.57 metres and 5.22 g/t Au over 1.55 metres.
Following a helicopter-borne VTEM survey carried out on the Valmond project in 2013, a new area of interest with significant structural complexity was identified proximal to the regional Bapst gold-bearing fault. This area is characterized by the presence of several untested VTEM conductors associated with a complex network of subsidiary faults. A few historical drill holes collared to the south intersected anomalous gold and arsenic values as well as quartz-carbonate-tourmaline and sericite alteration zones.
The upcoming drill program, totalling 300 metres, will consist of two (2) drill holes of 150 metres each and will begin around mid-October. Midland is the project operator.
About Midland
Midland targets the excellent mineral potential of Quebec to make the discovery of new world-class deposits of gold, PGE, base metals and rare earth elements. Midland is proud to count on reputable partners such as Donner Metals Ltd, Teck Resources Limited, Agnico Eagle Mines Limited, Maudore Minerals Limited, Japan Oil, Gas and Metals National Corporation and SOQUEM Inc. Midland prefers to work in partnership and intends to quickly conclude additional agreements in regard to newly acquired projects. Management is currently reviewing other opportunities and projects to build up the Company portfolio and generate shareholder value.
This press release was prepared by Mario Masson, Vice President Exploration of Midland Exploration and Qualified Person as defined by NI 43-101. For further information, please consult Midland's website or contact:
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.