MONTREAL, QUEBEC--(Marketwired - Oct 26, 2017) - Midland Exploration Inc. ("Midland") (TSX VENTURE:MD) is pleased to report the commencement of an exploration program involving trenching and a drilling campaign on its Heva gold property in partnership with IAMGOLD Corporation ("IAMGOLD"). This property is currently wholly owned by Midland and is located near the prolific Cadillac Break, about 5 kilometres northwest of the Canadian Malartic gold mine, jointly held by Agnico Eagle Mines Limited and Yamana Gold Inc., where, as at December 31, 2016, proven reserves were estimated at 51.12 million tonnes grading 0.95 g/t Au (1.57 Moz Au) and probable reserves at 152.55 million tonnes grading 1.13 g/t Au (5.53 Moz Au), for a total of 7.1 Moz Au (see press release by Agnico Eagle dated February 15, 2017, for the 100% joint venture). The Heva project consists of two claim blocks, Heva West and Heva East, totalling 34 claims and covering a surface area of more than 1,400 hectares.
Over the past few months, IAMGOLD conducted prospecting work and detailed mapping of 2016 trenches, and produced a structural reinterpretation of the entire property using geophysical inversion modelling of historical induced polarization data and 3D modelling of aeromagnetic data.
As a result of this work, a number of new high-priority exploration targets were defined along the extensions of the best gold occurrences identified in 2015 and 2016. These showings namely include a channel sample that graded 24.1 g/t Au over 0.50 metre (see press release by Midland dated September 14, 2016) (note that true thicknesses are unknown and cannot be determined at this time with the information available). In addition, a grab sample collected approximately 5 metres west of the channel sample yielded a grade of 38.5 g/t Au. Further trenching and prospecting work carried out in the fall of 2016 led to the discovery of several new high-grade gold showings, with grab samples yielding gold values of 41.0 g/t Au and 9.2 g/t Au (East area), as well as 13.9 g/t Au and 8.0 g/t Au (Central area) (see press release by Midland dated December 20, 2016) (note that gold values from grab samples may not be representative of the mineralized zones).
These new high-priority targets will be tested with a stripping program including up to seven (7) trenches, as well as a diamond drilling campaign consisting of four (4) to six (6) drill holes totalling between 1,200 and 1,500 metres. Stripping and trenching is slated for the end of October, whereas the drilling campaign is scheduled for November and December.
Maps showing the location of the Heva property, as well as the main stripping and drilling target area, may be consulted using the following link: http://media3.marketwire.com/docs/HevaOctober2017.pdf.
About Midland
Midland targets the excellent mineral potential of Quebec to make the discovery of new world-class deposits of gold, platinum group elements, base metals and rare earth elements. Midland is proud to count on reputable partners such as IAMGOLD Corporation, Agnico Eagle Mines Limited, Teck Resources Limited, SOQUEM INC., Osisko Mining Inc., Altius Minerals Corp., NioBay Metals Inc., Japan Oil and Gas and Metals National Corporation 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
This press release was prepared by Mario Masson, VP Exploration for Midland, certified geologist and Qualified Person as defined by NI 43-101. For further information, please consult Midland's 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.