Midland Identifies a New Gold Structural Target on Gaudet, South of Wallbridge’s Fenelon Deposit
MONTREAL, July 07, 2020 (GLOBE NEWSWIRE) — Midland Exploration Inc. (“Midland”) (TSX-V: MD) is pleased to announce the identification of a wide structural domain similar to the Fenelon gold-bearing structural setting following the completion of its high-resolution magnetic (“HR Mag”) Drone survey. This new survey was conducted approximately three (3) kilometres south of the Fenelon/Tabasco deposit and the recent Area 51 and Reaper discoveries held by Wallbridge Mining Company Ltd. (“Wallbridge”).
Highlights:HR Mag survey completed on Gaudet, 3 km south of Wallbridge’s Fenelon projectIdentification of a new untested NW-SE structural gold target of over 500 metres-wideCommencement of a 40-kilometre IP survey to cover this new target areaThe results of a detailed HR Mag survey recently conducted by Vision 4K along flight lines spaced 50 metres apart provided a very high level of structural detail, and specifically outlined a major structural domain marked by a NW-SE-trending magnetic grain over a width estimated at more than 500 metres. This structural domain, which exhibits several structures with the same NW-SE orientation as Wallbridge’s Tabasco zone, intersects and demagnetizes another magnetic lineament further south, the latter oriented E-W, that lies proximal to a major N-S-trending interpreted fault zone. The entire area is deemed high priority and has never been drill-tested.An IP survey totalling more than 40 kilometres should begin shortly along grid lines spaced 100 metres apart, in order to define new drilling targets within this high-priority structural domain located south of the Fenelon/Tabasco deposit and the Reaper discovery, both held by Wallbridge.The Gaudet property consists of 94 claims (53 km2) and covers, over a distance of more than 10 kilometres, a volcano-sedimentary sequence located between the Sunday Lake and Lower Detour faults. Last December, Wallbridge announced drill results on Fenelon (Tabasco zone) with values up to 22.73 g/t Au over 48.01 metres (see press release by Wallbridge dated December 3, 2019). More recently, the discovery of the Reaper showing by Balmoral Resources Ltd (“Balmoral”), subsequently acquired by Wallbridge, yielded high gold grades in drill hole reaching 308 g/t Au over 2.97 metres, including 858 g/t Au over 1.06 metre south of Area 51 (see press release by Balmoral dated April 30, 2020).Cautionary statement: Mineralization occurring on the Fenelon property (Main Gabbro, Tabasco, Area 51, and Reaper zones) held by Wallbridge is not necessarily indicative of mineralization that may be found on the Gaudet property held by Midland and located nearby.Since 2009, Midland has been one of the most aggressive mineral exploration companies to take a strategic position in the Detour belt and has built an impressive portfolio of seven (7) high-quality gold properties now totalling 1,491 claims (820 km2). These land positions provide the Company with a commanding position on the major Sunday Lake and Lower Detour faults and/or their subsidiaries, over a total combined distance of more than 85 kilometres, along the lateral extensions of the Detour Lake mine* and recent gold discoveries in Zone 58N*, Area 51-Fenelon* and Martiniere-Bug Lake* (*please refer to note at the end of this press release). Recently, Midland has optioned to Wallbridge its Casault project located along the Sunday Lake deformation zone at about 15 km west of the Fenelon deposit (see press release by Midland dated June 18, 2020).The health and safety of our workers and contractors comes first, and we are taking the necessary precautions to prevent the spread of COVID-19, by complying with health and safety measures recommended by Public Health officials, and INSPQ and CNESST regulations governing the reopening of mineral exploration activities in Quebec.* Mines and deposits located near Midland projects in the Detour beltDetour Lake mine (Owned by Kirkland Lake Gold – Information from Kirkland Lake Gold website): The Detour Lake open pit mine hosts 12.64 million ounces of gold in proven and probable mineral reserves, consisting in 397.7 million tonnes grading 0.99 g/t Au (as at December 31, 2019).Zone 58N (Owned by Kirkland Lake Gold – Information from Kirkland Lake Gold website): This deposit hosts 2.87 million tonnes in indicated resources at a grade of 5.8 g/t Au (534,300 oz Au) and 0.97 million tonnes in inferred resources at a grade of 4.35 g/t Au (136,100 oz Au).Fenelon (Owned by Wallbridge Mining Company – Information from Wallbridge website): 2018-2019 bulk sampling: 33,233 tonnes at 18.49 g/t Au.Martiniere/Bug Lake (Owned by Wallbridge Mining Company – Information from Wallbridge website): This deposit hosts pit-constrained indicated resources totalling 6,827,000 tonnes at a grade of 1.96 g/t Au (431,000 oz Au) and underground indicated resources totalling 1,092,000 tonnes at a grade of 4.54 g/t Au (159,000 oz Au).Cautionary statements:Mineralization occurring at the mines and deposits listed above is not necessarily indicative of mineralization that may be found on projects held by Midland described in this press release.The true thickness of drill intercepts reported in this press release cannot be determined with the information currently available; intervals are thus reported in core length.About MidlandMidland targets the excellent mineral potential of Quebec to make the discovery of new world-class deposits of gold, platinum group elements and base metals. Midland is proud to count on reputable partners such as Wallbridge Mining Company Ltd., BHP Billiton Canada Inc., Agnico Eagle Mines Limited, Osisko Mining Inc., 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 the Company portfolio and generate shareholder value.This press release was prepared by Mario Masson. P.Geo., VP Exploration for Midland and Qualified Person as defined by NI 43-101, who also approved the technical content of this press release.For further information, please consult Midland’s website or contact:Gino Roger, President and Chief Executive Officer
Tel.: 450 420-5977
Fax: 450 420-5978
Email: email@example.comWebsite: www.midlandexploration.comNeither 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 athttps://www.globenewswire.com/NewsRoom/AttachmentNg/510c02ae-29d1-4ec1-8ca4-6a2c04aa6cadhttps://www.globenewswire.com/NewsRoom/AttachmentNg/6bdcdc7d-054f-45c8-b6b7-2b795b50c7d0https://www.globenewswire.com/NewsRoom/AttachmentNg/e9b3b1af-2161-4488-8315-30d5f6adbad3https://www.globenewswire.com/NewsRoom/AttachmentNg/7c21ce7c-1fe8-4e98-ba84-17ae2fa43ee1https://www.globenewswire.com/NewsRoom/AttachmentNg/eb0ada4f-8bff-4372-9b99-dfde65d78c00