Midland Resumes Exploration on its Mythril Cu-Au-Mo-Ag Project
MONTREAL, Dec. 18, 2019 (GLOBE NEWSWIRE) — Midland Exploration Inc. (“Midland”) (TSX-V: MD) is pleased to report that exploration will resume in the next few weeks on its wholly owned (100% Midland) Mythril and Mythril regional projects.
The winter exploration campaign will include induced polarization (“IP”) geophysical surveys over copper-gold-molybdenum-silver and gold-only boulder fields found in 2019 northeast and north of the main Mythril showings. IP surveys totalling 153 kilometres will also be done on other copper-gold-molybdenum-silver showings and boulder fields found in 2019 on claim blocks located around the main Mythril block (“Mythril regional project”).In addition, a 3D model of the 2019 exploration (including drilling) on Mythril will be constructed. These coming surveys and models will be used to define the next drilling targets for an upcoming winter/spring drilling campaign on the Mythril and Mythril regional projects.2019 Prospection highlights on the Mythril projectSeveral new mineralized boulder fields were found in 2019, located several kilometers north and northeast of the previously known Mythril showings. These new highly prospective areas will be covered by an extensive IP geophysical survey (dipole-dipole) in the coming weeks, to define targets for a winter drilling campaign. Note that grab samples are selective by nature and values returned are not representative of mineralized zones.Boulder fields 5 km northeast of the main Mythril showings: forty-eight (48) boulders spread over 1.2 km long by 200 m wide. Average of 0.78 % Cu, 0.56 g/t Au, 0.07 % Mo and 6.73 g/t Ag (1.49 % CuEq.*) (grab samples), and up to: 8.6 % Cu, 10.4 g/t Au and 25.6 g/t Ag (15.43 % CuEq.*) (Sample: #410279) and 0.83 % Mo (Sample: #410288) (grab samples); results published on September 5, 2019.Two (2) boulder fields bornite dominated (twenty-one (21) boulders), 2 kilometers north of Mythril. Average of 0.66 % Cu, 0.36 g/t Au, 6.14 g/t Ag (0.95 % CuEq.*) (grab samples), with values up to: 2.09 % Cu (Sample: #410575) and 1.52 g/t Au (Sample: #410574); results published on September 5, 2019.Gold-bearing boulders found in the northeastern part of the Mythril project (2.84 g/t Au; 2.83 g/t Au; 0.59 g/t Au; grab samples) combined with low copper (<0.15% Cu) and molybdenum (<0.01% Mo) values. Mineralization consists of pyrite (up to 1%), magnetite and trace chalcopyrite in a granodiorite with biotite alteration. This is the first occurrence of predominantly gold mineralization on Mythril. Areas to the north, east and west of these boulders remain unexplored. Results were published on November 7, 2019.Ten (10) new granodiorite boulders with Cu-Au-Mo-Ag mineralization also discovered south the previous gold-rich ones. These boulders yielded average grades of 0.32% Cu, 0.38 g/t Au, 0.04% Mo and 4.7 g/t Ag (0.77 % CuEq.*) (grab samples). The boulders are much more gold-rich compared to other mineral occurrences on the Mythril project. These observations suggest a systematic increase in gold versus copper content to the east and north of the project. This type of multi-kilometre-scale variation is typical of large-scale hydrothermal system. Results were published on November 7, 2019.2019 Prospection highlights on the Mythril regional projectSeveral new Cu-Au-Mo-Ag showings and boulder fields were also found in 2019 on the Mythril regional project, which consists in several claim blocks located north, east and southeast of the main Mythril project. All results below were published on October 31, 2019. These new discoveries combined with the Mythril occurrences highlight a previously unrecognized Cu-Au-Mo-Ag domain in the Eastern James Bay area. Induced polarization (IP) surveys performed in the coming weeks will cover the areas surrounding the Tornado showing, the Faramir/Boromir showing and boulder fields, and the Chisaayuu showing.New Tornado Au-Cu-Mo showing, with values up to 4.7 g/t Au and 0.39 % Cu in grab samples; mineralized float yielding 3.13 g/t Au and 0.35 % Cu in a grab sample in the same area (Tilly south claim block, Pasithee area).New Faramir showing yielding up to 0.34 % Cu in grab samples, and the Boromir float field containing twenty-two (22) mineralized floats yielding an average of 0.12 % Cu (grab samples; Tilly south claim block, western area). The showing and the floats occur as dense stockworks of quartz, chlorite, ankerite, epidote veins, in very strongly altered granitoids. New Mo-bearing showing and floats northeast of Faramir: up to 1.72 % Mo (grab sample from a locally sourced float).New Cu-Mo-Au showing on the Chisaayuu block: nine (9) grab samples of mineralized granodiorite yielding average grades of 0.11 % Cu, 0.01 % Mo and 0.2 g/t Au, with values reaching up to 0.7 g/t Au and 0.22 % Cu (sample A0350715), and 0.03% Mo (sample A0350714). Approximately 800 metres southwest of the showing, a grab sample from a boulder of diorite graded 0.75 g/t Au, 0.11 % Cu, 0.06 % Mo, 9.9 g/t Ag and 0.38% Zn.New Mo-Au-Cu showing on the new Corvette claim block: up to 3.84 g/t Au and 0.45 % Mo (grab sample, locally sourced float); up to 1.79 % Mo (grab sample from an outcrop)2019 Drilling on the Mythril projectThe best results from 2019 drilling on Mythril (Phases 1 to 3) are summarized below. Note that the true thickness of reported drill intervals cannot be determined with the information currently available.Phase 1 (published on May 16, 2019) : MYT-19-06: 1.07 % Cu, 0.37 g/t Au, 8.87 g/t Ag (1.41 % CuEq.*) over 12.55 meters.Phase 2a (published on July 30, 2019) : MYT-19-11 (1300E): 1.34 % Cu, 0.69 g/t Au, 0.04 % Mo and 9.54 g/t Ag (2.04 % CuEq.*) over 9.00 meters.Phase 2b (published on September 5, 2019) : MYT-19-24 (200E): 1.61 % Cu, 0.09 g/t Au, 0.01 % Mo and 6.7 g/t Ag (1.77 % CuEq.*) over 3.12 meters.Phase 3 (published on November 5, 2019) : MYT-19-33 (1200E) : 0.11 % Cu, 0.06 g/t Au and 2.7 g/t Ag (0.19 % CuEq.*) on 93.1 meters.*Metal prices used to calculate CuEq.*: Au $1,285/oz, Cu $2.77/lb, Ag $15/oz, Mo $10.90/lb. Recoveries of 100% of all metals are assumed.Quality controlExploration program design and interpretation of results are performed by qualified persons employing a Quality Assurance/Quality Control program consistent with industry best practices, including the use of standards and blanks with every 20 samples. Rock samples on the project are assayed for gold by standard 30-gram fire-assaying with inductively coupled plasma atomic emission spectroscopy (ICP-AES; Au-ICP21) or gravimetric finish (Au-GRA21) at ALS Minerals laboratories in Vancouver, British Columbia. All samples are also analyzed for multi-elements using the four-acid ICP–AES method (ME-ICP61), also at ALS Minerals laboratories in Vancouver, British Columbia. Samples that exceed 1% copper, zinc, molybdenum or nickel are reanalyzed by four-acid ICP-AES optimized for high grades.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 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 Sylvain Trépanier, P.Geo., VP Exploration James Bay and Northern Quebec 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: firstname.lastname@example.orgWebsite: 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.Figures accompanying this announcement are available athttps://www.globenewswire.com/NewsRoom/AttachmentNg/3d7a6391-bcf9-4da1-8511-c842be9af8abhttps://www.globenewswire.com/NewsRoom/AttachmentNg/623a42de-d8c3-4612-8811-2317e257237ehttps://www.globenewswire.com/NewsRoom/AttachmentNg/a97dfb03-e6de-4c8a-a824-7f72e290ade8https://www.globenewswire.com/NewsRoom/AttachmentNg/8b3612ec-0689-4ce8-91e7-96a23e8ac79dhttps://www.globenewswire.com/NewsRoom/AttachmentNg/18f9659b-5227-4db9-abf3-1cb49d877eb3https://www.globenewswire.com/NewsRoom/AttachmentNg/66528910-934a-42c7-b9fe-7afd7d549222https://www.globenewswire.com/NewsRoom/AttachmentNg/33956ceb-e272-40ce-aab0-7232f1d5d97dhttps://www.globenewswire.com/NewsRoom/AttachmentNg/bea977c4-73fb-4bd1-8413-132275bf1149