MONTREAL, QUEBEC -- (Marketwired) -- 07/09/13 -- Midland Exploration Inc. ("Midland") (TSX VENTURE: MD) is pleased to announce acquiring 455 new claims by map designation covering more than 200 square kilometres in the Labrador Trough ("Trough") some 80 kilometres west of Kuujjuak, Quebec. These new claims, exclusively owned, cover a large folded pluri-kilometric ultramafic-mafic complex known, in this section of the Labrador Trough, for its strong exploration potential for Platinum Group Elements ("PGE").
At present, in this sequence of the Trough, numerous PGE enriched Reef-type mineralized horizons (characterized to be long, wide and narrow deposits) have been traced over several hundreds of meters, even kilometers, with PGE plus gold ("PGE + Au") often beyond 2-3 grams per tonnes over few metres ("m") thick as those very large Reef-type deposits as the Bushveld in South Africa and the Great Dyke in Zimbabwe. By instance, they are the Idefix, Palladin and Lafortune showings that returned up to 16.2 g/t PGE + Au over 1.0m, 3.5 g/t PGE + Au over 3.0m and 13.4 g/t PGE + Au in grab sample respectively.
Impala Platinum Holdings Ltd, an important African PGE producer is currently active in the Trough evaluating new PGE occurrences located directly in the lateral extension of these last properties acquisition. Midland currently controls more than 120 kilometres of very prospective stratigraphy from where already 9 PGE + Au showings are documented (coming from the Quebec Ministere des Ressources Naturelles et de la Faune SIGEOM database) and returned values ranging from 0.47 to 2.17 g/t PGE + Au also along several kilometres of documented mineralized horizons. On Midland Properties, all together, 16 grab samples are above 0.50 g/t PGE + Au including 6 samples with values above 1.00 g/t PGE + Au.
The PGE have many commercial and industrial applications entering in the fabrication of flat-screen monitor, fiber glass, surgery instrument or hard drive by instance, but in a larger portion in the jewel market and even more importantly, as catalyzer in the car industry to reduce air pollution created by the exhaust of gasoline engine.
Midland is very proud to add this very promising precious metal project to its portfolio. The PGE's prices has maintained a continuous increase since 2000 due to the growing demand from emerging countries as Brazil, Russia, India and China which have recently agreed to control their pollutant emissions that will require abundant PGE to control.
Midland anticipates to begin exploration fieldwork this summer by conducting an high resolution magnetic airborne survey and channel sampling on its best PGE showings combined with detail prospecting to find new showings along historically poorly explored mineralized horizons.
Maps showing these new properties with strong potential for Platinum Group Elements may be consulted at the following links:
For Figure 1 - Map of the Labrador Trough showing the location of the Pallas PGE project, click here: http://media3.marketwire.com/docs/MD0708-1.pdf
For Figure 2 - Map showing the PGE showing on the north block, click here: http://media3.marketwire.com/docs/MD0708-2.pdf
For Figure 3 - Map showing the PGE showing on the south block, click here: http://media3.marketwire.com/docs/MD0708-3.pdf
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 Agnico-Eagle Mines Limited, Osisko Mining Corporation, 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 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 Robert Banville, senior geologist for Midland and Qualified Person as defined by NI 43-101. For further information, please consult Midland's website.
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.
Gino Roger, President and Chief Executive Officer
450 420-5978 (FAX)
Most Popular Stories
- Study: Recessions Can Postpone Motherhood Forever
- Hispanic Entrepreneurs Short-changed in Texas
- Hispanics Carry Big Clout: Census
- Tim Cook Has Proved That Apple is His Baby
- Who Is Daniel Ivascyn?
- Washington's 'The Equalizer' Debuts With $35 Million
- Effort to Oust Assad Put on Hold
- China Approves iPhone 6 After Security Assurances
- Netflix Eyes Hollywood With Feature Film
- Qantas Puts World's Largest Plane on Longest Route