MONTREAL, QUEBEC -- (Marketwire) -- 03/28/13 -- Midland Exploration Inc. ("Midland") (TSX VENTURE: MD) is pleased to report that drilling has resumed following the discovery of two new gold-bearing structures during its recent winter drilling campaign on its Laflamme property, located about 25 kilometres northwest of the town of Lebel-sur-Quevillon, Quebec.
During the drilling campaign, a total of seven (7) drill holes totalling 1,619.0 metres were completed to test geophysical targets located along strike from Maudore's recent discovery, where grades of 71.7 g/t Au over 1.2 metres and 0.8 g/t Au over 40.8 metres were reported, about 12 kilometres northwest of the Comtois gold deposit (Source: Press release by Maudore dated June 6, 2012).
Drill hole LAF-13-21, testing a VTEM-type conductor, intersected a new gold-bearing structure in sheared mafic volcanic rocks with pyrite-pyrrhotite mineralization, which graded 0.34 g/t Au over 25.56 metres from 144.0 to 169.56 metres, including 3.12 g/t Au over 1.50 metres from 145.50 to 147.00 metres, and 1.95 g/t Au over 1.25 metres from 167.85 to 169.10 metres. Moreover, a downhole PEM geophysical survey completed in this hole revealed the presence of an unexplained off-hole conductor that will be followed up by drilling during the upcoming campaign. This new gold structure is located about 3.5 kilometres northeast of the Maudore discovery.
About 2 kilometres southwest of the Maudore discovery, two drill holes completed along the same section intersected another gold-bearing structure with pyrite mineralization, occurring at the contact between silicified pillowed mafic rocks and sericitized felsic rocks. Drill hole LAF-13-24 encountered an interval grading 0.40 g/t Au over 5.70 metres from 59.10 to 64.80 metres, including 1.72 g/t Au over 1.00 metre from 59.10 to 60.10 metres, at a vertical depth of 50 metres, whereas drill hole LAF-13-23 returned a gold value of 0.34 g/t Au over 3.10 metres from 191.90 to 195.00 metres, about 100 metres below hole -24. This new gold-bearing structure is associated with a VTEM axis that remains unexplored at depth below hole -23 and along strike over more than 2.5 kilometres. Ground-based geophysical surveys are in the planning stages, to define new drilling targets along this structure.
Midland has resumed drilling on Laflamme with an additional two (2) drill holes planned for a total of about 300 metres, mainly designed to test the off-hole anomaly to the east and the lateral extension to the west of the gold-bearing structure intersected in hole LAF-13-21.
The Laflamme property covers more than 50 kilometres of favourable stratigraphy and structures with potential for orogenic gold, volcanogenic massive sulphides (Cu-Zn), and magmatic Ni-Cu-PGE deposits associated with ultramafic rocks. This property was initially acquired in 2008 based on the presence of significant gold, copper, and zinc anomalies in till, identified under the Octave project jointly led by the Ministere des Ressources Naturelles et de la Faune (MRNF) and the Geological Survey of Canada (GSC).
The Laflamme project consists of 724 claims totalling about 370 square kilometres. This project is currently a joint venture with North American Palladium Ltd, who recently announced the sale of its Quebec-based gold assets to Maudore Minerals Ltd (Source: Press Release by North American Palladium Ltd dated March 22 2013).
Figures locating the new gold-bearing structures on Laflamme can be consulted at the following links:
For Figure 1 - Map of the Abitibi showing the location of the Laflamme project, click here: http://media3.marketwire.com/docs/Figure1LaflammeAbitibi.pdf
For Figure 2 - Regional geology map of the Laflamme project, click here: http://media3.marketwire.com/docs/Figure2Laflamme.pdf
For Figure 3 - Map showing the location of the new gold-bearing structures, click here: http://media3.marketwire.com/docs/Figure3LaflammeMag.pdf
The exploration program on the Laflamme project is conducted by Midland and data are verified by Mario Masson, Vice-President Exploration for Midland and Qualified Person as defined by National Instrument 43-101. Assay samples are taken from NQ-size drill core sawn in half; one half is shipped to a commercial laboratory and the other half is kept for future reference. Assays were conducted by ALS-Chemex-Chimitec in Val-d'Or, and included blanks and standards inserted in the sample stream as a quality control procedure. The attitude of the zone is not yet known and the intersection width may not be true width.
About Midland Exploration
Midland targets the excellent mineral potential and the favourable investment climate of Quebec to make the discovery of new world-class deposits of gold, base metals and rare earth elements. Midland is proud to count on reputable partners such as North American Palladium Limited, Osisko Mining Corporation, Agnico-Eagle Mines 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 Mario Masson, VP Midland Exploration and Qualified Person as defined by NI 43-101. For further information, please consult Midland's website: www.midlandexploration.com
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.
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.
Midland Exploration Inc.
President and Chief Executive Officer
Most Popular Stories
- Desktop, Laptop Setups Still King
- Four DC Comics Properties Brought to TV Get Comic-Con Event
- UFC Fight Night Sees Robbie Lawler Win Unanimous Decision
- Plan to Simplify 2015 Health Renewals May Backfire
- 'Guardians of the Galaxy ' Sequel Slated for 2017
- Shania Twain's Vegas residency ending after 110 shows