MONTREAL, Jan. 21, 2019 (GLOBE NEWSWIRE) -- Midland Exploration inc. (“Midland“) (TSX-V : MD) is pleased to announce the results of geochemical (B-horizon soils) and geophysical surveys (mag-EM) performed on its wholly owned (100% Midland) Mythril discovery.
Highlights
- Continuous zone of copper soil anomalies that is at least 2.4 kilometres long, observed on each survey line, and from 25 to 250 metres wide. Strongest and widest copper anomalies (up to 0.12 % Cu in soil) are found on the last line to the west, still open and unexplained.
- Molybdenum soil anomalies mostly overlap the copper anomalies but are clearly stronger in the eastern part of the known system. Similar Cu vs Mo zoning also observed in surface showings and float fields; typical of large magmatic-hydrothermal mineralized systems, with Cu highest in shallower/colder parts and Mo highest in deeper/hotter parts.
- Preliminary results from an airborne magnetic-electromagnetic survey indicate that the known Cu-Au-Mo-Ag showings are located at the northern edge of a strong and laterally continuous magnetic anomaly.
The Mythril discovery is located about 7 kilometres south of the Trans-Taïga road, James Bay Eeyou Istchee, Quebec. In only nine days of prospecting in 2018, 11 new surface copper-gold-molybdenum-silver showings, and 2 molybdenum-only showings, were found, yielding values such as 2.74 % Cu, 0.44 g/t Au, 0.06 % Mo, 24.3 g/t Ag over 2.7 meters in channels on the Celeborn showing (open all directions), and 0.55 % Cu, 0.26 g/t Au, 0.25 % Mo, 5.39 g/t Ag over 3.3 meters on the Galadriel showing (open south and west). Fifty-seven (57) grab samples from mineralized outcrops along 2 km strike length returned an average of 2.03 % Cu, 0.48 g/t Au, 0.18 % Mo, 18.3 g/t Ag . One hundred and sixteen (116) mineralized floats were found, yielding an average of 1.92 % Cu, 0.87 g/t Au, 0.11 % Mo, 20.7 g/t Ag . Floats are scattered over almost 3 km strike length. Most of the floats are angular and interpreted to be of local origin. The Cu-Au-Mo-Ag mineralized system is more than 2 kilometers long, based on surface showings. The full dimensions of the system are not known yet. Note that grab samples are selective by nature and values reported are not representative of mineralized zones.
2018 Soil survey results
Results of an extensive B-horizon soil survey performed in October on the project are now fully available. Results clearly show a continuous zone of copper anomalies that is at least 2.4 kilometres long, observed on each survey line, and from 25 to 250 metres wide . Known Cu-Au-Mo-Ag showings and float fields are found within this larger copper anomalous zone in soils. The copper anomalous zone is both stronger and larger ( up to 250 metres wide ) in the two westernmost lines, with the strongest results in the last line (up to 0.12 % Cu in soils ); it is open to the west and is still unexplained in that area. The 2.4 km-long Cu anomalous zone seems to disappear to the east of the easternmost known showings; however, a zone of much thicker glacial deposits in that eastern area could be masking the geochemical footprint of any underlying mineralization. Note that a copper-bearing paragneiss float was found in these glacial deposits in October. This float cannot originate from the known showings, because all glacial transport directions in the area are toward the west. A strong isolated copper±molybdenum anomaly is also observed in one sample at the northeastern end of the survey near a lake where glacial deposits are thinner, possibly indicating continuing mineralization in that direction.
Zones of obvious molybdenum soil anomalies overlap both the copper anomalies and known mineralized zones and float fields. Mo soil anomalies are strongest in the center/eastern part of the known mineralized system. This Cu vs. Mo zoning is also clearly observed in rock samples (outcrops and floats), with Mo values in rocks relatively higher in the central part of the system, and even higher Mo in its eastern portion. This type of Cu vs. Mo zoning is typical of large magmatic-hydrothermal systems, with Mo enriched in the deepest/hottest parts of systems while relatively higher Cu values are found in shallower/colder portions.
Magnetic-electromagnetic survey completed
A 2483 kilometers-lines heliborne magnetic-electromagnetic survey was completed in December 2018 to cover the main Mythril claim block. Preliminary results from the survey indicate that the known Cu-Au-Mo-Ag showings are located at the northern edge of a strong and continuous magnetic anomaly. Final magnetic and electromagnetic data will be available in several weeks.
Induced polarization survey
An induced polarization (IP) survey is planned to begin in the next few weeks. It will consist of 163 kilometres-lines of gradient IP (200 metres spacing between lines), with 52 kilometers-lines of dipole-dipole IP (100 metres lines spacing) covering the known showings.
Quality control
Exploration program design and interpretation of results is 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 analysed for multi-elements, using 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.
The technical or scientific information in this press release has been prepared by Sylvain Trepanier, P.Geo., VP Exploration for James Bay and Northern Quebec at Midland, a “qualified person” as defined by NI 43-101.
About Midland
Midland 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 Agnico Eagle Mines Limited, IAMGOLD Corporation, Osisko Mining Inc., Altius Minerals Corp., SOQUEM INC., NioBay Metals Inc., Nuvavik 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.
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: info@midlandexploration.com
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.
Photos accompanying this announcement are available at http://www.globenewswire.com/NewsRoom/Attachm...fb1cce9109 http://www.globenewswire.com/NewsRoom/Attachm...0b0d3f31a4 http://www.globenewswire.com/NewsRoom/Attachm...1dbee2eb42 http://www.globenewswire.com/NewsRoom/Attachm...c42efd5b88 http://www.globenewswire.com/NewsRoom/Attachm...8a218ed8fa
