|By Marketwired .||
|December 1, 2016 08:30 AM EST|
MONTREAL, QUEBEC -- (Marketwired) -- 12/01/16 -- Midland Exploration Inc. ("Midland") (TSX VENTURE:MD) is pleased to announce the start of a new drilling program on the Patris gold property, wholly owned by Midland and currently under option by Teck Resources Limited ("Teck") (see press release dated September 17 2013 for agreement terms). This project comprises 260 claims covering a surface area of about 108 square kilometres in La Pause and Clericy townships and is located only 30 kilometres northeast of the city of Rouyn-Noranda and less than 10 kilometres northwest of the prolific Doyon/Westwood-Bousquet-LaRonde gold mining camp.
This new drilling campaign will comprise three to five short drill holes, including two contingency holes, for a total of approximately 800-1,400 metres. Following an induced polarization survey totalling 15 line kilometres and a magnetic survey of 36 line kilometres, both completed in the fall of 2015, several anomalies (magnetic lows) were selected for drill testing along the strike extensions from drill hole PAT-15-05. This hole intersected a wide alteration zone with pyrite, chalcopyrite, galena, and molybdenite within syenite and ultramafic rocks which are strongly altered to fuchsite, quartz and carbonates. This alteration zone was intersected over a drill interval of approximately 100 metres and locally yielded anomalous copper, molybdenum, silver, and lead values of up to 82.6 g/t Ag, 0.10 g/t Au, 0.22% Cu and 1.0% Pb over 1.0 metre.
The Patris property offers excellent gold potential as it covers the Manneville Fault over more than 8 kilometres of strike length and the La Pause Fault over more than 10 kilometres of strike length, both recognized as subsidiary faults to the famous Destor-Porcupine Fault Zone. The geological setting of the Patris property, where clastic metasedimentary and ultramafic rocks are juxtaposed along a faulted contact and intruded by a porphyry dyke swarm, is similar to the Malartic mining camp and the South Barnat ore deposit on the Canadian Malartic property held in JV by Agnico Eagle Mines and Yamana Gold inc.
Midland targets the excellent mineral potential of Quebec to make the discovery of new world-class deposits of gold, platinum group elements, base metals and rare earth elements. Midland is proud to count on reputable partners such as Teck Resources Limited, Agnico Eagle Mines Limited, SOQUEM INC., Osisko Exploration James Bay Inc., Japan Oil and Gas and Metals National Corporation 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, VP Exploration for Midland, certified geologist and Qualified Person as defined by NI 43-101.
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.
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