Midland Acquires A 23-Claim Block And Consolidates Its Strategic Position South Of Wallbridge’s Fenelon Project
MONTREAL, April 02, 2020 - Midland Exploration Inc. (“Midland”) (TSX-V: MD) is pleased to announce the recent acquisition of a block of twenty-three (23) claims located approximately five (5) kilometres south of the Fenelon/Tabasco deposit and the recent Area 51 discovery, both held by Wallbridge Mining Company (“Wallbridge”).Midland consolidates its strategic position in the Detour belt
These twenty-three (23) new claims, recently acquired and wholly owned by Midland, consolidate the Gaudet property initially acquired in November 2019 (see press release by Midland dated November 27, 2019). The Gaudet property now consists of a total of 94 claims (53 km2) and covers, over a distance of more than 10 kilometres, a volcano-sedimentary sequence located between the Sunday Lake and Lower Detour faults. Last December, Wallbridge reported drill intercepts on its Fenelon property (Tabasco Zone) grading up to 22.73 g/t Au over 48.01 metres (see press release by Wallbridge dated December 3, 2019). Wallbridge’s Fenelon property is located about 5 kilometres north of the Midland’s Gaudet property.
Note: Mineralization hosted on Wallbridge nearby property is not necessarily indicative of mineralization hosted on the Company’s property.
Since 2009, Midland has been one of the most aggressive mineral exploration companies to take a strategic position in the Detour belt and has built an impressive portfolio of seven (7) high-quality gold properties now totalling 1,491 claims (820 km2). These land positions provide the Company with a commanding position on the major Sunday Lake and Lower Detour faults and/or their subsidiaries, over a total combined distance of more than 85 kilometres, along the lateral extensions of the Detour Lake mine* and recent gold discoveries in Zone 58N*, Area 51-Fenelon* and Martiniere-Bug Lake* (*please refer to note at the end of this press release).
* Mines and deposits located near Midland projects in the Detour belt
Detour Lake mine (Owned by Kirkland Lake Gold. – Information from Kirkland Lake Gold Website): The Detour Lake open pit mine hosts 12.64 million ounces of gold (“oz Au”) in proven and probable mineral reserves, consisting in 397.7 million tonnes grading 0.99 g/t Au (as at December 31, 2019).
Zone 58N (Owned by Kirkland Lake Gold – Information from Kirkland Lake Gold Website): This deposit hosts 2.87 million tonnes in indicated resources at a grade of 5.8 g/t Au (534 300 oz Au) and 0.97 million tonnes in inferred resources at a grade of 4.35 g/t Au (136 100 oz Au).
Fenelon (Owned by Wallbridge Mining Company Ltd. – Information from Wallbridge Website): 2018-2019 bulk sampling: 33,233 tonnes at 18.49 g/t Au.
Martiniere/Bug Lake (Owned by Balmoral Resources Ltd. – Information from Balmoral Website): This deposit hosts pit-constrained indicated resources totalling 6,827,000 tonnes at a grade of 1.96 g/t Au (431,000 oz Au) and underground indicated resources totalling 1,092,000 tonnes at a grade of 4.54 g/t Au (159,000 oz Au).
Cautionary statements:
Mineralization occurring at the mines and deposits listed above is not necessarily representative of mineralization that may be found on projects held by Midland described herein.
The true thickness of drill intercepts reported in this press release cannot be determined with the information currently available; intervals are therefore reported in core length.
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 BHP Billiton Canada Inc., Agnico Eagle Mines Ltd., 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 Mario Masson. P.Geo., VP Exploration 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: info@midlandexploration.com
Website: www.midlandexploration.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.
A figure accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/c93045ee-903e-4b77-b2cc-9bfb03337d3c
