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MD Midland Exploration Inc

0.36
-0.015 (-4.00%)
17 May 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Midland Exploration Inc TSXV:MD TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.015 -4.00% 0.36 0.37 0.38 0.38 0.36 0.38 92,782 20:59:49

Results From Midland's First Phase Exploration Program Return New Gold Showings With Values Up-to 18.8 g/t on its James Bay E...

22/08/2013 2:00pm

Marketwired Canada


Midland Exploration Inc. ("Midland") (TSX VENTURE:MD) is pleased to report the
results of its first phase exploration program on its 100% owned James Eleonore
Gold project located in James Bay, Quebec. This program included ground
geophysics and prospecting on its Eleonore Centre property.


The James Bay Eleonore project encompasses the Eleonore Centre and West
properties comprising 247 claims covering a surface area of 128 square
kilometres, is located approximately 25 kilometres southwest from and in a
geological environment similar to Goldcorp Inc.'s Eleonore deposit. This
world-class gold deposit contains 3.15 million ounces of measured and indicated
gold resources at an average grade of 11.92 grams per tonne, and 6.25 million
ounces of inferred gold resources at an average grade of 12.93 grams per tonne
(Source: Goldcorp press release February 17, 2010). 


The 2013 first phase prospecting and sampling program comprised a total of 156
grab samples sampled in the north eastern part of the Eleonore Centre property.
Two new quartz-tourmaline veins zones, hosted by a metasediment, were uncovered
surrounding the Golden Gun and Golden Gun South area. Several shear zones
crosscutting though the metasediment were also discovered. Results returned
assay values up-to 18.8 g/t Au. The 18.8 g/t Au showing is found 75 metres east
of the Golden Gun showing (13.6 g/t Au). A grab sample 200 metres west of the
Golden Gun showing returned 1.69 g/t Au. Furthermore, a new showing, named Aston
Martin, was identified 1.4 kilometres south of the Golden Gun showing and
returned 1.63 g/t Au. This new showing coincides with a conductor and a strong
induced polarisation ("IP") anomaly. The 42.5 kilometre IP geophysical survey
was completed earlier this year and results show several strong to moderate
targets. Trenching is currently underway on known and new showings as well as
further prospecting is planned to investigate the IP anomalies.


Prospecting conducted by Midland from 2009 to 2012 on the Eleonore Centre
property highlighted the presence of several highly prospective gold showings
with values up to 13.60 g/t Au on selected grab samples. The 2012 prospecting
program was also successful in discovering the Golden Gun South showing,
consisting in a quartz-tourmaline pyrite bearing stockwork occurring in a
metasediment which returned values up to 3.30 g/t Au. This showing is 220 metres
south the Golden Gun showing (13.6 g/t Au). The 2011 soil geochemistry survey,
in which 272 samples were collected across the eastern part of the Eleonore
Centre property, delineated a series of As-Cu-Sb anomalies clustered along a
north-south-trending axis. Finally, a series of parallel northeast trending
AeroTEM II conductors were outlined by the 2010 airborne geophysical survey
which targeted sulfide bearing Eleonore-type sediments on the northern part of
the Eleonore Centre property. Some of these conductors coincide with uncovered
gold-bearing disseminated to semi-massive sulfides zones identified by Midland.
Several conductive anomalies still remain untested and unexplained. 


Midland is very encouraged by the results obtained on its James Bay Eleonore
Gold project, as they enhance its very favorable potential that could lead
towards significant new gold discoveries. A geological map showing the new gold
occurrences is available on Midland's website.


About Midland 

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 Agnico Eagle Mines Limited, Osisko Mining Corporation, Maudore
Minerals Ltd., 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 Gino Roger, registered engineer and Qualified
Person as defined by NI 43-101. For further information, please consult
Midland's website.


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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Gino Roger
President and Chief Executive Officer
450 420-5977
450 420-5978 (FAX)
info@midlandexploration.com
www.midlandexploration.com

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