MONTREAL, Sept. 24, 2024 (GLOBE NEWSWIRE) — Midland Exploration Inc. (“Midland”) (TSX-V: MD), in partnership with Wallbridge Mining Company Ltd (“Wallbridge”), is pleased to announce the commencement of a diamond drilling campaign in the eastern part of the Casault gold property.
Highlights:
- Five (5) holes, 1,100m drilling program underway;
- Regional and structural mapping conducted in the summer of 2024;
- New prospective yet unexplored area north of the Sunday Lake Fault with up to 112 gold grains found in till, including 97 pristine grains;
- More than 15 new exploration targets generated, including a new structural interpretation and new drilling targets at Vortex.
Diamond Drilling
A drilling campaign totalling 1,100 m in five (5) drill holes was launched in September. The drill holes will focus on a new prospective, yet unexplored area located north, “up-ice” from the gold-in-till anomaly (97 pristine grains) detected in hole CSS-23-018 during the overburden drilling program conducted in 2023. This target corresponds to a magnetic low (possible alteration zones) that extends along a northwest-trending subsidiary fault extending from the north break along the main Sunday Lake Deformation Zone. This important structure is a first order metallotect to which are associated the Detour Lake gold mine in Ontario and the Fenelon Gold and Martiniere gold deposits in Quebec. The new high-priority target is favourably located, approximately 18 kilometres west of the Fenelon Gold deposit held by Wallbridge.
In addition, regional-scale geological and structural mapping were conducted this summer over a total of eight (8) days at Casault West and Casault East, in order to assess regional structures and potential mineralization a) adjacent to the Martiniere property, b) adjacent to the Turgeon Pluton, and c) in the sedimentary basin on Casault East.
Casault Gold Property
The Casault gold property, which comprises the Casault West and Casault East mineral claim blocks, is located approximately 110 kilometres west of the town of Matagami, between Wallbridge’s 100% owned Martiniere and Detour East gold properties. Wallbridge has an option to acquire up to a 65% interest in the 177 km2 Casault property from Midland Exploration (see press release by Midland dated June 18, 2020). Casault covers more than 20 kilometres of the Sunday Lake Deformation Zone, along which the Martiniere and Fenelon Gold deposits held by Wallbridge are located and which also hosts the world-class Detour Lake mine held by Agnico Eagle Mines Limited.
Cautionary Statement
Mineralization occurring on the Fenelon Gold and Martiniere gold projects held by Wallbridge, and at the Detour Lake mine held by Agnico Eagle Mines Limited, is not necessarily indicative of mineralization that may be found on the Casault property held by Midland.
About Midland
Midland targets the excellent mineral potential of Quebec to make the discovery of new world-class deposits of gold and critical metals. Midland is proud to count on reputable partners such as Wallbridge Mining Company Ltd, Barrick Gold Corporation, BHP Canada Inc., Rio Tinto Exploration Canada Inc., Probe Gold Inc., Agnico Eagle Mines Limited, Electric Element Mining Corp., SOQUEM Inc., Nunavik Mineral Exploration Fund, Cosmos Exploration Limited, 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 Richard D St-Cyr. P.Geo., Exploration Director 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: [email protected]
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.
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