Midland Defines Several New Drilling Targets Along the Casa Berardi Fault Following its VTEM Survey
October 22, 2013 (Source: Marketwired) — Midland Exploration Inc. (“Midland”) (TSX VENTURE:MD) is pleased to report that several new drilling targets have been defined on its Jouvex gold property following a helicopter-borne electromagnetic (“VTEM”) survey. The Jouvex property comprises 272 claims covering a surface area of approximately 143 square kilometres along the Casa Berardi-Douay-Cameron gold-bearing deformation zone. The Jouvex property is wholly owned by Midland and is located about 50 kilometres west of Matagami in the Abitibi region of Quebec.
Due to its greater depth penetration in settings characterized by conductive clay-rich overburden, the VTEM survey totalling approximately 700 kilometres successfully defined several conductors that were previously undetected by historical airborne electromagnetic surveys. Many of these new conductors are located along the extensions of gold occurrences. Moreover, the new VTEM magnetic survey provided a better definition of the complex magnetic signature of this property, which encompasses several iron formation horizons.
In addition, two induced polarization (“IP”) grids were completed during the summer of 2013, along the extension of a historical gold showing where a silicate iron formation horizon grading 6.2 g/t Au over 1.52 metre was intersected in drill hole. These IP surveys identified and clearly defined chargeability anomalies associated with resistivity lows (conductors). The latter are locally anomalously strong and may potentially be caused by massive mineralization occurring along broad formational conductors, thus defining new drilling targets in the immediate extensions of gold occurrences.
This new property with strong gold potential covers, over more than 10 kilometres, a prominent regional flexure along the Casa Berardi-Douay-Cameron deformation zone. This major structure hosts the Casa Berardi mine, located about 65 kilometres further west, and the Douay and Douay West deposits about 7 kilometres to the southeast. The Douay gold deposits contain 2.8 million ounces of gold in inferred resources and 238,433 ounces of gold in measured and indicated resources (Source: Aurvista Gold Corporation website).
Maps showing the location of new drilling targets on Midland’s Jouvex property may be consulted using the following link: http://media3.marketwire.com/docs/Figures_Jouvex_VTEM_Oct%202013.pdf.
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Midland targets the excellent mineral potential of Quebec to make the discovery of new world-class deposits of gold, PGE, base metals and rare earth elements. Midland is proud to count on reputable partners such as Teck Resources Limited, Agnico Eagle Mines Limited, Osisko Mining Corporation, Maudore Minerals Limited, 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 Mario Masson, VP Midland Exploration and Qualified Person as defined by NI 43-101. For further information, please consult Midland’s 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
Raj Shah has professional experience working for over a half a dozen years at financial firms such as Merrill Lynch and First Allied Securities Inc., ... <Read more about Raj Shah>