Midland Discovers New Gold-Rich Boulders Northeast of Mythril and Continues to Intersect New Cu-Au-Mo-Ag Mineralization in Drill Hole
MONTREAL, Nov. 07, 2019 (GLOBE NEWSWIRE) — Midland Exploration Inc. (“Midland”) (TSX-V: MD) is pleased to report the discovery, by prospecting, of new gold-rich granodiorite boulders (float) in the northeast part of its Mythril project. These boulders are characterized by high gold grades (between 0.59 g/t Au and 2.83 g/t Au) combined with relatively low copper values (<0.15% Cu). This is a new type of mineralization on the project and suggests a previously unsuspected potential for gold-dominated mineralization on Mythril. New Cu-Au-Mo-Ag zones were also intersected during the phase III drilling program in the main Mythril area.
Discovery of new gold-rich boulders northeast of Mythril
During the prospecting campaign conducted in September, several new mineralized boulders and one showing were discovered in the northeast part of the Mythril claim block. The latter are located approximately 6.5 kilometres northeast of the main Mythril area and 2 kilometres north of the Cu-Au-Mo-Ag float fields discovered in August (see press release dated September 5, 2019).
The three northernmost boulders are scattered over a distance of 150 metres and are characterized by high gold grades (2.84 g/t Au; 2.83 g/t Au; 0.59 g/t Au; grab samples) combined with low copper (<0.15% Cu) and molybdenum (<0.01% Mo) values. Mineralization consists of pyrite (up to 1%), magnetite and trace chalcopyrite in a granodiorite with biotite alteration. This is the first occurrence of predominantly gold mineralization on Mythril. Areas to the north, east and west of these boulders remain unexplored.
Ten (10) new granodiorite boulders with Cu-Au-Mo-Ag mineralization were also discovered further south. These boulders yielded average grades of 0.32% Cu, 0.38 g/t Au, 0.04% Mo and 4.7 g/t Ag (grab samples). A showing with grades of 0.48% Cu, 0.93 g/t Au and 15.9 g/t Ag was also discovered in the vicinity. The boulders and the showing are also relatively gold-rich compared to other mineral occurrences on the Mythril project. These observations suggest a systematic increase in gold versus copper content to the east and north of the project. This type of multi-kilometre-scale variation is typical of large-scale hydrothermal systems.
Final results of phase III drilling on Mythril (MYT-19-027 to MYT-19-036, MYT-19-014-EXT)
Drill hole MYT-19-33 tested the depth extension, to the west, of mineralization intersected in drill holes MYT-19-006 (1.41% CuEq.* over 12.55 metres) and MYT-19-011 (2.04% CuEq.* over 9.0 metres). The drill hole intersected seven (7) higher-grade mineralized zones from 168.0 to 261.1 metres, forming an envelope grading 0.11% Cu, 0.06 g/t Au and 2.7 g/t Ag (0.19% CuEq.*) over 93.1 metres, including 0.24% Cu, 0.22 g/t Au and 10.1 g/t Ag (0.47% CuEq.*) over 21.29 metres (223.62-244.91 metres). One of these zones is particularly enriched in precious metals, with grades of 5.43% Cu, 8.78 g/t Au and 400 g/t Ag (14.52% CuEq.*) over 0.51 metre (234.69-235.2 metres). It is characterized by a quartz-bornite vein with disseminated chalcopyrite in the granodioritic country rock. Another zone also graded 1.28% Cu, 0.09 g/t Au, 0.02% Mo and 5.5 g/t Ag (1.45% CuEq.*) over 1.4 metres, from 259.7 to 261.1 metres.
Drill hole MYT-19-029 tested the western extension of mineralization encountered in drill hole MYT-19-006. The hole intersected three high-grade mineralized intervals. The most significant graded 0.91% Cu, 0.21 g/t Au, 0.01% Mo and 6.5 g/t Ag (1.14% CuEq.*) over 3.98 metres (146.69-150.67 metres), whereas the other two yielded values of 1.28% Cu, 0.21 g/t Au, 0.15% Mo and 12.4 g/t Ag (2.11% CuEq.*) over 0.53 metre (178.3-178.83 metres), and 1.18% Cu, 0.13 g/t Au, 0.05 % Mo and 6.6 g/t Ag (1.50% CuEq.*) over 0.61 metre (224.69-225.3 metres).
Drill hole MYT-19-028 tested the depth extension of mineralization intersected in drill hole MYT-19-012 (2.83% CuEq.* over 3.05 metres). It intersected a mineralized zone grading 0.56% Cu, 0.12 g/t Au and 4.1 g/t Ag (0.69% CuEq.*) over 4.1 metres (274.75-278.85 metres). This zone is included in a wider interval grading 0.17% Cu, 0.03 g/t Au and 1.1 g/t Ag (0.20% CuEq.*) over 40.25 metres (274.75-315.0 metres).
Drill hole MYT-19-032 tested the eastern extension of mineralization encountered in drill hole MYT-19-011 (2.04% CuEq.* over 9.0 metres). It intersected several mineralized intervals, including a zone grading 0.36% Cu, 0.03 g/t Au and 1.2 g/t Ag (0.41% CuEq.*) over 7.39 metres (346.61-354.0 metres). Two additional higher-grade zones yielded values of 1.20% Cu, 0.13 g/t Au, 0.07% Mo and 8.4 g/t Ag (1.62% CuEq.*) over 0.6 metre (264.36-264.96 metres), and 0.68% Cu, 0.08 g/t Au, 0.07% Mo and 2.5 g/t Ag (1.04% CuEq.*) over 0.58 metre (328.48-329.06 metres).
Drill hole MYT-19-030 tested the depth extension of mineralization intersected in drill hole MYT-19-011. Three high-grade mineralized intervals were intersected. The most significant zone graded 0.58% Cu, 0.08 g/t Au, 0.03% Mo and 4.0 g/t Ag (0.77% CuEq.*) over 3.34 metres, from 160.95 to 164.29 metres. Another zone also yielded values of 3.22% Cu, 1.70 g/t Au, 0.03% Mo and 26.2 g/t Ag (4.68% CuEq.*) over 0.5 metre (174.34-174.84 metres). These two zones are included in a wider interval grading 0.18% Cu, 0.08 g/t Au, 0.01% Mo and 1.4 g/t Ag (0.28% CuEq.*) over 23.23 metres (151.61-174.84 metres). A third zone yielded values of 0.88% Cu, 0.08 g/t Au and 6.7 g/t Ag (1.01% CuEq.*) over 1 metre (215.0-216.0 metres).
Drill hole MYT-19-035 tested the bedrock near the Arwen gold-rich boulder field (section 3500E). It intersected a mineralized zone grading 0.17% Cu, 0.04 g/t Au, 0.11% Mo and 0.2 g/t Ag (0.61% CuEq.*) over 4.28 metres (37.10-41.38 metres), including a particularly molybdenum-rich interval, which graded 0.10% Cu, 0.02 g/t Au, 0.69% Mo and 0.2 g/t Ag over 0.51 metre (40.87-41.38 metres).
Several other intervals with grades above 1% CuEq.* were intersected during the drilling campaign, as shown in the adjoining figures. Best results from drill holes MYT-19-027 to 036 and 14-EXT are summarized in the following table.
|Table 1: Best results – Drill holes MYT-19-027 to MYT-19-036 and MYT-19-014-EXT|
*Metal prices used to calculate CuEq.: Au $1,285/oz, Cu $2.77/lb, Ag $15/oz, Mo $10.9/lb. Metal recovery is assumed to be 100%. **The true thickness of reported drill intervals cannot be determined with the information currently available.
Copper mineralization at Mythril is hosted in a variably altered, foliated granodiorite intrusion. The granodiorite is cut by barren granitic pegmatite dykes and granitic dykes that host variable mineralization. Copper mineralization in the granodiorite is closely associated with decimetre- to metre-scale potassic alteration zones; visually, the latter are darker and exhibit a stronger foliation, are enriched in biotite and commonly contain magnetite.
Upcoming work on Mythril
The results of drilling conducted in 2019 on Mythril will be analyzed in detail and modelled in 3D during the coming weeks. An induced polarization survey is planned for the coming winter, to cover the northeast part of Mythril, including the gold-rich boulders announced in this press release, and the copper-rich float fields announced in the press release dated September 5, 2019. The geophysical survey and 3D modelling will be followed by another drilling campaign.
Exploration program design and interpretation of results are performed by qualified persons employing a Quality Assurance/Quality Control program consistent with industry best practices, including the use of standards and blanks with every 20 samples. Rock samples on the project are assayed for gold by standard 30-gram fire-assaying with inductively coupled plasma atomic emission spectroscopy (ICP-AES; Au-ICP21) or gravimetric finish (Au-GRA21) at ALS Minerals laboratories in Vancouver, British Columbia. All samples are also analyzed for multi-elements using the four-acid ICP–AES method (ME-ICP61), also at ALS Minerals laboratories in Vancouver, British Columbia. Samples that exceed 1% copper, zinc, molybdenum or nickel are reanalyzed by four-acid ICP-AES optimized for high grades.
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 Limited, 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 Sylvain Trépanier, P.Geo., VP Exploration James Bay and Northern Quebec 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
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.
Figures accompanying this announcement are available at