Midland Commences an Exploration Field Program on Its James Bay Gold Project
Near Goldcorp's Eleonore Deposit
MONTREAL, QUEBEC -- (Marketwired) -- 08/13/14 -- Midland
Exploration Inc. ("Midland") (TSX VENTURE: MD) is pleased to report
the beginning of an exploration program and the staking of additional
map designated claims for its 100% owned James Bay Eleonore Gold
project located in James Bay, Quebec. A total of 80 claims, covering
44 square kilometres, were added on the Eleonore Centre property
which extends the property about 8 kilometres to the south. The
exploration program will mainly include prospection work along
favourable auriferous trends recently identified on the Eleonore
The Eleonore project, which encompasses the Eleonore Centre and West
properties, is constituted of a total of 327 claims covering 172
square kilometres, and is located approximately 30 kilometres
southwest from and in a geological environment similar to Goldcorp
Inc.'s Eleonore deposit. This world-class gold deposit contains
reserves of 4.03 Moz Au (proven and probable categories), combined
measured and indicated resources of 4.84 Moz Au and inferred
resources estimated at 4.10 Moz Au. (Source: Goldcorp press release
dated February 13, 2014).
Prospecting conducted by Midland from 2009 to 2013 on the Eleonore
Centre property identified the presence of several gold showings
associated with quartz-tourmaline pyrite bearing veinlets occurring
in sheared metasediments, as well as mafic and felsic metavolcanics
which returned up to 18.8 g/t Au. These results strongly suggest that
an auriferous hydrothermal system is present on the property by a
strong abundance of quartz-tourmaline veins over a plurimetric area.
In addition, the 2013 ground induced polarisation ("IP") survey
identified many north-south trending IP anomalies and several remain
unexplained. The 2011 soil geochemistry survey permitted to delineate
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 and several EM
anomalies still remain unexplained.
Interpretation of the high definition airborne magnetic survey
covering the Eleonore Centre property, completed at the beginning of
2014, confirms the presence of an important north-south oriented
structure associated with several gold showings uncovered by Midland.
This structure is considered highly favourable for gold
mineralization. Thus, the 80 new claims were added to the Eleonore
Centre property over the southern extension of this structure.
The exploration programs principally targets the important
north-south trending structure, which is associated with many gold
showings uncovered in the last years by Midland. Contacts between
magnetic domains, again associated with gold mineralization,
identified by Midland will also be prospected during this campaign
over unexplored portions of the property.
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 Teck Resources Limited,
Agnico-Eagle Mines Limited, Donner Metals Ltd., 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
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 or contact:
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.
Gino Roger, President and Chief Executive Officer
450 420-5978 (FAX)
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