Midland Exploration Inc.
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MONTREAL, Feb. 22, 2023 (GLOBE NEWSWIRE) — Midland Exploration Inc. (“Midland’ or the “Corporation”) (TSX-V: MD) is pleased to announce the acquisition by map designation of 100% interest in an important strategic land position for its gold and lithium potential in southern Abitibi, Quebec. This new acquisition adjacent to the east of Midland’s Patris gold property, consists of 133 claims (74 square kilometres) and is located approximately 60 kilometres northwest of the town of Val-d’Or.
This land position covers more than 25 kilometres of turbiditic sediments of the Lac Caste Formation, immediately to the south of the Manneville-North Fault, which is a subsidiary of the prolific gold-bearing Destor-Porcupine Break. These turbidites are intruded by dioritic dyke swarms, as well as the western edge of the La Motte Batholith. To the south, Lac Caste sediments are in contact with ultramafic rocks of the La Motte-Vassan Formation, where a major deformation zone (Manneville-South Fault) can be traced over more than 10 kilometres.
These new claims are also located approximately 15 kilometres west of the Authier lithium deposit, and approximately 45 kilometres west of the LAN lithium deposit, both held by Sayona Mining Limited (“Sayona”). The LAN deposit hosts measured and indicated mineral resources (NI 43-101) of 73,675,000 tonnes grading 1.05% Li2O and inferred resources of 28,246,000 tonnes grading 1.08% Li2O. The Authier deposit hosts measured and indicated mineral resources (NI 43-101) of 14,140,000 tonnes grading 1.01% Li2O and inferred mineral resources of 2,996,000 tonnes grading 1.00% Li2O. (Source: Sayona press release dated March 1, 2022; Please refer to Table 1 for mineral resources details).
Midland’s new strategic position covers, over more than 10 kilometres, the La Motte-Vassan Formation consisting of mafic and ultramafic rocks, which hosts lithium pegmatites at the Authier deposit. These new claims also cover the west and north edges of the La Motte Batholith. The latter, along with the La Corne Batholith, both composed of granodioritic and monzonitic phases, occupy a central position relative to the main lithium occurrences known in this area north of Val-d’Or.
Midland is currently planning a high-resolution magnetic survey in order to map in greater detail subtle magnetic features as well as any structures that could crosscut the ultramafic rocks and host spodumene-bearing pegmatite intrusions.
Cautionary statement
Mineralization occurring at the LAN and Authier deposits held by Sayona is not necessarily indicative of mineralization that may be found on the Patris project held by Midland described in this press release.
| LAN Mineral Resources – Open Pit (Cut-off 0.6 % Li2O ) | Tonnes | Li2O % |
| Measured | 1,471,000 | 0.99 |
| Indicated | 52,806,000 | 1.01 |
| Inferred | 13,874,000 | 0.96 |
| LAN Mineral Resources – Underground (Cut-off 0.8 % Li2O ) | Tonnes | Li2O % |
| Indicated | 19,3980,00 | 1.18 |
| Inferred | 14,372,000 | 1.19 |
| LAN Mineral Resources – Total (NI 43-101) | Tonnes | Li2O % |
| Measured + Indicated | 73,675,000 | 1.05 |
| Inferred | 28,246,000 | 1.08 |
| Authier Mineral Resources – Open Pit ( Cut-off 0.55 % Li2O ) | Tonnes | Li2O % |
| Measured | 6,042,000 | 0.98 |
| Indicated | 8,098,000 | 1.03 |
| Inferred | 2,996,000 | 1.00 |
| Authier Mineral Resources – Total (NI 43-101) | Tonnes | Li2O % |
| Measured + Indicated | 14,140,000 | 1.01 |
| Inferred | 2,996,000 | 1.00 |
| LAN + Authier Total Mineral Resources (NI 43-101) | Tonnes | Li2O % |
| Measured + Indicated | 87,815,000 | 1.05 |
| Inferred | 31,242,000 | 1.07 |
Table 1: NI 43-101 Mineral Resources on Sayona’s LAN and Authier Projects. Note: Mineral resource calculation for the LAN deposit was supervised by Mr. Todd McCraken, a full time employee of BBA Inc. Mineral resource calculation for the Authier deposit was supervised by Mr. Maxime Dupéré, a full time employee of SGS Canada Inc.
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 BHP Canada Inc., Rio Tinto Exploration Canada Inc., Wallbridge Mining Company Ltd, Probe Gold Inc., Agnico Eagle Mines Limited, Osisko Development Corp., SOQUEM Inc., Brunswick Exploration 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 Corporation portfolio and generate shareholder value.
This press release was prepared by Mario Masson. P.Geo., VP Exploration for Midland and Qualified Person as defined by NI 43-101.
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: info@midlandexploration.com
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.
Figures accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/284bede7-4241-4de9-90ac-443b7a90b185
https://www.globenewswire.com/NewsRoom/AttachmentNg/22d2f4fb-83fa-4d4d-9d18-0ca48d4615a0
https://www.globenewswire.com/NewsRoom/AttachmentNg/c7e55778-8e7a-44bf-9c59-7e4655196ada
