-- Posted Thursday, 4 August 2011 | | Disqus
MONTREAL, QUEBEC--(Marketwire -08/04/11)- Midland Exploration Inc. ("Midland")(TSX-V: MD, MIDLF.PK) is pleased to announce the commencement of an extensive helicopter-borne VTEM-type electromagnetic survey on its Casault Gold Property, located about 40 kilometres east of Detour Lake, along the major Sunday Lake Deformation Zone. The major Detour Lake ore deposit hosts an aggregate 16.45 million ounces of gold in measured and indicated resources based on a cut-off grade of 0.5 g/t Au, including 14.86 million ounces of gold in near-surface mineral reserves, and commercial production is expected to begin in early 2013 (Source: NI 43-101 report by BBA for Detour Gold dated March 15, 2011).
The new VTEM survey, totalling about 400 line kilometres, is mainly designed to detect new gold- bearing mineralized zones across this extensive property which has seen very little exploration to date. This type of survey is known for its exceptional depth penetration and provides a more accurate definition of targets than conventional systems. Recent successes obtained with this type of survey on Midland's Laflamme Property, in partnership with North American Palladium Limited, further confirm the powerful effectiveness of this system, able to detect anomalies and mineralized zones that remained undetected by other means, in areas with thick overburden (see press release dated June 15, 2011). At Detour Lake, discovery of the main zone (Detour Anomaly 38) is directly attributed to the presence of an airborne electromagnetic anomaly detected during an Input survey in 1974.
Last March, Midland completed a helicopter-borne magnetic survey totalling 1,300 line kilometres, to clarify the geological and structural framework of the Casault Property (see press release dated March 16, 2011). A detailed structural interpretation based on this magnetic survey identified several new exploration targets characterized by structural complexities, many of which are located along the western extension of a structure previously drill-tested by Queenston, who reported historical drill results up to 4.3 g/t Au over 12.2 metres (Source: MRNF SIGEOM NTS sheets 32E14 and 32E15). The new structural interpretation also resulted in the identification of an ENE-trending structure located less than 5 kilometres along the western extension of gold-bearing zones drilled by Balmoral Resources Ltd on its Martiniere property. These drill holes intersected 2.4 g/t Au over 72.0 metres, including a high-grade interval at 11.18 g/t Au over 12.0 metres (Source: Balmoral Resources Ltd press release dated March 2, 2011).
The Casault Property is located about 140 kilometres north of the town of La Sarre in Quebec. It now consists of 280 wholly-owned claims for a total surface area of about 156 square kilometres. The property covers a strategic land position of more than 25 kilometres strike length along the major Sunday Lake Deformation Zone, known for its very strong potential to host significant gold deposits.
Maps showing Midland's strategic land holdings and the location of the VTEM survey may be consulted using the following links:
For Figure 1 - Map of the Abitibi showing the location of the Casault project, click here: http://media3.marketwire.com/docs/RegionalCasault1.pdf
For Figure 2 - Regional map showing the location of the VTEM survey on Casault, click here: http://media3.marketwire.com/docs/VTEM2.pdf
About Midland Exploration
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 Agnico-Eagle Mines Limited, Osisko Mining Corporation, Aurizon Mines Limited, North American Palladium Limited, Japan Oil, Gas and Metals National Corporation, Zincore Metals Inc. and SOQUEM Inc. Midland prefers to work in partnership and intends to quickly conclude additional agreements in regard to newly acquired properties. Midland is currently evaluating new opportunities and other projects in order to increase the portfolio of the Company.
This press release was prepared by Mario Masson, VP Midland Exploration and Qualified Person as defined by NI 43-101.
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.
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.
Contacts:
Gino Roger, President and Chief Executive Officer
450 420-5977
450 420-5978 (FAX)
info@midlandexploration.com
www.midlandexploration.com
-- Posted Thursday, 4 August 2011 | Digg This Article
| Source: GoldSeek.com
