MONTREAL, QUEBEC -- Midland Exploration Inc. ("Midland") (TSX VENTURE:MD) is pleased to report the recent completion of a prospection and soil sampling survey on its 100% owned Éléonore Centre property. Prospecting has outlined a number of highly prospective mineralized outcrops. The Éléonore Centre property is located respectively 30 kilometres southwest from and in a geological environment similar to Goldcorp Inc.'s Éléonore deposit. This world-class gold deposit contains 3.15 million ounces of measured and indicated gold resources at an average grade of 11.92 grams per tonne, and 6.25 million ounces of inferred gold resources at an average grade of 12.93 grams per tonne (Source: Goldcorp press release February 17, 2010). The Éléonore deposit has been traced by drilling over a strike length of 1,900 metres and a depth of 1,300 metres, and remains open in all directions. Prospecting conducted by Midland in 2009 and 2010 on the Éléonore Centre property highlighted the presence of several gold showings with values up to 13.60 g/t Au on selected grab samples. An AeroTEM II geophysical survey was also conducted on the northern part of the property in 2010 and targeted sulfide bearing Éléonore-type sediments. Several EM anomalies still remain untested and unexplained.
The recent prospecting and soil sampling exploration program, realized at the end of summer 2011, were conducted over an unworked area of the Éléonore-Centre property. A total of 272 soil samples were collected over an area of 7 square kilometres in the middle-eastern part of the property. In parallel, a total of 140 rock grab samples were collected during the prospection campaign. Assay results are pending. The exploration program led to the discovery of several new mineralized zones such as an altered mafic metavolcanic unit containing sulfide stringers which was recognized at several locations on the property. Mineralization was also encountered in nearby conglomerates and is associated with sulfide stringers and silicification alteration.
A series of parallel northeast trending AeroTEM II conductors were outlined by the 2010 geophysical survey. Some of these conductors coincide with uncovered gold-bearing disseminated to semi-massive sulfides zones, identified by Midland in 2009 and located in the northern part of the property, which returned values up to 13.60 g/t Au. Midland is very encouraged by these new results as they enhance the potential that its James Bay properties could lead towards significant new gold discoveries.
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 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 Gino Roger, registered engineer and Qualified Person as defined by NI 43-101. For further information, please consult Midland's website or contact:
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.
