-- Posted Tuesday, 15 November 2011 | | Disqus
MONTREAL, QUEBEC--(Marketwire -11/15/11)- Midland Exploration Inc. ("Midland") (TSX-V: MD.V, MIDLF.PK) is pleased to report that an helicopter-borne electromagnetic ("VTEM") survey has recently been completed on its Casault Property and has led to the identification of several new anomalies never before detected by previous airborne geophysical surveys (Input). Therefore these new VTEM anomalies represent high-priority targets in search for new gold-bearing zones on the Casault Property. This property with strong gold potential covers more than 25 kilometres strike length along the extension of the Sunday Lake Deformation Zone. This major deformation zone hosts the giant Detour Lake gold deposit in Ontario, about 40 kilometres west of Casault, which contains 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 where commercial production is expected to begin in early 2013 (Source: NI 43-101 report by BBA for Detour Gold dated March 15, 2011).
This new VTEM survey, totalling about 400 line kilometres, was flown in September 2011 and was designed to detect new gold-bearing mineralized zones. The VTEM system is known for its exceptional depth penetration and provides a more accurate definition of conductive zones than conventional airborne systems. At Detour Lake, the original discovery of the main zone is directly attributed to the presence of an airborne electromagnetic anomaly (Detour 38 anomaly) detected during an Input survey in 1974. Preliminary results from Midland's VTEM survey indicate the presence of at least ten new high-priority drilling targets, that have never been tested before and that are in many cases, strategically located along the direct extensions of known gold-bearing structures in the vicinity. Also, many of these targets are locally directly associated with induced polarization anomalies and with structurally complex zones interpreted based on the helicopter-borne magnetic survey carried out by Midland in the spring of 2011.
On the Casault Property, at least three types of exploration targets were identified: the first type of target is associated with mafic rocks proximal to the Sunday Lake Deformation Zone (Detour Lake-type target), the second type of target is associated with major shear zones with pyrite-pyrrhotite mineralization and iron carbonate-sericite-silica alteration, whereas the third type is related to strongly mineralized sheared mafic intrusions similar to gold-bearing zones occurring on the Martiniere property held by Balmoral Resources Ltd ("Balmoral") less than 5 kilometres east of the Casault Property. Recent drilling by Balmoral 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 284 claims, wholly owned by Midland, for a total surface area of about 157 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.
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 North American Palladium Limited, Agnico-Eagle Mines Limited, Osisko Mining Corporation, Aurizon Mines 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 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.
-- Posted Tuesday, 15 November 2011 | Digg This Article
| Source: GoldSeek.com
