-- Posted Tuesday, 27 March 2012 | | Disqus
MONTREAL, QUEBEC--(Marketwire -03/27/12)- Midland Exploration Inc. ("Midland") (TSX-V: MD.V, MIDLF.PK) is pleased to announce the acquisition by map designation of a new property with strong gold potential, located along the Casa Berardi-Douay-Cameron deformation zone. The wholly-owned Jouvex Property is located about 50 kilometres southwest of Matagami and consists of 122 map-designated cells covering a surface area of about 68 square kilometres in the Abitibi region of Quebec. The Douay gold deposit, which hosts 1.885 million gold ounces in inferred resources and 265,000 gold ounces in indicated and measured resources (Source: NI 43-101 Report; S.E.M. Vior Inc. website) and the Vezza gold deposit, where indicated and measured resources are estimated at 320,900 gold ounces, with 102,100 gold ounces in inferred resources (Source: press release by North American Palladium Ltd dated July 12, 2011), are respectively located about 7 kilometres southeast and 30 kilometres east of the Jouvex Property.
This new property with strong gold potential covers a 6-km-long segment of the Casa Berardi-Douay-Cameron deformation zone, which hosts gold-bearing zones in the Douay and Douay West areas. The property also covers the contacts over more than 10 kilometres of an intense regional magnetic anomaly comparable in intensity to the anomaly occurring in the vicinity of the Casa Berardi mine located about 65 kilometres west of Jouvex.
The Jouvex Property straddles the contact between sedimentary rocks of the Taibi Group (wackes, mudrocks and iron formations) and mafic to felsic volcanic rocks of the Cartwright Hills Group, over a strike length of 6 kilometres. Only a few historical drill holes were carried out previously on the Jouvex Property.(Source: Sigeom MRNF NTS sheet 32E09).
Regional Map showing Midland's new Jouvex Property may be consulted using the following link:
For Figure 1 - Map of the Abitibi showing the location of the Jouvex project, click here: http://media3.marketwire.com/docs/MD0327.pdf
About Midland
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 Mario Masson, VP Exploration at Midland 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, 27 March 2012 | Digg This Article
| Source: GoldSeek.com
