Gatineau Zn JV Midland-SOQUEM
MONTREAL, June 23, 2021 (GLOBE NEWSWIRE) — Midland Exploration Inc. (“Midland”) (TSX-V: MD) is pleased to announce the commencement of a major exploration program in the Grenville, on existing properties held by Midland (50%) and SOQUEM (50%) as part of the Strategic Alliance with SOQUEM executed in February 2020.
Midland and SOQUEM control several significant zinc occurrences and prospects in the metamorphosed Middle-Proterozoic marbles of the Grenville Supergroup, in the Gatineau area. The interest for this area is that those zinc occurrences share many similarities with significant zinc deposits, also hosted in Grenville metamorphosed limestones. The most prolific zinc deposits of this type are those of the Balmat-Edwards district in the United States located only 160 kilometres south of the Gatineau-Zinc project area.
2021 Exploration Program
A major compilation and targeting effort was completed by SOQUEM during the first year, in preparation for a field exploration program about to get underway.
This exploration program, mainly consisting of soil geochemistry surveys and prospecting, will provide systematic coverage of four (4) of the seven (7) existing properties under the Strategic Alliance, located in the surroundings of the town of Maniwaki.
The four (4) properties targeted during this first phase of field work are: Bouchette, Blue Sea, Chute Rouge and Bois Francs. A total of approximately 2,700 soil samples and 150 rock samples are to be collected during the months of June to August inclusively.
Geophysical surveys and drilling are currently under evaluation and may eventually be conducted later in 2021 or in early 2022.
The Existing Properties
The Bouchette property is located east and southeast of the municipality of Messines, and 12 kilometres south of the town of Maniwaki in La Vallée-de-la-Gatineau MRC. It consists of 31 map-designated cells totalling 1,843.48 ha. The property hosts the Bouchette prospect. Hole
BO-94-03, drilled in 1994 (GM53111) had returned 3.3 % Zn over 9.6 m between 9.5 and 19.1 m.
The Leitch property is located 7 kilometres northeast of the municipality of Gracefield in the La Vallée-de-la-Gatineau MRC. It consists of 40 map-designated cells covering a surface area of 2,384.84 ha. The property encompasses the Leitch zinc prospect and the former Lafontaine zinc mine. Two channels completed on the Leitch surface showing had returned 24.1 % Zn over 3.0 metres and 32.4 % Zn over 1.8 metres (unpublished data). Another channel cut on the Lafontaine showing had returned 21.0 % Zn over 2.0 metres (unpublished data).
The Aumond property is located 3 kilometres east of the municipality of Aumond in La Vallée-de-la-Gatineau MRC. It consists of 37 map-designated cells totalling 2,191.61 ha. An historical channel had yielded 6.08 % Zn over 0.8 metre (GM56261).
The Chute-Rouge property is located 7 kilometres west of the town of Grand-Remous in La Vallée-de-la-Gatineau MRC. It consists of 50 map-designated cells covering a surface area of 2,955.45 ha.
The Blue Sea property is located 1.5 kilometres southeast of the municipality of Blue Sea in La Vallée-de-la-Gatineau MRC. It consists of 3 map-designated cells totalling 169.53 ha.
The Bois Francs property is located 2.5 kilometres north of the town of Maniwaki and borders, to the east, the Egan-Sud and Bois-Franc municipalities in La Vallée-de-la-Gatineau MRC. It consists of 71 claims covering a surface area of 4,127.67 ha.
The Zone A property is located 1.5 kilometres southeast of the municipality of Blue Sea in La Vallée-de-la-Gatineau MRC. It consists of 27 map-designated cells covering a surface area of 1,610.04 ha.
Strategic alliance in the Grenville
SOQUEM and Midland are jointly implementing a targeting approach to identify and assess the mineral resource potential and to acquire mining rights covering the best targets for base metals.
Projects acquired under the target generation program will be declared “Designated Projects” once the mining rights have been acquired. Each Designated Project will be the object of a distinct joint venture agreement, the terms of which will be similar to the joint venture agreements to be signed relating to the active properties.
A management committee composed of four members, two nominated by each party, manages activities conducted under the target generation program for the duration of the agreement. The parties are not subject to budgetary obligations under the target generation program. The budget is defined by the management committee. The target generation program will last for a period of 2 years, unless it is extended by mutual written consent of both parties.
SOQUEM is the project manager under the target generation program and for all joint ventures formed on Designated Projects; Midland may assign up to 30% of personnel.
Note that the true thickness of reported historical drill intervals and channel samples cannot be determined with the information currently available.
SOQUEM, a subsidiary of Investissement Québec, is dedicated to promoting the exploration, discovery and development of mining properties in Quebec. SOQUEM also contributes to maintaining strong local economies. A proud partner and ambassador for the development of Quebec’s mineral wealth, SOQUEM relies on innovation, research and strategic minerals to be well-positioned for the future
Midland targets the excellent mineral potential of Quebec to make the discovery of new world-class deposits of gold, platinum group elements and base metals. Midland is proud to count on reputable partners such as SOQUEM INC., BHP Billiton Canada Inc., Agnico Eagle Mines Limited, O3 Mining, 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 Company 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, who also approved the technical content of this press release.
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
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.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/97ae07c9-f303-4330-a62c-676ddf09628c