Midland and Altius Announce the Discovery of a New Nickel-Copper-Cobalt Showing in the James Bay Region Yielding up to 1.07% Ni, 0.24% Cu and 0.09% Co
MONTREAL, QUEBEC--(Marketwired - Aug 17, 2017) - Midland Exploration Inc. ("Midland") (TSX VENTURE:MD) is pleased to announce the discovery of a new nickel-copper-cobalt showing, in the context of its strategic exploration alliance with Altius Minerals Corp. ("Altius") (TSX:ALS). The mineralization consists in a meta-pyroxenite with about 15% disseminated pyrrhotite and 3% pentlandite that returned 1.07% Ni, 0.24% Cu, 0.09% Co and 4.5% S from a grab sample from outcrop (note that grab samples are selective by nature and values reported may not be representative). Another outcrop of meta-pyroxenite located about 100 metres from the first sample location also returned 0.46% Ni with a low sulfur value of 1.11% in a grab sample. The new showing is located about 12 km southeast of the Clearwater Au deposit and 25 kilometers east of Hydro-Quebec's Eastmain-1 dam.
The new nickel-copper-cobalt showing is located in an area that was previously mapped as a large, km-scale dioritic intrusion (Casey batholith). However, preliminary field observations suggest that a large part of the intrusion is in fact composed of primitive gabbros. No prior exploration work is reported in government files in the immediate vicinity of the new discovery.
Following the discovery, Midland and Altius acquired 104 new claims ("Moria" project") over the interpreted extent of the mafic intrusive rocks hosting the mineralization. Midland and Altius consider the discovery of this nickel showing to indicate strong Ni-Cu-Co potential for the area and are presently designing a follow up exploration program for the claims.
Figures showing the location of the new discovery can be consulted using the following link : http://media3.marketwire.com/docs/Figures_Communique_Moria.pdf
At the same time, Midland is very pleased to announce the nomination of Mr. Sylvain Trépanier as Vice President Exploration, James Bay and North of Quebec.
Mr. Trépanier holds a bachelor's degree in geology, a master's degree in earth science and a bachelor's degree in computer science and software engineering from UQAM. Sylvain began his career for Noranda in 1995 and worked on various projects in Quebec until 2001. From 2004 to 2012, he worked has a research geologist at CONSOREM. During his years working at CONSOREM, he has carried out numerous research projects applied to Mineral exploration and has developed expertise recognized in Quebec in various fields related to exploration: lake-bottom, streams and tills sediments geochemistry, alterations lithogeochemistry, statistical data processing and potential mineral evaluation by artificial intelligence. He is the author of several scientific articles, research reports and public presentations. He designed and developed the Lithomodeleur software for geochemistry treatment, which is now widely used in Quebec by exploration companies, governments and universities. From 2012 to 2016, he worked for Virginia Mines and Osisko Gold Royalties as Senior Research Geologist and was involved in most of the company's projects in James Bay and the Labrador Trough. He is co-recipient of the QMEA Jean-Descarreaux Award in 2011 with the CONSOREM team. Mr. Trépanier joined the Midland team in November 2016.
Quality control
Rock samples on the project are assayed by standard 30 gram fire-assaying with AA or gravimetric finish at ALS Minerals laboratories in Val d'Or, Québec or Sudbury, Ontario. All samples are also analysed for multi-elements, using four-acid ICP-AES method. Exploration program design and interpretation of results is performed by qualified persons employing a Quality Assurance/Quality Control program consistent with industry best practices, including the use of standards and blanks with every 20 samples.
About Altius
Altius directly and indirectly holds diversified royalties and streams that generate revenue from 15 operating mines. These are located in Canada and Brazil and produce copper, zinc, nickel, cobalt, iron ore, potash and thermal (electrical) and metallurgical coal. The portfolio also includes numerous pre‐development stage royalties covering a wide spectrum of mineral commodities and jurisdictions. In addition, Altius holds a large portfolio of exploration stage projects which it has generated for deal making with industry partners that results in newly created royalties and equity and minority interests.
Altius has 43,208,291 common shares issued and outstanding that are listed on Canada's Toronto Stock Exchange under the trading symbol ALS. It is a member of both the S&P/TSX Small Cap and S&P/TSX Global Mining Indices.
About Midland
Midland targets the excellent mineral potential of Quebec to make the discovery of new world-class deposits of gold, platinum group elements, base metals and rare earth elements. Midland is proud to count on reputable partners such as Altius Resources Inc., Agnico Eagle Mines Ltd., Teck Resources Ltd., IAMGold Corp., Osisko Mining Inc., SOQUEM INC., Japan Oil Gas and Metals National Corporation, 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 has been prepared by Sylvain Trepanier, P.Geo., VP Exploration for James Bay and Northern Quebec at Midland, a "qualified person" as defined by NI 43-101. For further information, please consult Midland's website.
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.
Contact
Midland Exploration Inc.
Gino Roger, President and Chief Executive Officer
450 420-5977
450 420-5978
info@midlandexploration.com
www.explorationmidland.com