CORRECTION: Midland Adds Several Gold Showings to Its Portfolio With the Acquisition of Its New Valmond Property Correction to the release sent this morning at 8:30 AM EDT. The ticker symbol should have read 'MD' instead of 'MEX'. The corrected versi
Correction to the release sent this morning at 8:30 AM EDT. The ticker symbol should have read 'MD' instead of 'MEX'. The corrected version follows
MONTREAL, QUEBEC -- (Marketwire) -- 09/08/11 -- Midland Exploration Inc. ('Midland') (TSX VENTURE: MD) is pleased to announce the acquisition by map designation of a new property with strong gold potential, which hosts, over more than 10 kilometres strike length, several gold showings with historical drill intercepts. The Valmond Property is located about 50 kilometres west of Matagami and consists of 76 map-designated cells covering a surface area of about 42 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: North American Palladium Ltd press release dated July 12, 2011), are respectively located about 8 kilometres south and 30 kilometres southeast of the Valmond Property. Further west, the former Selbaie mine, with a historical production of 47.3 million tonnes grading 1.92% Zn, 0.98% Cu, 40.6 g/t Ag, and 0.6 g/t Au, is located about 35 kilometres from the property.
Based on a regional compilation of previous work in this area, Midland acquired two strategic blocks that host several historical gold occurrences for which the strike extensions have seen very little drill-testing. These showings occur over a strike length of more than 10 kilometres, near a NW-SE-trending regional ductile structure interpreted as the potential southeast extension of the major Massicotte deformation zone. On Valmond, this NW-SE structure lies between the major Sunday Lake and Casa Berardi deformation zones. The geological setting in this area is characterized by an assemblage of mafic rocks, dacitic tuffs, wackes and conglomerates of the Taibi Group.
A summary of the best gold values obtained in historical drill holes is provided in the table below (Source: MRNF SIGEOM NTS sheets 32E09 and 32E16).
-- 1.16 g/t Au over 10.60 metres, including 2.3 g/t Au over 4.57 metres
-- 6.66 g/t Au over 1.52 metres
-- 5.22 g/t Au over 1.55 metres
-- 3.77 g/t Au over 1.50 metres
-- 2.31 g/t Au over 1.20 metres
-- 2.03 g/t Au over 1.60 metres
Previous exploration work in the Valmond area has defined numerous gold, arsenic, and base metal anomalies in basal tills, as well as many geophysical lineaments, including electromagnetic and induced polarization anomalies, which have yet to be tested.
Maps showing Midland's new Valmond Property may be consulted using the following links:
For Figure 1 - Map of the Abitibi showing the location of the Valmond project, click here: http://media3.marketwire.com/docs/ValmondFig1.pdf
For Figure 2 - Geological map of the Valmond property showing the location of the main gold occurrences, click here: http://media3.marketwire.com/docs/ValmodFig2.pdf
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, Zincore Metals Inc. 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.
Contacts:
Gino Roger, President and Chief Executive Officer
450-420-5977
450-420-5978 (FAX)
info@midlandexploration.com
www.midlandexploration.com