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Midland Exploration and Probe Gold Resume Drilling on the Copper-Gold-Silver-Molybdenum Discovery on the La Peltrie Option
MONTREAL, July 25, 2023 (GLOBE NEWSWIRE) -- Midland Exploration Inc. (“Midland”) (TSX-V: MD) is pleased to announce that drilling has resumed on the large coppe
About this update from Midland Exploration Inc.
[{"type":"text","content":" MONTREAL, July 25, 2023 (GLOBE NEWSWIRE) -- Midland Exploration Inc. (“Midland”) (TSX-V: MD) is pleased to announce that drilling has resumed on the large copper-gold-silver-molybdenum (“Cu-Au-Ag-Mo”) discovery made in 2022 on the La Peltrie Option (the “Property”) in partnership with Probe Gold Inc. (“Probe”). This significant mineralized system is located 15 kilometres southeast of Agnico Eagle’s Zone 58N gold deposit and 25 kilometres west of the former Selbaie mine, which produced 56.9 Mt grading 0.87% Cu, 1.85% Zn, 39 g/t Ag, and 0.55 g/t Au (historical production). Highlights: New drilling program consisting of eight (8) drill holes for a total of 2,700 metres Designed to determine the extent of a large mineralized system with Cu-Au-Ag-Mo over a 345.5-metre intercept grading 0.2% CuEq* in the discovery hole, which remains open along strike and at depth New regional drilling targets on geophysical anomalies (IP and VTEM) Higher-grade intervals within the mineralized envelope graded up to 0.5% Cu and 3.6 g/t Ag over 12 metres as well as 1.0% Cu and 6.4 g/t Ag over 3.7 metres Indicates potential for a highly prospective and extensive mineralized system This drilling program consists of eight (8) drill holes totalling 2,700 metres. In the immediate vicinity of the discovery hole LAP-22-012, which graded 0.2% CuEq* over 345.5 metres, five (5) drill holes totalling 1,750 metres will be completed to test new induced polarization (IP) anomalies. These new anomalies were identified in the winter of 2023, along an interpreted mineralized corridor trending northeast over a minimum of 1.4 kilometre. Historical grab samples taken in that corridor had returned up to 6.5% Cu, 1.2 g/t Au and 2.5% Cu (Source: SIGEOM Report GM55542). This mineralized corridor is defined by several surface samples showing copper-gold-silver-molybdenum mineralization and is currently the focus of additional prospecting. During this drilling program, three (3) drill holes totalling 950 metres will also be completed to the southeast, on geophysical (IP and VTEM) anomalies and on a target proximal to the Carheil Pluton. Cautionary statements * Copper equivalent (“CuEq”) values were calculated using the following metal prices: Au $1,500.00/oz, Cu $3.25/lb, Ag $15.00/oz, Mo $15.00/lb. CuEq values are used for exploration purposes only and do not include...