Business
Midland Exploration Provides Overview of 2023 Exploration Activities With Partners and Follow-Up on New Discoveries
MONTREAL, Jan. 19, 2023 (GLOBE NEWSWIRE) -- Midland Exploration Inc. (“Midland”) (TSX-V: MD) is pleased to provide an overview of its plans for 2023 in Quebec w
About this update from Midland Exploration Inc.
[{"type":"text","content":" MONTREAL, Jan. 19, 2023 (GLOBE NEWSWIRE) -- Midland Exploration Inc. (“Midland”) (TSX-V: MD) is pleased to provide an overview of its plans for 2023 in Quebec with exploration activities aimed at following up on its new discoveries made throughout 2022. In 2023, Midland will continue to apply its business model as a “Project Generator” with the recent acquisition of several new high-quality properties and the formation of several new partnerships across Quebec, including new partnerships for lithium exploration in the James Bay region. With an exploration budget for 2023 estimated at more than $11 million and 20,000 metres of drilling planned, Midland will be very busy, working to advance several projects in partnership with major companies such as BHP Canada Inc. (“BHP”), Rio Tinto Exploration Canada Inc. (“Rio Tinto”), SOQUEM Inc. (“SOQUEM”), Probe Gold Inc. (“Probe”) and Wallbridge Mining Company Ltd (“Wallbridge”). Highlights New Cu-Au-Mo-Ag discovery (0.21% CuEq/345.5 m) with Probe on La Peltrie; High-grade gold shears (18.9 g/t Au) and floats (28.7 g/t Au) discovered on Laflamme JV; New discovery of high-grade Cu-Au under the Labrador Alliance with SOQUEM; One-year extension of the Generative Phase of our Nickel Strategic Alliance with BHP ($1.4 million) and major magnetotelluric (MT) survey recently completed; Heliborne VTEM survey conducted with Rio Tinto on our Tête Nord Ni project; Drilling in progress New option agreement with Brunswick on Mythril and Elrond for their lithium potential; La Peltrie Project (Cu-Au-Ag-Mo) – Option Agreement with Probe In December 2022, Midland, in partnership with Probe, announced the discovery of a large copper-gold-silver-molybdenum (“Cu-Au-Ag-Mo”) mineralized system on the La Peltrie property located 15 kilometres southeast of Agnico Eagle Mines Limited’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). The mineralization intersected in hole LAP-22-012 was present throughout the drill hole, defining a wider Cu-Au-Ag-Mo intercept grading 0.21% CuEq over 345.5 metres from surface, with potential to continue laterally and at depth. Midland and Probe are currently planning the next phase of work including a winter induced polarization (IP) surv...