Midland Expands Its Land Position for Gold in James Bay With the New Caniapisc Au Project
In This Article:
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MONTREAL, April 09, 2024 (GLOBE NEWSWIRE) -- Midland Exploration Inc. (“Midland”) (TSX-V: MD), is pleased to announce the expansion of its gold project portfolio with the recent acquisition, by map designation, of the Caniapisc Au project in the Eeyou Istchee James Bay and Caniapiscau regions. The Caniapisc Au project is wholly owned by Midland and consists of 94 claims covering an area of 47 square kilometres.
Highlights:
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Recent acquisition by map designation of the Caniapisc Au project;
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Historical unexplained gold anomalies in till samples with up to 41 pristine and 66 modified gold grains;
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Reconnaissance exploration program planned for summer 2024.
The Caniapisc Au project is positioned south of the Caniapiscau Reservoir and geologically located within the Ashuanipi subprovince, a less known and explored portion of the Archean Superior Province. The project is more specifically located in the Raynouard Complex, characterized by a 50 kilometre-long volcanosedimentary belt comprising bimodal volcanic sequences, metasediments and iron formations. In the Superior Province, bimodal (basalts and rhyolites) volcanic sequences and iron formations are respectively recognized in general for their potential in base metals (Cu-Zn-Ag-Au) and gold. Moreover, the Raynouard Complex is less metamorphosed and thus better preserved than other areas of the Ashuanipi subprovince, which is favourable for mineral exploration (better preservation of potential deposits).
Historical exploration work, to the south of the Caniapisc Au project, highlights the potential of the Raynouard Complex with the presence of volcanogenic Cu-Zn-Ag-Au and porphyric Cu-Au-Ag-Mo mineralizations. Historical showings to the south include: Eagle Showing with selected grab samples returning up to 0.76% Cu, 8.94% Zn, 14.3 g/t Ag, 0.73 g/t Au, and up to 3.78 g/t Au over 1.0 metres in channel sampling; Peacock Showing returned 1.7 g/t Au over 7.0 metres in channel sampling; and the Falcon Showing with selected grab samples returning up to 8.6% Cu, 3.8 g/t Au. 49.6 g/t Ag, 1.3% Mo, and up to 3.0% Cu, 4.4 g/t Au, 20.1 g/t Ag over 1.0 metres in drilling sampling.
The Caniapisc Au project is strategically located north of these showings where a historical 2014 till sampling survey identified gold anomalies. Three (3) till samples, located on the project, returned up to 41 pristine, 66 modified, and 9 remodeled gold grains, which to our current knowledge have not been followed up extensively. The concentration of pristine and modified gold grains combined with the observation that most of the pebbles present these tills are mostly of volcanic and sedimentary origin could indicate a proximal source up-ice. These till gold counts are considered to be highly anomalous. For example, the anomaly threshold for gold grains in tills from the gold-rich Timmins area in the Abitibi is only 5 grains (McClenaghan, 2001). This statistic is derived from samples processed using the same method and laboratory as the ones reported here.