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In 2024, Midland continued 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. With a 2025 exploration budget of more than $14.5M ($2.5M Midland - $12.0M Partners), and nearly 15,000 metres of drilling, 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. ("RTEC”), Barrick Gold Corporation ("Barrick”), Agnico Eagle Mines Limited ("Agnico Eagle”), SOQUEM Inc. ("SOQUEM”), Probe Gold Inc. ("Probe”), and Wallbridge Mining Company Ltd. ("Wallbridge”).
Highlights:
- Till sonic drilling program currently active with Barrick on the Patris project;
- Exploration and drilling program, following the MMI soil anomalies identified, are in discussion with Probe on the La Peltrie project;
- Further drilling planned with RTEC on the Galinée lithium project;
- Exploration program to follow up on new gold showings planned on the Caniapisc Au project;
- Exploration program to follow up on new Cu-Au showings planned on the Saruman project;
- Exploration and geophysical programs for Cu-Ni planned with BHP, in Nunavik;
- Exploration program planned over the high-grade Cu-Au showings on the Nachicapau project in partnership with SOQUEM.
Patris Project - 100% Midland, in an option agreement with Barrick
The Patris project is located less than 10 kilometres northwest of the prolific Doyon/Westwood-Bousquet-La Ronde gold mining camp, and covers the Manneville Fault over more than 8 kilometres and the La Pause Fault over more than 10 kilometres, both recognized as subsidiary faults to the well-known Destor-Porcupine Fault Zone. In 2024, 90 sonic drilling holes totalizing 2,075.4 metres were completed on public lands to characterize geochemical dispersion trains in the glacial till overlain by lacustrine clays (see press release by Midland dated July 9, 2024). A consistent till layer has been documented all over the surveyed area, and results are in the final steps of interpretations.
In 2025, a sonic drilling campaign is currently active to complete the till survey on private lands along the La Pause Fault and also in the Manneville sedimentary basin to the northeast of the project where a fluvial basin sharing similarities with Timiskaming basins has been mapped in 2024. Summer, mapping and prospecting will be conducted in 2025 to follow up on historical works and results from the till survey.
La Peltrie Project - 50% Midland, in joint venture with Probe
The La Peltrie project is located 15 kilometres southeast of Agnico Eagle's Zone 58N gold deposit and approximately 25 kilometres west of the former Selbaie mine. The 2022 copper-gold-silver-molybdenum ("Cu-Au-Ag-Mo”) mineralization intersected in drill hole LAP-22-012 was extended in 2023 to 0.13% Cu (0.20% CuEq*) over 513.50 metres, core length (see press release by Midland dated January 22, 2024). Another dill hole, LAP-23-18, approximately 150 metres east of the drill hole LAP-22-12, intersected a Cu-Au-Mo-Ag mineralized interval grading 0.11% Cu (0.15% CuEq*) over 363.00 metres, including a higher-grade zone with grades of 1.18% Cu (1.33% CuEq*) over 9.50 metres. In 2024, a MMI soil sampling program totalizing 768 samples was completed at the spacing of 50-100 metres and along lines separated at 200-400 metres. The grid covers in part the Cu-Au-Ag-Mo drilling area and extends northward to the southern contact with the Carheil intrusion (see press release by Midland dated December 10, 2024).
The soil sampling program successfully identified the main Cu-Au-Ag-Mo and also suggests extension towards the west. Anomalous MMI values to the north and northeast show a good correlation with existing Cu values in isolated prospecting samples collected in 2020 and 2023. Several of these anomalous areas also correlate with the best IP anomalies from the survey conducted March 2024 and have yet to be drill-tested. Moreover, SRK Consulting performed a structural analysis of the high-resolution aeromagnetic survey conducted in 2020. The objective of this structural analysis of the project is to improve the structural and geological understanding of the copper mineralized zone.
The structural interpretation, MMI survey, drilling and IP survey will be used to identify highly prospective areas associated with Cu-Au-Ag-Mo mineralization for an upcoming drilling program that is currently in preparation.
Casault Project - 100% Midland, in an option agreement with Wallbridge
In 2023, Wallbridge completed a high-resolution magnetic survey on select areas over the western portion of the property, as well as a till sampling program (Sonic drilling) in the eastern part of the property. A gold-in-till anomaly was identified in hole CSS-23-018 with up to 112 gold grains, wherein 97 are described as pristine, suggesting relative proximity to their original bedrock source. This anomaly is associated with a magnetic low that extends along an interpreted northwest-trending subsidiary fault splay extending from the regional scale Sunday Lake Deformation Zone ('SLDZ') (see press release by Midland dated September 24, 2024). The SLDZ is the primary fault system that serves as the underlying control to gold mineralization along the Detour-Fenelon gold trend, which hosts the Detour Lake mine owned by Agnico Eagle, and Wallbridge's Martiniere and Fenelon deposits.
During 2024, Wallbridge completed a new regional scale structural interpretation and targeting analysis, which coupled with field reconnaissance mapping and sampling identified more than fifteen (15) new exploration targets along the SLDZ as it extends across the Casault project. These new targets, some of which are located near a northwesterly trending structure that returned 6.85 g/t over 2 meters in hole CAS-21-123 discovered 8 km northeast of the Vortex gold target, add to a growing pipeline of prospective target opportunities that merit further investigation. In September 2024, Wallbridge tested two of the new targets with a first pass diamond drilling program comprising 5 holes totalling 1,211 meters. Drilling at both targets intercepted multiple zones of fault and shear-related deformation accompanied by localized quartz veining, sulphide mineralization and related alteration, geologic characteristics that can be favourable for hosting gold mineralization.
Maritime-Cadillac - 49% Midland, in joint venture with Agnico Eagle
The Maritime-Cadillac project is located along the Cadillac Break and east of the former Lapa mine. A drone high resolution magnetic survey is planned to cover the project in 2025.
Gold, Copper-Gold and Lithium Projects (Au, Cu-Au, Li); James Bay
Galinée Project - 100% Midland, in an option agreement with RTEC
The Galinée project is located approximately 5 kilometres due east of the Adina deposit (consolidated mineral resources of 61.4 Mt at 1.14% Li2O Indicated and 16.5 Mt at 1.19% Li2O Inferred, see press release by Winsome dated May 28, 2024) held by Winsome. This deposit is located at the contact between amphibolites of the Trieste Formation to the south and felsic intrusives to the north and is marked by a major structure that likely controlled the emplacement of pegmatites at Adina. The same highly favourable contact zone is present on the property over more than 7 kilometres, and the Iceberg lithium showing was discovered along this zone (see press release by Midland dated September 19, 2023).
The 2024 drilling program on Galinée consisted of twenty-one (21) diamond drill holes and seven (7) reverse circulation ("RC”) drill holes totalling 6,284.86 metres, out of which 819.92 metres were reverse circulation drilling. The objectives were to test the 2023 Iceberg Showing area with diamond drilling while using reverse circulation drilling to test conceptual, prospecting and geophysical targets. The drilling campaign mainly focused on the Iceberg showing and also the White Stripes, Surge, Snow Fox and White Lightning showings (see press release by Midland dated October 24, 2024). Surface geological mapping combined with drilling has identified a series of at least seven (7), meter to decameter-scale, spodumene pegmatite bodies. Drill results from holes TLIB0014, TLIB0018, TLIB0022, TLIB0023, and TLIB0026 suggest extension of the Iceberg showing to the east, while hole TLIB0020 furthermore suggests extensions towards the west. The highlight result thus far returned core length interval composites of 1.38% Li2O over 37.86 metres, including 1.88% Li2O over 21.35 metres, in hole TLIB0007. Hole TLIB0026 returned 1.03% Li2O over 32.87 metres and hole TLIB0018 returned up to 1.46% Li2O over 27.34 metres (see press release by Midland dated December 19, 2024).
Correlations in sections suggest that the spodumene pegmatite bodies dip shallowly, typically less than 30 degrees, and are often observed as stacked sets in the drill holes - the drilling commonly intersected multiple mineralized pegmatite bodies with variable thickness. Preliminary structural studies based on field observations and oriented drill core suggest that the pegmatites could have sigmoidal geometries. Mineralogical studies show that the major lithium phase at Iceberg is spodumene with minor muscovite and cookeite alteration. Minor petalite is present, and holmquistite is often present in the amphibolitic country rock adjacent to pegmatites. The spodumene pegmatite bodies remain open along strike and to depth, and more drilling will be necessary to more precisely determine their geometry and extension.
Drilling is planned to resume in March 2025, with a first phase budget 3.59M USD approved for a combination of diamond and RC drilling. Early metallurgical tests are also being evaluated on select core sections using LIBS scanning to identify and quantitatively determine grain size and the lithium mineralogy.
Corvette, Chisaayuu, Mythril East, Wookie, Komo, Shire, Picard, Warp and Sulu Projects - 100% Midland, in option agreement with RTEC
The Corvette, Chisaayuu and Mythril East projects are located northeast and southeast of the Corvette deposit held by Patriot Battery Metals Inc. (consolidated mineral resources of 80.1 Mt at 1.44% Li2O Indicated and 62.5 Mt at 1.31% Li2O Inferred, see press release by Patriot Battery Metals Inc. dated August 5, 2024). The Wookie and Komo project are located about 40 kilometres north-northwest and 20 kilometres west of Arcadium's Galaxy deposit (mineral resources of 54.3 Mt at 1.30% Li2O Indicated and 55.9 Mt at 1.29% Li2O Inferred, see press release by Allkem Limited, dated August 11, 2023). The Shire project is located within amphibolites of the Lac des Montagnes geological Group, which hosts the Whabouchi lithium deposit about 60 kilometres southwest of Shire.
Lithium anomalies in lake-bottom sediments had been identified on Chisaayuu, Corvette, Shire, Picard, Warp and Sulu projects, following a regional statistical treatment of more than 23,000 analyses and completed by Midland (see press release by Midland dated March 6, 2023). In 2024, a prospecting campaign for lithium on Wookie successfully identified a new lithium occurrence. The Grogu Showing is identified on a claim cell located between the two main blocks of the Wookie project and consists of a relatively steeply dipping 600 metres long by 1-32 meters wide pegmatite body containing local spodumene. Channel sampling was conducted to better understand the grade and its distribution. On the Shire Project, preliminary prospecting and geological mapping located an approximately 1,000 x 350 metres size pegmatite locally containing what appears to be an altered spodumene pod. Lithium-bearing phases have yet to be identified (see press release by Midland dated October 24, 2024).
Further prospecting and mapping work for lithium mineralization is currently in discussion for these projects.
Caniapisc Au - 100% Midland
The Caniapisc Au project lies south of the Caniapiscau Reservoir and is geologically located within the Ashuanipi Subprovince, a lesser-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, metasedimentary rocks and iron formations. 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 porphyry Cu-Au-Ag-Mo mineralization. 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 within the perimeter of 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.
Within a radius of a few hundred metres up-ice from the historical anomalous tills, prospecting work successfully identified boulder fields (with angular boulders locally) and outcrops. Out of a total of 55 grab samples collected during this campaign, 47 are proximal to the historical gold anomalous tills. Of these 47 samples, fifteen (15) yielded anomalous gold values ranging from 0.10 to 0.75 g/t Au, from a total of 31 samples with gold values above 0.02 g/t Au. The remaining samples, seven (7) of which yielded results between 0.20 and 0.60 g/t Au, are located 1 to 2 kilometres further north. Mineralized host rocks are mainly sedimentary in origin, followed by mafic volcanic rocks and intrusives (with possible porphyritic textures locally). The mineralization mainly consists of pyrite associated with pervasive silica alteration (see press release by Midland dated November 14, 2024).
A 2025 exploration program is currently in preparation and planned for the summer.
Saruman - 100% Midland
The Saruman project is in the Opatica geological Subprovince. Specifically, it is located in the Theodat Complex, an assemblage of undifferentiated tonalitic gneisses and gneissic tonalites, which covers vast expanses within the region and which remains poorly known. According to MRNF data, no previous exploration is reported within the project area.
This project was created following the publication, by the MRNF, of strong copper anomalies in a high-density lake sediment geochemistry survey in November 2023. These strong copper anomalies in lake sediments are particularly concentrated within an area of five (5) by three (3) kilometres, which contains fifteen (15) anomalous samples (>95th percentile). A single day of reconnaissance work by Midland teams in 2024 resulted in anomalous Cu-Au-Mo-Ag values on outcrop, reaching 0.32% Cu, 0.35 g/t Au, 0.39% Mo, and 13.8 g/t Ag (in selected grab samples). These occurrences consist of disseminated, veinlet and fracture-filling chalcopyrite, pyrite and molybdenite, and are observed in tonalites (see press release by Midland dated October 30, 2024).
The mineralization identified to date appears insufficient to explain the extent and scope of the lake sediment copper anomalies described above. These observations suggest a Cu-Au-Mo-Ag system may be present on the property. Additional prospecting and geological mapping are planned for 2025 to collect additional information.
Lasalle Project - 100% Midland
While exploring for lithium, a mafic mineralized boulder that returned 42.4 g/t Au was found. A follow-up field visit is currently being planned for 2025.
Copper-Nickel, Copper-Gold and Gold Projects (Cu-Ni, Cu-Au, Au); Nunavik and Labrador Trough
Nunavik Nickel Project - Strategic Alliance with BHP
The Strategic Alliance with BHP is located in Nunavik, Québec. The 2024 exploration program focused along a major crustal-scale structure, and its subsidiaries, identified by the 2022 regional MT survey and also refined by the 2023 regional airborne Z-Tipper axis electromagnetic survey ("ZTEM”). These previously poorly recognized structures are potentially favourable for copper-nickel mineralization and were followed up with a 1,383-sample lake sediment survey in 2023. Prospecting programs in 2022-2023 focused along these structures successfully identified the Target 22 showing which returned up to 0.81% Ni, 0.22% Cu, and 0.19% Co on selected grab samples. The Soisson Intrusive Suite was also extended up to 10 kilometres with local identification of mineralized outcrops (see press release by Midland dated July 3, 2024). The 2024 prospecting campaign identified four (4) unmapped Soisson intrusives and mineralization on one of them. Selected grab samples returned up to 0.4% Ni and 0.3% Cu and suggest Ni/Cu ratios of about 1.5, which is similar and/or superior to the ratio obtained on other Soissons intrusions in the area.
Due to bad northern weather, the planned 2024 regional helicopter-borne Time Domain Electromagnetic survey ("HELITEM”) was postponed to 2025. A prospecting campaign is also planned for the summer of 2025.
Nachicapau Project - Strategic Alliance with SOQUEM
The Nachicapau project is located in the Labrador Trough, Nunavik, in the Nachicapau Lake area. The 2024 exploration efforts were focused on the Cu-Au-Ag mineralized zone discovered in 2022 and 2023, which graded up to 25.6% Cu, 4.90 g/t Au and 162 g/t Ag on selected grab samples (see press release by Midland dated October 4, 2022). Digenite-bornite-malachite mineralization hosted in calcite-clinochlore veins also returned up to 13.80% Cu and 1.71% Cu on outcrops, and up to 20.40% Cu in boulders (see press release by Midland dated December 7, 2023). In 2024, further prospecting revealed new digenite, bornite, and malachite mineralized pods reaching several centimetres in size and vein hosted. Best grades include 39.90% Cu, 308.00 g/t Ag and 0.04 g/t Au, and 15.40% Cu, 84.70 g/t Ag and 1.51 g/t Au. These veins are injected in rocks of the Murdoch Formation and also contain calcite, dolomite, clinochlore and specularite. They range from a few centimetres to several decimetres in thickness, with a lateral extent of a few metres. Their distribution in the main zone extends up to 3.7 km to the southeast of Cu-Au-Ag horizons discovered in 2022. Additional mineralized veins grading up to 5.22% Cu, 13.8 g/t Ag and 0.65 g/t Au were also identified in a new area located 10 km southeast of the main zone. Very little exploration work has been conducted between the two 2024 areas. The density and distribution of these veins over several kilometres could suggest the presence of a regional-scale hydrothermal system. A drone magnetic survey totalling 768.2 km was carried out in 2024 to cover the main showing zone and showings identified between 2022 and 2024. Interpretation of this survey is ongoing and will refine our structural understanding of the area (see press release by Midland dated August 22, 2024).
The bulk of the data collected during the campaigns are being processed and will be used to define the strategy for 2025. Numerous surface targets remain unexplored on the property, namely the 10 km interval separating the two areas where digenite-bornite-malachite-bearing veins were found. Surface exploration will therefore continue in this area and southward, to determine the extent of copper-gold-silver mineralization. Exploration work in 2025 will also focus on defining drilling targets to assess potential at depth.
Willbob - 100% Midland
The Willbob project is located about 70 kilometres west and southwest of Kuujuaq. In 2024, a follow-up prospecting campaign was completed in the Canyon Lake area of the project, where gold showings such as Canyon-1 (up to 31.5 g/t Au), Canyon-2 (up to 23.5 g/t Au) and Canyon-3 (up to 6.85 g/t Au) were uncovered previously in selected grab samples (see press release by Midland dated August 22, 2019). The 2024 campaign identified several gold anomalies, up to 39.5 g/t Au on selected grab samples at Canyon-3, which currently spread over along a 787-metre zone (see press release by Midland dated August 1, 2024).
A follow-up prospecting program is planned in 2025 in the Canyon Lake area of the project.
Cautionary statements
Grab samples are selective by nature and reported values are not necessarily indicative of mineralized zones. The true thickness of reported channel or drilling intervals cannot be determined with the information currently available; intervals are thus reported in channel and/or core length.
Mineralization occurring at deposits and former mines mentioned in this press release is not necessarily indicative of mineralization that may be intersected on projects held by Midland described in this press release.
Copper equivalent ("CuEq*”) values herein 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 estimations of metallurgical recovery.
About Midland
Midland targets the excellent mineral potential of Quebec to make the discovery of new world-class deposits of gold and critical metals. Midland is proud to count on reputable partners such as BHP Canada Inc., Rio Tinto Exploration Canada Inc., Barrick Gold Corporation, Wallbridge Mining Company Ltd, Probe Gold Inc., Agnico Eagle Mines Limited, Electric Element Mining Corp., SOQUEM INC., Nunavik Mineral Exploration Fund, 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.
Qualified Person and Chief Geologist Jean-François Larivière, P. Geo, Ph. D, prepared this press release and verified the projects data as Midland's qualified person (QP) within the meaning of National Instrument 43-101.
For further information, please consult Midland's website or contact:
Gino Roger, President, and Chief Executive Officer
Tel.: 450 420-5977
Fax: 450 420-5978
Email: [email protected]
Website: www.midlandexploration.com
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.
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