Posted in | Gold | Mining Business

Midland Exploration Begins Exploration Program on Heva Gold Property

Midland Exploration Inc. is pleased to report the commencement of an exploration program involving trenching and a drilling campaign on its Heva gold property in partnership with IAMGOLD Corporation.

This property is currently wholly owned by Midland and is located near the prolific Cadillac Break, about 5 kilometres northwest of the Canadian Malartic gold mine, jointly held by Agnico Eagle Mines Limited and Yamana Gold Inc., where, as at December 31, 2016, proven reserves were estimated at 51.12 million tonnes grading 0.95 g/t Au (1.57 Moz Au) and probable reserves at 152.55 million tonnes grading 1.13 g/t Au (5.53 Moz Au), for a total of 7.1 Moz Au (see press release by Agnico Eagle dated February 15, 2017, for the 100% joint venture). The Heva project consists of two claim blocks, Heva West and Heva East, totalling 34 claims and covering a surface area of more than 1,400 hectares.

Over the past few months, IAMGOLD conducted prospecting work and detailed mapping of 2016 trenches, and produced a structural reinterpretation of the entire property using geophysical inversion modelling of historical induced polarization data and 3D modelling of aeromagnetic data.

As a result of this work, a number of new high-priority exploration targets were defined along the extensions of the best gold occurrences identified in 2015 and 2016. These showings namely include a channel sample that graded 24.1 g/t Au over 0.50 metre (see press release by Midland dated September 14, 2016) (note that true thicknesses are unknown and cannot be determined at this time with the information available). In addition, a grab sample collected approximately 5 metres west of the channel sample yielded a grade of 38.5 g/t Au. Further trenching and prospecting work carried out in the fall of 2016 led to the discovery of several new high-grade gold showings, with grab samples yielding gold values of 41.0 g/t Au and 9.2 g/t Au (East area), as well as 13.9 g/t Au and 8.0 g/t Au (Central area) (see press release by Midland dated December 20, 2016) (note that gold values from grab samples may not be representative of the mineralized zones).

These new high-priority targets will be tested with a stripping program including up to seven (7) trenches, as well as a diamond drilling campaign consisting of four (4) to six (6) drill holes totalling between 1,200 and 1,500 metres. Stripping and trenching is slated for the end of October, whereas the drilling campaign is scheduled for November and December.

Maps showing the location of the Heva property , as well as the main stripping and drilling target area, may be consulted using the following link: Click here


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