The program will concentrate on regional targets for several commodities and high-grade copper-gold occurrences in the Nachicapau area. In mid-June, helicopter-supported research will be started, including a magnetic survey conducted by drones and geochemical rock and soil samples.
Exploration in 2024 will build on the discoveries of high-grade copper-gold mineralized horizons, as well as many more mineralized veins discovered in 2022 and 2023. These discoveries span a 7 km2 region of Murdoch Formation pyroclastic rocks. An analysis of the collected data suggests the presence of a vast hydrothermal system spanning several kilometers.
In 2024, new surface exploration target areas were identified based on this updated interpretation, along with a re-analysis of the 2023 soil geochemical results and the newly available geophysical data.
The new B-horizon geochemical survey will cover at least 7.5 km to the south, using the same parameters as the 2023 survey and real-time XRF analysis of samples. This survey will focus on a region where the Murdoch Formation’s mafic volcanic and sedimentary rocks are imbricated by a sequence of thrust faults linked with the Robelin Fault.
A 770 km drone-based magnetic survey will be undertaken to cover the region, keeping copper-gold mineralized horizons. The goal is to refine the structural interpretation since the structure is a primary control of mineralization.
Regional Generative Area
Midland and SOQUEM will also investigate untapped regional locations that could provide economic resources within the Alliance's designated area of interest. Since 2022, consistent efforts to accumulate historical data and better analyze lithogeochemistry results have identified prospective candidates. The central part of the Labrador Trough, in particular, is being targeted for its magmatic Ni-Cu-PGE deposits.
Other potential locations will also be selected for a rock sampling campaign to follow up on 2023 results, with a focus on orogenic mineralization and the best VMS prospects (Cu-Zn-Co-Ag-Au/Zn-Pb-Cu-Ag-Au) produced as a consequence of work completed in 2021.
Quality Control
Rock and soil samples from the project are evaluated at Actlabs in Ancaster, Ontario, using ICP-MS with four-acid digestion for metals and a standard fire assay on 30-gram fractions with atomic absorption finish for gold. Qualified Persons construct exploration programs and interpret the data using a Quality Assurance/Quality Control methodology that adheres to industry best practices, such as using standards and blanks for every 20 samples.
About the Strategic Alliance with SOQUEM
The Strategic Alliance allows Midland and SOQUEM to pool their resources and expertise to explore Labrador Trough's exceptional gold and strategic mineral prospects jointly. The Alliance's area of interest is in Nunavik. Geologically, it includes the Labrador Trough, the Rachel-Laporte Zone, and the Kuujjuaq Domain. The region of interest runs from Schefferville in the south to about 100 km northwest of Kangirsuk.
The agreement asks for exploration investments of up to $5 million over a four-year period, with a solid commitment of $2 million during the first two years of the arrangement. Midland and SOQUEM entered into a joint venture agreement in March 2023 to specify the parameters of exploration and development activity on the Nachicapau property’s mining claims.
The Alliance will continue in 2024, with exploratory work resumed in the Labrador Trough and on the Nachicapau project. The joint yearly budget will be $1 million (50 % Midland, 50 % SOQUEM).