Midland Exploration and Breakwater Resources Ltd Advance Regional Targets on the Gatineau Zinc Project
Thu Apr 10, 9:00 AM
ca.news.finance.yahoo.com
MONTREAL, QUEBEC--(Marketwire - April 10, 2008) - Midland Exploration Inc. ("Midland") (TSX VENTURE: MD.V) is pleased to announce the results of its recent exploration program on its wholly-owned Gatineau Zinc Project. Midland's important zinc portfolio includes many properties at different stages of exploration in the Gatineau Area. Depending on target merits, Midland's exploration program includes stream sediments, soil and rock sampling and two pilot tests with combined airborne magnetic and electromagnetic helicopterborne surveys (VTEM). Midland's strategy is to find new Sedex zinc/lead mineral occurrences and to better characterise the known zinc deposits.
The reconnaissance soil sampling program was designed to identify new zinc/lead mineralized systems in the Gatineau Area. Historically soil sampling has been a proven method for finding new zinc occurrences. The surveyed areas were selected either on the basis of historical known zinc occurrences or unexplained regional stream sediment anomalies. A total of 1,588 soils samples were collected over the Wallace, Venosta, Kazabazua, St-Germain, Kilmar, Ski, Davis and Leitch claim blocks. An examination of the assay results has identified several first-order strong zinc and lead anomalies on Leitch, Wallace, Ski and St-Germain lake properties.
On the Leitch property, the two best soil anomalies returned with 8,430 ppm zinc, 526 ppm lead and 1,470 ppm zinc and 52 ppm lead respectively. In the vicinity of these two strong soil anomalies which are few kilometres apart, there are no presently known zinc occurrences. The third and fourth best soil geochemical anomalies from the survey come from the Wallace Lake Property with 707 ppm zinc, 61 ppm lead and 619 ppm zinc, 76 ppm lead respectively. These two strong anomalies combined with other first-order multi-element anomalies outlined several, hundreds of meter long, northeast-trending corridors on the Wallace Lake Property. Midland is pleased with these results as it has shown that reconnaissance soil sampling following up stream sediment anomalies remains an effective method to find new targets potentially associated with zinc mineralized occurrences. Reconnaissance geological field checks with subsequent trenching is planned to verify the soil anomalies.
A total of 301 stream sediment samples were collected in the fall of 2007 by GeoSciences, a geotechnical firm from Val-d'Or, Quebec. The stream sediment sampling program was designed to investigate first-order multi-element unexplained regional stream sediment anomalies (with values as high as 7820 ppm zinc and 4900 ppm lead) and some selected prospective areas underlain by Middle-Proterozoic marbles. Results were very interesting with several first-order zinc, lead and copper anomalies (two standard deviations above the mean) on the north and east side of the Mont-Laurier metasedimentary belt. Several of these new target areas will be either evaluated by reconnaissance soil sampling and/or prospecting.
More recently, the Midland exploration program has also included two pilot tests with combining magnetic and electromagnetic helicopter-borne surveys (VTEM) to characterize known zinc mineral occurrences in the Maniwaki-Gracefield area. Zinc-enriched iron sulphide-bearing massive sulphide mineralization is characteristic of the known mineralized Middle-Proterozoic marbles in the Gatineau Area, including Lafontaine, Parker and Leitch deposits. Recently computer-processed VTEM results indicate that the combined magnetic and electromagnetic surveys can trace anomalies over several hundred metres which seem to be associated with known massive sulphide mineralization. Several new conductors were also outlined stratigraphically along strike with known occurrences or laterally as potential structural duplication. Additional infill VTEM surveying combined with reconnaissance field checks and subsequent trenching and/or diamond drilling are planned to demonstrate the effectiveness of the VTEM airborne survey. If conclusive, this highly sensitive and deep-penetrating electromagnetic system may become a cost-effective method to evaluate the numerous zinc mineralized systems present in the Gatineau Area on which so far the traditional methods have failed.
Results from the grab samples taken in the fall of 2007 while prospecting historical soil zinc anomalies and in the vicinity of known mineral occurrences on the Kilmar project have been received. The best grabs returned 16.7%, 8.7%, 6.2% and 5.8% for zinc. Other results ranged between 0.49% and 2.9% zinc. The samples all came from sulphide-bearing dolomitic marble units. Airborne or ground geophysical survey is being considered to better define these mineralized systems.
Quality Assurance/Quality Control
Mr. Robert Banville, Engineer, a Qualified Person as defined by NI 43-101 supervised the Gatineau exploration program. Assays were performed by ALS Chemex in Val-d'Or, Quebec which has a strict internal QA/QC program which includes mineralized standards, blanks and duplicate samples.
Midland's large land position, including 19 new properties, covers 347.6 km2 distributed in the Gatineau Area. The area is known to host many significant zinc occurrences and prospects in metamorphosed Middle-Proterozoic marbles of the Grenville Supergroup. The interest for this area is that those zinc occurrences share many similarities with significant zinc deposits which are also hosted in Grenville metamorphosed limestones. The most prolific zinc deposits of this type are those of the Balmat-Edwards district in the United States, located only 60 kilometres south of the Gatineau properties area. This active mining district, in production since 1915, is known to host a combined 43 million tonnes at near 10% zinc including other commodities.
Breakwater Resources Ltd. ("Breakwater") has the option to acquire 50% of Midland's interest by funding $4,500,000 in exploration expenditures and by making payments totalling $250,000 over 4 years. Midland will be the operator until the completion of a positive pre-feasibility study. Upon acquiring a 50% interest, Breakwater will have the option to acquire an additional 15% interest by delivering a bankable feasibility and by paying to Midland $40,000 per year and by having minimum work expenditures on the property of $200,000 per year until the delivery of the feasibility study.
About Breakwater
Breakwater is a mineral resource company engaged in the acquisition, exploration, development and mining of base metal and precious metal deposits in the Americas. Breakwater has four producing zinc mines: the El Mochito mine in Honduras; the El Toqui mine in Chile; the Myra Falls mine in British Columbia, Canada and the Langlois mine in north-western Quebec, Canada. Breakwater is listed on the TSX under the ticker BWR.
About Midland
Midland targets the excellent mineral potential and the favourable climate of investment of Quebec to make the discovery of new world class deposits of gold, base metals and uranium.. Midland is proud to count on famous partners such as Agnico-Eagle Mines Ltd, Breakwater Resources Ltd, Soquem Inc. and Quest Uranium Corporation. The Company quickly executed its business plan during the second half of the year 2007 by signing four important agreements adding up to nearly $16,000,000 in work and payments of up to $1,000,000 over four years. Midland is currently evaluating other opportunities and other projects in order to increase the portfolio of the Company. Midland prefers to work in partnership and intends to conclude quickly additional agreements in regard to lately acquired properties.
Gino Roger, P.Eng., is the qualified person who has reviewed the content of this news 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. Midland undertakes no obligation to publicly release the result of any revision of these forward-looking statements to reflect events or circumstances after the date they are made or to reflect the occurrence of unanticipated events.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Contacts
Gino Roger
Midland Exploration Inc
President and Chief Executive Officer
450-420-5977
450-420-5978 (FAX)
gino.roger@explorationmidland.com
www.explorationmidland.com |
