SOQUEM, a subsidiary of Investissement Québec, is dedicated to promoting the exploration, discovery and development of mining properties in Quebec
Midland Exploration Inc. (“Midland”) (TSX-V: MD), in partnership with SOQUEM Inc. (“SOQUEM”), is pleased to announce new results from its 2023 exploration campaign in Nunavik. Exploration efforts mainly focused on the high-grade Cu-Au-Ag mineralized system discovered in the summer of 2022 in the Nachicapau Lake area, which graded up to 25.6% Cu, 4.90 g/t Au and 162 g/t Ag (29.97% CuEq.*) (see press release by Midland dated October 4, 2022). These new results are reported under the Strategic Alliance between Midland and SOQUEM (the “Alliance”) in the Labrador Trough in Nunavik, Quebec.
A geochemistry sampling campaign was conducted in the late summer of 2023, during which a total of 227 rock samples and 1,018 soil samples (B horizon) were collected on the Nachicapau property. Real-time XRF analysis of soil samples led to the identification of anomalous areas and the discovery of 6 new mineralized veins at surface. These veins, mainly composed of calcite and clinochlore, are injected in rocks of the Murdoch Formation and host copper mineralization with digenite, bornite and malachite. On outcrops, best results associated with these veins are 13.8% Cu and 1.71% Cu. They are located respectively 1.4 km and 2.6 km south of Cu-Au horizons discovered in 2022. The best copper grade reaching up to 20.4% Cu is associated with a vein mineralized with malachite and bornite in a plurimetric boulder. Gold grades reaching up to 3.98 g/t Au are occasionally associated with these veins and confirm the gold potential of the area. Field observations also led to the identification of a new deformation zone located 500 metres east of the Cu-Au horizons discovered in 2022. This discontinuity is also defined by geochemical and geophysical data; it affects lithological units of the Murdoch Formation and may have played a role in the emplacement of mineral occurrences.
These results, combined with the series of discoveries made in 2022, highlight this area as a prime exploration target in the Labrador Trough. Exploration work in 2024 will focus on improving the geological and structural understanding of this mineralized system, namely by conducting a magnetic drone survey. Exploration will continue southward to determine the extent of the system. The B-horizon geochemistry survey with real-time XRF analysis, which yielded excellent results in 2023, will also be continued in 2024 by extending the survey to the south and detailing specific areas of interest. This surface program is planned in preparation for a drilling program pending positive results.
Rock samples from the project are analyzed at Actlabs laboratories in Ancaster, Ontario, using different analytical methods for various elements, either neutron activation on 30-gram fractions, or ICP-MS with four-acid digestion. Exploration programs are designed, and results are interpreted by Qualified Persons employing a Quality Assurance/Quality Control program consistent with industry best practices, including the use of standards and blanks for every 20 samples.
The Strategic Alliance enables Midland and SOQUEM to combine their efforts and expertise to jointly explore the excellent potential for gold and strategic minerals of the vast and underexplored Labrador Trough. The area of interest defined under the Alliance is located in Nunavik. Geologically, it covers the Labrador Trough, the Rachel-Laporte Zone and the Kuujjuaq Domain. The area of interest extends from Schefferville in the south up to approximately 100 km northwest of Kangirsuk. This agreement calls for investments in exploration reaching up to $5 million over a period of four (4) years, with a firm commitment of $2 million within the first two (2) years of the agreement. For 2024, a joint annual budget of $1 million (50% Midland and 50% SOQUEM) has been planned to complete the work program.
Source: Company Press Release