MONTREAL, Sept. 22, 2022 (GLOBE NEWSWIRE) -- Midland Exploration Inc. (“Midland”) (TSX-V: MD) solidified its land position on its Mythril and Mythril Regional Cu-Mo-Au-Ag projects (wholly owned by Midland) located in Eeyou Istchee James Bay, Quebec and is evaluating their lithium potential. Midland discovered the copper-gold mineral system Mythril by prospecting in late 2018 and concluded a strategic investment with BHP Billiton Canada Inc. (“BHP”) in the spring of 2019 totalling $5.85 million for copper exploration in Quebec.
The Eeyou Istchee James Bay region is undergoing an exploration rush targeting lithium-bearing pegmatites. Mythril and Mythril Regional projects are strategically located 1.6 to 4.5 km north of the hard rock spodumene lithium-bearing pegmatite discoveries at Corvette reported by Patriot Battery Metals Inc. (“Patriot”) in their August 31, 2022 news release. It mentions mineralized lithium-bearing drilling intervals including 1.65% Li2O and 193 ppm Ta2O5 over 159.7 metres from drill hole CV22-042.
The Mythril and Mythril Regional projects consist of a total of 1,534 map designated claims covering up to 778 square kilometres and spread amongst 8 claim blocks located to the north and south of Patriot’s pegmatite field. A total of 47 map designated claims were added recently to the Mythril project main block, which are partially neighbour to Patriot’s current claims. These projects, which originally targeted Cu-Mo-Au-Ag mineralization, are currently being also evaluated for lithium-bearing pegmatite mineralization which could potentially add value to their current metallogeny.
Global demand for lithium is rising caused by the demands of the Electric vehicle industry and current unstable geopolitical situation. The wholly owned Mythril and Mythril Regional projects offer opportunities to potentially contribute to this increase demand.
Mineralization occurring at the Corvette project owned by Patriot is not necessarily indicative of mineralization that may be identified on the Mythril, and Mythril Regional properties owned by Midland.
Midland targets the excellent mineral potential of Quebec to make the discovery of new world-class deposits of gold, platinum group elements and base metals. Midland is proud to count on reputable partners such as BHP Canada Inc., Rio Tinto Exploration Canada Inc., Probe Metals Inc., Wallbridge Mining Company Ltd, Agnico Eagle Mines Limited, Osisko Development 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 Corporation portfolio and generate shareholder value.
This press release was reviewed and approved by Mario Masson. P.Geo., VP Exploration for Midland and Qualified Person as defined by NI 43-101, who also approved the technical content of this press release.
For further information, please consult Midland’s website or contact:
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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