Midland Exploration plans IP survey at Malaco Mountain

Executive Summary

• Midland Exploration Inc., in partnership with SOQUEM Inc., plans to conduct a follow-up induced polarization (IP) survey and ground prospecting campaign on the Malaco Mountain project in the Labrador Trough, Quebec.
• The 15 line-kilometer IP survey is scheduled for August 2026 to generate exploration and drilling targets based on the mineralized outcrop discovered in 2025.
• The 2025 exploration program identified significant high-grade copper, gold, silver, and rare earth element (REE) mineralization in outcrops, prompting the geophysical survey to define subsurface targets.

Key Details

• Survey Plan: A pole-dipole induced polarization (IP) survey totaling 15 line kilometers (km) is planned for August 2026.
• Survey Objective: The geophysical program aims to cover the east part of the property, specifically targeting the mineralized outcrop discovered in 2025, the sedimentary mudstone unit, and the fold axis.
• Target Generation: The survey is designed to generate exploration and drilling targets based on geophysical, geological, and geochemical criteria.
• 2025 Discovery Highlights:
  • Mineralized outcrop grading up to 31.60% Copper (Cu), 6.92 g/t Gold (Au), 32.4 g/t Silver (Ag), and 1.77% Rare Earth Elements (REE).
  • In June 2025, three grab samples from an outcrop graded up to 31.60% Cu, 6.92 g/t Au, and 0.57% REE.
  • Twenty-five grab samples were collected; 18 yielded >0.1% Cu and 10 yielded >1% Cu, with grades reaching up to 27.6% Cu.
  • Gold grades ranged between 61 and 877 parts per billion (ppb) Au.
  • Local values reached 32.4 g/t Ag and 1.77% REE (La, Ce).
• Mineralization Characteristics:
  • Occurs as stratiform horizons with chalcopyrite, pyrite, malachite, azurite, and digenite disseminated parallel to bedding in mudstone.
  • Includes massive discordant veins associated with fractures and breccia zones cross-cutting stratigraphy.
  • Associated with silica, albite, and carbonate alteration.
  • Petrophysical testing on massive sulphide and disseminated chalcopyrite samples revealed strong electrical contrasts, justifying the use of induced polarization.
• Partnership Terms:
  • Midland and SOQUEM continue their alliance with a joint annual exploration budget of $1 million (50/50 split) for 2026.
  • The budget covers the Malaco Mountain and Nachicapau projects.
  • The initial 2021 agreement called for up to $4 million in exploration investments over four years.

Notable Quotes

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