Murgor Resources Inc.

Published : June 18th, 2008

ANNOUNCES A SIGNIFICANT SIZE

( 0 vote, 0/5 ) Print article
  Article Comments Comment this article Rating Follow Company  
0
Send
0
comment

Murgor

MURGOR ANNOUNCES A SIGNIFICANT SIZE INCREASE OF THE WIM COPPER-GOLD DEPOSIT IN MANITOBA

 

        .    Current 43-101 compliant estimate: 2.06 million metric tons @ 1.92% Copper, 1.65 g/t Gold
        .    Additional new potential: 1.0 to 2.5 million metric tons(1) at 1.9 to 2.3% Copper & 1.7 to 2.1 g/t Gold
        .    Deposit still open at depth and to the west
        .    Deposit in close proximity to infrastructure and HudBay concentrator
        .    New NI 43-101 compliant resource estimate of the Wim deposit planned for later this summer



Montreal, Quebec, June 18, 2008.  Murgor Resources Inc. (MGR: TSX-V) today announced that new drill results have identified extensions to the mineralized lens that significantly increase the size of the Wim copper-gold deposit near Snow Lake, Manitoba.

On January 24th, 2008 and April 1st, 2008, Murgor revealed that its diamond drilling program had extended the outline of the massive sulphide lens of the Wim deposit by approximately 300 metres up-dip and more than 150 metres on strike.  The new assay results from 28 of the drill holes that define the new extensions have substantially increased the potential copper-gold resource at Wim.

The new extensions of the mineralized sulphide lens have increased the potential of the Wim deposit by:

         Million metric Tons             Copper Grade        Zinc Grade        Gold Grade        Silver Grade
                1.0 - 2.5                            1.9 - 2.3%           0.3 - 0.4%        1.7 - 2.1 g/t            7 - 8 g/t


 "This is great news for Murgor.  Should these extensions be substantiated by a new 43-101 compliant resource estimate, it would represent a substantial increase from the initial 43-101 compliant inferred resource of 2.06 million metric tons at a grade of 1.92% copper and 1.65 g/t gold at Wim", said Andr� C. Tessier, President and CEO of Murgor Resources "As planned, Murgor has fast tracked this project and submitted the data to Golder Associates, an arms-length consultant, for a new 43-101 compliant resource estimate that will take into account this additional potential resource. The deposit sits only 16 kilometres from HudBay's operating mill in Snow Lake, and within five kilometres of a new Manitoba Hydro power line. The proximity of this infrastructure has a very favourable impact on the potential economics of the Wim project."

The mineralization at Wim consists of massive to semi-massive pyrite and pyrrhotite with chalcopyrite and local sphalerite.   The sulphide mineralization is coarse grained and typical of the Snow Lake mining district where mineralization has historically provided excellent concentrator recoveries.  Metallurgical work on the Wim mineralization is now underway to confirm recovery rates.

The Wim deposit consists of a single sulphide lens with a strike length of 725 metres and extending from surface to a vertical depth of 720 metres.  The mineralized lens is very tabular, with an average true thickness of 5.0 metres, and copper-gold grades that are quite consistent.  The deposit is largely open at depth and to the northwest (down-plunge). Additional drilling in these areas may reveal new extensions to the known mineralization.  

The potential of the new extensions of the lens is based on twenty-nine (29) holes, drilled at approximately 60 metres spacing.  The assays and specific gravity measurements were composited across hangingwall to footwall contacts and weighted composites were determined.  Drill collars were surveyed by an independent registered land surveyor and down the hole deviation measurements were made during drilling to ensure proper location of the boreholes.

Three dimensional wireframes were created, capturing the mineralized composites, using Gemcom software.  Considering the simple tabular geometry of the sulphide lens and its consistent copper and gold grades, the conceptual estimate was calculated by polygonal method, on a vertical longitudinal section that was projected from the wireframe model, using true horizontal widths of the mineralized intercept.  The conceptual estimate includes only horizontal widths greater than two (2) metres and excludes copper, zinc, gold and silver values outside the interpreted sulphide lens.  The estimate also excludes dilution and recovery. 

A longitudinal section of the Wim deposit and all assay results from 2007-2008, will be attached to this press release on the Murgor website at
www.murgor.com.  The longitudinal section will also show the portion of the deposit with NI 43-101 compliant inferred resource and the portion which includes the currently described conceptual resource.

About the Wim deposit:

In March of 2007, Murgor completed a NI 43-101 compliant resource estimate at Wim. The estimation increased the resource by nearly 10% for copper and more than 40% for gold, relative to the historical resource..  A new NI 43-101 resource estimate is planned for the summer of 2008.  The current 43-101 Inferred resource at Wim (shown below), does not include the new extensions defined by Murgor in 2007-08 and described herein (please see SEDAR for the full report of the existing 43-101 compliant estimate):
   


   CUT-OFF             TONNAGE                            GRADE                                                               CONTAINED METAL
    GRADE*           (Metric Tons)         Cu          Zn           Au            Ag                  Cu (lbs)           Zn (lbs)          Au (oz)        Ag (oz)                    


2% Cu Equiv**       2,062,000        1.92%    0.26%   1.65 g/t    5.58 g/t         87,333,000     11,943,000      110,000       370,000              


*Copper equivalent grade. **Copper equivalencies based on the following price of metals: Copper (Cu) = USD$1.10 per pound, Zinc (Zn) = USD$0.60 per pound, Gold (Au) = USD$475.00 per troy ounce, and Silver (Ag) = USD$6.00 per troy ounce.

In 2007 and 2008, Murgor completed over 61 drill holes totaling 18,271 metres to better define the mineralized lens and to explore the Wim property.

The Wim property covers approximately 28 square kilometres, located 16 kilometres north of the Town of Snow Lake where HudBay Minerals currently operates a mill for its Chisel North Mine.  The part of the property optioned from HudBay, covers approximately 12 square kilometres but Murgor also holds a 100% interest in nine claims (not part of the HudBay option) covering the strike extensions of the Wim deposit with an additional area of 16 square kilometres.

Murgor is earning a 100% interest in the Wim property, optioned from HudBay Minerals Inc. (HBM: TSX) in September of 2006, along with the Hudvam, Wim, Abbott Lake and Tyr deposits. HudBay has the right to buyback up to 65% of the Wim property.

About Murgor Resources Inc.:

Murgor Resources Inc.
is a mineral exploration company with a focus on copper, gold and zinc exploration in Canada. In late 2006, Murgor signed six agreements with HudBay Minerals, acquiring the right to earn a 100% interest in three deposits with a total NI 43-101 Inferred resource of:  8,666,000 tons of mineralization, containing 143,150,000 pounds of copper, 430,251,000 pounds of zinc, 221,000 ounces of gold and 2,526,000 ounces of silver.  Murgor has also acquired from HudBay Minerals, a 50% interest in two highly prospective grassroots properties, covering more than 1,850 square kilometres adjacent to the Snow Lake and Flin Flon mining districts. The exploration target for Murgor consists of deposits in one of the most prolific greenstone belts in Canada and the world.  Murgor also benefits from its association with HudBay Minerals, one of Canada's most successful mining companies.

Murgor's Exploration Procedures:

Exploration core drilled by Murgor is NQ sized whereas historical drill core was a combination of AX, BQ and NQ size.  Historical drill core was logged and sampled by geologists employed by HudBay Minerals' subsidiary, Hudson Bay Exploration and Development Company Limited (HBED). 
Murgor drill core was logged and sampled by its own geologists with P.Geo qualifications or under the supervision of a P.Geo qualified geologist.  Mineralized sections of the core were marked for sampling and assaying by qualified geologists.  The marked core samples and intervals were cut in half with a diamond saw and one half of the core was placed in plastic sample bags and tagged with unique sample numbers.  The sample bags were then sent for assaying and specific gravity measurement whereas the remaining half of the core was carefully replaced into the core box and is kept in storage by Murgor.

Chemical analyses and specific gravity measurements were performed by TSL Laboratories in Saskatoon using industry-recognized methodology.  Base metals were analyzed through atomic absorption spectrometry after a multi acid digestion whereas gold was analyzed by fire assay Atomic Absorption using a 30g charge, with gravimetric finish for assays greater than 3 g/t.  Sampling and analytical procedures are subject to a comprehensive Quality Assurance and Quality Control program that includes the use of assay sample standards, blanks, duplicate and repeat samples.

The data herein and the content of this press release have been verified by Neil W. Richardson P.Geo. and Dr. Jean-Philippe Desrochers, P.Geo. respectively Manager of Exploration and Vice-President of Exploration for Murgor Resources Inc. both Qualified Persons, as defined by National Instrument 43-101.  Andre C. Tessier, P.Geo. (On), P.Eng. (Qc) and President CEO of Murgor Resources is the Qualified Person responsible for this news release.


(1)  The estimated potential quantities and grades reported herein for the extensions of the Wim deposit are conceptual in nature since they have been calculated internally and are therefore not compliant to National Instrument 43-101.  The basis upon which the disclosed potential quantities and grades have been determined is however, provided in this news release.  There has been insufficient exploration to define the full mineral resource of the Wim deposit so far and it is uncertain if further exploration will result in additional resources being delineated at the Wim deposit other than the existing 43-101 compliant inferred resource on part of the deposit, as stated in this press release.

                FOR MORE INFORMATION PLEASE VISIT MURGOR'S WEBSITE AT WWW.MURGOR.COM OR CONTACT:


                                Andr� C. Tessier, President & CEO                  Michael Joyner, Investor Relations
                                MURGOR RESOURCES INC.                            THE EQUICOM GROUP
                                Tel: (613) 546-7503 or 1-888-891-3330          Tel: (416) 815-1700 or 1-800-385-5451 ext 275
                                 Fax:  (613) 546-7318                                           Fax: (416) 815-0080
                                E-mail: info@murgor.com                                   E-mail: mjoyner@equicomgroup.com

This news release includes certain "forward-looking statements". All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding potential mineralization, resources and reserves, exploration results, and future plans and objectives of Murgor, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Murgor's expectations are exploration risks detailed herein and from time to time in the filings made by Murgor with securities regulators.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this press release.

http://www.murgor.com/modules/AxialRealisation/img_repository/files/images/nouvelles/2008-06-18/08_06_18%20WIM%20LONG%20SECT%20EN.jpg

http://www.murgor.com/modules/AxialRealisation/img_repository/files/images/nouvelles/2008-06-18/08_06_18%20Wim%20Best%20Results%20table_EN_Page_1.jpg
http://www.murgor.com/modules/AxialRealisation/img_repository/files/images/nouvelles/2008-06-18/08_06_18%20Wim%20Best%20Results%20table_EN_Page_2.jpg
http://www.murgor.com/modules/AxialRealisation/img_repository/files/images/nouvelles/2008-06-18/08_06_18%20Wim%20Best%20Results%20table_EN_Page_3.jpg

http://www.ekomarketing.ca/mailview.aspx?lang=en&2h=6272790&s9=13813&2i=212&j2=newsrelease%4024hgold.com&h4=a.jpg
 

 
| Send to a friend
 

Murgor Resources Inc.

PRODUCER
CODE : MGR.V
ISIN : CA62660P4024
Follow and Invest
Add to watch list Add to your portfolio Add or edit a note
Add Alert Add to Watchlists Add to Portfolio Add Note
ProfileMarket
Indicators
VALUE :
Projects & res.
Press
releases
Annual
report
RISK :
Asset profile
Contact Cpy

Murgor is a zinc and copper producing company based in Canada.

Murgor holds various exploration projects in Canada.

Its main asset in production is FLIN-D in Canada and its main exploration properties are GOLDEN ARROW MINE, BARRY - URBAN (EAGLE RIVER), CLAY LAKE, NELLIGAN, BARRY - URBAN (WINDFALL), LA TREVE, MISHIBISHU, MYSTERY, FANCAMP, MOUNT PLEASANT, BARRY - URBAN (BARRY), BENOIT, HUDVAM, WIM, FON, GULLROCK PROPERTY, PREMIERE PROPERTY and ELMTREE GOLD in Canada.

Murgor is listed in Canada and in United States of America. Its market capitalisation is CA$ 1.2 millions as of today (US$ 986 887, € 923 332).

Its stock quote reached its highest recent level on August 07, 2020 at CA$ 1.89, and its lowest recent point on March 07, 2023 at CA$ 0.01.

Murgor has 123 430 000 shares outstanding.

Your feedback is appreciated, please leave a comment or rate this article.
Rate : Average note :0 (0 vote) View Top rated
 
Annual reports of Murgor Resources Inc.
2008 Annual Report
Financings of Murgor Resources Inc.
7/3/2009Announces the Closing of Private Placement
5/6/2008ANNOUNCES THE COMPLETION OF A $2.3 MILLION PRIVATE PLACEMENT
4/24/2008ANNOUNCES MAXIMUM $2.3 MILLION PRIVATE PLACEMENT
12/6/2007announces closing of $1.6 million private placement
Option Grants of Murgor Resources Inc.
7/15/2010Grant of 1,125,000 stock options
5/23/2008Grant of 1.239.174 stock options
Nominations of Murgor Resources Inc.
5/15/2008APPOINTS NEW VICE-P
Project news of Murgor Resources Inc.
2/10/2011(Golden Arrow Mine)INTERSECTS MORE GOLD, UNDERNEATH THE OPEN PIT AT THE GOLDEN ...
9/24/2009(Fancamp)Announces Trenching Returns at Fancamp Gol
9/17/2009(Hudvam)EARNS 100% INTEREST FROM HUDBAY AT THE WIM COPPER-GOLD AND H...
8/27/2009(Premiere Property)Murgor Resources Acquires Red Lake Gold Properties
2/12/2009(Fon) Announces Drilling at Abbott Lake, SK
9/18/2008(Hudvam)ANNOUNCES METALLURGICAL RESULTS AT THE HUDVAM AND WIM DEPOSI...
9/9/2008(Wim)'S NEW NI 43-101 RESOURCE ESTIMATE
8/30/2008(Hudvam)COMPLETES NI 43-101 RESOURCE ESTIMATE AT THE HUDVAM D
5/15/2008(Hudvam)DRILLS MORE HIGH GRADE GOLD A
5/9/2008(Hudvam)'S NEW DISCOVERY YIELDS SIGNIFICANT GRADES OVER MINEAB
4/23/2008(Hudvam)RELEASES FURTHER HIGH GRADE GOLD ASSAYS FROM THE HUDVAM COPP...
4/1/2008(Wim)DRILLING EXTENDS THE NEW UPPE
3/31/2008(Mishibishu) AND JOINT VENTURE PARTNER AWAIT GEOCHEMICAL RESULTS F
Corporate news of Murgor Resources Inc.
3/12/2015IIROC Trading Halt - MGR
3/10/2015Alexandria Minerals Acquisition of Murgor Resources Complete...
12/23/2014Alexandria Minerals Corporation to acquire Murgor Resources ...
6/3/2014acquires Wydee property in proximity to the Young Davidson G...
4/7/2014to sell royalties on Quebec properties
4/1/2014completes the sale of its remaining interest at Windfall
3/13/2014agrees to sell its remaining windfall property interest to E...
10/24/2013(Fancamp)signs option agreement with TomaGold Corporation at the Fanc...
5/27/2013Completes Sale of Benoist and Waconichi Properties for Total...
3/13/2013to sell its net smelter return royalty at the Barry 1 Proper...
2/9/2010Starts Drilling Copper-Gold Targets At the WIM-extension
1/14/2010Starts Exploration work on its Red Lake Gold properties
9/10/2009Fundamental research renews recommandation for Murgor
9/1/2009 Announces CNME Acquires 14.95% interest in
11/14/2008Announces First Closing of $403,000 Private
11/10/2008CEO Monthly Newsletter - November 2008
9/5/2008September 2008 Newsletter
6/27/2008SUMMARY OF RECENT EXPLORATION DEVELO
6/23/2008June 2008 Newsletter
6/18/2008ANNOUNCES A SIGNIFICANT SIZE
5/26/2008FUNDAMENTAL RESEARCH INITIATES COVER
5/9/2008- May 2008 Newsletter
2/7/2008February 2008 Newsletter
2/1/2008RETAINS LEADING INVESTOR RELA
1/30/2008ANNOUNCES RIGHTS OF
11/24/2007 ANNOUNCES SHARE CONSOLIDATION
11/15/2007RETAINS GOLDER ASSOCIATES FOR PRELIMINARY FEASIBILITY STUDIE...
11/6/2007 Bulletin de Novembre 2007
10/17/2007LE TROU DE FORAGE #3 DE MURGOR AU GISEMENT DE WIM
10/11/2007EXTENDS WIM COPPER-GOLD DEPOSIT
8/29/2007starts drilling at the Wim deposit in northern Manitoba
Comments closed
 
Latest comment posted for this article
Be the first to comment
Add your comment
TSX-V (MGR.V)Other OTC (MGRRF)
0.010+0.00%0.0130
TSX-V
CA$ 0.010
03/07 14:55 -
0%
Prev close Open
0.010 0.010
Low High
0.010 0.010
Year l/h YTD var.
 -  -
52 week l/h 52 week var.
- -  0.010 -%
Volume 1 month var.
1,400 -%
24hGold TrendPower© : -37
Produces Copper - Zinc
Develops
Explores for Copper - Diamonds - Gallium - Gold - Silver - Zinc
 
 
 
Analyse
Interactive chart Add to compare
Interactive
chart
Print Compare Export
Last updated on : 1/14/2010
You must be logged in to use the porfolio and watchlists (free)
Top Newsreleases
MOST READ
Annual variation
DateVariationHighLow
20240.00%
2023-66.67%0.040.01
2022-96.20%0.850.03
2021-24.04%1.200.72
2020258.62%1.890.24
 
5 years chart
 
3 months chart
 
3 months volume chart
 
 
Mining Company News
Plymouth Minerals LTDPLH.AX
Plymouth Minerals Intersects Further High Grade Potash in Drilling at Banio Potash Project - Plannin
AU$ 0.12-8.00%Trend Power :
Santos(Ngas-Oil)STO.AX
announces expected non-cash impairment
AU$ 7.70-0.71%Trend Power :
Oceana Gold(Au)OGC.AX
RELEASES NEW TECHNICAL REPORT FOR THE HAILE GOLD MINE
AU$ 2.20+0.00%Trend Power :
Western Areas NL(Au-Ni-Pl)WSA.AX
Advance Notice - Full Year Results Conference Call
AU$ 3.86+0.00%Trend Power :
Canadian Zinc(Ag-Au-Cu)CZN.TO
Reports Financial Results for Q2 and Provides Project Updates
CA$ 0.12+4.55%Trend Power :
Stornoway Diamond(Gems-Au-Ur)SWY.TO
Second Quarter Results
CA$ 0.02+100.00%Trend Power :
McEwen Mining(Cu-Le-Zn)MUX
TO ACQUIRE BLACK FOX FROM PRIMERO=C2=A0
US$ 11.94+9.34%Trend Power :
Rentech(Coal-Ngas)RTK
Rentech Announces Results for Second Quarter 2017
US$ 0.20-12.28%Trend Power :
KEFIKEFI.L
Reduced Funding Requirement
GBX 0.54-2.55%Trend Power :
Lupaka Gold Corp.LPK.V
Lupaka Gold Receives First Tranche Under Amended Invicta Financing Agreement
CA$ 0.06+0.00%Trend Power :
Imperial(Ag-Au-Cu)III.TO
Closes Bridge Loan Financing
CA$ 2.69+13.03%Trend Power :
Guyana Goldfields(Cu-Zn-Pa)GUY.TO
Reports Second Quarter 2017 Results and Maintains Production Guidance
CA$ 1.84+0.00%Trend Power :
Lundin Mining(Ag-Au-Cu)LUN.TO
d Share Capital and Voting Rights for Lundin Mining
CA$ 15.60+1.83%Trend Power :
Canarc Res.(Au)CCM.TO
Canarc Reports High Grade Gold in Surface Rock Samples at Fondaway Canyon, Nevada
CA$ 0.24+0.00%Trend Power :
Havilah(Cu-Le-Zn)HAV.AX
Q A April 2017 Quarterly Report
AU$ 0.20+2.63%Trend Power :
Uranium Res.(Ur)URRE
Commences Lithium Exploration Drilling at the Columbus Basin Project
US$ 6.80-2.86%Trend Power :
Platinum Group Metals(Au-Cu-Gems)PTM.TO
Platinum Group Metals Ltd. Operational and Strategic Process ...
CA$ 1.87+5.65%Trend Power :
Devon Energy(Ngas-Oil)DVN
Announces $340 Million of Non-Core Asset Sales
US$ 52.61+0.98%Trend Power :
Precision Drilling(Oil)PD-UN.TO
Announces 2017Second Quarter Financial Results
CA$ 8.66-0.35%Trend Power :
Terramin(Ag-Au-Cu)TZN.AX
2nd Quarter Report
AU$ 0.04+5.56%Trend Power :