Duluth Metals Announces Higher Grade
Intercepts With New Twin Metals Drilling Results
TORONTO, Ontario, February 10, 2011
- Duluth Metals Limited ("Duluth Metals") (TSX: DM) (TSX:DM.U) today announced assay results for 15
holes drilled by Twin Metals Minnesota LLC (Twin Metals), on the Nokomis
joint venture project in Minnesota, U.S.A. Results of the current drill holes
which were drilled within and adjacent to the Central and Eastern High Grade
Zones (see press release dated December 11, 2009) confirm and extend the high
grade mineralization in these areas. The majority of the holes returned copper
equivalent (CuEq) values significantly greater than the Indicated Resource
global grade of 1.51% CuEq. In addition, 13 of the 15 holes returned assay
intervals of greater than 1 gram per tonne Total Precious Metals, compared to
the global average of 0.66 g/t for the Nokomis Deposit (as per Scott Wilson RPA
NI 43-101 compliant Resource Report dated December 10, 2009).
Highlights include MEX-194 which returned 120 feet of 0.934% copper,
0.222% nickel, 3.2 g/t silver and 1.925 grams per tonne (g/t) Total Precious
Metals (TPM = Platinum+Palladium+Gold) (Cu Equivalent* of 2.35%), including a
30 foot section of 1.181% copper, 0.262% nickel, 3.7 g/t silver and 2.439 g/t
TPM (Cu Equivalent* of 2.96%), as well as a 30 foot section of 1.160% copper,
0.263% nickel, 4.4 g/t silver and 2.398 g/t TPM (Cu Equivalent* of 2.88%).
MEX-182 intersected 145 feet of 0.827% copper, 0.225% nickel, 3.3 g/t silver
and 1.319 g/t TPM (Cu Equivalent* of 1.99%) including a 15 foot section of 0.994%
copper, 0.271% nickel, 3.3 g/t silver and 1.640 g/t TPM (Cu Equivalent* of
2.45%), as well as a 15 foot section of 1.576 % copper, 0.583% nickel, 9.9 g/t
silver and 2.921 g/t TPM (Cu Equivalent* of 4.21%).
Vern Baker, President of Duluth Metals, stated: "Drilling to better
delineate the higher-grade portions of the Nokomis deposit has been very
encouraging. The results from drilling have increased our confidence in the
quality of grade and continuity within this zone. These results will allow Twin
Metals to confidently evaluate a mine plan incorporating this area into early
production schedules allowing for improved project economics."
A map illustrating the location of the 15 drill holes reported in this press
release can be found on the Company website under this press release at www.duluthmetals.com.
A more detailed summary of the assay results for MEX-182, 183, 183-W1, 184,
185, 186, 187, 188, 189, 190, 191, 192, 193, 194 and 195 can be found in the
table below. True width is estimated at about 90%
of core length.
HOLE
|
ZONE
|
FROM
(feet)
|
TO
(feet)
|
LENGTH
(feet)
|
COPPER
(%)
|
NICKEL
(%)
|
TPM*
(g/t)**
|
CuEQ
(%)
|
MEX-182
|
@0.3% Cu cut-off
|
4062
|
4212
|
150
|
0.813
|
0.223
|
1.299
|
1.96
|
|
@0.5% Cu cut-off
|
4067
|
4212
|
145
|
0.827
|
0.225
|
1.319
|
1.99
|
|
including
|
4142
|
4157
|
15
|
0.994
|
0.271
|
1.640
|
2.45
|
|
and
|
4182
|
4197
|
15
|
1.576
|
0.583
|
2.921
|
4.21
|
|
|
|
|
|
|
|
|
|
MEX-183
|
Total Mineralized Interval
|
3869
|
4044
|
175
|
0.446
|
0.104
|
0.666
|
1.02
|
|
@0.3% Cu cut-off
|
3879
|
3904
|
25
|
0.427
|
0.061
|
0.442
|
0.78
|
|
@0.3% Cu cut-off
|
3934
|
4024
|
90
|
0.555
|
0.140
|
0.910
|
1.33
|
|
@0.5% Cu cut-off
|
3934
|
3989
|
55
|
0.686
|
0.178
|
1.234
|
1.71
|
|
|
|
|
|
|
|
|
|
MEX-183-W1
|
Total Mineralized Interval
|
3888
|
4063
|
175
|
0.556
|
0.132
|
0.689
|
1.22
|
|
@0.3% Cu cut-off
|
3888
|
3908
|
20
|
0.551
|
0.085
|
0.587
|
1.05
|
|
@0.3% Cu cut-off
|
3923
|
4023
|
100
|
0.731
|
0.180
|
0.943
|
1.64
|
|
@0.5% Cu cut-off
|
3923
|
4008
|
85
|
0.785
|
0.194
|
1.015
|
1.76
|
|
including
|
3938
|
3948
|
10
|
1.171
|
0.332
|
1.804
|
2.88
|
|
and
|
3963
|
3973
|
10
|
1.258
|
0.316
|
1.650
|
2.86
|
|
|
|
|
|
|
|
|
|
MEX-184
|
@0.3% Cu cut-off
|
268
|
278
|
10
|
0.502
|
0.050
|
0.102
|
0.69
|
|
@0.3% Cu cut-off
|
4498
|
4518
|
20
|
0.638
|
0.072
|
0.420
|
1.02
|
|
@0.5% Cu cut-off
|
4503
|
4518
|
15
|
0.730
|
0.081
|
0.436
|
1.14
|
|
@0.5% Cu cut-off
|
4543
|
4548
|
5
|
1.065
|
0.129
|
0.707
|
1.73
|
|
|
|
|
|
|
|
|
|
MEX-185
|
@0.3% Cu cut-off
|
4038
|
4058
|
20
|
0.653
|
0.224
|
1.101
|
1.75
|
|
@0.5% Cu cut-off
|
4043
|
4058
|
15
|
0.716
|
0.245
|
1.182
|
1.91
|
|
@0.3% Cu cut-off
|
4093
|
4218
|
125
|
0.726
|
0.176
|
0.993
|
1.64
|
|
@0.5% Cu cut-off
|
4093
|
4173
|
80
|
0.832
|
0.208
|
1.203
|
1.92
|
|
including
|
4098
|
4123
|
25
|
1.183
|
0.293
|
1.844
|
2.75
|
|
@0.5% Cu cut-off
|
4188
|
4208
|
20
|
0.718
|
0.180
|
0.847
|
1.59
|
|
|
|
|
|
|
|
|
|
MEX-186
|
@0.5% Cu cut-off
|
4133
|
4233
|
100
|
0.764
|
0.226
|
1.032
|
1.87
|
|
|
|
|
|
|
|
|
|
MEX-187
|
Total Mineralized Interval
|
4489
|
4524
|
35
|
0.322
|
0.037
|
0.558
|
0.68
|
|
@0.5% Cu cut-off
|
4414
|
4419
|
5
|
0.567
|
0.057
|
0.432
|
0.90
|
|
@0.3% Cu cut-off
|
4489
|
4499
|
10
|
0.481
|
0.057
|
1.629
|
1.37
|
|
@0.3% Cu cut-off
|
4514
|
4524
|
10
|
0.465
|
0.044
|
0.195
|
0.68
|
|
|
|
|
|
|
|
|
|
MEX-188
|
@0.3% Cu cut-off
|
4038
|
4133
|
95
|
0.640
|
0.145
|
1.101
|
1.50
|
|
@0.5% Cu cut-off
|
4058
|
4123
|
65
|
0.728
|
0.161
|
1.277
|
1.70
|
|
|
|
|
|
|
|
|
|
MEX-189
|
@0.3% Cu cut-off
|
3578
|
3598
|
20
|
0.384
|
0.099
|
0.514
|
0.89
|
|
@0.3% Cu cut-off
|
3618
|
3713
|
95
|
0.664
|
0.166
|
0.946
|
1.55
|
|
@0.5% Cu cut-off
|
3623
|
3708
|
85
|
0.701
|
0.175
|
0.989
|
1.62
|
|
including
|
3633
|
3648
|
15
|
1.047
|
0.277
|
1.542
|
2.48
|
|
|
|
|
|
|
|
|
|
MEX-190
|
@0.5% Cu cut-off
|
4479
|
4489
|
10
|
0.681
|
0.161
|
2.561
|
2.20
|
|
|
|
|
|
|
|
|
|
MEX-191
|
@0.3% Cu cut-off
|
3972
|
4102
|
130
|
0.740
|
0.198
|
1.199
|
1.80
|
|
@0.5% Cu cut-off
|
3977
|
4087
|
110
|
0.812
|
0.216
|
1.327
|
1.98
|
|
including
|
3977
|
4012
|
35
|
0.943
|
0.259
|
1.588
|
2.33
|
|
|
|
|
|
|
|
|
|
MEX-192
|
@0.3% Cu cut-off
|
3903
|
4008
|
105
|
0.497
|
0.115
|
0.639
|
1.10
|
|
@0.5% Cu cut-off
|
3903
|
3933
|
30
|
0.810
|
0.180
|
1.032
|
1.76
|
|
|
|
|
|
|
|
|
|
MEX-193
|
@0.5% Cu cut-off
|
4153.5
|
4179
|
25.5
|
0.523
|
0.185
|
2.562
|
2.07
|
|
|
|
|
|
|
|
|
|
MEX-194
|
@0.3% Cu cut-off
|
3823
|
3953
|
130
|
0.893
|
0.211
|
1.812
|
2.23
|
|
@0.5% Cu cut-off
|
3828
|
3948
|
120
|
0.934
|
0.222
|
1.925
|
2.35
|
|
including
|
3858
|
3888
|
30
|
1.181
|
0.262
|
2.439
|
2.96
|
|
and
|
3918
|
3948
|
30
|
1.160
|
0.263
|
2.398
|
2.88
|
|
@0.3% Cu cut-off
|
3993
|
4038
|
45
|
0.899
|
0.156
|
1.452
|
1.89
|
|
@0.5% Cu cut-off
|
3998
|
4028
|
30
|
1.131
|
0.179
|
1.816
|
2.31
|
|
including
|
4008
|
4018
|
10
|
1.700
|
0.168
|
2.810
|
3.10
|
|
|
|
|
|
|
|
|
|
MEX-195
|
@0.3% Cu cut-off
|
3610.5
|
3648
|
37.5
|
0.548
|
0.171
|
0.760
|
1.38
|
|
@0.5% Cu cut-off
|
3613
|
3643
|
30
|
0.602
|
0.183
|
0.824
|
1.49
|
|
@0.3% Cu cut-off
|
3678
|
3693
|
15
|
0.399
|
0.119
|
0.468
|
0.95
|
|
@0.3% Cu cut-off
|
3713
|
3728
|
15
|
0.350
|
0.096
|
0.361
|
0.78
|
|
|
|
|
|
|
|
|
|
*TPM = Total
Precious Metals (Platinum+Palladium+Gold)
** g/t = grams per tonne
Complete gold, platinum, palladium and silver assays for MEX-182, 183, 183-W1,
184, 185, 186, 187, 188, 189, 190, 191, 192, 193, 194 and 195 are as follows:
HOLE
|
ZONE
|
FROM
(feet)
|
TO
(feet)
|
LENGTH
(feet)
|
GOLD
(g/t)**
|
PLATINUM
(g/t)**
|
PALLADIUM
(g/t)**
|
SILVER
(g/t)**
|
MEX-182
|
@0.3% Cu cut-off
|
4062
|
4212
|
150
|
0.138
|
0.283
|
0.878
|
3.3
|
|
@0.5% Cu cut-off
|
4067
|
4212
|
145
|
0.139
|
0.287
|
0.893
|
3.3
|
|
including
|
4142
|
4157
|
15
|
0.216
|
0.432
|
0.991
|
3.3
|
|
and
|
4182
|
4197
|
15
|
0.180
|
0.285
|
2.455
|
9.9
|
|
|
|
|
|
|
|
|
|
MEX-183
|
Total Mineralized Interval
|
3869
|
4044
|
175
|
0.141
|
0.165
|
0.361
|
1.9
|
|
@0.3% Cu cut-off
|
3879
|
3904
|
25
|
0.081
|
0.098
|
0.263
|
2.7
|
|
@0.3% Cu cut-off
|
3934
|
4024
|
90
|
0.217
|
0.225
|
0.467
|
2.2
|
|
@0.5% Cu cut-off
|
3934
|
3989
|
55
|
0.318
|
0.304
|
0.612
|
2.5
|
|
|
|
|
|
|
|
|
|
MEX-183-W1
|
Total Mineralized Interval
|
3888
|
4063
|
175
|
0.096
|
0.176
|
0.418
|
2.0
|
|
@0.3% Cu cut-off
|
3888
|
3908
|
20
|
0.099
|
0.168
|
0.320
|
2.2
|
|
@0.3% Cu cut-off
|
3923
|
4023
|
100
|
0.129
|
0.236
|
0.578
|
2.8
|
|
@0.5% Cu cut-off
|
3923
|
4008
|
85
|
0.141
|
0.250
|
0.624
|
3.0
|
|
including
|
3938
|
3948
|
10
|
0.290
|
0.467
|
1.048
|
2.9
|
|
and
|
3963
|
3973
|
10
|
0.224
|
0.439
|
0.988
|
4.8
|
|
|
|
|
|
|
|
|
|
MEX-184
|
@0.3% Cu cut-off
|
268
|
278
|
10
|
0.029
|
0.015
|
0.058
|
1.4
|
|
@0.3% Cu cut-off
|
4498
|
4518
|
20
|
0.078
|
0.097
|
0.245
|
1.7
|
|
@0.5% Cu cut-off
|
4503
|
4518
|
15
|
0.075
|
0.102
|
0.259
|
1.6
|
|
@0.5% Cu cut-off
|
4543
|
4548
|
5
|
0.135
|
0.167
|
0.405
|
2.3
|
|
|
|
|
|
|
|
|
|
MEX-185
|
@0.3% Cu cut-off
|
4038
|
4058
|
20
|
0.153
|
0.265
|
0.683
|
1.8
|
|
@0.5% Cu cut-off
|
4043
|
4058
|
15
|
0.131
|
0.289
|
0.762
|
2.0
|
|
@0.3% Cu cut-off
|
4093
|
4218
|
125
|
0.149
|
0.238
|
0.606
|
2.8
|
|
@0.5% Cu cut-off
|
4093
|
4173
|
80
|
0.182
|
0.281
|
0.739
|
3.3
|
|
including
|
4098
|
4123
|
25
|
0.299
|
0.417
|
1.128
|
3.5
|
|
@0.5% Cu cut-off
|
4188
|
4208
|
20
|
0.114
|
0.216
|
0.517
|
2.8
|
|
|
|
|
|
|
|
|
|
MEX-186
|
@0.5% Cu cut-off
|
4133
|
4233
|
100
|
0.105
|
0.306
|
0.621
|
2.3
|
|
|
|
|
|
|
|
|
|
MEX-187
|
Total Mineralized Interval
|
4489
|
4524
|
35
|
0.096
|
0.194
|
0.268
|
2.5
|
|
@0.5% Cu cut-off
|
4414
|
4419
|
5
|
0.072
|
0.097
|
0.263
|
1.4
|
|
@0.3% Cu cut-off
|
4489
|
4499
|
10
|
0.264
|
0.585
|
0.781
|
6.3
|
|
@0.3% Cu cut-off
|
4514
|
4524
|
10
|
0.060
|
0.048
|
0.087
|
2.3
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
MEX-188
|
@0.3% Cu cut-off
|
4038
|
4133
|
95
|
0.141
|
0.273
|
0.688
|
3.3
|
|
@0.5% Cu cut-off
|
4058
|
4123
|
65
|
0.165
|
0.311
|
0.802
|
3.5
|
|
|
|
|
|
|
|
|
|
MEX-189
|
@0.3% Cu cut-off
|
3578
|
3598
|
20
|
0.064
|
0.137
|
0.313
|
1.2
|
|
@0.3% Cu cut-off
|
3618
|
3713
|
95
|
0.112
|
0.266
|
0.568
|
2.2
|
|
@0.5% Cu cut-off
|
3623
|
3708
|
85
|
0.117
|
0.275
|
0.596
|
2.4
|
|
including
|
3633
|
3648
|
15
|
0.165
|
0.409
|
0.968
|
3.1
|
|
|
|
|
|
|
|
|
|
MEX-190
|
@0.5% Cu cut-off
|
4479
|
4489
|
10
|
0.335
|
0.752
|
1.474
|
2.8
|
|
|
|
|
|
|
|
|
|
MEX-191
|
@0.3% Cu cut-off
|
3972
|
4102
|
130
|
0.149
|
0.312
|
0.739
|
3.1
|
|
@0.5% Cu cut-off
|
3977
|
4087
|
110
|
0.163
|
0.347
|
0.818
|
3.4
|
|
including
|
3977
|
4012
|
35
|
0.187
|
0.384
|
1.017
|
3.5
|
|
|
|
|
|
|
|
|
|
MEX-192
|
@0.3% Cu cut-off
|
3903
|
4008
|
105
|
0.091
|
0.172
|
0.376
|
2.6
|
|
@0.5% Cu cut-off
|
3903
|
3933
|
30
|
0.132
|
0.284
|
0.617
|
3.1
|
|
|
|
|
|
|
|
|
|
MEX-193
|
@0.5% Cu cut-off
|
4153.5
|
4179
|
25.5
|
0.242
|
0.668
|
1.653
|
1.3
|
|
|
|
|
|
|
|
|
|
MEX-194
|
@0.3% Cu cut-off
|
3823
|
3953
|
130
|
0.400
|
0.450
|
0.962
|
3.0
|
|
@0.5% Cu cut-off
|
3828
|
3948
|
120
|
0.427
|
0.478
|
1.020
|
3.2
|
|
including
|
3858
|
3888
|
30
|
0.504
|
0.692
|
1.243
|
3.7
|
|
and
|
3918
|
3948
|
30
|
0.290
|
0.622
|
1.487
|
4.4
|
|
@0.3% Cu cut-off
|
3993
|
4038
|
45
|
0.213
|
0.288
|
0.951
|
6.7
|
|
@0.5% Cu cut-off
|
3998
|
4028
|
30
|
0.266
|
0.340
|
1.210
|
9.3
|
|
including
|
4008
|
4018
|
10
|
0.490
|
0.355
|
1.965
|
22.4
|
|
|
|
|
|
|
|
|
|
MEX-195
|
@0.3% Cu cut-off
|
3610.5
|
3648
|
37.5
|
0.100
|
0.224
|
0.436
|
2.1
|
|
@0.5% Cu cut-off
|
3613
|
3643
|
30
|
0.111
|
0.245
|
0.469
|
2.3
|
|
@0.3% Cu cut-off
|
3678
|
3693
|
15
|
0.055
|
0.138
|
0.275
|
1.9
|
|
@0.3% Cu cut-off
|
3713
|
3728
|
15
|
0.051
|
0.085
|
0.225
|
1.4
|
*TPM = Total
Precious Metals (Platinum+Palladium+Gold)
** g/t = grams per tonne
For the 2010-2011 Drill Program, half core samples are being prepared at ALS
Chemex Ltd. laboratories in Thunder Bay and then shipped to its analytical
facilities in Vancouver. Samples are being analyzed for Au, Pt, and Pd using a
standard fire assay with an ICP finish and for 27 other elements using a four
acid (near total) digestion and a combination of ICPMS and ICPAES. ICP over
limits were re-analyzed using sodium peroxide fusion, acid dissolution followed
by ICPAES. The remaining half core samples are being stored in Minnesota.
*Note - Copper Equivalent is based on US metal prices of: Copper - $1.75/lb,
Nickel - $7.00/lb, Cobalt - $10.00/lb, Gold - $600/oz, Platinum - $1,100/oz,
Palladium - $350/oz and Silver - $8.50/oz, and the methodology with metallurgical
recoveries, refining costs and other charges being considered for all metals in
accordance with the Net Smelter Return Factors contained in the January 22,
2008, NI 43-101 Scoping Study produced by Scott Wilson RPA.
David Oliver, P. Geo. and Twin Metals Site Manager is the Qualified Person, in
accordance with NI 43-101 of the Canadian Securities Administrators, and is
responsible for the technical content of this press release and quality
assurance of the exploration data and analytical results.
About Duluth Metals
Duluth Metals is committed to acquiring, exploring and developing copper,
nickel and platinum group metal (PGM) deposits. Duluth Metals has a joint
venture with Antofagasta plc on the Nokomis Project, located within the rapidly
emerging Duluth Complex mining camp in north-eastern Minnesota. The Duluth
Complex hosts one of the world's largest undeveloped repositories of copper,
nickel and PGMs, including the world's third largest accumulation of nickel
sulphides, and one of the world's largest accumulations of polymetallic copper
and platinum group metals. Aside from the joint venture, Duluth Metals retains
a 100% position on approximately 31,000 acres of mineral interests on
exploration properties adjacent to and nearby the Nokomis joint venture.
About Twin Metals Minnesota LLC
Twin Metals Minnesota LLC is a new joint venture company, which is 60% owned by
Duluth Metals and 40% by Antofagasta plc. The joint venture's principal asset
is called the Nokomis Project, located within the Duluth Complex mining camp in
north-eastern Minnesota. The current NI 43-101 compliant Resource Estimate
dated December 2009 for the Nokomis Deposit consists of 550 million tonnes of
Indicated Resources grading 0.639% copper, 0.200% nickel, 0.660 grams per tonne
TPM (TPM = Pt + Pd + Au) for a copper equivalent (CuEq) grade of 1.51%, plus an
additional 274 million tonnes of Inferred Resources grading 0.632% copper,
0.207% nickel, 0.685 grams per tonne TPM for a CuEq grade of 1.53%.
"This document may
contain forward-looking statements (including "forward-looking
information" within the meaning of applicable Canadian securities
legislation and "forward-looking statements" within the meaning of
the US Private Securities Litigation Reform Act of 1995) relating to, among
other things, the operations of Duluth Metals, the environment in which it
operates, timing and amount of capital expenditures, results of exploration and
mine development, the availability of funding to Duluth Metals and timing of
geological reports. Such statements are based on operations, estimates,
forecasts and projections. They are not guarantees of future performance and
involve known and unknown risks, uncertainties and other factors that are
difficult to predict and may be beyond the control of Duluth Metals. A number
of important factors could cause actual outcomes and results to differ
materially from those expressed in forward-looking statements, including those
set forth in the annual information form under the heading "Risk Factors"
and in the other public filings of Duluth Metals. Consequently, undue reliance
should not be placed on such forward-looking statements. In addition, all
forward-looking statements in this press release are given as of the date
hereof. Duluth Metals disclaims any intention or obligation to update or revise
any forward-looking statements, whether as a result of new information, future
events or otherwise, save and except as may be required by applicable
securities laws.
For further information: please contact:
Mara Strazdins
Director of Corporate Communications
(416) 369-1500 ext 222
mstrazdins@duluthmetals.com
Vern Baker
President
(651)-389-9990
vbaker@duluthmetals.com