Murgor Resources Inc.

Published : April 01st, 2008

DRILLING EXTENDS THE NEW UPPE

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Keywords :   Canada | Copper | Gold | Silver | Troy Ounce | Zinc |
Murgor

MURGOR DRILLING EXTENDS THE NEW UPPER ZONE OF THE WIM
COPPER-GOLD DEPOSIT IN MANITOBA


NEW PORTION OF THE DEPOSIT IS 400 METRES BY 300 METRES AND EXTENDS TO SURFACE


Montreal, Quebec, April 01, 2008.  Murgor Resources Inc. (MGR: TSX-V) today announced that it has extended the Wim massive sulphide lens by more than 300 metres up dip and that the mineralization is now believed to extend to the surface.  To date, Murgor intersected the up-dip extension of the deposit with twenty-two (22) drill holes.  The new zone has a 400 metre strike length, a dip length of 300 metres and the average true thickness of the observed sulphide lens is 5.50 metres.  The mineralization consists of massive to semi-massive pyrite and pyrrhotite with chalcopyrite and local sphalerite.  Assays are pending for most of the drill holes but initial geochemical results are shown in table form, at the end of this press release.  A longitudinal section is attached to this press release on the Murgor website at www.murgor.com, to show the extent of the new upper zone and where the drill holes are located. 

André C. Tessier, President & CEO of Murgor Resources reports: “We are very pleased with these results since we had initially thought the greatest potential for expansion of the resource at Wim, was at depth.  The deposit extending to surface adds a new dimension to the project as delineation of the deposit at depth is yet to begin.  This will be the focus of our third phase of drilling at Wim..  Right now, however, Murgor is focused on a calculating a new 43-101 compliant resource estimate that will include the new extensions of the deposit discovered in 2007 and 2008.

Murgor has just completed Phase II of its drilling program at the Wim deposit.  The 43 drill hole, 11,000 metre program that started in January of 2008, was initially designed to delineate the whole deposit with infill and definition holes.  Since the deposit kept getting larger, however, Murgor could only delineate the upper portion of the deposit with the same amount of drilling.  Another phase of drilling will be necessary to delineate the lower portion of the deposit and test exploration targets at depth.

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, which doesn’t include the new zones defined by Murgor in 2007 and 2008, is as follows (please see SEDAR for the full report):
      

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

2% Cu Equiv**     2,273,000         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.

Mineralization at the Wim deposit consists of coarse-grained, gold-bearing massive to semi-massive sulphide (pyrite, pyrrhotite, chalcopyrite and minor sphalerite).  The mineralized zone now extends from surface to 720 metres below surface, over a strike length of nearly 725 metres.  The lens remains largely open at depth, on strike and down plunge.

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.

Chemical analyses reported in this press release were performed by TSL Laboratories in Saskatoon.  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 duplicate samples, blanks and analytical standards. 

The Qualified Persons in the field, as defined by NI-43-101, were Neil W. Richardson P.Geo. and Dr. Jean-Philippe Desrochers, P.Geo. respectively Manager of Exploration, Central Canada and Vice-President of Exploration for Murgor Resources Inc.  Andre C. Tessier, P.Geo. (On), P.Eng. (Qc) and President CEO of Murgor Resources is the Qualified Person responsible for this news release.

TABLE OF 2008 RESULTS TO DATE AT WIM


FOR FURTHER INFORMATION PLEASE VISIT MURGOR’S WEBSITE AT WWW.MURGOR.COM OR CONTACT:

André C. Tessier, President & CEO
MURGOR RESOURCES INC.
Tel: (613) 546-7503 or 1-888-891-3330
Fax:  (613) 546-7318
E-mail: info@murgor.com      Web site:  www.murgor.com

Or

Michael Joyner
Investor Relations - The Equicom Group
Tel: (416) 815-1700 ext. 275 or  1-800-385-5451
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.


 
 
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Murgor Resources Inc.

PRODUCER
CODE : MGR.V
ISIN : CA62660P4024
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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, € 864 513).

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.

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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
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