MURGOR DRILLING EXTENDS WIM COPPER-GOLD DEPOSIT BY AT LEAST 120 METERS IN NORTHERN MANITOBA
- 2.83% Copper and 3.35 g/t Gold over 11.1 meters
Montreal, Quebec, October 10, 2007. Murgor Resources Inc. (MUG: TSX-V) is pleased to announce results from the first four drill holes of its preliminary phase of drilling at the Wim property in northern Manitoba. To date, 2,007 meters of drilling have been completed from a minimum preliminary program of 5,500 metres. Five drill holes have been drilled including drill hole #4 that was abandoned due to excessive deviation. Complete results have been received from the first two drill holes of the program and samples for the next two drill holes are being processed at the geochemical lab. Results from the first two drill holes are as follows (a complete table of results is shown below):
WZS07-001 – 2.83% Cu, 3.35 g/t Au, 12.49 g/t Ag and 0.25% Zn over 11.10 meters
WSZ07-002 – 2.23% Cu, 1.13 g/t Au, 8.62 g/t Ag and 0.82% Zn over 2.23 meters
Hole #1 is an infill drill hole whereas drill hole number #2 has extended the deposit by 80 meters towards the southeast (a longitudinal section is attached to this press release on the Murgor website at
www.murgor.com).
Drill hole #3 extended the orebody by more than 120 meters southeast and up plunge from the ore lens. From 331.01 to 342.80 meters, the drill hole intersected 6.40 meters of massive and semi-massive sulphide mineralization, and another 5.39 meters of heavily disseminated sulphide mineralization. The sulphide mineralization consists of pyrite-pyrrhotite and chalcopyrite. Photos of this drill core are available for viewing on the Murgor website at
www.murgor.com. Drill hole #5 was testing the eastern extension of the ore lens but deviated to the southeast off its target. Nevertheless, the hole intersected disseminated pyrite-pyrrhotite and chalcopyrite.
This drilling program is part of a more extensive drilling program that will start in January of 2008, with an additional drill. The objective of the drilling is twofold:
- To expand the existing copper-gold resource at Wim by testing extensions of the ore lens and by testing new, untested, high priority geological and geophysical targets on the property.
- To initiate definition drilling of the Wim deposit to upgrade the copper-gold resource to Indicated and Measured categories, leading to a feasibility study (planned for the third quarter of 2009).
The Wim deposit mineralization consists of coarse-grained, gold-bearing massive to semi-massive sulphide (pyrite, pyrrhotite, chalcopyrite and minor sphalerite). Prior to this phase of drilling, the mineralized zone extended from 245 metres to 640 metres below surface, and over a strike length of nearly 500 metres. The mineralized zone is up to 11 metres wide. The ore lens trends to the NW, is dipping 50° towards the NE, and has a general plunge of 40° to the NW.
The lens remains largely open in all directions. Assuming an average width of 3 metres for the ore lens and using an ore density measured at 3.0 g/cubic centimetre, each 100 m x 100 m extension of the ore lens on the vertical longitudinal section adds approximately 140,000 tonnes to the current resource of the orebody. Based on this summary calculation, drill holes #2 and #3 may have added more than 300,000 tonnes to the current Wim resource.
The current NI 43-101 compliant Inferred resource at the Wim deposit (prior to this drilling) stands at:
|
GRADE |
CONTAINED METAL |
| DEPOSIT |
TONNAGE (tonnes) |
Cu |
Zn |
Au |
Ag |
Cu (lbs) |
Zn (lbs) |
Au (oz) |
Ag (oz) |
| WIM* |
2,062,000 |
1.92% |
0.26% |
1.65% |
5.58% |
87,333,000 |
11,943,000 |
110,000 |
370,000 |
* Based on 2% Copper equivalent cut-off grade. Base case Inferred Resource estimate based on assumed underground mining methods, calculated In March of 2007.
The Wim property covers approximately 28 square kilometres and is 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. Murgor is also earning a 50% interest from HudBay, in two large-scale grassroots projects covering 186,104 hectares of extremely prospective ground. All properties are located in the Flin-Flon greenstone belt of Manitoba and Saskatchewan.
COMPLETE TABLE OF RESULTS
| Hole Number |
From
(m) |
To
(m) |
Core Length
(m) |
Horiz. Width
(m)
|
True Width
(m) |
Cu
(%) |
Au
(g/t) |
Ag
(g/t) |
Remarks |
| WZS07-001 |
427.10 |
438.20 |
11.10 |
11.39 |
8.86 |
2.83 |
3.35 |
12.49 |
Infill Hole |
| WZS07-002 |
401.57 |
403.80 |
2.23 |
2.27 |
1.60 |
2.24 |
1.13 |
8.62 |
Extended Zone by 80m to SE |
| WZS07-003 |
331.01 |
337.41 |
6.40 |
8.49 |
6.00 |
Pending |
Pending |
Pending |
Extended Zone by 120m to SE |
| WZS07-004 |
Hole Abandoned due to excessive deviation |
| WZS07-005 |
575.80 |
577.78 |
1.98 |
2.00 |
1.56 |
Pending |
Pending |
Pending |
Missed Target |
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.
Neil W. Richardson P.Geo. and Jean-Philippe Desrochers, P.Geo. respectively Manager of Central Canada Exploration and Vice-President Exploration for Murgor Resources Inc. are Qualified Person as defined by NI-43-101 and are responsible for the technical information presented in this press release.
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
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.