MURGOR RESOURCES STARTS DRILLING COPPER-GOLD TARGETS AT THE
WIM-EXTENSION PROPERTY IN SNOW-LAKE MANITOBA
Kingston, Ontario, February 09, 2010 - Murgor
Resources Inc. (MGR: TSX-V) announces the start of a drilling program at its
100% owned Wim Extension copper-gold property in Snow-Lake Manitoba..
Murgor is starting a 1,750 meter drilling program this week at the Wim
Extension property to test a minimum of five high-priority VTEM targets
outlined in 2008 and 2009 (VTEM is a helicopter-borne, high resolution,
electromagnetic geophysical survey). All targets consist of good
conductors, locally coincident with magnetic highs and occurring at depths
below historical geophysical coverage. None of the targets have ever been
drill-tested. Two of the anomalies occur on the mineralized horizon which
hosts the Wim copper-gold deposit (also 100% Murgor owned).
These are very intriguing geophysical anomalies occurring in a
highly prospective geological environment. All targets show characteristics
equal or better than the anomaly coinciding with the Wim deposit. We are
looking forward to seeing the drill core, said Andr� C. Tessier,
President and CEO of Murgor Resources.
About the Wim Extension
Property:
Murgor acquired a 100% interest in the Wim Extension property through staking
in 2007-2009. The property consists of 15 claims covering a total of 24.6 square
kilometers. The Wim Extension property surrounds the Wim Deposit Property
where Murgor also owns a 100% interest and HudBay Minerals owns a right of
buyback of up to 65%. Both properties are located only 16 kilometers
north of the Town of Snow Lake Manitoba where HudBay owns an operating
mill that will be upgraded to treat the mineralization from the Lalor Lake
Mine. The close proximity of the Wim deposit to existing infrastructure,
combined with the shallow depth of the mineralization would allow for a quick
development of the project with minimal capital expenditure and environmental
footprint.
In the past three years, Murgor increased the tonnage at Wim by a factor of
130% including a 60% increase in the contained copper and a 170% increase in
the contained ounces of gold (based on a 2.0% copper equivalent cut-off
grade). Furthermore more than 85% of the mineral resource has been
upgraded to the Indicated category.
Metallurgical testing of the mineralization at the Wim deposit, showed that
copper recoveries of 92% are achieved, producing a final high-grade copper
concentrate averaging 32.6% copper.
The most recent 43-101 compliant resource estimate at the Wim deposit was
announced by Murgor in a press release dated September 09, 2008 and the
complete report is available at www.murgor.com. Current mineral resource
at Wim is as follows:
INDICATED CATEGORY
CUT-OFF
TONNAGE
GRADE
CONTAINED METAL**
GRADE*
( Metric
Tonnes)
Cu
Zn Au
Ag
Cu (lb)
Zn (lb)
Au (oz) Ag
(oz)
2.0% Cu
Equiv
2,776,787
1.94% 0.30% 1.88 g/t 7.53
g/t 118,763,000
18,365,000
168,000 672,000
2.5% Cu
Equiv.
1,805,382 2.20%
0.35% 2.30 g/t 8.56
g/t
87,564,000 13,931,000
134,000 497,000
CUT-OFF
TONNAGE
GRADE
CONTAINED METAL**
GRADE*
( Metric Tonnes)
Cu
Zn Au
Ag
Cu
(lb) Zn
(lb) Au
(oz) Ag (oz)
2.0% Cu
Equiv
445,999
1.12% 0.43% 2.11
g/t 5.06 g/t
11,013,000
4,228,000 30,000
73,000
2.5% Cu Equiv.
219,310
1.22% 0.47% 2.57
g/t 5.55 g/t
5,899,000
2,272,000
18,000 39,000
* Copper
equivalent grade based on US$1.75 per lb Copper, US$0.80 per lb Zn, US$700 per
oz Au and US$10 per oz Ag.
** Figures rounded to nearest 1,000.
About Murgor Resources
Murgor Resources Inc. is
a mineral exploration and development company focused on copper, zinc and gold
deposits. The company is earning a 100% interest in three deposits,
adjacent to the Snow Lake and Flin Flon mining districts of Manitoba, from
HudBay Minerals Inc. (TSX:HBM). Murgor is also exploring an exceptional portfolio
of gold properties in proven mining districts of Canada, owns a 1% NSR royalty
in the Barry Gold Mine and an interest in the advanced Windfall Gold Project in
Quebec.
Andr� C. Tessier, P.Eng (Qc), P.Geo and President of Murgor
Resources, is a Qualified Persons, as defined by NI-43-101 and is responsible
for this news release and the technical information it contains.
FOR FURTHER INFORMATION PLEASE VISIT MURGOR'S WEBSITE AT
WWW.MURGOR.COM OR CONTACT:
Andr� C. Tessier, President & CEO
MURGOR RESOURCES INC.
Tel: (613) 546-7503 or 1-888-891-3330
Fax: (613) 546-7318
