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Cours Or & Argent

Murgor Resources Inc.

Publié le 30 août 2008

COMPLETES NI 43-101 RESOURCE ESTIMATE AT THE HUDVAM D

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Mots clés associés :   Canada | Copper | Zinc |
Murgor

MURGOR COMPLETES NI 43-101 RESOURCE ESTIMATE AT THE HUDVAM DEPOSIT AND INCREASES ITS COPPER-GOLD-ZINC RESOURCE

Montreal, Quebec, August 28, 2008
.  Murgor Resources Inc. (MGR: TSX-V) today announced the results of a new National Instrument 43-101 compliant resource estimate on the Company's Hudvam polymetallic deposit in Manitoba.

The new Hudvam resource estimate is based on a 2.0% copper equivalent cut-off grade and is highlighted by a 40% increase in the gold resource and a conversion of more than 70% of the resource to an Indicated category, relative to Murgor's 2007 NI 43-101 resource estimate (February, 2007).   Work was carried-out by Golder Associates Ltd, an internationally recognized consultant firm for Murgor.

"The size and the quality of the resource at Hudvam, continues to grow, thus confirming our geological interpretation and showing the tremendous exploration potential of the property," said Andr� Tessier, President and CEO of Murgor Resources. Given the current price of copper and gold, and the strong demand for copper concentrate, Murgor is now well-positioned to capitalize on this opportunity..

The newly estimated resource is as follows:

INDICATED CATEGORY
   

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

2.0%  Cu Equiv             854,076             1.22%    1.78%    3.82 g/t   13.84 g/t        23,008,000     33,541,000    105,000      380,000
2.5%  Cu Equiv.            680,657             1.38%    1.98%    4.33 g/t   15.38 g/t        20,640,000     29,654,000      95,000      337,000              

*  Copper equivalent grade base on US$1.75 per lbs Copper, US$0.80 per lbs Zn, US$700 per oz Au and US$10 per oz Ag.
** Figures rounded to nearest 1,000.


INFERRED CATEGORY
   

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

2.0%  Cu Equiv          502,901                 0.79%    1.33%   3.25 g/t   6.96 g/t            8,759,000     14,746,000       53,000      113,000
2.5%  Cu Equiv.         338,557                 0.85%    1.46%   3.96 g/t   7.36 g/t            6,345,000     10,898,000       43,000        80,000              

*  Copper equivalent grade base on US$1.75 per lbs Copper, US$0.80 per lbs Zn, US$700 per oz Au and US$10 per oz Ag.
** Figures rounded to nearest 1,000.

   
This NI 43-101 compliant resource estimate at Hudvam takes into account the 13,553 metres in 51 drill holes drilled on the property by Murgor in 2007 and 2008, in addition to the 115 historical drill holes on the deposit that were validated by Murgor.  The estimate does not, however, include Murgor's new discovery of Hole 44 where 2.17 g/t Au, 1.11% Cu, 0.76% Zn and 13.30 g/t Ag over 5.82 metres were intersected between Zones 1 and 3, and previously disclosed on March 20th, 2008 (section is attached to this press release at www.murgor.com).    Murgor's near-term follow-up work at Hudvam will include a drill program to better define the potential new lens intersected by hole 44, between Zones 1 and 3 and to further test a new mineralized horizon in the stratigraphic hangingwall of the current mineralization.

Due to the polymetallic nature of the Hudvam deposit, cut off grades were calculated in copper equivalencies based on the following price of metals: Copper (Cu) = US$1.75 per pound, Zinc (Zn) = US$0.80 per pound, Gold (Au) = US$700.00 per troy ounce, and Silver (Ag) = US$10.00 per troy ounce.  These prices may be considered conservative, considering the near-term commencement of operations and 3-5 year mine life.

Golder estimated the Hudvam resource using density weighted inverse square distance interpolation method, using 557 measured density values and 3,933 calculated density values with a mean of 3.37 g/cm3.  Crown pillars for both zones 1 and 3 may account for approximately 10% of the indicated resource.  Note: Mineral Resources are not mineral reserves and do not have demonstrated economic viability.

The Hudvam resource estimate update, reported in this press release was directed by Greg Grenough, P.Geo. and Paul Palmer, P.Eng, of Golder Associates Ltd; both are Qualified Person as defined by NI-43-101. The NI 43-101 technical report will be filed on SEDAR in its entirety within 45 days following the date of this press release.

About the Hudvam Deposit:

The Hudvam deposit is located 47 kilometres north-east of the Town of Flin Flon Manitoba, where HudBay Minerals Inc. operates a concentrator, a copper smelter and a zinc plant.  The deposit already has an access ramp, nearly 250 metres long, that could be rehabilitated for quick development of the deposit, with low capital expenditures. 

About Murgor Resources

Murgor Resources Inc. is a mineral exploration and development company focused on copper, zinc and gold deposits. Late in 2006, the company signed agreements with HudBay Minerals (TSX:HBM), acquiring the right to earn a 100% interest in three deposits. Prior to the 43-101 compliant resource estimate at Hudvam, presented in this press release, the combined NI 43-101 compliant Inferred resource for these three properties amounted to an aggregate of 7.8 million metric tonnes mineralization. The breakdown contained: 143.1 million pounds of copper, 430.2 million pounds of zinc, 221,000 ounces of gold and 2.5 million ounces of silver (not including the new potential resource outlined in 2007-2008 at the Wim deposit). Murgor also acquired from HudBay a 50% interest in two highly prospective grassroots properties, covering more than 1,850 square kilometres adjacent to the Snow Lake and Flin Flon, Manitoba mining districts. The exploration targets for Murgor consist of polymetallic massive sulphide deposits in one of the most prolific greenstone belts in Canada and the world.

For more information, please visit Murgor's website at www.murgor.com or contact:
 
Andr� C. Tessier, President and CEO                                      Joanna Longo          
MURGOR RESOURCES INC.                                                    Investor Relations - The Equicom Group
Tel: (613) 546-7503 or 1 888 891-3330                                   Tel: (416) 815-0700 ext. 233 or 1 800 385-5451
Fax:  (613) 546-7318                                                                    Fax: (416) 815-0080
E-mail: info@murgor.com                                                           E-mail: jlongo@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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Cours de l'or et de l'argent pour les pays mentionnés : Canada | Tous

Murgor Resources Inc.

PRODUCTEUR
CODE : MGR.V
ISIN : CA62660P4024
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Murgor est une société de production minière de zinc et de cuivre basée au Canada.

Murgor détient divers projets d'exploration au Canada.

Son principal projet en production est FLIN-D au Canada et ses principaux projets en exploration sont 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 et ELMTREE GOLD au Canada.

Murgor est cotée au Canada et aux Etats-Unis D'Amerique. Sa capitalisation boursière aujourd'hui est 1,2 millions CA$ (986 887 US$, 923 332 €).

La valeur de son action a atteint son plus haut niveau récent le 07 août 2020 à 1,89 CA$, et son plus bas niveau récent le 07 mars 2023 à 0,01 CA$.

Murgor possède 123 430 000 actions en circulation.

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Rapports annuels de Murgor Resources Inc.
2008 Annual Report
Financements de Murgor Resources Inc.
03/07/2009Announces the Closing of Private Placement
06/05/2008ANNOUNCES THE COMPLETION OF A $2.3 MILLION PRIVATE PLACEMENT
24/04/2008ANNOUNCES MAXIMUM $2.3 MILLION PRIVATE PLACEMENT
06/12/2007announces closing of $1.6 million private placement
Attributions d'options de Murgor Resources Inc.
15/07/2010Grant of 1,125,000 stock options
23/05/2008Grant of 1.239.174 stock options
Nominations de Murgor Resources Inc.
15/05/2008APPOINTS NEW VICE-P
Projets de Murgor Resources Inc.
10/02/2011(Golden Arrow Mine)INTERSECTS MORE GOLD, UNDERNEATH THE OPEN PIT AT THE GOLDEN ...
24/09/2009(Fancamp)Announces Trenching Returns at Fancamp Gol
17/09/2009(Hudvam)EARNS 100% INTEREST FROM HUDBAY AT THE WIM COPPER-GOLD AND H...
27/08/2009(Premiere Property)Murgor Resources Acquires Red Lake Gold Properties
12/02/2009(Fon) Announces Drilling at Abbott Lake, SK
18/09/2008(Hudvam)ANNOUNCES METALLURGICAL RESULTS AT THE HUDVAM AND WIM DEPOSI...
09/09/2008(Wim)'S NEW NI 43-101 RESOURCE ESTIMATE
30/08/2008(Hudvam)COMPLETES NI 43-101 RESOURCE ESTIMATE AT THE HUDVAM D
15/05/2008(Hudvam)DRILLS MORE HIGH GRADE GOLD A
09/05/2008(Hudvam)'S NEW DISCOVERY YIELDS SIGNIFICANT GRADES OVER MINEAB
23/04/2008(Hudvam)RELEASES FURTHER HIGH GRADE GOLD ASSAYS FROM THE HUDVAM COPP...
01/04/2008(Wim)DRILLING EXTENDS THE NEW UPPE
31/03/2008(Mishibishu) AND JOINT VENTURE PARTNER AWAIT GEOCHEMICAL RESULTS F
Communiqués de Presse de Murgor Resources Inc.
12/03/2015IIROC Trading Halt - MGR
10/03/2015Alexandria Minerals Acquisition of Murgor Resources Complete...
23/12/2014Alexandria Minerals Corporation to acquire Murgor Resources ...
03/06/2014acquires Wydee property in proximity to the Young Davidson G...
07/04/2014to sell royalties on Quebec properties
01/04/2014completes the sale of its remaining interest at Windfall
13/03/2014agrees to sell its remaining windfall property interest to E...
24/10/2013(Fancamp)signs option agreement with TomaGold Corporation at the Fanc...
27/05/2013Completes Sale of Benoist and Waconichi Properties for Total...
13/03/2013to sell its net smelter return royalty at the Barry 1 Proper...
09/02/2010Starts Drilling Copper-Gold Targets At the WIM-extension
14/01/2010Starts Exploration work on its Red Lake Gold properties
10/09/2009Fundamental research renews recommandation for Murgor
01/09/2009 Announces CNME Acquires 14.95% interest in
14/11/2008Announces First Closing of $403,000 Private
10/11/2008CEO Monthly Newsletter - November 2008
05/09/2008September 2008 Newsletter
27/06/2008SUMMARY OF RECENT EXPLORATION DEVELO
23/06/2008June 2008 Newsletter
18/06/2008ANNOUNCES A SIGNIFICANT SIZE
26/05/2008FUNDAMENTAL RESEARCH INITIATES COVER
09/05/2008- May 2008 Newsletter
07/02/2008February 2008 Newsletter
01/02/2008RETAINS LEADING INVESTOR RELA
30/01/2008ANNOUNCES RIGHTS OF
24/11/2007 ANNOUNCES SHARE CONSOLIDATION
15/11/2007RETAINS GOLDER ASSOCIATES FOR PRELIMINARY FEASIBILITY STUDIE...
06/11/2007 Bulletin de Novembre 2007
17/10/2007LE TROU DE FORAGE #3 DE MURGOR AU GISEMENT DE WIM
11/10/2007EXTENDS WIM COPPER-GOLD DEPOSIT
29/08/2007starts drilling at the Wim deposit in northern Manitoba
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