FOR
IMMEDIATE RELEASE
DRILLING UPDATE ON TAMI - MOSI GOLD PROPERTY
October 2, 2007 - Vancouver, British
Columbia
Drilling
is progressing on Molycor Gold Corp�s (MOR-TSX.V; Frankfurt-M1V; Pink Sheets-MLYFF) Tami � Mosi project located in the Schell
Creek Range,
6.5 miles south of the town of Ely, Nevada.
To
date, 1420 feet have been drilled in two holes, TM-07-001 at site PTM-13 (total
depth 640�) and TM-07-002 at site PTM-2 total depth 780�). Both holes are
designed to test for on-strike extensions of the Tamburlaine
zone where manganese and gold had been mined sporadically in the early 1900�s
from fault-controlled silicified zones. Both holes
intersected moderate to strong iron staining and decalcification in the host
formations with intermittent silicification of the Joana limestone.
The
program consists of 15,000 feet in 25 reverse circulation rotary holes to test
four areas where gold targets have been developed along alluvium-covered
extensions of known surface mineralization combined with results from
geophysical and biogeochemical surveys designed to identify mineral-related
structures and alteration beneath shallow alluvial cover.
The
Company is encouraged by these early drilling results that have confirmed the
targeting methods of resistivity and spontaneous
potential geophysical surveys in conjunction with a biogeochemical survey, to
identify the alluvium covered fault trends, alteration and formational contact
targets.
Assays
have been submitted to ALS Chemex of Ely, Nevada
and are awaited. The drill rig has been working on 20% availability due to
maintenance issues. Drilling is now
progressing and updates will be forthcoming.
This
news release was reviewed by Dick Addison, P. Eng., a qualified person
recognized under NI 43-101.
On Behalf of Management
Edward Lee
President and Director
For all Molycor
Gold Corp. investor relations needs, investors are asked to visit the Molycor Gold Corp. IR Hub at http://www.agoracom.com/ir/molycor where they can post
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Watch Live
Interview with CEO Larry Reaugh on Molycor�s website.
Information
Contact
Edward Lee
President & Director
Head Office: 2A 15782
Marine Drive, White Rock, B.C. V4B 1E6
Telephone: 604-531-9639 Facsimile: 604-531-9634
Email: info@molycor.com
www.molycor.com
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reviewed and does not accept responsibility for the adequacy or accuracy of
this release.