Murgor Resources Discovers Deep Gold Zone Below the Golden Arrow Deposit and Two New Parallel Zones

KINGSTON, ON, Oct. 6, 2011 /CNW/ - Murgor Resources Inc. (TSXV:MGR.V) today announced new drill results from the first four drill holes of its current drilling program at the Golden Arrow Gold project, located 65 kilometres east of Timmins, Ontario.  The current drill program is designed to test the Golden Arrow Fault, north-east and off-plunge of the currently known mineralized zone, and at depths of up to 450 metres below surface.  The drill holes are also designed to intersect structures newly interpreted by Murgor, that are parallel to the Golden Arrow mineralized zone.

"Hitting economic-grade mineralization in our first four drill holes on two new structures, not to mention having our first deep drill hole at the property return wide intercepts of mineralization, has exceeded our expectations.  So far, the results from our second phase of drilling shows potential for identifying new zones amenable to bulk underground mining in addition to the zones we have already identified as amenable to potential open pit mining at Golden Arrow. Drilling continues on our flagship property and we are eagerly awaiting assays for another four drill holes," says Andr� Tessier, President and CEO of Murgor Resources.

The drilling so far indicates that the Main Mineralized Zone extends to a depth of at least 325 m (which represents a 200 m step-out from the nearest known mineralization to date).   The drilling also shows the Main Zone to be flanked by at least two parallel zones, one located approximately 100 m to the east and the other 100 m to the west.  The East and West Zones have both been interpreted from the new high-resolution magnetic survey recently completed at Golden Arrow and had never before been tested or detected (see news release dated October 4, 2011). 

�         The West Zone discovery is highlighted by intersections of 9.95 g/t Au over 7 m, 6.46 g/t Au over 6 m and 9.89 g/t Au over 1.5 m.

�         The East Zone discovery is highlighted by a wide intercept of 33.0 m grading 1.48 g/t Au, which includes zones of 2.51 g/t Au over 14.0 m and 3.30 g/t Au over 8 m.  This new intersection is located at a vertical depth of 425 metres. Over 200m deeper than any historical drill hole at the property.

�         The deep extension of the Main Zone returned 52 m of 1.47 g/t Au including zones of 2.26 g/t Au over 18 m and 2.76 g/t Au over 8 m.

�         The Main Zone also returned intersections of unusually high grade mineralization including two one-metre intervals of 34.9 g/t Au and 20.0 g/t Au.

The syenite-hosted gold mineralization at Golden Arrow consists of a stockwork of quartz veins and veinlets enclosed in a halo of pink to brick-red potassic alteration with 2-3% disseminated pyrite.  This style of gold mineralization is very similar to the syenite-hosted gold mineralization at the Young-Davidson Mine located approximately 50 km south of Golden Arrow where Northgate Minerals Corp. has now defined reserves in excess of 2.8M ounces gold at similar grades (Northgate Minerals Corp. 43-101 Technical Report, January 23, 2009, available on SEDAR).  Through drilling, Murgor is currently testing this hypothesis.  

To date, Murgor has completed 34 drill holes at the property for a total of nearly 8,500 metres. Drilling continues at the property and the remaining drill holes of Phase II will test the depth extent of the mineralized zones below 300 meters vertical. Results of drill holes A11-32 to A11-34 are pending while drill hole A11-35 is nearing completion.  The ongoing phase two of drilling will continue well into 2012.

Please click here to see sections of the drilling results and a magnetic map or visit our website at www.murgor.com.

Gold analyses reported in this release were performed by standard fire assay using a one assay ton aliquot with a gravimetric finish.  All assays were performed by Activation Laboratories Ltd. in Timmins, Ontario. Sampling and analytical procedures are subject to Murgor's comprehensive Quality Assurance and Quality Control program.  The QA-QC program includes duplicate samples, blanks and analytical standards.

About the Golden Arrow Gold Mine

The Golden Arrow property consists of 17 mining patents and leases, and four mining claims covering 723 hectares in Hislop Township and located 65 kilometres east of the City of Timmins in Ontario.  In 1981 and 1982, a total of 279,593 tons of ore was mined at a grade of 0.061 oz/t (2.09 g/t) from the Arrow open pit.  Mining ceased due to low gold prices.

The property was originally explored underground in the 1940's to by the Golden Arrow Mining Company Ltd. who sank a shaft to a depth of 435 ft (130 m) below surface and undertook about 700 m of horizontal development on the 250 ft (76 m) and 400 ft (122 m) levels.

The Golden Arrow property is underlain by mafic flows and syenite intrusions with younger post mineral diabase dikes. Gold mineralization is generally hosted within a syenite intrusion and consists of a stockwork of quartz veinlets situated within a broader halo of pink to brick-red potassic alteration.  Mineralized zones are related to a NE-SW structure associated with the Porcupine-Destor Fault Zone.  The property covers a two kilometre strike extent of this NE-SW structure.  The Golden Arrow gold deposit is located 9 km SW of the past-producing Ross Gold Mine which produced nearly one million ounces of gold between 1936 and 1989.  Also located in Hislop Twp are the presently producing Hislop Mine of St Andrew Goldfields Ltd. and the Black Fox Mine of Brigus Gold Corp.  Please visit www.murgor.com for additional information about the Golden Arrow Gold Mine.

About Murgor Resources

Murgor Resources Inc. is a mineral exploration and development Company focused on near-term production at the Golden Arrow Gold Mine in Ontario.  Murgor also owns a 100% interest in two gold-copper deposits in the Snow Lake and Flin Flon mining districts of Manitoba.  The company further owns an exceptional portfolio of gold properties in proven mining districts of Canada, as well as a 1% NSR royalty in the Barry Gold Mine and the Windfall Gold Project in Qu�bec.

The table below shows the total 43-101 compliant resource for Murgor's Hudvam and Wim deposits.

For statement of resources, see Murgor Press Releases: Aug. 28, 2008 for Hudvam and Sept. 09, 2008 for Wim.

The technical information in this news release has been reviewed by Mr. Randall Salo, P.Geo, a qualified person in accordance with Canadian regulatory requirements as set out in National Instrument 43-101.

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.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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