FOR IMMEDIATE RELEASE
TAMI MOSI MAGNESIUM DOLOMITE RETUrNS HIGH PURITY.
RESULTS FROM HOLE #TM-08-23 and 24 RePORTED
January 20, 2009 - Vancouver, British Columbia
Molycor Gold Corp. (TSX.V-MOR; Frankfurt-M1V; Pink Sheets-MLYFF)(the �Company�) is pleased to announce Teck Cominco Global Discovery Lab in Vancouver, BC has analyzed a composite sample from the Tami Mosi property in Nevada. The sample was taken from hole #TM-07-13 over a 30 foot section from 270 � 300 feet. Hole #TM-07-13 assayed 11.40% Mg over 540 feet (164.6 meters) from a five foot depth (1.5 meters).
The result as outlined below is a pure form of Dolomite virtually identical to the National Bureau of Standards (�NBS�), �Standard 88B�:
|
Sample |
Si02
% |
Ti02
% |
Al203
% |
Fe203
% |
Mn0
% |
Mg0
% |
Ca0
% |
Na20
% |
K20
% |
P205
% |
Ba
% |
L0I
% |
Total
% |
|
Hole #TM-07-13
270ft - 300ft |
1.25 |
0.01 |
0.22 |
0.10 |
0.01 |
20.95 |
29.91 |
0.01 |
0.01 |
<0.01 |
<0.01 |
46.78 |
99.27 |
|
NBS
�Standard 88B� |
1.15 |
0.02 |
0.35 |
0.30 |
0.07 |
21.14 |
29.79 |
0.01 |
0.03 |
0.01 |
<0.01 |
46.93 |
99.80 |
Magnesium Assays
The Magnesium/Dolomite strike distance is indicated to be 8,500 feet (2,600 meters) between holes TM-07-03 and TM-08-24 (see press release dated March 14, 2008).
Results from the drilling in 2008 at the Tami Mosi are as follows:
|
Hole # |
From/To
(Feet) |
From/To
(Meters) |
Width
(Feet) |
Width
(Meters) |
% Mg |
|
TM-08-23 |
165 � 520 |
50 � 158 |
355 |
108 |
11.98% |
|
TM-08-24 |
75 � 390 |
23 � 119 |
315 |
96 |
11.24% |
Assays were performed by ALS Chemex Laboratories located in Vancouver, BC.
Hole number TM-08-23 ended at 520 feet grading 12.85% Mg and hole number TM-08-24 ended at 390 feet grading 12.60% Mg.
Drill holes in the manganese discovery area did not encounter any significant manganese. Only two holes were drilled in the magnesium discovery area.
The United States currently sources its Magnesium largely from overseas. Russia and China have been restricted from importing to the United States by anti dumping duties.
The demand for this light metal has grown dramatically and the result is felt in the market. Magnesium currently trades at $2.30/lb as reported by MetalPrices.com on January 11, 2009.
This press release has been reviewed by John W. Fisher, P.Eng, a qualified person under NI 43-101.
On Behalf of Management
Larry W. Reaugh
Chief Executive Officer
For all Molycor Gold Corp. investor relations needs, investors are asked to visit the Molycor Gold Corp. website at www.molycor.com.
Information Contact
Larry W. Reaugh
Chief Executive Officer
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
Cautionary Notice: The Reader is cautioned that the full Cautionary Notice is not attached to this email. The reader is requested to access the news release on the Company�s website at www.molycor.com or at SEDAR at www.sedar.com to read the full Cautionary Notice. The full Cautionary Notice is not attached as the recipient�s spam filters frequently block receiving emails containing the full Cautionary Notice.