Murgor Drilling discovers a new zinc zone at the Fon deposit and extends the Blue, Brown and Red zones.
Thu Aug 16, 7:02 AM
http://ca.news.finance.yahoo.com/s/16082007/30/link-finance-news-murgor-drilling-discovers-new-zinc-...
MONTREAL, Aug. 16 /CNW Telbec/ - Murgor Resources Inc. (MUG: TSX-V) is pleased to announce the results from its latest drilling program at the Fon deposit in north-eastern Saskatchewan. The drilling program was carried out from February to April of 2007, and consisted of twelve (12) drill holes for a total of 3,805 meters. Publication of the results was delayed due to QA-QC verification procedures by Murgor and delays at the geochemical laboratory.
Of the twelve drill hole program, six (6) consisted of infill and twin holes designed to confirm Murgor's NI 43-101 resource estimate at Fon and six (6) consisted of exploration holes designed to increase the existing resource by extending the current limits of the ore lenses (all the drill hole results of this program are reported at the end of this press release).
Every drill hole of the drilling program has intersected multiple sulphide lenses including a new mineralized horizon sitting in the hanging wall of the Blue Lens. This new mineralized horizon (the Pink Zone) was intersected by five drill holes with results of up to 5.46% Zn, 1.05 g/t Au and 51.73 g/t Ag over 1.36 metres. Furthermore, exploration drill holes have extended known lenses as follows:
- The Blue Lens was extended by up to 80 metres by three exploration
holes (FZS-07-002, 003 and 007),
- The Brown Lens was extended by 70 metres up-dip, with drill hole FZS-
07-007, and
- The Red Upper Lens was extended by 200 metres up-dip, with drill hole
FZS-07-010.
Highlights of the program include intersections of 10.66% Zn and 44.62 g/t
Ag over 2.89 metres, 9.50% Zn and 38.47 g/t Ag over 1.64 metres, 8.26% Zn and
46.44 g/t Ag over 4.11 metres, 8.67 % Zn and 39.00 g/t Ag over 0.99 metres,
7.23% Zn and 49.91 g/t Ag over 1.34 metres, 6.32% Zn and 17.93 g/t Ag over
6.33 metres, and, 5.04% Zn and 19.96 g/t Ag over 6.81 metres (all calculated
true widths are reported in table below).
"We are very excited about these results and are looking forward to our
next phase of drilling at Fon," says Andre C. Tessier, President and CEO of
Murgor Resources. "Especially once we combine our new findings with the
results of our geophysical surveys on the property. The new Pink Zone opens up
a whole new sector of the deposit that we are anxious to explore in further
detail. Discoveries of new zones often happen in these multiple-lens deposits
and Murgor is counting on the extensions of known zones as well as the
discovery of new zones to expand the high grade zinc resource at Fon."
Murgor is earning a 100% interest in the Fon Deposit, optioned from HudBay
Minerals Inc. (HBM: TSX) in September of 2006, along with the Hudvam, Wim,
Abbott Lake and Tyr deposits. The Fon, Hudvam and Wim deposits have a combined
NI 43-101 compliant Inferred resource of: 6,798,000 metric tonnes of ore,
containing 143,150,000 pounds of copper, 430,251,000 pounds of zinc,
221,000 ounces of gold and 2,526,000 ounces of silver (see the complete table
of resources at the end of this press release). Murgor is also earning a 50%
interest from HudBay, in two large-scale grassroots projects covering
186,104 hectares of extremely prospective ground. All properties are located
in the Flin-Flon greenstone belt of Manitoba and Saskatchewan.
The current NI 43-101 compliant resource at the Fon deposit is as follows
(see Murgor press release February 20, 2007):
CUT-OFF TONNAGE GRADE CONTAINED METAL
GRADE (Tons)
-------------------------------
1% Zinc 5,007,888 3.73% Zn, 0.25% Cu, 373,588,445 lbs Zn,
0.35 oz/ton Ag 25,039,440 lbs Cu,
1,752,761 oz Ag
3.5% Zinc 1,677,377 6.79% Zn, 0.27% Cu, 227,787,797 lbs Zn,
0.54 oz/ton Ag 9,057,836 lbs Cu,
905,784 oz Ag
--------------------------
The Fon property is located in north-eastern Saskatchewan, approximately
40 kilometres west of the town of Flin Flon, Manitoba. The part of the
property under option from HudBay covers approximately 24 square kilometres
with an additional 14.4 square kilometres that is 100% owned by Murgor. The
property also covers the Abbott Lake deposit. The Fon deposit is a deformed
volcanogenic massive sulphide deposit characterized by multiple lenses of
massive to semi-massive sulphide. Ore lenses are characterized by local
variations in thickness where wider and higher grade parts of the lenses are
believed to represent fold hinges. Murgor is currently completing a 3-D model
of each ore lens of the deposit to outline the higher grade and wider parts of
the deposit, in preparation for a new 43-101 resource estimate at Fon. Such
modelling was developed successfully in the past, in producing mines of the
Flin Flon and Snow Lake districts where these high grade fold hinges
contributed significantly to the economics of the deposits.
Chemical analyses reported in this press release were performed by TSL
Laboratories in Saskatoon. Base metals were analyzed through atomic absorption
spectrometry after a multi acid digestion whereas gold was analyzed by fire
assay Atomic Absorption using a 30g charge, with gravimetric finish for assays
greater than 3 g/t. Sampling and analytical procedures are subject to a
comprehensive Quality Assurance and Quality Control program that includes
duplicate samples, blanks and analytical standards.
Neil W. Richardson P.Geo. and Jean-Philippe Desrochers, P.Geo.
respectively Manager of Central Canada Exploration and Vice-President
Exploration for Murgor Resources Inc. are Qualified Person as defined by
NI-43-101 and are responsible for the technical information presented in this
press release.
TABLES OF BEST RESULTS
FON DEPOSIT INFILL HOLES (February to April, 2007)
--------------------------------------------------
-------------------------------------------------------------------------
Hole Number From To Core True Cu Zn Au Ag Horizon
Length Width
------------------------------------------------------------
(m) (m) (m) (m) (%) (%) (g/t) (g/t)
-------------------------------------------------------------------------
-------------------------------------------------------------------------
FZS07-001 42.53 44.11 1.58 1.35 0.05 5.46 1.05 51.73 PINK
-------------------------------------------------------------------------
131.76 138.09 6.33 5.61 0.11 6.32 0.10 17.93 BLUE HW
-------------------------------------------------------------------------
-------------------------------------------------------------------------
FZS07-005 167.76 168.06 0.30 0.28 0.27 7.67 NSV 17.00 New
Zone
-------------------------------------------------------------------------
-------------------------------------------------------------------------
FZS07-006 NSR
-------------------------------------------------------------------------
-------------------------------------------------------------------------
FZS07-009 435.36 438.25 2.89 2.63 0.15 10.66 NSV 44.62 BLUE
HW WEST
-------------------------------------------------------------------------
473.94 478.05 4.11 3.77 0.21 8.26 0.16 46.44 AMBER
-------------------------------------------------------------------------
-------------------------------------------------------------------------
FON DEPOSIT TWIN HOLES (February to April, 2007)
------------------------------------------------
-------------------------------------------------------------------------
Hole Number From To Core True Cu Zn Au Ag Horizon
Length Width
------------------------------------------------------------
(m) (m) (m) (m) (%) (%) (g/t) (g/t)
-------------------------------------------------------------------------
-------------------------------------------------------------------------
FZS07-004 93.64 94.66 1.02 0.89 1.11 4.08 0.62 118.40 BLUE HW
-------------------------------------------------------------------------
100.40 101.89 1.49 1.31 0.50 0.40 7.19 248.35 BLUE
FW AU
-------------------------------------------------------------------------
-------------------------------------------------------------------------
FZS07-008 220.63 221.97 1.34 1.06 NSV 7.23 NSV 49.91 RED
UPPER
-------------------------------------------------------------------------
262.43 264.58 2.15 1.71 0.19 4.86 NSV 26.29 New
Zone
-------------------------------------------------------------------------
-------------------------------------------------------------------------
FON EXPLORATION DRILL HOLES (February to April 2007)
----------------------------------------------------
-------------------------------------------------------------------------
Hole Number From To Core True Cu Zn Au Ag Horizon
Length Width
------------------------------------------------------------
(m) (m) (m) (m) (%) (%) (g/t) (g/t)
-------------------------------------------------------------------------
-------------------------------------------------------------------------
FZS07-002 59.24 59.40 0.16 0.11 NSV 23.30 NSV 76.00 PINK
-------------------------------------------------------------------------
177.77 178.40 0.63 0.47 0.15 10.66 NSV 11.00 BLUE HW
-------------------------------------------------------------------------
-------------------------------------------------------------------------
FZS07-003 179.70 180.69 0.99 0.91 0.20 8.67 NSV 39.00 BROWN
FW
-------------------------------------------------------------------------
-------------------------------------------------------------------------
FZS07-007 136.02 142.83 6.81 5.72 0.10 5.04 0.16 19.96 BLUE HW
-------------------------------------------------------------------------
Incl 149.52 151.16 1.64 1.38 0.11 9.50 0.92 38.47 BLUE HW
-------------------------------------------------------------------------
190.51 191.04 0.53 0.45 0.03 9.98 0.10 43.00 New
Zone
-------------------------------------------------------------------------
294.45 297.24 2.79 2.47 0.39 4.76 0.12 8.11 BROWN
FW
-------------------------------------------------------------------------
-------------------------------------------------------------------------
FZS07-010 60.87 61.60 0.73 0.54 0.30 6.96 NSV 34.00 RED
UPPER
-------------------------------------------------------------------------
-------------------------------------------------------------------------
FZS07-011 NSR
-------------------------------------------------------------------------
-------------------------------------------------------------------------
FZS07-012 227.00 227.15 0.15 0.13 0.32 30.20 NSV 56.00 PINK
-------------------------------------------------------------------------
TABLES OF MURGOR'S NI 43-101 RESOURCE TO DATE OF THE FON,
HUDVAM AND WIM DEPOSITS
DEPOSIT TONNAGE GRADE
(Tonnes) Cu Zn Au Ag
-------------------------------------------------------------------------
WIM* 1,062,000 1.92% 0.26% 1.65 g/t 5.58 g/t
HUDVAM* 1,193,000 1.17% 1.71% 2.94 g/t 10.49 g/t
FON(xx) 4,543,126 0.25% 3.73% - 10.88 g/t
-------------------------------------------------------------------------
TOTAL(xxx) 6,798,000
-------------------------------------------------------------------------
-------------------------------------------------------------------------
DEPOSIT CONTAINED METAL
Cu (lbs) Zn (lbs) Au (oz) Ag (oz)
-------------------------------------------------------------------------
WIM* 87,333,000 11,943,000 110,000 370,000
HUDVAM* 30,778,000 44,720,000 111,000 403,000
FON(xx) 25,039,440 373,588,445 - 1,752,761
-------------------------------------------------------------------------
TOTAL(xxx) 143,150,000 430,251,000 221,000 2,526,000
-------------------------------------------------------------------------
-------------------------------------------------------------------------
* Based on 2% Copper equivalent cut-off grade. Base case Inferred
Resource estimate based on assumed underground mining methods.
(xx) Based on 1% Zinc cut-off grade. Converted to metric tonnes.
(xxx)Figures rounded to nearest 1,000.
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.
Contacts
André C. Tessier
President & CEO
MURGOR RESOURCES INC.
(613) 546-7503 or 1-888-891-3330
Fax: (613) 546-7318
info@murgor.com
www.murgor.com
