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Message: NR
Montreal, Quebec, February 28, 2008. Murgor Resources Inc. (MGR: TSX-V) today announced the results of a detailed data compilation and new structural interpretation of the Fon deposit in Saskatchewan. The study outlines a thick mineralized zone lying between surface and 150 meters depth, ranging from 1,200,000 tons to 3,900,000 tons with an average grade of 2.1% Zn (ranging from 1.4% Zn to 3.6% Zn) and yielding a potential 51,300,000 to 162,200,000 pounds of Zinc.
This near-surface zone would increase the zinc resource at the Fon deposit, by adding a low-grade component to the already defined resource. Additional drilling will be required to define a NI 43-101 compliant mineral resource for that part of the deposit.
The potential quantities and grades are based on 21 drill holes and a measured density of 3.08 g/cubic centimetre. The target mineralized zone is up to 250 metres long, has an average width of 45 metres and a depth of up to 150 metres from surface. The geological target consists of a previously unrecognized doubly plunging fold hinge that reaches surface between sections 2950E and 3150E. A section of the new interpretation is attached to this press release on Murgor’s website at www.murgor.com.
The newly defined target consists of a small part of the overall deposit at Fon which has a strike length of 1.3 kilometres, a depth extent of at least 760 metres, and where the current NI 43-101 compliant inferred resource at the Fon deposit is as follows (see SEDAR for complete study):
CUT-OFF TONNAGE GRADE CONTAINED METAL
GRADE (Tons)
1% Zinc 5,007,888 3.73% Zn, 0.25% Cu, 0.35 oz/ton Ag 373,588,445 lbs Zn, 25,039,440 lbs Cu, 1,752,761 oz Ag
3.5% Zinc 1,677,377 6.79% Zn, 0.27% Cu, 0.54 oz/ton Ag 227,787,797 lbs Zn, 9,057,836 lbs Cu, 905,784 oz Ag
André C. Tessier, President and CEO, of Murgor said, “This is a very exciting new interpretation at Fon. The new zone, as interpreted, would significantly increase the zinc resource at Fon by allowing Murgor to consider up to 4.5 million tons of lower grade, near-surface material, amenable to open pit mining that was previously deemed sub-economic. Murgor’s objective is to evaluate the Fon deposit by combining the lower-grade near surface material with the higher-grade mineralization already defined at depth. In its next phase of drilling at Fon, Murgor will continue to test the high grade extensions of the Lower Red and Lower Blue lenses, respectively with grades of 16.14% zinc and 9.84% zinc while evaluating this new geological target.”
The Fon property is located in north-eastern Saskatchewan, approximately 40 kilometres west of the town of Flin Flon, Manitoba and two kilometres south of Highway 106. Murgor is earning a 100% interest from HudBay Minerals, in approximately 24 square kilometres of the property where the Fon and Abbott Lake deposits (195,000 tons @ 2.53% Cu, 0.77% Zn, 49.04 g/t Ag historical resource not NI 43-101 compliant) are located. An additional 14.4 square kilometre area of the property is wholly owned by Murgor.
Dr. Jean-Philippe Desrochers, P.Geo. and Neil W. Richardson P.Geo. respectively Vice-President Exploration and Manager of Central Canada Exploration for Murgor Resources are the Qualified Persons as defined by NI-43-101 and are responsible for the technical information presented in this press release. The potential size and grade of the target was calculated by consulting mining engineer George McIsaac, P.Eng. and also a Qualified Persons as defined by NI-43-101.
The potential quantity and grade of the geological target described in this press release is conceptual in nature and to date, there has been insufficient exploration to define a mineral resource on that portion of the Fon deposit. Therefore, the reader should be aware that it is uncertain if further exploration will result in the discovery of a near surface mineral resource.
This near-surface zone would increase the zinc resource at the Fon deposit, by adding a low-grade component to the already defined resource. Additional drilling will be required to define a NI 43-101 compliant mineral resource for that part of the deposit.
The potential quantities and grades are based on 21 drill holes and a measured density of 3.08 g/cubic centimetre. The target mineralized zone is up to 250 metres long, has an average width of 45 metres and a depth of up to 150 metres from surface. The geological target consists of a previously unrecognized doubly plunging fold hinge that reaches surface between sections 2950E and 3150E. A section of the new interpretation is attached to this press release on Murgor’s website at www.murgor.com.
The newly defined target consists of a small part of the overall deposit at Fon which has a strike length of 1.3 kilometres, a depth extent of at least 760 metres, and where the current NI 43-101 compliant inferred resource at the Fon deposit is as follows (see SEDAR for complete study):
CUT-OFF TONNAGE GRADE CONTAINED METAL
GRADE (Tons)
1% Zinc 5,007,888 3.73% Zn, 0.25% Cu, 0.35 oz/ton Ag 373,588,445 lbs Zn, 25,039,440 lbs Cu, 1,752,761 oz Ag
3.5% Zinc 1,677,377 6.79% Zn, 0.27% Cu, 0.54 oz/ton Ag 227,787,797 lbs Zn, 9,057,836 lbs Cu, 905,784 oz Ag
André C. Tessier, President and CEO, of Murgor said, “This is a very exciting new interpretation at Fon. The new zone, as interpreted, would significantly increase the zinc resource at Fon by allowing Murgor to consider up to 4.5 million tons of lower grade, near-surface material, amenable to open pit mining that was previously deemed sub-economic. Murgor’s objective is to evaluate the Fon deposit by combining the lower-grade near surface material with the higher-grade mineralization already defined at depth. In its next phase of drilling at Fon, Murgor will continue to test the high grade extensions of the Lower Red and Lower Blue lenses, respectively with grades of 16.14% zinc and 9.84% zinc while evaluating this new geological target.”
The Fon property is located in north-eastern Saskatchewan, approximately 40 kilometres west of the town of Flin Flon, Manitoba and two kilometres south of Highway 106. Murgor is earning a 100% interest from HudBay Minerals, in approximately 24 square kilometres of the property where the Fon and Abbott Lake deposits (195,000 tons @ 2.53% Cu, 0.77% Zn, 49.04 g/t Ag historical resource not NI 43-101 compliant) are located. An additional 14.4 square kilometre area of the property is wholly owned by Murgor.
Dr. Jean-Philippe Desrochers, P.Geo. and Neil W. Richardson P.Geo. respectively Vice-President Exploration and Manager of Central Canada Exploration for Murgor Resources are the Qualified Persons as defined by NI-43-101 and are responsible for the technical information presented in this press release. The potential size and grade of the target was calculated by consulting mining engineer George McIsaac, P.Eng. and also a Qualified Persons as defined by NI-43-101.
The potential quantity and grade of the geological target described in this press release is conceptual in nature and to date, there has been insufficient exploration to define a mineral resource on that portion of the Fon deposit. Therefore, the reader should be aware that it is uncertain if further exploration will result in the discovery of a near surface mineral resource.
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