Greenstone Belt - The richest in Canada per km²

Exploration & Development of zinc, copper & gold assets in Canada.

Free
Message: NR-Murgor starts drilling Cu-Au targets at the Wim-Ext. Pty in Snow Lk. MB

NR-Murgor starts drilling Cu-Au targets at the Wim-Ext. Pty in Snow Lk. MB

posted on Feb 09, 2010 09:47AM

Murgor Resources starts drilling copper-gold targets at the Wim-Extension property in Snow-Lake Manitoba

	    KINGSTON, ON, Feb. 9 /CNW Telbec/ - Murgor Resources Inc. (MGR: TSX-V)
announces the start of a drilling program at its 100% owned Wim Extension
copper-gold property in Snow-Lake Manitoba.
	    Murgor is starting a 1,750 meter drilling program this week at the Wim
Extension property to test a minimum of five high-priority VTEM targets
outlined in 2008 and 2009 (VTEM is a helicopter-borne, high resolution,
electromagnetic geophysical survey). All targets consist of good conductors,
locally coincident with magnetic highs and occurring at depths below
historical geophysical coverage. None of the targets have ever been
drill-tested. Two of the anomalies occur on the mineralized horizon which
hosts the Wim copper-gold deposit (also 100% Murgor owned).
	    These are very intriguing geophysical anomalies occurring in a highly
prospective geological environment. All targets show characteristics equal or
better than the anomaly coinciding with the Wim deposit. We are looking
forward to seeing the drill core, said André C. Tessier, President and CEO of
Murgor Resources.

	    About the Wim Extension Property:

	    Murgor acquired a 100% interest in the Wim Extension property through
staking in 2007-2009. The property consists of 15 claims covering a total of
24.6 square kilometers. The Wim Extension property surrounds the Wim Deposit
Property where Murgor also owns a 100% interest and HudBay Minerals owns a
right of buyback of up to 65%. Both properties are located only 16 kilometers
north of the Town of Snow Lake Manitoba where HudBay owns an operating mill
that will be upgraded to treat the mineralization from the Lalor Lake Mine.
The close proximity of the Wim deposit to existing infrastructure, combined
with the shallow depth of the mineralization would allow for a quick
development of the project with minimal capital expenditure and environmental
footprint.
	    In the past three years, Murgor increased the tonnage at Wim by a factor
of 130% including a 60% increase in the contained copper and a 170% increase
in the contained ounces of gold (based on a 2.0% copper equivalent cut-off
grade). Furthermore more than 85% of the mineral resource has been upgraded to
the Indicated category.
	    Metallurgical testing of the mineralization at the Wim deposit, showed
that copper recoveries of 92% are achieved, producing a final high-grade
copper concentrate averaging 32.6% copper.
	    The most recent 43-101 compliant resource estimate at the Wim deposit was
announced by Murgor in a press release dated September 09, 2008 and the
complete report is available at www.murgor.com. Current mineral resource at
Wim is as follows:

	    <<
	    INDICATED CATEGORY

	    -------------------------------------------------------------------------
	    CUT-OFF           TONNAGE                     GRADE
	    GRADE*        (Metric Tonnes)   Cu        Zn          Au           Ag
	    -------------------------------------------------------------------------
	    2.0% Cu Equiv    2,776,787     1.94%     0.30%     1.88 g/t     7.53 g/t
	    2.5% Cu Equiv.   1,805,382     2.20%     0.35%     2.30 g/t     8.56 g/t
	    -------------------------------------------------------------------------

	    -------------------------------------------------------------------------
	    CUT-OFF                               CONTAINED METAL(xx)
	    GRADE*                Cu (lb)         Zn (lb)       Au (oz)      Ag (oz)
	    -------------------------------------------------------------------------
	    2.0% Cu Equiv      118,763,000      18,365,000      168,000      672,000
	    2.5% Cu Equiv.      87,564,000      13,931,000      134,000      497,000
	    -------------------------------------------------------------------------


	    INFERRED CATEGORY

	    -------------------------------------------------------------------------
	    CUT-OFF           TONNAGE                     GRADE
	    GRADE*        (Metric Tonnes)   Cu        Zn          Au           Ag
	    -------------------------------------------------------------------------
	    2.0% Cu Equiv      445,999     1.12%     0.43%     2.11 g/t     5.06 g/t
	    2.5% Cu Equiv.     219,310     1.22%     0.47%     2.57 g/t     5.55 g/t
	    -------------------------------------------------------------------------

	    -------------------------------------------------------------------------
	    CUT-OFF                               CONTAINED METAL(xx)
	    GRADE*                Cu (lb)         Zn (lb)       Au (oz)      Ag (oz)
	    -------------------------------------------------------------------------
	    2.0% Cu Equiv       11,013,000       4,228,000       30,000       73,000
	    2.5% Cu Equiv.       5,899,000       2,272,000       18,000       39,000
	    -------------------------------------------------------------------------
	    *    Copper equivalent grade based on US$1.75 per lb Copper, US$0.80
	         per lb Zn, US$700 per oz Au and US$10 per oz Ag.
	    (xx) Figures rounded to nearest 1,000.
	    >>

	    About Murgor Resources

	    Murgor Resources Inc. is a mineral exploration and development company
focused on copper, zinc and gold deposits. The company is earning a 100%
interest in three deposits, adjacent to the Snow Lake and Flin Flon mining
districts of Manitoba, from HudBay Minerals Inc. (TSX:HBM). Murgor is also
exploring an exceptional portfolio of gold properties in proven mining
districts of Canada, owns a 1% NSR royalty in the Barry Gold Mine and an
interest in the advanced Windfall Gold Project in Quebec.
	    André C. Tessier, P.Eng (Qc), P.Geo and President of Murgor Resources, is
a Qualified Persons, as defined by NI-43-101 and is responsible for this news
release and the technical information it contains.

	    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 the proposed financing,
payments to HudBay, 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.






-30-
	    /For further information: please visit Murgor's website at www.murgor.com
or contact: André C. Tessier, President & CEO, MURGOR RESOURCES INC., Tel:
(613) 546-7503 or 1-888-891-3330, Fax: (613) 546-7318, E-mail:
info@murgor.com, Web site: www.murgor.com/
Share
New Message
Please login to post a reply