TORONTO, June 7, 2018 /CNW/ - Murchison Minerals Ltd.
("Murchison" or the "Company") (TSXV: MUR) is pleased to announce
that it has acquired more ground near its Brabant-McKenzie property
(the "Property") by staking and is planning additional ground
geophysics at the Property.
The Company continues to expand its regional review of
mineralized showings on the Property and surrounding area. The
Company has recently staked an additional 1,301 hectares of ground
adjacent to and southeast of the current Property in order to cover
prospective geology and reported mineralized showings hosting
anomalous copper and zinc values
New Claims
The Company staked claims numbered
MC00011056 adjacent to the Property which covers previous work
outlined in Saskatchewan Mineral Deposit Index ("SMDI") 0429
assessment report ("SMDI 0429"). As noted in the assessment report
the area, "hosts a sulphide zone that was traced for a length of
2,000 ft (609.6 m) over widths of up
to 20 ft (6.1 m). Several trenches
along the zone expose rusty weathered quartz-feldspar-actinolite
gneiss containing abundant pyrrhotite and graphite and a small
amount of chalcopyrite. The sulphide mineral content ranges from
about 60% to over 90%. Within this zone a showing consisting of a
sulphide lens hosting pyrite, pyrrhotite and minor sphalerite and
covering an area of 2 ft by 30 ft (0.6 x 9.1
m) is noted. One sample of massive pyrrhotite from the
showing gave 0.36% Cu."
Other showings noted in SMDI 0429 and located within
MC00011056 include:
- "A 2,400 x 500 ft (731.5 x 152.4
m) northeast-trending fine-grained pyrrhotite zone
containing low (anomalous) copper and zinc values was identified on
the east shore of Brabant
Lake
- A sulphide lens hosting pyrite, pyrrhotite and minor
sphalerite and covering an area of 2 ft by 30 ft (0.6 x
9.1 m). One sample of massive
pyrrhotite from the showing gave 0.36% Cu.
- Several boulders 2 to 4 ft (0.6 to 1.2 m) in diameter at the south end of the zone,
consisting of essentially of massive pyrrhotite with abundant
graphite and scattered irregular grains of chalcopyrite.
- [Trench no. 4] is approximately 1,400 ft (426.7 m) to the east of the Brabant Lake shore [ which] exposed a 20 ft.
(6.1 m) width of nearly massive
sulphides pyrrhotite-pyrite + minor chalcopyrite and wurtzite
(associated with pyrite and sphalerite) and graphite. Wurtzite and
hydrozincate were noted in association with pyrite but not with
pyrrhotite. Several assays gave 0.25% Cu. Mineralized float from
the showing area assayed 0.24% Cu."
The Company also staked claims numbered MC00011057 approximately
2.0 kilometres southeast of the Property based on showings noted in
SMDI 0436 assessment report. It notes the identification of
"showings that host chalcopyrite associated with pyrrhotite in
schistose rocks. Chalcopyrite makes up a much higher
proportion of the sulphides than in other type of sulphide zones."
The Company does not know of any follow up work that has
been conducted on this showing since the initial discovery in
1969.
All mineralized values noted are historical only and have not
been verified by Murchison.
Murchison is planning a regional summer prospecting, sampling
and mapping program over the showings on the newly staked ground,
to further defined their potential as exploration targets as the
Company works to demonstrate the VMS potential of the area. The
Company will also be conducting additional prospecting, sampling
and mapping over the TOM2, T2T, Priority 3 geophysical anomalies in
order to further define these anomalies as drill targets.
Priority 3 Geophysics Anomaly Update
The Company has
submitted permits for a ground electromagnetic and magnetometer
geophysical survey on the Priority 3 VTEM airborne anomaly.
Additionally, it has submitted bid tender requests to a number of
geophysical contractors. The Company expects to initiate this
survey in early to mid-July 2018.
Qualifying Statement
The foregoing scientific and
technical disclosures have been reviewed and approved by
Kent Pearson, P. Geo., and
Finley Bakker, P. Geo., who are
qualified persons as defined by National Instrument 43-101. Mr.
Bakker is an independent consultant to Murchison and the
Brabant-McKenzie project. Mr. Pearson is President and Chief
Executive Officer of the Company.
About the Brabant-McKenzie Project
The
Brabant-McKenzie project is located 175 km Northeast of
La Ronge, Saskatchewan and
approximately 3 km from the community of Brabant Lake. The area is accessed year-round
via Highway 102 and is serviced by grid power. The project consists
of one mining lease which hosts the Brabant-McKenzie Deposit and an
additional 15 mineral claims totaling 7,031 hectares which cover
approximately 18 kilometers of strike length over favourable
geological horizons, multiple known mineralized showings and
identified geophysical conductors.
The Brabant-McKenzie Deposit hosts an indicated resource of
resource 1.5 million tonnes grading 7.46% Zn, 0.70% Cu, 0.39% Pb,
31.16 g/t Ag, [10.09% Zn Eq] and an inferred resource of 4.5
million tonnes grading 5.99% Zn, 0.62% Cu, 0.39% Pb, 19.39 g/t
Ag, [7.99% Zn Eq] as disclosed in the report dated November 25, 2017 and filed on SEDAR on
March 13, 2018.
About Murchison Minerals Ltd.
Murchison is a Canadian
based exploration company focused on the exploration and
development of the 100% owned Brabant-McKenzie zinc-copper-silver
project in North-Central Saskatchewan. The Company also has the HPM
nickel-copper-cobalt project in Quebec and gold project in the Pickle Lake area of northwestern Ontario.
Additional information about Murchison and its exploration
projects can be found on the Company's website at
www.murchisonminerals.com.
Forward-Looking Information
Certain
information set forth in this news release may contain
forward-looking information that involves substantial known and
unknown risks and uncertainties. This forward-looking information
is subject to numerous risks and uncertainties, certain of which
are beyond the control of the Company, including, but not limited
to, the impact of general economic conditions, industry conditions,
and dependence upon regulatory approvals. Readers are cautioned
that the assumptions used in the preparation of such information,
although considered reasonable at the time of preparation, may
prove to be imprecise and, as such, undue reliance should not be
placed on forward-looking information. The parties undertake no
obligation to update forward-looking information except as
otherwise may be required by applicable securities law.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
SOURCE Murchison Minerals Ltd.
