TORONTO, Sept. 6, 2018 /CNW/ - Murchison Minerals Ltd.
(MUR - TSXV) ("Murchison" or the "Company") is pleased to
provide update on its exploration activities for the
Brabant-McKenzie property (the "Property") located in north-central
Saskatchewan. The Company has a
busy fall schedule with respect to the Property and the HPM project
in Quebec.
Brabant-McKenzie Resource Estimate
The Company is
currently completing an updated resource estimate for the
Brabant-McKenzie deposit (the "Deposit") which will incorporate
approximately 9,004 metres in 19 holes from the 2018 drill program
(the "Program"). The purpose of the Program was to continue
advancing the development of the Deposit through potential resource
expansion and to upgrade the current NI 43-101 inferred resource
estimate into the higher grade indicated category. Specifically,
the Program was designed to test the robustness and predictability
of the geological model in determining mineralization outside the
known limits of the Deposit's previously reported resource estimate
of 1.5 million indicated tonnes grading 7.46% zinc, 0.70% copper
and 4.5 million inferred tonnes grading 5.99% zinc and 0.62% copper
as outlined in the technical report filed on SEDAR, dated
March 13, 2018 (the "Technical
Report").
The results of the updated resource estimate are expected in
September 2018. It will be used to further define the overall
geological model and assist in designing next steps for the
exploration program on the Deposit's advancement, including
additional follow-up drill programs. The Company plans to fully
define the extents of the Deposit prior to applying economic
parameters in order to determine its economic viability.
Regional Exploration
Regionally, the Company is
focused on identifying additional deposits on the Property and
believes that in addition to the Deposit, the Property exhibits the
potential for a VMS district or camp based on the number of known
mineralized showings and geophysical anomalies identified along its
18 kilometre strike.
Prospecting Program
A field program of prospecting,
mapping and sampling was completed on the south end of the Property
in July 2018 and included the
investigation of mineralized showings on newly staked ground (see
press release June 7, 2018) as part
of the Company's efforts to systematically investigate known
mineralized showings and identified geophysical anomalies. Initial
observations were positive and the Company is currently compiling
the data from this program with completion expected in September 2018. Results from this compilation
will be used to further design next steps exploration and will
include geophysical programs to further define identified potential
drill targets.
Geophysical Program
Currently, both the TOM2 and T2T
geophysical anomalies, located approximately 6 kilometres south of
the Deposit, are now defined as priority drill targets and will be
tested in the Company's next drill program. Additionally, a ground
electromagnetic and magnetic geophysical program is underway on the
Priority 3 airborne VTEM anomaly in order to better define its
dimensions and conductivity. Results from this program are expected
in early October 2018. Based on the
results of this program, the Company also expects to test this
target in the next drill program.
Anomaly C and D
Results from the analysis of the drill
program on Anomaly C and D (the "Anomalies") are expected in
September 2018. These anomalies were
grassroots targets and the Company undertook a full analysis of the
results in order to provide context with respect to the Anomalies
as well as the overall project development.
HPM
The Company has initiated a desktop compilation
study of the historical data on its HPM nickel/copper/cobalt joint
venture project in Quebec. The
purpose of this study is to clarify previous work to date on this
project and to design a formal ground truthing exploration program.
Results from previous drill programs have been compelling and
include drill intercepts of 43.18 metres grading 1.74% copper,
0.90% nickel, 0.90% cobalt, 15.06 metres grading 1.72% copper,
0.66% nickel, 0.89% cobalt and 5.47 metres grading 0.97% copper,
2.37% nickel, 1.23% cobalt. The Company plans to use the results of
this ground truthing exploration program to design a formal
exploration program in order to identify viable drill targets and
to continue advancing this project. The initial compilation is
expected to be completed in the fall of 2018.
Qualifying Statement
The foregoing scientific and
technical disclosures have been reviewed and approved by
Kent Pearson, P. Geo., and
Finley Bakker P. Geo., and are
qualified persons as defined by National Instrument 43-101. Mr.
Bakker is an independent consultant to Murchison Minerals Ltd. and
the Brabant-McKenzie project. Mr. Pearson is President and Chief
Executive Officer of Murchison Minerals Ltd.
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 Provincial Highway 102 and is serviced by grid power. The
project consists of one mining lease which hosts the Deposit and an
additional 15 mineral claims totaling 7,031 hectares which cover
approximately 18 km of strike length over favourable geological
horizons, multiple known mineralized showings and identified
geophysical conductors.
The Brabant-McKenzie Deposit hosts an indicated resource of 1.5
million tonnes grading 7.46% Zn, 0.70% Cu, 0.39% Pb, 31.16 g/t Ag,
10.09% ZnEq 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% ZnEq as
disclosed in the report dated November 25,
2017 and filed on SEDAR on March 13,
2018.
About Murchison Minerals Ltd.
Murchison Minerals Ltd.
is a Canadian based exploration company focused on the exploration
and development of the 100% owned Brabant-McKenzie zinc-copper
project in North-Central Saskatchewan. The Company also has a 50%
interest in the HPM nickel/copper/cobalt project in Quebec and gold projects in the Pickle Lake area of northwestern Ontario.
Additional information about Murchison Minerals 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.
