Murgor starts 20,000 meter drillingMurgor starts 20,000 meter drilling program at its Flin Flon belt options in Manitoba and Saskatchewan
MONTREAL, QC, Jan. 18 /CNW Telbec/ - Murgor Resources Inc. (MUG: TSX-V)
is pleased to confirm that, as previously announced, it will be starting its
20,000 meter drilling program on January 20th, 2007 in northern Manitoba and
Saskatchewan. As scheduled, three drill rigs are presently being mobilized to
northern Manitoba and Saskatchewan. Two drill rigs will be starting on the
Hudvam deposit in Manitoba and one will be starting on the Fon deposit in
Saskatchewan. A minimum of 20,000 meters of drilling is planned for the
winter, spring and summer of 2007 on the Hudvam, Fon, Wim, Tyr and Snow-H
projects. Other work planned by Murgor in the area during the same period
includes extensive helicopter-borne VTEM geophysical surveys and deep
penetration ground electromagnetic geophysical surveys.
Murgor also wishes to announce that results from the previously announced
43-101 compliant resource estimates on the Fon, Hudvam, Wim, Abbott Lake and
Tyr deposits are delayed four to six weeks from the previously announced
completion dates. Delays are due to database corrections and reformatting
issues that have taken much longer than anticipated. In some cases, due to the
age of the data, Murgor may have to return to the field to confirm the
database.
As of October 17, 2006 Murgor had signed six separate agreements with
HudBay Minerals Inc. (HBM: TSX) to acquire a 100% interest in four properties
(5,368 hectares) that include zinc-copper-silver-gold resources and a 50%
interest in two large-scale grassroots projects covering 186,104 hectares of
extremely prospective ground. All properties and projects are located in the
Flin-Flon greenstone belt of Manitoba and Saskatchewan.
In the next six months Murgor is planning an aggressive exploration
program at all six of its projects, under option from HudBay. Murgor is
planning to accelerate its work expenditures on the properties under option in
an effort to earn its 100% interest in the mineral resources in two years.
Exploration work contemplated in the next 6 months will include:
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- Over 8,000 line kilometers of helicopter borne VTEM surveys at Fon,
Hudvam, Wim, Tyr, Flin-D and Snow-H properties.
- Deep penetrating ground EM surveys to cover over 20 square kilometers
at Fon, Hudvam, Wim, Tyr and Snow-H.
- A 20,000 metre drilling program designed to confirm, upgrade and
outline additional base metal resources, and to test new targets at the
property-scale. The drilling program will be targeted at the Fon,
Hudvam, Wim, Tyr and Abbott Lake deposits and at the Snow-H property
where Murgor will follow-up a new intersection of 0.24% Cu, 2.69% Zn
over 0.57m (see HudBay press release September 27, 2006).
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Andre C. Tessier, P.Geo, President & CEO of Murgor Resources is a
qualified person in accordance with Canadian regulatory requirements as set
out in National Instrument 43-101 and is responsible for this press release.
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.