Murgor's initial drilling results return golden surprise at the Hudvam copper-gold-zinc deposit, Manitoba.
MONTREAL, March 11 Murgor Resources Inc. (MGR: TSX-V) today announced that it has received geochemical results from six drill holes at the Hudvam copper-gold-zinc deposit in Manitoba. Two holes are infill drill holes aimed at upgrading the current Mineral Resource at Hudvam from Inferred to Measured and Indicated, and four holes are definition drill holes aimed at extending the limits of the known mineralization. Three of the four definition drill holes intersected ore-grade material and will ultimately increase the resource at Hudvam. Since January of 2008, Murgor has completed 21 drill holes at the Hudvam deposit (a total of 8,056 meters) and drilling is active on site. Results from the next 15 drill holes completed to date are still pending. A longitudinal section will be attached to this press release on Murgor's website at
www.murgor.com.
Andre C. Tessier, President & CEO of Murgor Resources reports: "These are exceptional gold values for any gold deposit, so to obtain these gold values in a polymetallic deposit is even more exciting. This winter's drilling program at Hudvam has been very encouraging and additional results are expected shortly. Metallurgical and geotechnical drill holes have been completed in preparation for the pre-feasibility study and, infill and definition drilling is nearly completed. We have now freed one helicopter supported rig for exploration drilling at Murgor's grassroots projects with another rig at Hudvam starting to drill exploration targets at the property scale. Management and exploration staff at Murgor are looking forward to the upcoming results."
Murgor would also like to report that a detailed compilation and 3D modelling of the Hudvam deposit has led to the definition of several high priority exploration targets in the immediate area of the currently defined copper-gold-zinc Mineral Resource at Hudvam.
In February of 2007, Murgor completed a NI 43-101 compliant resource estimate at Hudvam. The resource estimation doubled the historical resource for copper and zinc and increased the gold and silver resource by more than 145% relative to historical resources. A new NI 43-101 compliant resource estimate is planned for the summer of 2008. The current 43-101 Inferred resource at the Hudvam deposit stands at (please see SEDAR for the full report):
The mineralization at Hudvam consists of solid sulphide to sulphide breccia with variable amounts of gold bearing pyrite, pyrrhotite, chalcopyrite and sphalerite. The ore lenses trend NNE and dip steeply at 75-80 degrees towards the SE and would be amenable to long-hole mining. There is a 312 meter long ramp at the deposit that could now be rehabilitated for quick development.
The Hudvam property consists of 18 claims covering 1,714 hectares, located approximately 47 kilometers northeast of the Town of Flin Flon in Manitoba. Murgor is earning a 100% interest in the property from HudBay Minerals Inc. (HBM: TSX). HudBay has the right to buyback of up to 65% of the property.
Chemical analyses reported in this press release were performed by TSL Laboratories in Saskatoon. Base metals were analyzed through atomic absorption
spectrometry after a multi acid digestion whereas gold was analyzed by fire assay Atomic Absorption using a 30g charge, with gravimetric finish for assays
greater than 3 g/t. Sampling and analytical procedures are subject to a comprehensive Quality Assurance and Quality Control program that includes duplicate samples, blanks and analytical standards.
The Qualified Person in the field, as defined by NI-43-101, was Neil W. Richardson P.Geo. and Manager of Central Canada Exploration for Murgor Resources Inc. Andre C. Tessier, P.Geo. (On), P.Eng. (Qc) and President CEO of Murgor Resources is the Qualified Person responsible for this news release.
A map of the Hudvam deposit is available at
http://files.newswire.ca/476/Hudvam_Map.pdf
For further information: PLEASE VISIT MURGOR'S WEBSITE AT
WWW.MURGOR.COM FOR 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 Or Michael Joyner, Investor Relations - The Equicom Group, Tel: (416) 815-0700 ext. 275, or 1-800-385-5451, E-mail:
mjoyner@equicomgroup.com