AZK/MNG/
CMM.V / IPT.V / MUG.V
Press Release Source: MURGOR RESOURCES INC.
Murgor Drilling Extends Gold Zone F-17 with Two More Down Plunge Intersections at the Windfall Property, NW Quebe
Monday March 6, 8:00 am ET
MONTREAL, QUEBEC--(CCNMatthews - March 06, 2006) - Murgor Resources Inc. (TSX VENTURE:MUG - News) is pleased to report that two more drill holes have intersected the down-plunge extension of the F-17 Gold Zone and increased its strike length by 50 meters. The results come from the latest phase of drilling on the F-17 gold Zone at the Windfall property in north-western Quebec. The drill program consisted of 8 drill holes (WIN-06-89 to 96) for a total of 1,067 meters drilled in February, 2006. Three more drill holes tested Zone F-51 and results from these holes are pending. The objective of this phase of drilling was to continue defining the geometry of Gold Zone F-17 following the last down-plunge intersection of 15.97 g/t Au over 7.6 meters at 62.1 to 69.7 meters depth (see press release Dec. 08, 2005). In this phase of drilling two drill holes have extended the same ore shoot another 50 meters to the NE with the following results:
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DDH LINE STN Az Incl. L (m) BEST RESULTS
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WIN-06-90 8+30 W 10+95 N 153 -47 140 9.76 g/t Au over
5.0 m from 83.0
to 88.0 m
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WIN-05-95 8+02 W 11+03 N 155 -58 140 8.40 g/t Au over
3.0 m from 77.0
to 80.0 m
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The new intersections confirm that the gold mineralization occurs in a NE-trending brittle-ductile shear zones dipping approximately 70 degrees to the NW, with ore shoots of higher grades and widths raking approximately 10 degrees to the NE.
To date a minimum of two of these ore shoots have been defined at Zone F-17 spaced by approximately 30 meters of lower grade material. Zone F-17 remains open to the NE and at depth.
The longitudinal section of Zone F-17 (attached to this press release at www.murgor.com) also suggests a possible larger ore shoot raking at 45 degrees NE such as the ore shoots of Gold Zone F-51.
The Windfall Property is comprised of 214 mining claims covering an area of 8,995 hectares that is held 50% by Murgor and 50% by Freewest Resources Canada Inc. (FWR: TSX-V). To date, nearly 12,750 meters of drilling have been completed at the Windfall Property and drilling is scheduled to resume in mid-March.
Three gold zones (F-11, F-17 and F-51) have been defined so far on the property and current drilling aims to increase the size of these gold zones and outline new ones.
Other drill holes from this phase of drilling failed to uncover significant mineralization with best results occurring in drill hole WIN-06-91 (1.52 g/t Au over 4.0 m from 38m to 42m).
Drill holes Win-06-89 and 96 intersected a cross-cutting fault zone whereas drill holes WIN-06-91 to 94 tested other up-plunge extensions of ore shoots or other poorly defined ore shoots.
Andre Tessier, President and CEO of Murgor Resources stated: "Murgor and our JV partners Freewest Resources are getting very excited about this property.
We are in effect delineating additional resources with every phase of drilling on Zone F-17 and to date, all these excellent intersections occur within 75 meters of vertical depth... and I think we are only scratching the surface.
Between our Windfall project, Murgor's Barry Gold Deposit (presently at pre-feasibility stage), and Noront Resources' Windfall Lake Project, we are sure to see a lot of excitement in the Barry-Urban district in the very near future."
In other news... Murgor Resources announces that it has signed an agreement with Geodex Minerals Ltd. to option
Murgor's 100% owned Mount Pleasant Property in the Mount Pleasant area of New Brunswick.
The agreement states that Geodex can earn an initial 60% interest in the 47 claim block by paying Murgor a total of $30,000 cash and 300,000 shares over three years and committing to expenditures of $250,000 in that period.
A further 15% can be earned by Geodex by issuing an additional 200,000 shares over the following two years and an additional 5% by completion of a feasibility study and by financing Murgor's share of development costs to production, the latter to be recovered from 90% of the first proceeds of commercial production.
Murgor will retain a 2.0% NSR, half subject to buyback for the sum of $750,000 at any time. The agreement is subject to regulatory approval.
Gold analyses reported in this release were performed by standard 30g fire assay with AA finish and assays were performed by ALS Chemex Laboratories, in Val D'Or, Qc. Andre C. Tessier, P.Geo. (On), P.Eng. (Qc) and President CEO of Murgor Resources Inc. was the Qualified Person in the field and is responsible for the preparation of this news release.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this press release
Contact:
Andre C. Tessier
Murgor Resources Inc.
President & CEO
(613) 546-7503 or 1-888-891-3330
(613) 546-7318 (FAX)
info@murgor.com
www.murgor.com
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