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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers -- Ignore unavailable to you. Want to Upgrade?

To: Anchan who wrote (31400)	1/31/2007 2:27:09 AM
From: heinz44	Respond to of 78420

Thanks Anchan!! Murgor buys 11 exploration properties from AngloGold 2007-01-30 05:16 PT - News Release Mr. Andre Tessier reports MURGOR RESOURCES ACQUIRES ELEVEN EXPLORATION PROPERTIES FROM ANGLOGOLD ASHANTI IN PERU Murgor Resources Inc. has acquired 11 high-potential exploration properties from mining giant AngloGold Ashanti in Peru. The acquisition was made by Murgor through Murgor Exploraciones S.A.C., its wholly owned Peruvian subsidiary. The transaction follows a corporate decision by AngloGold Ashanti (AGA) to reduce its early stage exploration activities in Peru. The exploration properties cover a total area of 27,200 hectares and are located throughout Peru in the departments of Ancash, Amazonas, Apurimac, Arequipa, Cusco, Huanuco, Junin, La Libertad and Lima. The properties are all at the grassroots level and were initially acquired by AGA for their large-scale alteration, anomalous metal values and proximity to large-scale structures that host such world-class gold deposits as Yanacocha and Alto-Chicama. Several of the properties show indications of high-sulphidation epithermal gold-silver mineralization while others show bulk-tonnage gold-copper or gold-silver potential. Other properties within this package show potential for large, high-grade epithermal and mesothermal gold-silver veins. Old mine workings are documented on at least three of the properties. Under the terms of the agreement, Murgor acquired a 100-per-cent interest in the properties for a one-time cash payment to AGA of $90,070 (U.S.). AGA retains a 1-per-cent net smelter return royalty on all the properties. There are no working commitments on any of the properties Andre C. Tessier, president and chief executive officer of Murgor Resources, stated: "Murgor is very excited with these properties and at the prospect of exploring in Peru. The acquisition is part of a long-term diversification strategy by the company. With the HudBay acquisition, Murgor is diversifying into volcanogenic massive sulphide zinc and copper deposits in one of the best areas in Canada. Now, with these Peruvian acquisitions, Murgor is strengthening its gold exploration portfolio while expanding its operations in a country that is well known for its world-class epithermal gold deposits. Since there are no work commitments on any of the Peruvian properties, Murgor will continue to focus its immediate exploration efforts on its HudBay options, while planning longer-term exploration programs in Peru; either alone or with partners." In other news, Murgor is continuing its drilling program in Northern Manitoba. In order to take full advantage of optimum ice conditions, Murgor has opted to move its three drill rigs onto the Hudvam copper-gold-zinc deposit. Within a few weeks, one drill will be moved on the Fon deposit in Saskatchewan and another will be relocated to the WIM deposit north of Snow Lake.