Duluth Metals Limited announces wide mineralized intercepts with new drill results
Wednesday March 21, 6:00 am ET
biz.yahoo.com
TORONTO, March 21 /CNW/ - Duluth Metals Limited ("Duluth") (TSX: DM - News; TSX:DM.U - News) today announced assay results for four new holes (MEX-15, 16, 17 and 18) completed during the current 100,000 foot winter drilling program on Duluth's Maturi Extension project near Ely, Minnesota.
All drill holes intersected significant mineralization with both MEX-15 and MEX-16 hitting sections of massive sulphide. The results include MEX-16, which intersected a wide zone of mineralization in the northeastern part of the property approximately 1200 metres northeast of any previous drilling, and MEX-15, MEX-17, and MEX-18 which all intersected mineralization on the western part of the property. Drilling is continuing with four drills as part of the forty hole winter drilling program.
MEX-16, intersected 437.9 feet of 0.498% copper, 0.172% nickel and 0.272 grams per tonne total precious metals. Included in that interval was 78.7 feet of 0.758% Cu, 0.246% Ni and 0.344 grams per tonne of total precious metals. (At a 0.5% copper cut-off.) Below the main mineralized interval the hole also intersected 3.4 feet of 8.98% Cu and 0.205% Ni and 2.986 grams of total precious metals.
MEX-15, MEX-17, and MEX-18 were drilled on the western part of the property, where the objective of the current drill program is to define a NI 43-101 compliant resource. At a 0.5% copper cut-off the intersections are as follows:
- 70 feet of 1.278% Cu, 0.295% Ni and 1.085 grams per tonne total
precious metals in MEX-15, within a total mineralized interval of
155 feet grading 0.828% Cu, 0.235% Ni, and 0.762 grams per tonne
total precious metals. This interval includes 10 feet of 4.94% Cu,
0.643% Ni and 3.348 grams per tonne total precious metals.
- 49.2 feet of 0.707% Cu, 0.225% Ni and 0.909 grams per tonne total
precious metals in MEX-17, within a total mineralized interval of
176.1 feet grading 0.454% Cu, 0.133% Ni, and 0.443 grams per tonne
total precious metals.
- 45 feet of 0.915% Cu, 0.253% Ni and 0.926 grams per tonne total
precious metals and 55 feet of 0.858% Cu, 0.138% Ni and 0.838 grams
per tonne total precious metals in MEX-18, both within a total
mineralized interval of 200 feet grading 0.578% Cu, 0.147% Ni, and
0.561 grams per tonne total precious metals.
True thickness is estimated at about 90% of core length. The following
table contains a more detailed summary of the drill intercepts:
-------------------------------------------------------------------------
Hole Zone From To Length Copper Nickel
(feet) (feet) (feet) (%) (%)
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MEX-15 Total
Mineralized
Zone (at) 0.3%
copper 2768.0 2923.0 155.0 0.828 0.235
-------------------------------------------------------------------------
including
(at) 0.5%
copper cut-off 2808.0 2878.0 70.0 1.278 0.295
-------------------------------------------------------------------------
which
includes 2863.0 2873.0 10.0 4.940 0.643
-------------------------------------------------------------------------
MEX-16 Total
Mineralized
Zone (at) 0.3%
Cu 1083.4 1521.3 437.9 0.498 0.172
-------------------------------------------------------------------------
including
-------------------------------------------------------------------------
(at) 0.5%
copper cut-off 1122.7 1171.9 49.2 0.545 0.198
-------------------------------------------------------------------------
(at) 0.5%
copper cut-off 1226.1 1304.8 78.7 0.758 0.246
-------------------------------------------------------------------------
(at) 0.5%
copper cut-off 1457.3 1516.3 59.0 0.545 0.173
-------------------------------------------------------------------------
MEX-16 1811.5 1816.5 5.0 1.000 0.252
-------------------------------------------------------------------------
MEX-16 1944.4 1947.8 3.4 8.980 0.205
-------------------------------------------------------------------------
-------------------------------------------------------------------------
MEX-17 Total
Mineralized
Zone (at) 0.3%
copper 2554.5 2730.6 176.1 0.454 0.133
-------------------------------------------------------------------------
including
-------------------------------------------------------------------------
(at) 0.5%
copper cut-off 2671.6 2720.8 49.2 0.707 0.225
-------------------------------------------------------------------------
MEX-18 Total
Mineralized
Zone (at) 0.3%
copper 2558.0 2758.0 200.0 0.578 0.147
-------------------------------------------------------------------------
including
-------------------------------------------------------------------------
(at) 0.5%
copper cut-off 2593.0 2638.0 45.0 0.915 0.253
-------------------------------------------------------------------------
(at) 0.5%
copper cut-off 2703.0 2758.0 55.0 0.858 0.138
-------------------------------------------------------------------------
-------------------------------------------------------------------------
Hole Zone Palladium Platinum Gold TPM(x) Silver
(g/t) (g/t) (g/t) (g/t) (g/t)
-------------------------------------------------------------------------
MEX-15 Total
Mineralized
Zone (at) 0.3%
copper 0.446 0.218 0.098 0.762 4.6
-------------------------------------------------------------------------
including
(at) 0.5%
copper cut-off 0.618 0.323 0.144 1.085 4.4
-------------------------------------------------------------------------
which
includes 1.707 1.178 0.464 3.348 19.6
-------------------------------------------------------------------------
MEX-16 Total
Mineralized
Zone (at) 0.3%
Cu 0.159 0.067 0.046 0.272 1.6
-------------------------------------------------------------------------
including
-------------------------------------------------------------------------
(at) 0.5%
copper cut-off 0.191 0.104 0.046 0.341 1.7
-------------------------------------------------------------------------
(at) 0.5%
copper cut-off 0.209 0.075 0.060 0.344 2.5
-------------------------------------------------------------------------
(at) 0.5%
copper cut-off 0.185 0.077 0.067 0.328 1.8
-------------------------------------------------------------------------
MEX-16 0.278 0.062 0.075 0.415 3.4
-------------------------------------------------------------------------
MEX-16 1.980 0.618 0.388 2.986 77.7
-------------------------------------------------------------------------
-------------------------------------------------------------------------
MEX-17 Total
Mineralized
Zone (at) 0.3%
copper 0.264 0.117 0.062 0.443 1.5
-------------------------------------------------------------------------
including
-------------------------------------------------------------------------
(at) 0.5%
copper cut-off 0.539 0.248 0.122 0.909 2.3
-------------------------------------------------------------------------
MEX-18 Total
Mineralized
Zone (at) 0.3%
copper 0.336 0.149 0.076 0.561 2.0
-------------------------------------------------------------------------
including
-------------------------------------------------------------------------
(at) 0.5%
copper cut-off 0.580 0.236 0.110 0.926 3.0
-------------------------------------------------------------------------
(at) 0.5%
copper cut-off 0.463 0.241 0.134 0.838 3.1
-------------------------------------------------------------------------
(x)Total Precious Metals (TPM) (equal sign) Platinum+Palladium+Gold
For the winter drill program, half core samples were prepared at ALS Chemex Ltd. Laboratories in Thunder Bay and then shipped to its analytical facilities in Vancouver. Samples were analyzed for Au, Pt, Pd using a standard fire assay with an ICP finish and for 27 other elements using a four acid (near total) digestion and a combination of ICPMS and ICPAES. ICP over limits were re-analyzed using sodium peroxide fusion, acid dissolution followed by ICPAES. The remaining half core samples are being stored in Minnesota.
"We are extremely pleased with these results." stated Dr. Henry (Rick) J. Sandri, President and CEO of Duluth. "Not only do these holes confirm very wide mineralized intersections and good grades, but MEX 15 and MEX 16 both give us interesting sections of massive sulphide."
Duluth is currently working on holes MEX-26 through MEX-29; core from MEX-19 through MEX-25 are in various stages of geological evaluation and assaying. Duluth has engaged Scott Wilson Roscoe Postle Associates Inc. (Scott Wilson RPA) to conduct a Mineral Resource Estimate and prepare a Technical Report which complies with NI 43-101 requirements. It is expected this estimate will be completed during June with a report to follow in late July 2007.
David Oliver, P. Geo. is the Qualified Person for Duluth, in accordance with NI 43-101 of the Canadian Securities Administrators, and is responsible for the technical content of this press release and quality assurance of the exploration data and analytical results. The Company will be issuing periodic updates on the drilling and releasing assay results in groupings of 4-6 holes.
About Duluth Metals
Duluth is committed to acquiring, exploring and developing copper, nickel and platinum group metal (PGM) deposits. Duluth's principal property is the Maturi Extension Property located within the rapidly emerging Duluth Complex mining camp in northeastern Minnesota. The Duluth Complex hosts one of the world's largest undeveloped repositories of copper, nickel and PGMs, including the world's third largest accumulation of nickel sulphides, and one of the world's largest accumulations of polymetallic copper and platinum group metals. Duluth is pursuing other advanced stage nickel, copper and PGM projects which can be put into production within a suitable time frame.
This document may contain forward-looking statements (including "forward-looking statements" within the meaning of the US Privacy Securities Reform Act of 1995) relating to Duluth's operations or to the environment in which it operates. Such statements are based on operations, estimates, forecasts and projections. They are not guarantees of future performance and involve risks and uncertainties that are difficult to predict and may be beyond Duluth's control. A number of important factors could cause actual outcomes and results to differ materially from those expressed in forward-looking statements, including those set forth in other public filings. In addition, such statements relate to the date on which they are made. Consequently, undue reliance should not be placed on such forward-looking statements. Duluth disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, save and except as may be required by applicable securities laws.
For further information
please contact Mara Strazdins, Director of Corporate Communications, at mstrazdins@duluthmetals.com or at (416) 369-1500
or Henry Sandri, President and CEO, at hsandri@duluthmetals.com
Web Page: www.duluthmetals.com
Source: Duluth Metals Limited |
