MURCHISON MINERALS COMMENCES TRADING ON CANADIAN SECURITIES EXCHANGE announce the Company has listed its securities on the Canadian Securities Exchange (“CSE”) and its common shares will
NEWS RELEASE JUNE 19, 2014
MURCHISON MINERALS COMMENCES TRADING ON CANADIAN SECURITIES EXCHANGE
June 19, 2014 (Toronto, Ontario): Murchison Minerals Ltd. (“Murchison” or “Company”) (CSE:MUR) is pleased to announce the Company has listed its securities on the Canadian Securities Exchange (“CSE”) and its common shares will commence trading today. The Company’s trading symbol will be “MUR”.
To view the recently updated Corporate Presentation posted on the Company’s website please click here.
About Murchison
- Murchison is a Canadian-‐based company actively exploring for base metals and precious metals, including platinum group metals, in central Uganda where it controls the mineral rights over an area of approximately 1,200 km2.
Murchison also holds the 17 km long Cloridorme alumina/rare earth elements (“REE”) property which lies on • strike with Orbite Aluminae’s (TSX: ORT) billion-‐tonne Al2O3 main deposit located in the Gaspé peninsula in Quebec. Drilling by Murchison in 2012 intersected 76 m @ 23.3% Al2O3 (see Press Release dated February 4, 2013 on SEDAR) in the same favourable argillite formation hosting Orbite’s mineralization.
- Murchison’s other Canadian holdings include the Brabant Lake Zn-‐Cu-‐Pb-‐Ag deposit in central Saskatchewan and a significant land position covering approximately 63 km2 in the Pickle Lake gold area of north-‐western Ontario.
Uganda: The exploration work completed over the past 4 years has confirmed the prospective nature of Murchison’s land package which hosts both ultramafic and sedimentary rock formations. The area benefits from relatively good transportation infrastructure and power—the Nile River and tarmac roads and the 600 MW hydroelectric project under construction at Karuma Falls. This region of Uganda also benefits from active oil exploration and development.
Analysis of the data generated by a government magnetic airborne survey identified over 25 magnetic bodies on the licence package, postulated to be folded ultramafic rock bodies which have the potential to host massive sulphide deposits. Exploration completed to-‐date by Murchison has mostly focused on the 12 km-‐long Karuma structure, being the largest of these ultramafic targets.
Work completed on Karuma includes soil geochemical sampling, ground magnetics, gravity, moving loop and fixed loop EM surveys. The ground EM surveys have identified some 8 conductors spatially related to a gravity high signature. Soil geochemistry has confirmed the presence of anomalous values of Ni, Cu, Cr, Co, Pt/Pd and gold in distinct anomalies also spatially related to EM conductors as well as several extensive zones enriched in scandium (up to 68 ppm). Disseminated sulphides have also been observed in country rocks straddling the Karuma target area.
Drilling of selected targets is scheduled to commence by June 22, 2014.
Karuma Mafic Body Highlights:
- 12 km of folded ultra-‐mafics in a mafic intrusive from ground magnetics Large EM anomalies coincident with anomalous Ni, Cu, Cr, Co, Sc and PGE soil geochemistry
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- EM anomalies coincident with sub-‐cropping ultra-‐mafic rocks
- Anomalous Au and Pt soil anomalies coincident with Ni, Cu anomalies Many similarities to other tabular Ni, Cu massive sulphide deposits
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- Detailed gravity survey confirms the mafic/ultramafic complex extends from 25 m to 1,200 m deep
- 8 drill targets identified (EM conductors)
For more information about the Company, please visit the Murchison website at www.murchisonminerals.com
For further information, please contact:
Murchison Minerals Ltd.
Erik Martin, Chief Financial Officer [email protected] (416) 350-‐3776 ext. 222 or Jean-‐Charles Potvin, President and Chief Executive Officer [email protected] (416) 350-‐3997
All scientific and technical disclosures with respect to the Company’s holdings in Uganda have been prepared under the supervision of Mr. Martin Taylor, P.Geo., a “Qualified Person” within the meaning of National Instrument 43-‐101.
All scientific and technical disclosures with respect to the Cloridorme property was prepared under the supervision of Claude Britt. P. Geo in 2013, a “Qualified Person” within the meaning of National Instrument 43-‐101.
Forward-‐Looking Information
Certain information set forth in this news release may contain forward-‐looking information that involves substantial known and unknown risks and uncertainties. This forward-‐looking information is subject to numerous risks and uncertainties, certain of which are beyond the control of the Company, including, but not limited to, the impact of general economic conditions, industry conditions, and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-‐looking information. The parties undertake no obligation to update forward-‐looking information except as otherwise may be required by applicable securities law.