Murchison Discovers Multiple New Mineralized Showings at HPM and Identifies Beep Mat anomaly 120 m Along Strike to the Southwest of the BDF Zone
News Release
Murchison Discovers Multiple New Mineralized Showings at
HPM and Identifies Beep Mat anomaly 120 m Along Strike to the
Southwest of the BDF Zone
October 5th, 2022 (Burlington, Ontario): Murchison Minerals Ltd. (“Murchison” or the “Company”)
(TSXV: MUR OTCQB: MURMF) is pleased to announce the preliminary results of the prospecting
Phase of the 2022 summer exploration program on the 100% - owned HPM (Haut-Plateau de la
Manicouagan) Project, located in Quebec. The prospecting program s uccessfully completed its
two main objectives:
i) Locating and expanding areas of surface mineralization at previously identified zones
and showings at HPM, de-risking areas for future exploration.
ii) Discovering new regional showings of sulphide mineralizatio n throughout the HPM
project area.
For the regional prospecting program, d ue to the high number of identified EM anomalies (over
75), the Company focused prospecting mainly on those anomalies identified during the 2021
VTEM survey. This scope covered only a localized portion of the total 648 km 2 area that makes
up the HPM project.
Highlights:
• Regional prospecting discovered numerous new showings of sulphide mineralization,
outcropping and subcropping at surface including the newly titled target areas:
Taureau, Loup, and Orignal.
• Intersected semi-massive sulphide mineralization at the Taureau showing (Figure 1).
• At Barre de Fer (BDF Zone), the strike length of the prospective airborne
electromagnetic (EM) anomaly was expanded to approximately 600 m.
• Located disseminated sulphide mineralization, coincident with an adjacent Beep Mat
anomaly, outcropping 120 m along strike to the southwest of the BDF Zone.
• Expanded surface sulphide mineralization at Syrah contiguously from 375 m to
approximately 780 m through “beep mat” surveying and backpack drill sampling.
Murchison Minerals President and CEO Troy Boisjoli comments:
2 | P a g e
MURCHISON MINERALS LTD. NEWS RELEASE
“The 2022 summer prospecting program at the HPM project did exactly what it set out to do:
discover and de-risk new areas of sulphide mineralization for future exploration. The program has
further demonstrated the district -scale nickel -bearing sulphide potential of HPM. As the world
transitions away from fossil fuels, the discovery of Class I nickel , needed to produce batteries ,
becomes ever more critical. The 2022 program has just scratched the surface at HPM, and what we
are finding has us very excited about exploring in an emerging nickel district in Canada.”
Murchison Minerals Vice-President of Exploration John Shmyr comments:
“The sheer number of Ni-Cu-Co bearing sulphide showings discovered on surface at HPM property
to date is simply remarkable. We are seeing a distribution of various mafic and ultramafic rock types
associated with sulphide mineralization – typical of many producing nickel jurisdictions – which
speaks to the scope and scale of the magmatic m ineralizing systems present within the intrusive
complex that makes up HPM. Based on the newly discovered showings as well as the additional
high-priority EM targets recently identified by the 2022 VTEM survey, the team is extremely
encouraged for future exploration programs at HPM.”
Figure 1: Semi-massive sulphide mineralization observed in backpack drill core at Taureau
showing.
New Showings
Numerous new showings of sulphide mineralization were discovered throughout the course of
the summer 2022 prospecting program. The most notable of the new discoveries are: Taureau,
Loup and Élan showings (Figure 3). The Taureau showing consists of a beep mat anomaly
correlated with a strong airborne EM anomaly, approximately 3.4 km East of the BDF Zone. High
beep mat readings in multiple locations were mapped over a 210 m area and was tested with 3
backpack drill holes. The mineralization consists of semi -massive to stringer -type sulphide
mineralization ( Figure 1). XRF readings confirm the presence of Ni mineralization , assays are
pending.
3 | P a g e
MURCHISON MINERALS LTD. NEWS RELEASE
Figure 2: Closeup of mineralization in backpack core from the Taureau showing with semi-massive
sulphide (pyrrhotite and chalcopyrite) mineralization.
The Loup showing consists of blebs of sulphide mineralization hosted within actinolite-magnetite
breccia located adjacent to strong prospective airborne EM anoma lies. XRF readings confirm s
the presence of anomalously high values of copper and cobalt discovered within the backpack
drill holes , assays are pending. The correlation of mineralization adjacent to prospective EM
anomalies significantly elevates the prospectivity of the correlating geophysical anomalies as
future exploration targets.
The Orignal target is an area with multiple, complex, and strong airborne EM anomalies. The area
hosts multiple mafic intrusive rock types (similar to those rock types hosting mineralization within
the HPM project area) and pyrrhotite mineralization has been discovered in mu ltiple locations.
The mineralization discovered does not explain the most prospective EM conductors in the area.
However, it is encouraging as the correlation with sulphide mineralization indicates the area has
the potential to host more significant sulphide mineralization at depth. The most p rospective
anomalies at Orignal remain unexplored.
4 | P a g e
MURCHISON MINERALS LTD. NEWS RELEASE
Figure 3: 2022 Prospecting Locations with 2021 and 2022 Airborne Geophysical Data.
BDF, Syrah, and Malbec
The prospecting teams were successful in further defining surface mineralization at BDF in
multiple locations (Figure 7). The mineralization on surface consists of massive, semi -massive
and stringer -type sulphide mineralization (Figure 4 and 5 ), assays are pending. Disseminated
mineralization was also identified in an outcrop approximately 120 m along strike to the
southwest of the BDF Zone, assay from a grab sample is pending. Additionally, a strong beep mat
anomaly was identified 40 m northeast from the disseminated sulphide sample. Furthermore, the
prospective EM anomaly at BDF has expanded to a strike length of 600 m based on the
preliminary 2022 VTEM survey. The BDF Zone was re-flown in 2022 in a n east-west survey
orientation from the previous north-south orientation.
The mineralized footprint at Syrah has now been traced over 780 m , with areas of sulphide
mineralization having been located to the northeast and southwest. Additionally, at Malbec
sulphide mineralization was i dentified in grab samples (Figure 6), backpack drillholes, and beep
mat anomaly that been traced over approximately 775 m.
5 | P a g e
MURCHISON MINERALS LTD. NEWS RELEASE
Figure 4: Massive sulphide intersected at surface by backpack drill hole within the BDF zone.
Figure 5: Closeup of mineralization intersected by backpack drill hole within the BDF zone.
6 | P a g e
MURCHISON MINERALS LTD. NEWS RELEASE
Figure 6: Sulphide mineralization identified in grab sample at Malbec showing.
7 | P a g e
MURCHISON MINERALS LTD. NEWS RELEASE
Figure 7: 2022 prospecting and “beep mat” surface conductivity mapping at Barre de Fer & Syrah
showings.
About the HPM Project
The HPM Project is located within the Haut -Plateau de la Manicouagan area, east of the
Manicouagan structure, the site of a major 215 Ma impact event. The extensive reservoir at
Manicouagan supports five hydro-power plants. The existing Quebec Cartier rail line, located eight
kilometres west of the PYC target area, links Labrador City to Port Cartier and Sept Iles, two major
iron ore port facilities.
8 | P a g e
MURCHISON MINERALS LTD. NEWS RELEASE
Figure 8: HPM Location Map
The claims host prospective gabbroic, ultramafic and anorthositic bodies within the
Manicouagan metamorphic complex and are associated with significant n ickel-copper-cobalt
sulphide mineralization first identified by Falconbridge in 1999, where they discovered extensive
nickel-bearing sulphide mineralization at BDF during drilling in 2001 - 2002. Murchison Minerals
Ltd.’s predecessor – Manicouagan Minerals – drilled in the area in 2008 and 2009. The majority
of the past drilling at the HPM Project targeted the BDF geophysical conductor and confirmed the
presence of nickel-copper-cobalt sulphide mineralization over approximately 300 m strike length
to a depth of 295 m. The mineralization remains open at depth and partially along strike.
In March of 2022, the Company completed a comprehensive data compilation, verification and
modelling program, comprising all previous drill hole data from the BDF Zone. The modelling
program consisted of developing a preliminary 3D interpretation of nickel mineralization at BDF.
Based on the modelling, the BDF Zone outcrops on surface, extends to a vertical depth of 295 m,
has a strike length of 315 m, and is compos ed of multiple stacked lenses over a maximum
footprint width of 150 m. Individual lenses have a maximum thickness of 28 m . During the 2022