Murchison Intersects Best Hole to Date on HPM Property 121.2 metre Interval with a pXRF Estimate of 1.39% Ni Eq (or 4.14% Cu Eq)– including 21.0 metre at 3.43% Ni Eq (or 10.25% Cu Eq)
News Release
Murchison Intersects Best Hole to Date on HPM Property 121.2
metre Interval with a pXRF Estimate of 1.39% Ni Eq (or 4.14% Cu
Eq)– including 21.0 metre at 3.43% Ni Eq (or 10.25% Cu Eq)
September 14th, 2022 (Burlington, Ontario): Murchison Minerals Ltd. (“Murchison” or the
“Company”) (TSXV: MUR | OTCQB: MURMF ) is pleased to announce results analysed using
portable x-ray fluorescence (pXRF) from the second diamond drillhole, at the Barre de Fer (“BDF”)
zone, as part of the 2022 Summer Exploration Program on the 100% - owned HPM (Haut-Plateau
de la Manicouagan) Project, located in Quebec.
It should be noted that pXRF results provide only an indication of the amount of Ni, Cu, and Co
present, Certified assaying of the core samples is still r equired to accurately determine the
amount of mineralization (Nickel- Copper-Cobalt). The Company has implemented rigorous
QA/QC procedures utilizing a direct rock sampler (Figure 9) to produce reasonably representative
preliminary results (see pXRF Sample Procedures and QA/QC below).
BDF22-002 Highlights
• The hole was drilled to a depth of 452 m and intersected two broad zones of Ni-Cu-Co
sulphide bearing mineralization totalling 1 75.15 m of composite thickness (Table 1)
including:
o 121.20 m estimated at 1.39% pXRF Ni Eq. (123.80 to 245.0 m)
Including 10.10 m at 2.75% pXRF Ni Eq. (134.1 to 144.20 m)
Including 44.00 m at 2.18% pXRF Ni Eq. (152.00 to 196.00 m)
Including 28.80 m at 3.03% pXRF Ni Eq. (152.00 to 180.80 m)
Including 21.00 m at 3.43% pXRF Ni Eq. (152.5 to 173.5 m)
Including 3.75 m at 3.43% pXRF Ni Eq. (177.05 to 180.8 m)
Including 10.50 m at 1.97% pXRF Ni Eq. (207.5 to 218.0 m)
o 53.95 m disseminated sulphide zone estimated at 0.25% pXRF Ni Eq. (303.55 to
357.50 m)
• Best intersection drilled to date on the HPM Property
• The hole successfully confirmed mineralization downdip from DH -151-02, exceeding
expectations. The hole also confirmed mineralization up dip of DH-151-05EX.
• The majority of the mineralization is outside of the previously modelled zone (Figure 7)
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MURCHISON MINERALS LTD. NEWS RELEASE
Figure 1: Massive sulphide mineralization in BDF22-002 at 152.00 m to 161.00 m.
Murchison Minerals President and CEO Troy Boisjoli comments:
“The objective of the 2022 drill program was to expand near-surface high-grade nickel, copper, cobalt
mineralization at the Barre de Fer Zone and the holes to date are delivering on that objective. The
pXRF results from BDF22 -002 have exceeded our expectat ions in terms of estimated grade and
thickness - 121.20 m estimated at 1.41% pXRF Ni Eq (or 4.14 % Cu Eq) is a very significant nickel
bearing magmatic sulphide intersection and I congratulate Murchison’s technical team. The 2022
drilling results will enable to Company to materially advance the Ni -Cu-Co HPM Project, at a time
when the world is desperate for future supply of critical minerals.”
Murchison Minerals Vice-President of Exploration John Shmyr comments:
“The results from BDF22-002 are exceptional and further indicate the size and scale of the sulphide
mineralizing system that is present at B DF. Our geologic understanding has grown significantly
throughout the drill campaign. Our work further confirms BDF as magmatic chonolith type system
and other chonolith type deposits like Voisey’s Bay are composed of multiple zones, which has the
technical team excited about the exploration potential.”
Table 1: BDF22-002 pXRF Results
Hole From
(m)
To
(m)
Length*
(m)
pXRF
Ni %
pXRF
Cu %
pXRF
Co %
pXRF Ni
Eq. %**
pXRF Cu
Eq. %**
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MURCHISON MINERALS LTD. NEWS RELEASE
BDF22-002
123.8 245 121.20 1.08 0.59 0.05 1.39 4.14
Includes 134.1 144.2 10.10 2.19 1.02 0.10 2.75 8.22
Includes 152 196 44.00 1.72 0.84 0.08 2.18 6.51
Including 152 180.8 28.80 2.39 1.18 0.11 3.03 9.05
Including 152.5 173.5 21.00 2.67 1.48 0.12 3.43 10.25
Including 177.05 180.8 3.75 2.95 0.56 0.14 3.43 10.24
Includes 207.5 218 10.50 1.45 1.05 0.08 1.97 5.89
303.55 357.5 53.95 0.20 0.13 0.00 0.25 0.74
* Reported as core length, true thickness is not known. **Nickel Equivalent (Ni Eq) & Copper Equivalent (Cu Eq) values
were calculated using the following USD metal prices from Sept 12, 2022: $10.84/lb Nickel, $3.63/lb Copper, and
$23.56/lb Cobalt. Ni Eq.% was calculated using Ni%+((Cu Price/Ni Price) *Cu %)+((Co Price/Ni Price) *Co %). Cu Eq.%
was calculated using Cu%+((Ni Price/Cu Price)* Ni %)+((Co Price/Cu Price)*Co %).
Table 2: Drill Hole Information
Hole Easting Northing Elevation
(m) Depth (m) Azimuth (°) Dip (°)
BDF22-002
614991
5722902
891
452
233
-57
BDF22-002 Mineralization
The mineralization observed in BDF22 -002 occurs within two separate zones. The upper zone
comprises multi-metre intervals of massive and breccia sul phide within zones of stringer and
disseminated sulphide mineralization hosted in peridotite and norite (Figure 3 & 5).
The lower zone of mineralization (303.55 m to 357.50 m) comprises primarily disseminated
sulphide, over a broad 53.95m wide zone hosted within an olivine gabbronorite.
The sulphide mineralization consists of pyrrhotite with granular pentlandite and chalcopyrite
loops with pentlandite. The massive sulphide mineralization is predominantly hosted in a dark,
moderately serpentinized peridotite and lesser olivine gabbronorites and a dark, fine grained
norite. The primary magmatic sul phide mineral textures coupled with t he development of
disseminated sulphide mineralization and magmatic breccias indicate that the mineralization is
similar to chonolith style deposits like Voisey’s Bay. Work progresses to define the stratigraphic
controls of the intrusive rocks on the distribution of massive, breccia, and disseminated sulphide
types; these controls will guide future exploration in the extension and discovery of additional
mineral zone along strike and at depth.
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MURCHISON MINERALS LTD. NEWS RELEASE
l
Figure 2: Close-up of Massive and semi-massive sulphide mineralization in BDF22-002.
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MURCHISON MINERALS LTD. NEWS RELEASE
Figure 3: Massive sulphide mineralization in BDF22-002 at 135.70 m to 180.80 m.
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MURCHISON MINERALS LTD. NEWS RELEASE
Figure 4: Zoom in on Massive Sulphide in BDF22-002 displaying observable pentlandite (nickel
sulphide) and chalcopyrite (copper sulphide) with pyrrhotite (iron sulphide) mineralization.
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MURCHISON MINERALS LTD. NEWS RELEASE
Figure 5: Massive, semi-massive, stringer to disseminated mineralization observed in BDF22-002
at 204.00 m to 234.00 m.
2022 Summer Diamond Drilling
During the 2022 summer exploration program, a total of 13 diamond drill holes were completed,
comprising 4,316 metres. This includes ten drillholes at BDF, and an additional three holes at
Syrah. The drill core is currently undergoing processing and pXRF results are being determined.
Results will be released as soon as the data has been verified. The previously released pXRF
results from BDF22 -001 (See September 8th Release and Table 3) demonstrated significant
expansion below the current modeled mineral zones. These results paired with the results from
BDF22-002, highlights significantly potential for expansion of the BDF mineral zone and the
Company considers these results exceptional.
The Company is progressing towards establishing a maiden resource on BDF by early Q1 of 2023.
Observations made on the drill core including the proportions of sulphide to gangue, the
mineralogy of the sulphides, and their textural relationships when coupled with the results from
the pXRF have allowed Murchison to prioritize exploration and report new results in a timely way.
Samples from BDF22-002 have been sent to the Saskatchewan Research Council’s Geoanalytical
Laboratory for commercial certified assaying and the Company is awaiting the results.
Table 3: 2022 Drill Campaign pXRF Results to date
Hole From
(m)
To
(m)
Length*
(m)
pXRF
Ni %
pXRF
Cu %
pXRF
Co %
pXRF
Ni Eq.
%**
pXRF
Cu Eq.
%**
BDF22-001
89.95 108 18.05 1.58 0.56 0.08 1.94 5.79
Includes 96.5 108 11.5 2.13 0.64 0.1 2.56 7.65
Includes 97.8 105.9 8.1 2.82 0.78 0.13 3.36 10.04
122 132.85 10.85 0.29 0.24 0.02 0.41 1.24
180.5 189 8.5 0.63 0.3 0.03 0.80 2.37
196.5 219.2 22.7 0.2 0.1 0 0.23 0.70
267 336.9 69.9 0.5 0.24 0.04 0.67 1.99
Includes 283.4 299.5 16.1 1.03 0.48 0.08 1.36 4.07
BDF22-002
123.8 245 121.2 1.08 0.59 0.05 1.39 4.14
Includes 134.1 144.2 10.1 2.19 1.02 0.10 2.75 8.22
Includes 152 196 44 1.72 0.84 0.08 2.18 6.51
Including 152 180.8 28.8 2.39 1.18 0.11 3.03 9.05
Including 152.5 173.5 21 2.67 1.48 0.12 3.43 10.25
Including 177.05 180.8 3.75 2.95 0.56 0.14 3.43 10.24
Includes 207.5 218 10.5 1.45 1.05 0.08 1.97 5.89
303.55 357.50 53.95 0.20 0.13 0.00 0.25 0.74
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MURCHISON MINERALS LTD. NEWS RELEASE
* Reported as core length, true thickness is not known. **Nickel Equivalent (Ni Eq) & Copper Equivalent (Cu Eq) values
were calculated using the following USD metal prices from Sept 12, 2022: $10.84/lb Nickel, $3.63/lb Copper, and
$23.56/lb Cobalt.
Figure 6: Location map of Barre de Fer, showing drill hole BDF22-002 & BDF22-001