Murchison Minerals Commences Geophysical Surveys Targeting Prospective Copper Stockwork Zone at BMK Project
News Release
Murchison Minerals Commences Geophysical Surveys Targeting
Prospective Copper Stockwork Zone at BMK Project
Highlights
• Commences ground geophysics program at the BMK Deposit consisting of Fixed Loop
Transient Electromagnetic and Borehole Electromagnetic (“EM”) surveys.
• Surveys are designed to assist in locating the copper-rich stockwork zone associated
with zinc-rich massive sulphide zones like those found at the BMK Deposit.
• The objective of the surveys is to refine the CST target area in anticipation of a winter
2024 diamond drill program.
• The CST target is located only 400 met res south of the BMK Deposit and is of similar
size and conductive strength, the target has not been previously drilled.
November 8th, 2023 (Burlington, Ontario): Murchison Minerals Ltd. (“Murchison” or the
“Company”) (TSXV: MUR | OTCQB: MURMF) is pleased to announce commencement of Fixed
Loop Transient Electromagnetic (FLTEM) and Borehole Electromagnetic (BHEM) surveys at its
100%-owned Cu-Zn-Ag-Pb-Au Volcanogenic Massive Sulphide ( VMS) BMK Project in
Saskatchewan. The focus of these surveys is to provide high -resolution geophysical data to aid
in the potential discovery of a copper -rich stockwork zone and additional lenses of sulphide
mineralization at the BMK Deposit. The surveys are being comp leted by Discovery International
Geophysics of Saskatoon, SK, a wholly owned division of Dias Geophysical of Saskatoon, SK.
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Figure 1: Location map of BMK Deposit and CST target.
Figure 2: Long-section View of BMK Deposit and CST target.
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BMK Geophysical Program:
The BMK VMS Project hosts the high -grade polymetallic massive sulphide Brabant-McKenzie
Deposit with a current N I 43-101 resource estimate of 2.1 Mt indicated at 0.69% Cu, 7.08% Zn,
0.49% Pb, 39.6 g/t Ag, 0.23 g/t Au and 7.6 Mt of inferred at 0.57% Cu, 4.46% Zn, 0.19% Pb, 18.42
g/t Ag, and 0.1 g/t Au (See NI 43-101 dated September 4, 2018). The Deposit remains open along
strike and at depth, and notably, is missing a copper stockwork zone which is typical of high -
grade VMS deposits – locating this zone is the primary objective at the BMK Project.
Reinterpretation of a 2017 Heli-SAM survey (hybrid ground/airborne electromagnetic survey) has
highlighted a high conductance, deep EM target, 400 meters south of the BMK Deposit (Figure 1).
The CST target is considered highly prospective and is top priority for Murchison to drill test. The
large size and proximity of the anomaly to the BMK Deposit may indicate a copper stockwork
zone or an additional lens of massive sulphide mineralization . The FLTEM survey will utilize an
EMIT SMART Fluxgate sensor and is designed to further refine this target in advance of
anticipated drilling in winter 2024.
In addition to FLTEM, a BHEM survey will be completed on the open drillhole BM21-001, located
approximately 185 m southwest of the BMK Deposit, which intersected 0.35 m of VMS style
mineralization at 1.13% Pb, 0.26% Zn, and 58.8 g/t Ag ( see April 13, 2021 release ). Murchison
infers that this mineralization indicates additional VMS mineralization maybe proximal. The area
remains highly prospective for expansion of the BMK Deposit, and results from the BHEM and
FLTEM surveys will be used as vector s towards identifying additional lenses of sulphide
mineralization. Past BHEM surveys have been successful in identifying VMS style mineralization
at the BMK Project.
Murchison Minerals’ CEO, President, & Director Troy Boisjoli comments:
“Murchison is eagerly anticipating the results of the FLTEM survey at the CST target area. This area
has been identified as being highly prospective to host the potential copper stockwork zone typical
of high -grade VMS deposits . The survey results will be incorporated into Murchison’s targeting
model in anticipation of a winter 2024 drill program at BMK.”
Murchison Minerals’ Vice-President of Exploration John Shmyr comments:
“The team is excited to collect additional data at the CST target to get it ready for drill testing. The
fact that the geophysical anomaly appears to be of similar size and conductance to the BMK Deposit
and is only 400 met res away is highly compelling. The discovery of the copper stockwork zone
proximal to BMK Deposit has the potential to add a significant amount to the resource estimate and
is our highest priority.”
Qualifying Statement
The foregoing scientific and technical disclosures on the BMK Project have been reviewed by
John Shmyr, P.Geo., VP Exploration, a registered member of the Professional Engineers and
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Geoscientists of Saskatchewan. Mr. Shmyr is a Qualified Person as defined by National
Instrument 43-101. The Qualified Person has verified the data disclosed in this release, including
sampling, analytical and test data underlying the information contained in this release. Mr. Shmyr
consents to the inclusion in the annou ncement of the matters based on his information in the
form and context in which it appears.
Some data disclosed in this News Release relating to sampling and drilling results is historical in
nature. Neither the Company nor a qualified person has yet verified this data and therefore
investors should not place undue reliance on such data. In some cases, the data may be
unverifiable due to lack of drill core. Mineralization hosted on adjacent and/or nearby and/or
geologically similar properties is not necessarily indicative of mineralization hosted on the
Company's properties.
About the BMK Project
The Brabant-McKenzie Project is located 175 kilometres northeast of La Ronge, Saskatchewan
and approximately three kilometres from the community of Brabant Lake. The area is accessed
year-round via provincial Highway 102 and is serviced by grid power. The project hosts the
Brabant-McKenzie VMS Deposit, and the mineral claims total 664 square kilometres, that cover
approximately 37 kilometres of strike length o f the favourable BMK trend. The project contains
multiple known mineralized showings such as the Main Lake and Betty Showings and with many
identified geophysical conductors that have yet to be drill tested.
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Figure 3: Location map of BMK Project.
Mineral Resource Summary for BMK VMS Deposit
2018 BMK Deposit Resource
Domain Tonnes
Contained Grade Contained Metal
Cu (%) Zn (%) Ag (g/t) Pb (%) Au (g/t) Cu Eq. (%) Zn Eq.
(%)
Cu
(000 lbs)
Zn
(000 lbs)
INDICATED MINERAL RESOURCE
Lower Zone 1,200,000 0.75 8.13 48.00 0.67 0.28 5.56 11.53 19,842 215,083
Upper Zone 900,000 0.60 5.70 28.52 0.24 0.17 3.82 7.93 11,905 113,097
Total Indicated 2,100,000 0.69 7.08 39.60 0.49 0.23 4.82 9.98 31,945 327,783
INFERRED MINERAL RESOURCE
Lower Zone 2,700,000 0.55 4.88 29.02 0.42 0.14 3.43 7.14 32,739 290,481
Upper Zone 4,900,000 0.57 4.22 12.46 0.06 0.08 2.79 5.81 61,575 455,871
Total Inferred 7,600,000 0.57 4.46 18.42 0.19 0.10 3.03 6.29 95,504 747,278
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MURCHISON MINERALS LTD. NEWS RELEASE
The above mineral resource estimate for the Brabant-McKenzie VMS Deposit was prepared by an
independent qualified person (“QP”) Finley Bakker, P. Geo., and has an effective date of
September 4, 2018. The NI 43 -101 Technical Report named Technical Report on the Resource
Estimate Update for the Brabant-McKenzie Property, Brabant Lake, Saskatchewan is available on
the Company’s website and on SEDAR. The Mineral Resource of the Brabant -McKenzie VMS
Deposit was estimated based on metal prices of USD $1.20/lb Zn, $2.50/lb Cu, $1.00/lb Pb,
$16.00/Oz. Ag, and $1,200/Oz. Au, and a USD exchange rate of $1.25. A Net Smelter Return (NSR)
cut-off of $90/tonne and a 3.5% zinc equivalent based on above metal prices and an average
recovery of 75% for all metals.
About Murchison Minerals Ltd. (TSXV: MUR, OTCQB: MURMF)
Murchison is a Canadian‐based exploration Company focused on nickel -copper-cobalt
exploration at the 100% - owned HPM Project in Quebec and the exploration and development of
the 100% - owned Brabant Lake zinc‐copper‐silver project in north‐central Saskatchewan.
Murchison currently has 218.2 million shares issued and outstanding.
Additional information about Murchison and its exploration projects can be found on the
Company’s website at www.murchisonminerals.ca . For further information, please contact:
Troy Boisjoli, President and CEO,
Erik H Martin, CFO, or
Justin LaFosse, Director Corporate Development
Tel: (416) 350‐3776
Forward‐Looking Information
The content and grades of any mineral deposits at the Company’s properties are conceptual in nature. There has been insufficient exploration to define a
mineral resource on the property and it is uncertain if further exploration will result in any target being delineated as a m ineral resource.
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 whic h 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. FLI herein
includes, but is not limited to: future drill results; stakeholder engagement and relationships; parameters and methods used with respect to the assay
results; the prospects, if any, of the deposits; future prospects at the deposits; and the significance of exploration activi ties and results. FLI is designed
to help you understand management’s current views of its near- and longer-term prospects, and it may not be appropriate for other purposes. FLI by their
nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance
or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such FLI.
Although the FLI contained in this press release is based upon what management believes, or believed at the time, to be reaso nable assumptions, the
Company cannot assure shareholders and prospective purchasers of securities of the Company that actual results will be consistent with such FLI, as
there may be other factors that cause results not to be as anticipated, estimated or intended, and neither the Company nor any other person assumes
responsibility for the accuracy and completeness of any such FLI. Except as required by law, the Company does not undertake, and assumes no
obligation, to update or revise any such FLI contained herein to reflect new events or circumstances, except as may be required by law. Unless otherwise
noted, this press release has been prepared based on information available as of the date of this press release. Accordingly, you should not place undue
reliance on the FLI or information contained herein. Furthermore, should one or more of the risks, uncertainties or other fac tors materialize, or should
underlying assumptions prove incorrect, actual results may vary materially from those described in FLI. Assumptions upon which FLI is based, without
limitation, include: the ability of exploration activities to accurately predict mineralization; the accuracy of geological modelling; the ability of the Company
to complete further exploration activities; the legitimacy of title and property interests in the deposits; the accuracy of key a ssumptions, parameters or
methods used to obtain the assay results; the ability of the Company to obtain required approvals; the results of exploration activities; the evolution of
the global economic climate; metal prices; environmental expectations; community and nongovernmental actions; and any impacts of COVID-19 on the
deposits, the Company’s financial position, the Company’s ability to secure required funding, or operations. Risks and uncertainties about the Company’s
business are more fully discussed in the disclosure materials filed with the securities regulatory authorities in Canada, whi ch are available at
www.sedar.com. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this releas e.
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