Murchison Minerals Completes Lithogeochemical Study at the BMK Cu-Zn-Ag-Pb-Au VMS Project in Saskatchewan and Identifies New Precious Metals Zone, Assays Return Grades up to 7.17 g/t Gold, 663 g/t Silver and 4.57% Lead
News Release
Murchison Minerals Completes Lithogeochemical Study at the
BMK Cu-Zn-Ag-Pb-Au VMS Project in Saskatchewan and
Identifies New Precious Metals Zone, Assays Return Grades up
to 7.17 g/t Gold, 663 g/t Silver and 4.57% Lead
Highlights
• Dr. Stephen J. Piercey, VMS expert, completed a lithogeochemical study of host rocks
at the Company’s BMK VMS Deposit and associated regional VMS targets situated on
the 37 km long BMK Trend (Figure 1).
• The Study confirms that the volcaniclastic- and sedimentary-rich assemblages within
the BMK Trend are typical of those hosting high tonnage VMS deposits and districts
globally, such as those observed in the high-grade VMS Bathurst Mining Camp, New
Brunswick
• New zone of pre cious metals, gold-silver-lead (Au -Ag-Pb) mineralization, has been
identified at the BMK Deposit:
o Assay results from a previously unsampled interval of drill hole BR07-39 –
situated below the lower zone of VMS mineralization at the BMK Deposit –
returned grades of 0.84 g/t Au, 95.05 g/t Ag, & 0.48% Pb over 5.75 metres
including 7.17 g/t Au, 663 g/t Ag & 4.57% Pb over 0.5 metres.
o The Company has identified similar lithological and alteration assemblages that
are associated with the Au-Ag-Pb mineralization (Figure 3) in previously
unsampled sections of other drill holes across the BMK Deposit – highlighting
the prospectivity of growing the precious metals component of the Deposit in
future resource updates.
• Regionally, the study confirmed host lithologies and alteration types found at Main Lake
(along strike to the south of BMK) and the Betty Target (located on strike to the north)
are well developed and consistent with that observed at the BMK Deposit, verifying the
prospectivity of the BMK Trend to host additional VMS Deposits.
May 14th, 2024 (Burlington, Ontario): Murchison Minerals Ltd. (“Murchison” or the “ Company”)
(TSXV: MUR | OTC: MURMF) is pleased to announce results from a comprehensive
Lithogeochemical Study of the Host Rocks at the BMK Deposit and associated VMS showings
(the “Study”) along the 37 km BMK Trend at its 100% -owned Cu -Zn-Ag-Pb-Au Volcanogenic
Massive Sulphide (VMS) BMK Project in Saskatchewan.
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The Study was conducted by Dr. Stephen J. Pierc ey (SJPGeoConsulting, St. John’s , NL.),
University Research Professor in the Department of Earth Sciences at Memorial University, NL
who is a globally recognized VMS expert . The Study focused on analyzing the geochemical
signatures of the rock and alteration types at the BMK Project. Findings from the study are based
on data collected from the Company’s Spring 2023 re-logging and re-sampling program, which
analyzed samples from a selection of drill holes from across the BMK Trend. The re-logging and
sample selection was conducted by Dr. Piercey with support from Murchison’s Exploration team.
Results from the Study confirm the geological setting of the BMK Deposit and associated VMS
showings as having formed in a volcaniclastic - and silicic-dominated dominated back-arc basin
with mineralization associated with felsic volcaniclastic rocks, similar to other felsic-siliciclastic
VMS districts globally, including the Bathurst Mining Camp (NB) and the Finlayson Lake district
(Yukon). Results provides further evidence in support of the Company’s thesis, that the BMK
Project area is highly prospective to host additional VMS deposits.
As part of the Study, the Company selected drill hole BR07-39 for re-logging and re-sampling –
the hole was drilled through the centre of the BMK Deposit. Assay results from an interval of
BR07-39 located below the lower zone of mineralization at the BMK Deposit – an interval
previously thought to be barren – returned high-grade Gold-Silver-Lead (Au-Ag-Pb) mineralization.
The newly identified Au-Ag-Pb mineralization is associated with cryptic galena (Figure 3). Other
drill holes across the BMK Deposit have intersected similar rock units, indicating a previously
unidentified precious metals zone has been discovered. The Company is currently planning
additional re-sampling to confirm the size and grade of the Gold-rich zone.
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Figure 1: Plan Map showing the BMK Project Area, Prospective VMS Trends, and VMS Showings
and Deposit
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Figure 2- Long Section View of BMK Deposit Model, highlighting new precious metal
mineralization discovered in BR07-39.
Table 1 – Assay Results from Hole BR07-39 with new and previous results highlighted
Hole ID From
(m)
To
(m)
Interval*
(m) Cu % Zn % Pb % Ag (g/t) Au (g/t)
Historic BR07-39 304.50 307.00 2.50 0.48 6.13 0.07 20.34 0.06
*NEW* BR07-39 313.26 313.76 0.50 0.26 0.08 0.01 13.40 0.07
Historic BR07-39 316.40 322.60 6.20 0.43 3.41 0.79 37.98 0.18
*NEW* BR07-39 331.30 332.05 0.75 1.11 1.09 0.08 83.30 0.52
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Historic BR07-39 334.59 340.40 5.81 0.62 10.06 0.36 40.48 0.15
Historic BR07-39 378.40 380.20 1.80 0.53 16.27 0.04 24.00 0.45
*NEW* BR07-39 383.74 384.75 1.01 0.15 0.02 0.01 15.80 0.03
*NEW* BR07-39 390.25 396.00 5.75 0.05 0.03 0.48 95.05 0.84
including 394.50 395.00 0.50 0.02 0.04 4.57 663.00 7.17
* Reported as core length, true thickness is approximately 90%.
Figure 3: Photo of BR07-39 historic drill core displaying the newly discovered cryptic galena (lead
sulphide) which when sampled hosts significant gold-silver mineralization.
Murchison Minerals’ Technical Advisor Dr. Stephen J. Piercey comments:
"It is nice to see the geochemistry verify what we anticipated based on the geological investigations
of the drill core in 2023. The lithofacies and mineralization styles in the core are very similar to what
we see in other metamorphosed felsic-siliciclastic VMS districts globally, and the lithogeochemical
signatures of those rocks are also like signatures found in the host rocks in these districts. In
addition, alteration signatures recorded in the host rock lithogeochemistry in the Main Lake and
Betty pro spects are similar to the Brabant -Mackenzie deposit illustrating that VMS alteration
processes occurred elsewhere in the BMK Trend and that these areas are high -priority targets for
further exploration and VMS targeting."
Murchison Minerals’ Vice-President of Exploration John Shmyr comments:
“Findings from the Study demonstrate the continuation of prospective lithological and alteration
assemblages along the 37 km BMK Trend, indicating the geological setting is right to host additional
VMS deposits. Additionally, the new precious metals discovery at the BMK Deposit is extremely
exciting and has the potential to add significant value to future resource updates. The Company is
planning a robust relogging and resampling program on all off its historic drill holes at the BMK
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Deposit. The objective of which will be to determine the size and scale of the new zone and the
potential identification of additional zones.”
Table 2 – Collar Information for Hole BR07-39
Hole Easting UTM* Northing UTM* Elevation (m) Azimuth (°) Dip (°) Length (m)
BR07-039 6221199 580719 380 120 -75 380
*UTM Projected Coordinate System: NAD83 UTM Zone 13N
QA/QC
Murchison has implemented and is adhering to a strict quality assurance/quality control program.
NQ-size core mineralized intervals were marked by geologists during core description. The marked
intervals were sampled using a core saw, one -half is kept as a witness sample at core facility in
Brabant Lake, Saskatchewan and the other assigned a unique number and placed within a plastic
bag. Samples were shipped directly to SRC Geoanalytical Labs in Saskatoon, Saskatchewan. The
samples were ground and prepared for analysis by the lab using total digestion. Analyzes were
performed using inductively coupled plasma optical emission spectroscopy ( ICP-OES) for copper,
zinc, lead and silver. Gold was analyzed by fire assay. Every 25th sample sent to the lab was a field
duplicate (quarter core), blanks and certified reference material were also submitted approximately
every 25th sample. All analyses were undertaken at SRC Geoanalytical Laboratories in Saskatoon,
Saskatchewan.
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
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 announcement 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
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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.
Figure 4: Location map of BMK Project.
Table 3 - 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
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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
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, OTC: MURMF)
Murchison is a Canadian‐based exploration Company focused on the exploration and
development of the 100% - owned Brabant Lake zinc‐copper‐silver project in north‐central
Saskatchewan and on nickel-copper-cobalt exploration at the 100% - owned HPM Project in
Quebec.
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; parameter s 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 reasonable 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