Murchison Minerals Concludes Winter Diamond Drill Program, Expands VMS Mineralization (Copper-Zinc-Silver-Lead-Gold) at BMK Deposit
News Release
Murchison Minerals Concludes Winter Diamond Drill Program,
Expands VMS Mineralization (Copper-Zinc-Silver-Lead-Gold) at
BMK Deposit
• The 2024 Winter Diamond Drill Program successfully expanded VMS mineralization at
the BMK Deposit, demonstrating the Deposit remains open and highly prospective for
further expansion and discovery of an associated copper stockwork zone
• The Program comprised four diamond drill holes totaling 2,712 metres
• Four target areas, designed as a first pass across BMK Deposit and proximal anomalies
were tested:
o BMK Extension (three targets): one hole each at BMK North and South designed
to test along strike from the BMK Deposit, and one hole at BMK Deep which tested
below the known extents of the BMK Deposit
o CST, a HeliSAM target, which lies 400 m along strike to the southwest of the BMK
Deposit
• BMK North and South Extension Targets - drilling expanded the footprint of
mineralization along strike from BMK, highlighted by:
o BMK24-002 intersected mineralization 100 m to the northwest of the Deposit ’s
current footprint, intersecting grades up to 1.96% copper, with a higher copper to
zinc ratio indicative of copper stockwork mineralization.
• BMK Deep Extension Target – drilling successfully intersected mineralization at depth
below the known extents of the BMK Deposit, highlighted by:
o BMK24-003 intersecting 2.78 m of 1.04% CuEq. 110 m below the known extents
of the BMK Deposit.
• CST Target – drilling intersected strong VMS alteration, which was later correlated to an
off-hole geophysical anomaly identified during a Bore hole EM (BHEM) Survey. The
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alteration associated with the anomaly indicates the CST area remains prospective.
Additionally, drilling intersected high-grade rare earth elements (REEs), highlighted by:
o CST24-001 which intersected 7.76% TREO over 0.5 metre, this is the first drill
hole on the BMK Project to intersect high -grade REE s and the Company will
undertake a review of historic drill holes for possible resampling.
April 29th, 2024 (Burlington, Ontario): Murchison Minerals Ltd. (“Murchison” or the “Company”)
(TSXV: MUR | OTCQB: MURMF) is pleased to announce that it has concluded the 2024 Winter
Exploration Program (the “Program”) at its 100%-owned Cu-Zn-Ag-Pb-Au Volcanogenic Massive
Sulphide (VMS) BMK Project in Saskatchewan. The Program was designed to provide a first pass
reconnaissance for the discovery of a potential copper stockwork zone associated with the
formation of the BMK Deposit . In total, 2,712 m were completed, comprising four diamond drill
holes, which tested four high-priority target areas (one hole at each target area) . Three target
areas: BMK Deep, North and South followed up on previous drilling at the BMK Deposit , where
high-grade copper has been intersected . The four th target, CST , tested a geophysical anomaly
400 m along strike to the southwest of the BMK Deposit. The three drill holes at the BMK
Extension Targets successfully expanded the footprint of VMS mineralization at the BMK Deposit,
demonstrating that the Deposit remains open and prospective for further expansion and
discovery of an associated copper stockwork zone. Significantly, at BMK North, drill hole BMK24-
003 intersected a zone of VMS mineralisation with a high copper to zinc ratio. Similar high copper
to zinc ratios have been intersected during previous drill campaigns which targeted the northern
extent of the BMK Deposit. The Company is encouraged by these intersections, indicating the
potential for a nearby copper stockwork zone proximal to the northern extent of the BMK Deposit.
At the CST Target area, drilling intersected a significant interval of VMS type alteration which
correlates with an off-hole borehole electromagnetic conductor, indicating the drill hole may have
narrowly missed a zone of VMS mineralization. The 2024 Program demonstrates the BMK
Deposit remains open for further expansion of VMS mineralization. Additionally, the results from
this first pass testing are encouraging for the discovery of an associated copper stockwork zone
during future drill campaigns.
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Figure 1: Plan Map View of BMK Deposit and CST target with 2024 drill holes highlighted.
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Figure 2- Long Section View of BMK Deposit.
Table 1: 2024 BMK Program Highlight Results
Hole ID From (m) To (m) Interval (m) Cu (%) Zn (%) Pb (%) Au (g/t) Ag (g/t) Cu Eq. (%) Zn Eq. (%)
BMK24-001 459.2 459.82 0.62 0.10 1.07 0.03 0.04 3.90 0.48 1.69
BMK24-002 394.6 397.7 3.1 0.65 0.35 0.03 0.07 8.63 0.89 3.12
Includes 394.6 395.1 0.5 1.96 1.00 0.01 0.04 23.53 2.48 8.68
BMK24-003 724.22 727 2.78 0.33 1.97 0.05 0.09 7.75 1.04 3.62
Includes 724.71 726.13 1.42 0.54 3.11 0.07 0.03 11.73 1.57 5.51
BMK24-003 732 733 1 0.03 0.03 0.61 0.19 15.08 0.45 1.56
BMK24-003 748.85 749.42 0.57 0.08 1.85 0.43 0.01 18.14 0.87 3.04
* Reported as core length, intervals 90 to 100% true thickness. **Copper Equivalent (Cu Eq.) & Zinc Equivalent (Zn
Eq.) values were calculated using the following USD metal prices from April 21, 2024: $4.4883/lb Copper, $1.2828/lb
Zinc, $0.9825/lb Lead, $2330.46/Oz Gold, and $27.208/Oz Silver. The following recovery factors were applied to the
equivalent values based on preliminary metallurgical work completed in 2021 factoring in optimization: 95% Zn, 85%
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Cu, 80% Pb, 65% Au, 60% Ag. Please note that copper equivalent is in substitution for zinc equivalent and not in
addition to.
Table 2: 2024 CST Rare Earth Element Highlight Result
Hole ID From
(m)
To
(m)
Length
(m) *
Ce2O3
(%)
Dy2O3
(%)
Gd2O3
(%)
La2O3
(%)
Nd2O3
(%)
Pr2O3
(%)
Sm2O3
(%)
Tb2O3
(%)
Y2O3
(%)
TREO
(%)**
CST24-
001 581.5 581.96 0.5 3.55 0.03 0.14 1.68 1.56 0.46 0.25 0.01 0.08 7.76
*Reported as core length, true thickness unknown. **TREO calculated as Ce2O3 (%) + Dy2O3 (%) + Gd2O3 (%) + La2O3
(%) + Nd2O3 (%) + Pr2O3 (%) + Sm2O3 (%) + Tb2O3 (%) + Y2O3 (%) = TREO (%).
Table 3: Drillhole Information
Hole Easting
UTM*
Northing
UTM*
Elevation
(m)
Azimuth
(°)
Dip
(°)
Length
(m)
BMK24-001 580256 6220839 374 120 -67 546
BMK24-002 580727 6221513 393 122 -70 497
BMK24-003 580339 6221490 393 120 -70 827
CST24-001 579598 6220327 366 115 -63 842
*UTM Projected Coordinate System NAD83 UTM Zone 13N
2024 Winter Drilling:
• CST24-001 was drilled to test the CST geophysical target 400 m south west of the BMK
Deposit. Due to ground conditions, the drill hole shallowed out, deviating significantly from
the targeted pierce point intersecting the geophysical anomaly approximately 150 m from
its center. A significant zone (over 6 m in length) of garnet-anthophyllite-cordierite-biotite
gneiss consistent with alteration observed at the BMK Deposit was intersected at 410 m
depth. A subsequent borehole electromagnetic survey was completed on the hole and
indicates an off -hole conductive anomaly appears to be associated with the alteration.
Multiple graphitic conductors were intersected at depth s of 438 m , 463 m and 733 m
which partially explain the HeliSAM geophysical response. Additionally, a 0.5 metre spot
sample was submitted for REEs analysis associated with a pegmatite (Figure 3) which
returned very significant grades of REEs yielding 7.76% TREO (Table 2). The Company
considers the presence of such high-grade REEs encouraging and will complete a property
wide review of previous drill, grab and outcrop samples for additional occurrences.
• BMK24-001 was drilled to test the BMK South Extension, the hole intersecte d a narrow
interval of mineralization (Table 1) confirming the presence of VMS mineralization south
of the Deposit.
• BMK24-002 was drilled to test the BMK North Extension, the hole successfully intersected
mineralization 100 m to the northwest of BMK’s current footprint, intersecting grades of
up to 1.96% copper with mineralization having a high copper to zinc ratio which is
indicative of copper stockwork mineralization. These results are considered encouraging,
and the Company will focus additional exploration to the north of the Deposit.
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• BMK24-003 was drilled to test the extent of the BMK Deposit and the potential for a
copper stockwork zone. The hole successfully intersected mineralization 110 m down-dip
from the current footprint of the BMK Deposit (Table 1).
Figure 3 – CST drill core displaying close up of high-grade rare earth element mineralization.
Murchison Minerals’ Vice-President of Exploration comments:
“While w e did not intersect the primary anomaly at CST , the presence of strong VMS alteration
similar to what we observe at BMK is encouraging and the association with an off-hole conductor
suggests a near miss . We are also excited by the continued presence of high copper ratio
mineralization north of the BMK Deposit and it suggests we are continuing to vector into the copper
stockwork. Immediately north of the Deposit has seen very limited historic exploration as the area
was previously unavailable for staking, those limitations are now removed so we plan to focus our
exploration in this area.”
Rare Earth Element
Mineralization
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QA/QC
Murchison has implemented and is adhering to a strict Quality Assurance/Quality Control
program. NQ-size core was drilled, and 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. The specific gravity of every sample was measured using
the mass -in-air / mass -in-water method. 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 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.
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 B MK 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 BMK VMS
Deposit, and the mineral claims total 6 64 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