Murchison Receives Approval for Expansion of Brabant Zinc Project, Saskatchewan
Murchison Minerals Ltd.
18 King Street East, Suite 810 Toronto, Ontario M5C 1C4 (416) 350-3776
News Release July 7, 2015
Murchison Receives Approval for Expansion of Brabant Zinc Project, Saskatchewan
TORONTO, Murchison Minerals Ltd. (CSE – MUR) (“Murchison” or the “Company”) is pleased to announce that its application for additional mineral claims covering a combined area of approximately 940 hectares has been approved by the Mineral Administration Registry of Saskatchewan. The additional claims are located east and adjacent to Murchison’s 3,212 hectare Brabant High Grade Zinc project, which together cover a total area of 4,152 hectares (see Figure 1). The additional claims were staked to cover EM conductor trends identified from the 2011 VTEM survey but located outside the previous boundary of the Brabant property, and therefore are considered prospective for zinc-copper sulphide mineralization.
Next Steps
In addition to the plan outlined in Murchison’s press releases of May 4, 2015 and June 25, 2015, the next steps exploration of the Brabant project area include mineral prospecting and geological mapping of all the conductor trends and mineral occurrences. Orientation geochemistry surveys will be completed over covered conductor trends for indications of base and precious metal mineralization. The planned exploration program and budget are subject to outcomes and financing.
Brabant Project Highlights
The Brabant Project hosts one of the highest grades undeveloped zinc deposits in Canada. Current (2008) mineral resources at the Brabant Mackenzie deposit are 1.475 Mt grading 9.18% zinc, 0.79% copper, 0.23% lead, 32.6 g/t silver and 0.15 g/t gold in Indicated Resources and 2.975 Mt grading 5.55% zinc, 0.55% copper, 0.13% lead, 13.9 g/t silver, 0.10 g/t gold in Inferred Resources. A NI 43-101 Technical Report prepared by MPH Consulting Limited and P&E Consultants Inc., dated September 12, 2008 is available. *Cut-off grades are listed below. A combination of airborne and down-hole EM survey results suggest that the deposit, which extends over nearly 1,000 metres, remains open in all directions.
See Murchison’s website for details (www.murchisonminerals.com).
The Brabant project is located close to major infrastructure, including all-season road and grid power, 175 km north of La Ronge, Saskatchewan. The Brabant-McKenzie deposit is covered by a mining lease (ML 5054) and is only 46 km from an idled mineral processing mill. According to the Fraser Institute rankings for 2014, Saskatchewan is one of the best mining jurisdictions globally.
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About Murchison Minerals
Murchison Minerals Ltd. is a Canadian based exploration company with a diversified portfolio of properties, including the Brabant-McKenzie Zinc-Copper deposit in northcentral Saskatchewan, the HPM Nickel/Copper/Cobalt project in Québec and the Cloridorme high alumina shale formation, which is contiguous and essentially an extension of the Marin deposit of Orbite Aluminae located on the Gaspe peninsula in eastern Quebec. Murchison also holds gold claims in the Pickle Lake area of northwestern Ontario and approximately 1,200 km2 of licenses for nickel and gold exploration in central Uganda.
Additional information about Murchison Minerals and its exploration projects can be found at www.murchisonminerals.com.
- The metal prices used in the 2008 NI43-101 report: The resource for the Brabant
Mackenzie Zinc deposit was estimated on the basis of approximate $US three-year trailing average metal prices of $1.27/lb zinc, $3.02/lb copper, $0.86/lb lead, $12.49/oz silver and $663/oz/gold, and a $US exchange rate of $0.912. An NSR cut-off of $75/t for underground mining and milling was utilized to report the resource. The resource estimate based on 66 diamond drill holes and 2195 assays.
Qualified Person
William E. Stone, P.Geo., Independent Consultant and a Qualified Person as defined by Canadian National Instrument 43-101, has reviewed and approved the technical information contained in this news release.
For further information contact:
JC Potvin, President and Chief Executive Officer (416) 350-3997 [email protected] [email protected]
Disclaimer
The CSE has not reviewed this news release and does not accept responsibility for the adequacy or accuracy of this news release. The CSE has neither approved nor disapproved the contents of this news release.
All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding potential mineralization and reserves, exploration results, and future plans and objectives of the Company, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are exploration risks detailed herein and from time to time in the filings made by the Company with securities regulators.
Murchison Minerals News Release July 7, 2015 2 Figure 1. Map view showing the distribution of VTEM Conductor Trends, Conductor Plate Models and mineral occurrences on Murchison Minerals newly expanded property surrounding the Brabant High Grade Zinc project. The area covered by the newly expanded Brabant project property totals 4,152 hectares.
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