TORONTO, March 4 /CNW/ - Duluth Metals Limited ("Duluth Metals")
(TSX: DM) (TSX:DM.U) today announced it had intersected higher grade
mineralization in four holes in the Eastern Area of the Maturi Extension
Properties in Minnesota. Holes MEX-77, 78, 80 and 82 confirm the presence of
higher grade mineralization in parts of the Eastern Area, relative to that in
the initial NI 43-101 qualified Nokomis Resource. (See press release dated
June 26, 2007.) In comparing only these four holes, MEX-77, 78, 80 and 82 in
our Eastern Area (using a 0.5% copper cut-off) returned an average 40%
increase in the copper grade, a 26% increase in the nickel grade, a 154%
increase in the gold grade, a 222% increase in the platinum grade, a 220%
increase in the palladium grade and a 211% increase in the TPM grades relative
to the average grade of the Indicated Resource portion of the overall Nokomis
Resource.
Of particular note is Hole MEX-78 which returned 123.1 feet of 0.905%
copper and 0.264% nickel with 1.426 grams per tonne (g/t) of Total Precious
Metals (TPM = Platinum+Palladium+Gold) and 3.7 g/t silver, including 113.3
feet of 0.941% copper, 0.274% nickel, 1.513 g/t TPM and 3.8 g/t silver, with a
49.2 foot section of 1.167% copper, 0.351 % nickel, 1.781 g/t TPM and 4.2 g/t
silver. Hole MEX-80 intersected 88.6 feet of 0.689% copper, 0.209% nickel,
1.882 g/t TPM and 3.5 g/t silver including 49.2 feet of 0.916% copper, 0.258 %
nickel, 2.361 g/t TPM and 4.8 g/t silver with a 14.9 foot section of 1.262%
copper, 0.380 % nickel, 3.795 g/t TPM and 8.3 g/t silver. Hole MEX-77 was not
completed due to technical problems but was suspended in higher grade
mineralization returning 40 feet of 0.929% copper, 0.269% nickel and 2.379 g/t
TPM including 30 feet of 1.030% copper, 0.294% nickel and 2.690 g/t TPM.
"The drilling results verify a significant increase in platinum,
palladium and gold numbers as well as strong copper and nickel grades in our
Eastern Area," stated Dr. Henry Sandri, President and CEO. "The four Eastern
holes in this press release continue to demonstrate the higher tenor of the
Eastern Area drill results, in comparison to the overall Nokomis grades.
Marked increased grades in all metals have been, in general, a defining event
of the Eastern Area."
Two additional holes, MEX 79 and 83, were also completed immediately
south of and along the boundary of the Nokomis Resource Block in the western
area of the property. Highlights include MEX-83 which intersected 105.5 feet
of 0.632% copper, 0.176% nickel and 0.822 g/t TPM including 65.5 feet of
0.742% copper, 0.192% nickel and 0.950 g/t TPM with a 10.0 foot section of
1.020% copper, 0.222% nickel and 1.174 g/t TPM.
"We are proceeding further with our aggressive 200,000 foot drilling
program to complete-fill and step-out drilling to the existing large Nokomis
Resource Block, and exploration drilling to define new mineralization in the
Eastern Exploration Area," stated Dr. Sandri.
A "MEX 77-83 Location Map" highlighting these holes can be found on our
Company website at www.duluthmetals.com.
True thickness is estimated at about 90% of core length. Drill hole
MEX-77 was not completed with drilling suspended in mineralization due to
technical difficulties(*). The following table with (0.3% copper and 0.5% copper
cut-offs) contains a more detailed summary of the drill intercepts:HOLE ZONE FROM TO LENGTH COPPER NICKEL TPM(*)
(feet) (feet) (feet) (%) (%) (g/t)
MEX-77 at 0.5% Cu cut-off 3318 3358 40 0.929 0.269 2.379
including 3328 3358 30 1.030 0.294 2.690
(*) Hole not
Completed -
Suspended in
Mineralization
MEX-78 at 0.3% Cu cut-off 3700.8 3823.9 123.1 0.905 0.264 1.426
at 0.5% Cu cut-off 3710.6 3823.9 113.3 0.941 0.274 1.513
including 3720.5 3769.7 49.2 1.167 0.351 1.781
at 0.5% Cu cut-off 3809 3823.9 14.9 1.152 0.307 1.877
MEX-79 at 0.3% Cu cut-off 2806 2888 82 0.563 0.202 0.701
at 0.5% Cu cut-off 2818 2863 45 0.658 0.229 0.852
MEX-80 at 0.3% Cu cut-off 4005.8 4094.4 88.6 0.689 0.209 1.882
at 0.5% Cu cut-off 4045.2 4094.4 49.2 0.916 0.258 2.361
including 4055 4069.9 14.9 1.262 0.380 3.795
MEX-82 at 0.3% Cu cut-off 3169.4 3223.6 54.2 0.658 0.199 0.838
at 0.5% Cu cut-off 3169.4 3213.8 44.4 0.735 0.225 0.938
including 3194.1 3208.8 14.7 0.995 0.282 1.238
at 0.3% Cu cut-off 3326.9 3390.9 64 0.346 0.101 0.313
MEX-83 at 0.3% Cu cut-off 2882.5 2988 105.5 0.632 0.176 0.822
at 0.5% Cu cut-off 2882.5 2948 65.5 0.742 0.192 0.950
including 2903 2913 10 1.020 0.222 1.174
and 2933 2938 5 1.070 0.185 1.077
(*) Total Precious Metals = Platinum+Palladium+Gold
Complete gold, platinum, and palladium assays for MEX-77, 78, 79, 80, 82
and 83 are as follows:
PALLA-
HOLE ZONE FROM TO LENGTH GOLD PLATINUM DIUM
(feet) (feet) (feet) (g/t) (g/t) (g/t)
MEX-77 at 0.5% Cu cut-off 3318 3358 40 0.211 0.792 1.375
including 3328 3358 30 0.229 0.898 1.563
(*) Hole not
Completed -
Suspended in
Mineralization
MEX-78 at 0.3% Cu cut-off 3700.8 3823.9 123.1 0.170 0.359 0.897
at 0.5% Cu cut-off 3710.6 3823.9 113.3 0.180 0.381 0.952
including 3720.5 3769.7 49.2 0.155 0.478 1.148
at 0.5% Cu cut-off 3809 3823.9 14.9 0.391 0.438 1.048
MEX-79 at 0.3% Cu cut-off 2806 2888 82 0.104 0.179 0.418
at 0.5% Cu cut-off 2818 2863 45 0.133 0.217 0.502
MEX-80 at 0.3% Cu cut-off 4005.8 4094.4 88.6 0.292 0.462 1.127
at 0.5% Cu cut-off 4045.2 4094.4 49.2 0.281 0.622 1.458
including 4055 4069.9 14.9 0.442 0.975 2.378
MEX-82 at 0.3% Cu cut-off 3169.4 3223.6 54.2 0.099 0.236 0.503
at 0.5% Cu cut-off 3169.4 3213.8 44.4 0.106 0.267 0.565
including 3194.1 3208.8 14.7 0.141 0.327 0.769
at 0.3% Cu cut-off 3326.9 3390.9 64 0.039 0.080 0.194
MEX-83 at 0.3% Cu cut-off 2882.5 2988 105.5 0.102 0.217 0.503
at 0.5% Cu cut-off 2882.5 2948 65.5 0.114 0.248 0.588
including 2903 2913 10 0.143 0.273 0.759
and 2933 2938 5 0.134 0.176 0.767For the 2008 drill program, half core samples have been prepared at ALS
Chemex Ltd. laboratories in Thunder Bay and then shipped to its analytical
facilities in Vancouver. Samples are being analyzed for Au, Pt, and Pd using a
standard fire assay with an ICP finish and for 27 other elements using a four
acid (near total) digestion and a combination of ICPMS and ICPAES. ICP over
limits were re-analyzed using sodium peroxide fusion, acid dissolution
followed by ICPAES. The remaining half core samples are being stored in
Minnesota.
Currently five drills are turning on the property. Large diameter PQ
drilling is also continuing with the objective of providing large bulk sample
material for further metallurgical test work.
David Oliver, P. Geo. and Duluth Project Manager is the Qualified Person,
in accordance with NI 43-101 of the Canadian Securities Administrators, and is
responsible for the technical content of this press release and quality
assurance of the exploration data and analytical results.
About Duluth Metals
Duluth is committed to acquiring, exploring and developing copper, nickel
and platinum group metal (PGM) deposits. Duluth's principal property is the
Nokomis Deposit located within the rapidly emerging Duluth Complex mining camp
in northeastern Minnesota. The Duluth Complex hosts one of the world's largest
undeveloped repositories of copper, nickel and PGMs, including the world's
third largest accumulation of nickel sulphides, and one of the world's largest
accumulations of polymetallic copper and platinum group metals.
This document may contain forward-looking statements (including
"forward-looking statements" within the meaning of the US Private Securities
Litigation Reform Act of 1995) relating to Duluth's operations or to the
environment in which it operates. Such statements are based on operations,
estimates, forecasts and projections. They are not guarantees of future
performance and involve risks and uncertainties that are difficult to predict
and may be beyond Duluth's control. A number of important factors could cause
actual outcomes and results to differ materially from those expressed in
forward-looking statements, including those set forth in other public filings.
In addition, such statements relate to the date on which they are made.
Consequently, undue reliance should not be placed on such forward-looking
statements. Duluth disclaims any intention or obligation to update or revise
any forward-looking statements, whether as a result of new information, future
events or otherwise, save and except as may be required by applicable
securities laws.
For further information: Mara Strazdins, Director of Corporate
Communications, at mstrazdins@duluthmetals.com or at (416) 369-1500; or Henry
Sandri, President and CEO, at hsandri@duluthmetals.com; Minnesota corporate
office: telephone (651) 389-9990, Web Page: www.duluthmetals.com
