Mag Copper Reports Delineation of Mineralized Blocks at the Magusi Deposit

TORONTO, July 16, 2012 /CNW/ - Mag Copper Limited (the "Company" or "Mag") (CNSX:QUE) is pleased to report the results for the winter diamond drilling program at its 100% owned Magusi River copper-zinc-silver and gold deposits (the ''Magusi Deposit'' or the "Property") located in Hébécourt Township, 30 km north west of Rouyn-Noranda, Quebec. A total of 4,591 metres of drilling was completed in 13 holes for this program. Highlights include:

  • MD-12-02 with 1.08% Cu, 1.23% Zn, 0.34 g/t Au and 25.63 g/t Ag over 24.13 m true width including a high grade interval of 0.67% Cu, 6.33% Zn, 0.58 g/t Au and 23.68 g/t Ag over 3.16 m true width;
  • MD-12-03 with 1.03% Cu, 1.88% Zn, 0.23 g/t Au and 18.43 g/t Ag over 5.56 m true width; and
  • MI-12-07 with 1.08% Cu, 3.95% Zn, 0.32 g/t Au and 20.14 g/t Ag over 5.5 m true width. 

The focus of this drilling campaign was three-fold; to expand current reserves by testing targets located east, west and at depth from the Magusi Deposit; to establish the continuity of mineralization between the two zones comprising the Magusi Deposit (referred to as the Main and East Zones); and to test other targets on the Property that exhibit geological and geophysical characteristics similar to the Magusi and neighboring Fabie Bay Deposits. Significant drilling results are reported in Table 1, and detail for the drill hole collars is provided in Table 2.

Table 1: Winter 2012 Magusi River Project Drill Results

Hole From
(m) *
To
(m)*
Target Cu
(%)
Zn
(%)
Au
(g/t)
Ag
(g/t)
True
 Width (m) 
MD-12-01 884.42 885.8 Main Zone deep step out 0.10 0.04 0.08 0.62 1.23
MD-12-02
 Including 
184
 184.00 
213
 187.80 
gap b/n Main-East Zones  1.08
  0.67  
1.23
  6.33  
0.34
  0.58  
25.63
 23.68 
24.13
3.16
MD-12-03
Including
179.70
183.90
187.30
187.30
gap b/n Main-East Zones 1.03
1.35
1.88
3.55
0.23
0.42
18.43
22.85
5.61
3.28
MD-12-04
including
165.9
174.15
175.85
175.85
gap b/n Main-East Zones 0.92
2.26
0.22
0.4
0.14
0.34
14.95
41.88
7.35
1.26
MD-12-05 173.70 177.7 gap b/n Main-East Zones 1.15 1.01 0.24 11.38 2.74
MI-12-06
Including
125.00
126.00
129.10
128.10
East Zone 0.23
0.19
1.56
2.58
0.15
0.14
11.05
12.05
3.25
1.66
MI-12-07 113.10 120.10 East Zone 1.08 3.95 0.32 20.14 6.26
MI-12-08 77.05 78.35 East Zone 0.87 1.79 0.02 21.0 1.18
MI-12-09 69.78 77.00 East Zone 100m step out 0.01 0.02 0.1 0.34 6.41

* measured along the core axis

Table 2: Drill Collar Co-ordinates for Winter 2012 Magusi River Project Drill Program

Hole  Easting* 
(m)
 Northing* 
(m)
Azimuth
 (degrees) 
Dip
 (degrees) 
 MD-12-01  314055 5366088 333 -76
MD-12-02 314347 5366837 310 -47
MD-12-03 314347 5366837 296 -59
MD-12-04 314347 5366837 304 -77
MD-12-05 314347 5366837 303 -86
MI-12-01 313296 5366361 357 -50
MI-12-02 313298 5366361 329 -56
MI-12-03 313259 5366509 310 -48
MI-12-04 315038 5366843 337 -42
MI-12-06 314426 5366849 337 -75.9
MI-12-07 314421 5366850 335 -62
MI-12-08 314461 5366509 342 -63
MI-12-09 314576 5366888 333 -65

* co-ordinates in MTM, NAD83

Holes MI-12-01 to MI-12-03 were collared approximately 1 km southwest of the Main Zone. These holes tested targets outside the orebody that had geological and geophysical characteristics similar to the Magusi and neighboring Fabie Bay Deposits. These holes intersected numerous narrow intervals (1 m or less in width) with anomalous gold values ranging from 0.09 to 0.24 g/t. Hole MI-12-04 was stopped before reaching its target depth due to bad field conditions, and Hole MI-12-05 was not drilled for the same reason.

Sampling Quality Control and Assurance

NQ sized core was utilized during diamond drilling to obtain a larger and more representative sample volume. The core was logged and split at a Services Technominex secure field installation. Split core samples were sent to Accurassay Laboratories in Thunder Bay, Ontario for assaying using fire assay with AAS finish, and ICP finish after aqua regia digest.

A quality assurance and quality control program (QA/QC) was implemented by Services Technominex and the laboratory to insure the precision and reproducibility of the analytical results.  The QA/QC program included the insertion of standards and blanks as well as systematic re-assaying by the laboratory every 10 samples. The core logging, QA/QC program, sample splitting and data review were conducted under the supervision of Denis McNichols, B.Sc., P.Geo. (OGQ), project geologist at Services Technominex Inc. and a qualified person as defined by National Instrument 43-101.

Discussion of Results

The East Zone is located along strike and 100 m east of the Main Zone. Management of Mag is of the opinion that the East Zone is an extension of the Main Zone. However due to the lack of historical drilling between these zones, the current Magusi Deposit NI 43-101 compliant mineral resource is confined to the Main Zone alone. As described in the NI 43-101 Compliant Mineral Resource Estimate for the Magusi Deposit prepared by Roscoe Postle Associates Inc. dated March 21, 2012, establishing the continuity of mineralization between the Main and East zones has "good potential to increase the currently known massive sulphide mineralization" and the NI 43-101 compliant Mineral Resource.

Management of Mag is extremely pleased with these latest drill results as they have extended the known limit of the Main Zone mineralized envelop to the east. Furthermore, the high grade mineralization obtained in holes MD-12-02 and MD-12-03 is open to surface in the gap between the Main and East Zones, confirming the potential to substantially increase the inferred resource of the Magusi Deposit.

The Next Phase

The next phase of exploration work will be to undertake an aggressive exploration program at the Magusi Deposit including geophysical and geochemical surveys over the entire property area, and a review and re-interpretation of all exploration work to date. New drill targets will be developed focusing on increasing the indicated and inferred resources at the Magusi Deposit, and to test new targets identified on remaining areas of the Property. Previously reported indicated and inferred Magusi Deposit resources are provided in Table 3.

Table 3: Previously Reported NI 43-1010 Indicated and Inferred Resources at the Magusi Deposit

Ore type Tonnes   Cu (%)     Zn (%)    Au (g/t)   Ag (g/t) 
High grade Cu 723,000 3.27 0.51 0.38 43.1
High grade Zn 684,000 0.38 8.33 2.12 40
High grade mixed ore  13,000 1.96 5.65 2.08 58.3
Low grade mixed ore 14,000 0.61 3.28 2.63 46
Total indicated :  1,433,000  1.85 4.31 1.25 41.8
           
Ore type Tonnes Cu (%) Zn (%) Au (g/t) Ag (g/t)
High Grade Cu 350,000 3.41 0.39 0.26 24.2
Total inferred : 350,000 3.41 0.39 0.26 24.2

Note: The formula used by Rosco Postle Associates Inc. (''RPA'') in the National Instrument 43-101 Technical Report was used for the calculation of the approximate NSR to determinate the economic intervals. Indicated and inferred resources at Magusi are taken from the RPA 43-101 Technical Report dated from March 21, 2012.

Denis McNichols, B.Sc., P.Geo. (OGQ), a Qualified Person under NI 43-101 has verified and is responsible for the technical content of this press release.

Mag is a junior mining exploration and development company engaged in the acquisition, exploration and development of mineral prospects in Canada. Mag's activities are currently focused in the Abitibi Green Stone belt region near Rouyn-Noranda, Quebec and the copper-gold bearing units of the Hough Lake metasedimentary group west of the Sudbury basin.

This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ  materially from those currently anticipated in such statements.

SOURCE Mag Copper Limited

For further information:

Mani Verma, Chief Executive Officer
(416) 479-9795
Web Site: www.magcopper.com

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Mag Copper Limited

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