MURGOR RELEASES FIRST RESULTS FROM ITS PHASE 1 DRILLING AT THE GOLDEN ARROW GOLD MINE, TIMMINS, ONTARIO

KINGSTON, ON, April 7 /CNW/ - Murgor Resources Inc. (MGR: TSX-V) announced today that it has received the results from the first three drill holes of its Phase #1 drilling at the Golden Arrow Gold project, located 65 kilometres east of Timmins, Ontario. The holes were designed to test the gold mineralization 25 to 100 meters below the open pit floor and 50 to 125 meters below surface. Drill hole A11-09 was drilled on Section 125 South and intersected the central part of the gold zone approximately 50 meters below the open pit floor.  Holes A11-10, A11-11 and A11-12 were drilled on Section 175 South and intersected the central part of the gold zone from 25 to 75 meters below the open pit floor.

Best results from holes A11-09 to A11-12 are shown below:

SECTION HOLE-ID FROM (m) TO (m) CORE LENGTH (m)* GRADE Au (g/t)
125S A10-09 91.00 131.00 40.00 2.56
  Incl. 91.00 114.00 23.00 3.26
175S A10-10 65.00 111.00 46.00 1.89
  Incl. 65.00 68.00 3.00 4.11
  Incl. 82.00 111.00 29.00 2.04
  incl. 95.00 110.00 15.00 3.00
175S A10-11 62.00 70.00 8.00 3.79
  and 107.00 129.00 22.00 3.12
175S A10-12 137.00 152.00 15.00 4.17

* True widths = 60-75% of reported core lengths.

"We're very encouraged by these results. The gold zones are continuous and consistently mineralized. Our intercepts continue to be on average three times wider and at slightly better grades than those reported by Pamour in the early eighties." said André Tessier, President and CEO of Murgor Resources. "Drilling continues and we're expecting more results very shortly."

So far, Murgor's drilling from 2010 and 2011 has tested a 150 meter strike length of the gold zone and a vertical extent of nearly 100 meters below the existing floor of the Golden Arrow open pit (150 meters below surface). Drilling in this phase of work will continue to expand the mineralized zone towards the southwest and at depth.  Another four drill holes from Phase #1 have been completed and assays are pending.  An additional 3,500 meters of drilling are still planned to complete this first phase of drilling. Please see the sections attached to this press release at www.murgor.com.

The drill hole results published in this release are the first results from Murgor's first phase of drilling in 2011, at its newly acquired Golden Arrow Mine, east of Timmins in Ontario. Murgor's complete drilling results from 2010 were announced in news releases dated February 10, 2011. On February 4th, 2011, Murgor signed a definitive agreement with Victoria Gold Mines (East Timmins) Ltd to acquire an interest of up to 70% in the Golden Arrow Gold Mine property.

Gold analyses reported in this release were performed by standard fire assay using a one assay ton aliquot with a gravimetric finish.  All assays were performed by Activation Laboratories Ltd, in Timmins, Ontario. Sampling and analytical procedures are subject to Murgor's comprehensive Quality Assurance and Quality Control program.  The QA-QC program, includes duplicate samples, blanks and analytical standards.

About the Golden Arrow Gold Mine:

The Golden Arrow property consists of 17 mining patents and leases, and four mining claims covering 723 hectares in Hislop Township and located 65 kilometers east of the Town of Timmins in Ontario.  In 1981 and 1982, a total of 279,593 tons of ore was mined at a grade of 0.061 oz/t (2.09 g/t) from the Arrow open pit.  Mining ceased due to low gold prices.

The property was originally explored underground in the 1940s to by the Golden Arrow Mining Company Ltd. who sank a shaft to a depth of 435ft (130m) below surface and undertook about 700m of horizontal development on the 250ft (76m) and 400ft (122m) levels.

The Golden Arrow property is underlain by mafic flows and syenite intrusions with younger post mineral diabase dikes. Gold is associated with pyrite-quartz veining and hematitic/potassic alteration associated with a quartz vein stockwork within a syenite intrusion and related to a NE-SW structure associated with the Porcupine-Destor Fault Zone. The property covers a two kilometre strike extent of this NE-SW structure. The Golden Arrow gold deposit is located 9 km SW of the past-producing Ross Gold Mine which produced nearly one million ounces of gold between 1936 and 1989.  Also located in Hislop Twp are the presently producing Hislop Mine of St. Andrew Goldfields Ltd. and the Black Fox Mine of Brigus Gold Corp.  Please visit www.murgor.com for additional information about the Golden Arrow Gold Mine.

About Murgor Resources

Murgor Resources Inc. is a mineral exploration and development company focused on near-term production at the Golden Arrow Gold Mine in Ontario.  Murgor also owns a 100% interest in two gold-copper deposits in the Snow Lake and Flin Flon mining districts of Manitoba.  The company further owns an exceptional portfolio of gold properties in proven mining districts of Canada, as well as a 1% NSR royalty in the Barry Gold Mine and the Windfall Gold Project in Québec.

The table below shows the total 43-101 compliant resource for Murgor's Hudvam and Wim deposits.


INDICATED RESOURCE
Project Tonnage Grade* Metal Content
Metric Tonnes Cu % Zn% Au g/t Ag g/t Cu (lb) Zn (lb) Au (oz) Ag (oz)

Hudvam

854,076

1.22

1.78

3.82

13.84

23,007,640

33,541,359

104,930

379,928

Wim

2,776,787

1.94

0.3

1.88

7.53

118,762,524

18,365,339

167,838

672,246

TOTAL

3,630,863

 

 

 

 

141,770,164

51,906,698

272,768

1,052,174

 

 

 

 

 

 

 

 

 

 

 

INFERRED RESOURCE
Project Tonnage Grade* Metal Content
Metric Tonnes Cu % Zn% Au g/t Ag g/t Cu (lb) Zn (lb) Au (oz) Ag (oz)

Hudvam

502,901

0.79

1.33

3.25

6.96

8,758,802

14,745,831

52,548

112,534

Wim

445,999

1.12

0.43

2.11

5.06

11,012,528

4,228,024

30,256

72,556

TOTAL

948,900

 

 

 

 

19,771,330

18,973,856

82,804

185,090

 * Based on a 2.0% copper equivalent cut-off grade
For statement of resources, see Murgor Press Releases: Aug. 28, 2008 for Hudvam and Sept. 09, 2008 for Wim.

The technical information in this news release has been reviewed by Mr. John Reddick, P.Geo, a qualified person in accordance with Canadian regulatory requirements as set out in National Instrument 43-101, and responsible for the supervision of the project.

This news release includes certain "forward-looking statements". All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding potential mineralization, resources and reserves, exploration results, and future plans and objectives of Murgor, 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 Murgor's expectations are exploration risks detailed herein and from time to time in the filings made by Murgor with securities regulators.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

 

For further information:

FOR FURTHER INFORMATION PLEASE VISIT MURGOR'S WEBSITE AT WWW.MURGOR.COM OR CONTACT:
André C. Tessier, President & CEO
MURGOR RESOURCES INC.
Tel: (613) 546-7503 or 1-888-891-3330
Fax:  (613) 546-7318
E-mail: info@murgor.com      Web site: www.murgor.com

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Murgor Resources Inc.

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