KINGSTON, ON, May 21 /CNW Telbec/ - Murgor Resources Inc. (MGR: TSX-V) today announced the beginning of a field exploration program at its Gullrock gold property near Red Lake, Ontario.
Preliminary work has started at Gullrock to carry-out a 40 line-kilometer Induced Polarization geophysical survey that will be followed by mechanical trenching, geological mapping and geochemical sampling during the summer of 2010. The summer program will be followed-up by diamond drilling in the fall of 2010.
The objective of this preliminary phase of exploration is to investigate a five (5) kilometer strike length of the NW-SE trending "Mine Trend" structural corridor at the Gullrock property. The "Mine Trend" structure is host to the Campbell-Red Lake, Cochenour-Willans and the MacKenzie Gold Mines, some 12 kilometers to the NW, where more than 20 million ounces of gold have been mined to date.
In January of 2010, Murgor completed a high resolution helicopter borne magnetic and EM survey at the Gullrock Gold property and was able to outline the location of the "Mine Trend" structure. The entire strike length of the Mine Trend structure remains untested at Gullrock. Several targets have already been defined at the Gullrock property on the Mine Trend structure where magnetic low anomalies coincide with zones of high chargeability, high resistivity, and gold in soils geochemical anomalies. None of these targets have ever been drill tested.
Murgor will continue to provide updates of the exploration results as they become available.
In other news: The company wishes to announce that Mr. Mackenzie I. Watson has resigned from Murgor's Board of Directors. Mr. Watson has, however been nominated to remain as an advisor to the Company. Mr. Watson has been involved with Murgor Resources for well over 20 years and Murgor is looking forward to his continued involvement with the company.
"On behalf of the Board of Directors, I wish to extend my sincere thanks to Mr. Watson for his many years of services to Murgor as a director and look forward to his continued invaluable advise in the future," said Tessier.
About the Gullrock Gold Property:
The Gullrock Property consists of eight claims located one kilometer east of Goldcorp's Red Lake property and on strike with the Campbell-Red Lake Gold Mine. The property covers 1,409 hectares of what is known as "the Mine Trend" south-east of Red Lake. The "Mine Trend" hosts the Campbell-Red Lake, Cochenour-Willans and the MacKenzie Gold Mines where more than 20 million ounces of gold have been mined to date. Reserves stand at 3.6 million gold ounces at the Campbell-Red Lake Mine (Goldcorp's annual report 2008). Despite the fact that the Gullrock property geology bears similar geology as the Campbell-Red Lake Mine setting, the property has seen very limited exploration work and its exploration potential is deemed excellent. Murgor has already identified untested coincident geophysical and gold in soil geochemical anomalies at the property.
A location map of the Gullrock property is attached to this press release on Murgor's website and can be viewed at www.murgor.com.
André C. Tessier, P.Eng (Qc), P.Geo and President of Murgor Resources, is a Qualified Persons, as defined by NI-43-101 and is responsible for this news release and the technical information it contains.
About Murgor Resources
Murgor Resources Inc. is a mineral exploration and development company focused on copper, zinc and gold deposits. The company is earning a 100% interest in three deposits, adjacent to the Snow Lake and Flin Flon mining districts of Manitoba, from HudBay Minerals Inc. (TSX:HBM). Murgor is also exploring an exceptional portfolio of gold properties in proven mining districts of Canada, owns a 1% NSR royalty in the Barry Gold Mine and an interest in the advanced Windfall Gold Project in Quebec.
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 the proposed financing, payments to HudBay, 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.
SOURCE Murgor Resources Inc.
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, 1-888-891-3330, Fax: (613) 546-7318, E-mail: email@example.com, Web site: www.murgor.com