TORONTO, Aug. 18 /CNW/ - Duluth Metals Limited ("Duluth Metals") (TSX:
DM) (TSX:DM.U) is announcing the assay results from MEX-155-W1 which
intersected mineralization 900 meters southwest of the currently defined
Nokomis Deposit outline. MEX-155-W1 was drilled in an area of four historic
drill holes referred to as Nickel Ridge, where the historic hole DU-13
returned 10 feet of 1.03% copper and 1.57% nickel within a 60 foot zone of
markedly higher than average nickel assays. Assay results from MEX-155-W1 and
the four historic holes confirm a substantial extension of significant
mineralization towards the Nickel Ridge area with good copper values and above
average nickel grades, beyond the current resource boundaries of the Nokomis
Deposit. MEX-155-W1 and the four historic holes will be included in the new NI
43-101 Resource Study currently being undertaken by Scott Wilson RPA.
"This latest step-out drilling continues to confirm Duluth Metals' belief
in the continuity of the Nokomis mineralization. It is gratifying to have the
confidence to drill a hole nearly a kilometre away from the defined Nokomis
Deposit outline and achieve these types of results," stated Dr. Henry J.
Sandri, President and CEO of Duluth Metals. "This new out-step hole supports
our belief that the Nokomis Deposit has the potential to be substantially
increased, with the added possibility of finding areas of higher grade zones
like those identified in the Nickel Ridge Area or discovered in our Eastern
High Grade Corridor last year." To date, only about one-half of the Nokomis
Property has been drilled, and all 155 holes drilled to target depth have
intercepted mineralization at varying intervals and grades (see
www.duluthmetals.com for full results).
A more detailed summary of the assay results for MEX-155-W1 can be found
in the table below. True width is estimated at about 90% of core length.
HOLE ZONE FROM TO LENGTH COPPER NICKEL TPM(*)
(feet)(feet)(feet) (%) (%) (g/t)
MEX-0155-W1 @0.3% Cu cut-off 3313 3358 45 0.624 0.210 0.599
@0.5% Cu cut-off 3313 3343 30 0.705 0.226 0.708
Complete gold, platinum and palladium assays for MEX-151-W1 are as
HOLE ZONE FROM TO LENGTH GOLD PLATINUM PALLADIUM
(feet)(feet)(feet) (g/t) (g/t) (g/t)
MEX-0155-W1 @0.3% Cu cut-off 3313 3358 45 0.069 0.157 0.373
@0.5% Cu cut-off 3313 3343 30 0.079 0.182 0.448
Highlights from the four historic holes are shown in the table below.
True width is estimated at about 90% of core length.
HOLE ZONE FROM TO LENGTH COPPER NICKEL
(feet) (feet) (feet) (%) (%)
DU-02 @0.5% Cu cut-off 2461.6 2515 53.4 0.819 0.300
@0.3% Cu cut-off 2530 2570 40 0.452 0.209
DU-13 @0.5% Cu cut-off 3500 3510 10 0.500 0.200
@0.5% Cu cut-off 3540 3600 60 0.575 0.463
including 3540 3550 10 1.030 1.570
K-02 @0.5% Cu cut-off 1982 2104 122 0.831 0.267
@0.5% Cu cut-off 2113 2131 18 0.551 0.203
K-08 @0.5% Cu cut-off 3276.5 3321 58 0.645 0.276
and 3340 3342 2 0.200 1.300
A map showing the location of MEX-155-W1 and the four historic holes in
relation to the currently defined NI 43-101 Nokomis Deposit can be viewed on
our website at www.duluthmetals.com along with this press release.
The Company also confirms that the new NI 43-101 Resource Study by Scott
Wilson RPA has commenced, incorporating an additional 48 vertical drill holes
and 67 wedge holes, including MEX 155-W1 and the historic Nickel Ridge drill
David Oliver, P. Geo. and Duluth Project Manager is the Qualified Person,
in accordance with NI 43-101 issued by 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
For further information:
For further information: Mara Strazdins, Director of Corporate
Communications, at email@example.com or at (416) 369-1500; or Henry
Sandri, President and CEO, at firstname.lastname@example.org; Minnesota corporate
office: Telephone (651)-389-9990, Web Page: www.duluthmetals.com