TORONTO, June 7, 2018 /CNW/ - Murchison Minerals Ltd. ("Murchison" or the "Company") (TSXV : MUR) is pleased to announce that it has acquired more ground near its Brabant-McKenzie property (the "Property") by staking and is planning additional ground geophysics at the Property.
The Company continues to expand its regional review of mineralized showings on the Property and surrounding area. The Company has recently staked an additional 1,301 hectares of ground adjacent to and southeast of the current Property in order to cover prospective geology and reported mineralized showings hosting anomalous copper and zinc values
New Claims The Company staked claims numbered MC00011056 adjacent to the Property which covers previous work outlined in Saskatchewan Mineral Deposit Index ("SMDI") 0429 assessment report ("SMDI 0429"). As noted in the assessment report the area, "hosts a sulphide zone that was traced for a length of 2,000 ft (609.6 m) over widths of up to 20 ft (6.1 m). Several trenches along the zone expose rusty weathered quartz-feldspar-actinolite gneiss containing abundant pyrrhotite and graphite and a small amount of chalcopyrite. The sulphide mineral content ranges from about 60% to over 90%. Within this zone a showing consisting of a sulphide lens hosting pyrite, pyrrhotite and minor sphalerite and covering an area of 2 ft by 30 ft (0.6 x 9.1 m) is noted. One sample of massive pyrrhotite from the showing gave 0.36% Cu."
Other showings noted in SMDI 0429 and located within MC00011056 include:
"A 2,400 x 500 ft (731.5 x 152.4 m) northeast-trending fine-grained pyrrhotite zone containing low (anomalous) copper and zinc values was identified on the east shore of Brabant Lake
A sulphide lens hosting pyrite, pyrrhotite and minor sphalerite and covering an area of 2 ft by 30 ft (0.6 x 9.1 m). One sample of massive pyrrhotite from the showing gave 0.36% Cu.
Several boulders 2 to 4 ft (0.6 to 1.2 m) in diameter at the south end of the zone, consisting of essentially of massive pyrrhotite with abundant graphite and scattered irregular grains of chalcopyrite.
[Trench no. 4] is approximately 1,400 ft (426.7 m) to the east of the Brabant Lake shore [ which] exposed a 20 ft. (6.1 m) width of nearly massive sulphides pyrrhotite-pyrite + minor chalcopyrite and wurtzite (associated with pyrite and sphalerite) and graphite. Wurtzite and hydrozincate were noted in association with pyrite but not with pyrrhotite. Several assays gave 0.25% Cu. Mineralized float from the showing area assayed 0.24% Cu."
The Company also staked claims numbered MC00011057 approximately 2.0 kilometres southeast of the Property based on showings noted in SMDI 0436 assessment report. It notes the identification of "showings that host chalcopyrite associated with pyrrhotite in schistose rocks. Chalcopyrite makes up a much higher proportion of the sulphides than in other type of sulphide zones." The Company does not know of any follow up work that has been conducted on this showing since the initial discovery in 1969.
All mineralized values noted are historical only and have not been verified by Murchison.
Murchison is planning a regional summer prospecting, sampling and mapping program over the showings on the newly staked ground, to further defined their potential as exploration targets as the Company works to demonstrate the VMS potential of the area. The Company will also be conducting additional prospecting, sampling and mapping over the TOM2, T2T, Priority 3 geophysical anomalies in order to further define these anomalies as drill targets.
Priority 3 Geophysics Anomaly Update The Company has submitted permits for a ground electromagnetic and magnetometer geophysical survey on the Priority 3 VTEM airborne anomaly. Additionally, it has submitted bid tender requests to a number of geophysical contractors. The Company expects to initiate this survey in early to mid-July 2018.
Qualifying Statement The foregoing scientific and technical disclosures have been reviewed and approved by Kent Pearson, P. Geo., and Finley Bakker, P. Geo., who are qualified persons as defined by National Instrument 43-101. Mr. Bakker is an independent consultant to Murchison and the Brabant-McKenzie project. Mr. Pearson is President and Chief Executive Officer of the Company.
About the Brabant-McKenzie Project The Brabant-McKenzie project is located 175 km Northeast of La Ronge, Saskatchewan and approximately 3 km from the community of Brabant Lake. The area is accessed year-round via Highway 102 and is serviced by grid power. The project consists of one mining lease which hosts the Brabant-McKenzie Deposit and an additional 15 mineral claims totaling 7,031 hectares which cover approximately 18 kilometers of strike length over favourable geological horizons, multiple known mineralized showings and identified geophysical conductors.
The Brabant-McKenzie Deposit hosts an indicated resource of resource 1.5 million tonnes grading 7.46% Zn, 0.70% Cu, 0.39% Pb, 31.16 g/t Ag, [10.09% Zn Eq] and an inferred resource of 4.5 million tonnes grading 5.99% Zn, 0.62% Cu, 0.39% Pb, 19.39 g/t Ag, [7.99% Zn Eq] as disclosed in the report dated November 25, 2017 and filed on SEDAR on March 13, 2018.
About Murchison Minerals Ltd. Murchison is a Canadian based exploration company focused on the exploration and development of the 100% owned Brabant-McKenzie zinc-copper-silver project in North-Central Saskatchewan. The Company also has the HPM nickel-copper-cobalt project in Quebec and gold project in the Pickle Lake area of northwestern Ontario.
Additional information about Murchison and its exploration projects can be found on the Company's website at www.murchisonminerals.com.
Forward-Looking Information Certain information set forth in this news release may contain forward-looking information that involves substantial known and unknown risks and uncertainties. This forward-looking information is subject to numerous risks and uncertainties, certain of which are beyond the control of the Company, including, but not limited to, the impact of general economic conditions, industry conditions, and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking information. The parties undertake no obligation to update forward-looking information except as otherwise may be required by applicable securities law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Murchison Minerals Ltd.
For further information: Kent Pearson, President and Chief Executive Officer or Erik H. Martin, Chief Financial Officer, [email protected], (416) 350-3776