MONTREAL, Jan. 17 /CNW Telbec/ - Murgor Resources Inc. (MGR: TSX-V) is
pleased to announce that drilling has resumed at the Wim property in northern
Manitoba, where two drill rigs were mobilized earlier this month and started
drilling last week. At Hudvam, two drill rigs were mobilized on the property
on January 13th and drilling will start later this week. A third drill rig
will arrive at Hudvam in the last week of January. This third drill will be
working at the Hudvam for approximately one month and will then be mobilized
on the Snow-H, Flin-D, Fon and Tyr properties to test VTEM and InfiniTEM
anomalies. A total of 16,000 metres of drilling are planned at Wim,
8,000 metres are planned at Hudvam and approximately 5,000 metres are planned
on the other properties.
The drilling programs at Wim and Hudvam are aimed at:
- Completing the definition drilling at the Wim copper-gold deposit and
at the Hudvam copper-gold-zinc deposit.
- Testing extensions of the known mineralization, and
- Testing new, high potential exploration targets near the known deposits
and at the property-scale.
At the Wim deposit, drill holes of the fall program were surveyed with
down-hole Pulse EM in December of 2007. Several off-hole conductors were
detected which suggest the presence of satellite lenses surrounding the known
copper-gold sulphide lens. Three new targets have been defined to the SE of
the deposit and down plunge from the current position of the ore lens. These
targets will be drill tested in the course of this winter drilling. A
longitudinal section is attached to this press release at www.murgor.com.
Andre C. Tessier, President and CEO of Murgor Resources says: "An exciting
new drilling season is starting for Murgor and we are looking forward to
seeing lots of massive sulphide mineralization coming out of the ground at
Hudvam and Wim. With only a few drill holes from our first drill program at
Wim, Murgor may have added 10% to 20% to the existing resource. We are hoping
the trend will continue. We are also looking forward to testing some of these
new targets we worked so hard to define in 2007. Two pre-feasibility studies
underway at Hudvam and Wim, and five drills working full time for the next few
months, should make for a very interesting year 2008 at Murgor."
At Wim, full drilling results from Murgor's fall program, should be
available for distribution shortly. Initial drill results from the first three
drill holes have already been released and are shown below. Drill holes #2 and
#3 extended the ore lens by a strike length of 150 metres whereas drill hole
#1 was an infill hole.
WZS07-001 - 2.83% Cu, 3.35 g/t Au, 12.49 g/t Ag and 0.25% Zn over
WSZ07-002 - 2.23% Cu, 1.13 g/t Au, 8.62 g/t Ag and 0.82% Zn over
WSZ07-003 - 2.33% Cu, 2.69 g/t Au, 12.01 g/t Ag and 0.28% Zn over
In other news: Pursuant to contractual employment agreements with officers
and employees of the company, Murgor has granted 45,000 options on January
7th, 2008. These options will be valid for a period of 5 years and may be
exercised at a price of $0.60.
Chemical analyses reported in this press release were performed by TSL
Laboratories in Saskatoon. Base metals were analyzed through atomic absorption
spectrometry after a multi acid digestion whereas gold was analyzed by fire
assay Atomic Absorption using a 30g charge, with gravimetric finish for assays
greater than 3 g/t. Sampling and analytical procedures are subject to a
comprehensive Quality Assurance and Quality Control program that includes
duplicate samples, blanks and analytical standards.
Neil W. Richardson P.Geo. and Jean-Philippe Desrochers, P.Geo.
respectively Manager of Central Canada Exploration and Vice-President
Exploration for Murgor Resources Inc. are Qualified Person as defined by
NI-43-101 and are responsible for the technical information presented in this
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
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this press release.
For further information:
For further information: André C. Tessier, President & CEO, Murgor
Resources Inc., (613) 546-7503, 1-888-891-3330, Fax: (613) 546-7318,