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Murgor Outlines Gold In Soil Anomalies On Strike With The Campbell-red Lake Mine At Its Gullrock Property, Ontario

  • Four stand-out gold in soils anomalies are defined coinciding with IP anomalies.
  • Quartz veins of the Fox Farm occurrence returning up to 10.1% Zn and 1.72% Pb.

KINGSTON, ON, Aug. 18, 2014 /CNW/ - Murgor Resources Inc. (TSX-V: MGR) ("Murgor") released today the preliminary results from a soil geochemistry exploration program carried-out at its 100% owned Gullrock property in Red Lake, Ontario.  The soil geochemistry survey consisted of 535 samples of B-horizon soils located immediately east of Gullrock Lake, approximately 10 kilometres on strike with the Campbell-Red Lake Mine and within a SE-trending structure known as "the Mine Trend".  The soil geochemistry survey covered the same area covered previously by an Induced Polarization geophysical survey and at least four geochemical anomalies coincide with geophysical anomalies.

"We're very pleased with these results at Gullrock," said Andre Tessier, President and CEO of Murgor Resources.  "It's always exciting when you can outline robust soil geochemical anomalies with geophysical anomalies.  The fact that these anomalies are on strike with the Campbell-Red Lake deposit makes them that much more exciting."   

Highlights from the four gold-in-soil anomalies are as follows:

1) Anomaly A

  • 500m of strike length and up to 100m in width (open to the west).
  • Gold values from 2 to 35 times background.
  • Coinciding anomalies in Ag, Te, Sn, As and Cu.
  • Coinciding with a suspected weak Induced Polarization (IP) anomaly.

2) Anomaly B

  • 500m of strike length and up to 150m in width.
  • Gold values from 2 to 40 times background.
  • Coinciding anomalies in As, Pb and Cu.
  • Coinciding with a weak chargeability and strong resistivity IP anomaly.

3) Anomaly C

  • Complex shape anomaly 300m x 250m in size.
  • Gold values from 2 to 28 times background.
  • Coinciding anomalies in Ag, As, Sb and Pb.
  • Coinciding with a complex array of 3 IP anomalies with chargeability ranging from weak to strong and resistivity ranging from weakly conductive to resistive..

4) Anomalies D (east and west)

  • Each 100m of strike length and up to 50m in width.
  • Gold values from 7 to 32 times background.
  • Coinciding anomalies in Te, As, and locally Ag, Pb and Sb.
  • Coinciding with a strong chargeability and conductive IP anomaly.

 

In addition to the soil geochemistry survey, Murgor also carried out limited lithogeochemical sampling surrounding the Fox Farm occurrence, located immediately south of the soil survey area.  The Fox Farm occurrence consists of quartz-carbonate veins laminated to brecciated, up to 20cm in width.  Strike lengths are unknown.  Highlights from this sampling include:

1) Grab samples returning assays of:
(grab samples are selective by the nature and are not necessarily representative of the mineralization in the zone)

  • 10.1% Zn and 1.72% Pb
  • 4.31% Zn and 2.80% Pb
  • 1.21% Zn and 1640ppm Pb
  • 1.82% Pb and 1430ppm Zn
  • 1.32% Pb and 4560ppm Zn.

Future work is planned at Gullrock contingent on financing availability.

Please visit www.murgor.com for new figures and maps of the soil and IP surveys at the Gullrock property under the "Project" tab.  The figures will also be attached to this press release at www.murgor.com under the "Press Releases" tab.

About the Gullrock Property

Gullrock Property consist of twelve mining claims covering 1,905 hectares adjoining Goldcorp's Red Lake property to the east, ten kilometres on strike with the Campbell-Red Lake Gold Mine.  The Gullrock Property covers a strike extent of over seven kilometres of what is known as the "Mine Trend", a structural lineament that hosts the Campbell-Red Lake, Cochenour-Willans and MacKenzie Gold Mines where more than 20 million ounces of gold have been mined to date.  The Gullrock Property also covers the same stratigraphic units as the Campbell-Red Lake Mine, including mafic and ultramafic volcanic rocks of the prolific Balmer Assemblage, immediately north of the unconformity with the younger rocks of the Confederation Assemblage.  The Balmer Assemblage hosts all the major producers of the Red Lake Belt.  Despite the geological setting of the Gullrock Property which is very similar to the Campbell-Red Lake Mine setting, the Gullrock Property has seen very limited exploration work and its exploration potential is deemed excellent. 

About Murgor Resources

Murgor Resources Inc. is a mineral exploration and development Company focused on gold and copper exploration in Canada.  The company owns a 100% interest in two gold-copper deposits in the Snow Lake and Flin Flon mining districts of Manitoba and a 40% interest in the Golden Arrow Gold Mine in Ontario.  The Company further owns an exceptional portfolio of high potential gold properties in proven mining districts of Canada, such as its newly acquired Wydee Property.  The company currently has a working capital of nearly $800,000 in cash and securities to finance its exploration activities.

The table below shows the total 43-101 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.

















Using US$1.75 per lb Copper, US$0.80 per lb Zinc, US$700 per oz Gold and US$10 per oz Silver.
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. Andre C. Tessier, P.Geo, a qualified person in accordance with Canadian regulatory requirements as set out in National Instrument 43-101.  Geochemical analyses were performed at Activation Laboratories Ltd in Thunder Bay Ontario.  Gold was analyzed by fire assay with Atomic Absorption finish while all other elements were analyzed by total digestion ICP.  Any assay greater than  3000ppb were redone with fire assay and finished using a gravimetric micro balance. To know more about Murgor's QA/QC procedure, please visit www.murgor.com/corporate-responsibility/quality-assurance-and-quality-control-qaqc-procedures.

FOR FURTHER INFORMATION ON MURGOR AND THE WYDEE PROPERTY, PLEASE VISIT MURGOR'S WEBSITE AT WWW.MURGOR.COM OR CONTACT:

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.

SOURCE Murgor Resources Inc.

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