Business
Murgor partner makes new gold discovery at the Nelligan Gold Property in north-western Quebec
Murgor partner makes new gold discovery at the Nelligan Gold Property in north-western Quebec
About this update from Hudbay Minerals Inc
[{"type":"text","content":"\n\n\n\nSep. 16, 2009 (Canada NewsWire Group) -- KINGSTON, ON, Sept. 16 /CNW Telbec/ -- Murgor Resources Inc. (MGR: TSX-V) today announced that its exploration partner, Metanor Resources Inc. (MTO: TSX.V), intersected a new gold-bearing shear zone at its Nelligan Gold Property in north-western Quebec.As reported in Metanor's press release today, drill hole NE-09-02 returned assays of 28.06 g/t gold over 4.54 meters (uncut) or 6.61 g/t Au over 4.54 meters (cut to 1 oz/t), including a section of 234 g/t Au over 0.5 meter. The drill hole was collared within the shear zone and therefore the intersection started from surface. Results from all other drill holes are pending.\"This is a very exciting and promising new discovery at Nelligan for both companies,\" said André Tessier, President and CEO of Murgor Resources. \"We are looking forward to receiving the results from Metanor's remaining drill holes.\"The Nelligan property consists of 58 claims covering approximately 2,895 ha, located immediately west of the Bachelor Lake Gold Mine property and approximately 8 kilometers southwest of the Town of Desmaraisville. Murgor first discovered gold mineralization on the Billy claims at Nelligan in 2006 during a mechanical trenching program which uncovered a NE-trending shear zone from which three channel samples returned 124 g/t Au over 2.53 metres (including a 53 cm section grading 582 g/t Au), 2.82 g/t Au over 1.19 metres and 2.65 g/t Au over 1.07 metres (see press release dated December 14, 2006).Results obtained at the property so far, confirm the potential for new gold mineralization in the NE-trending deformation corridor west of the Bachelor Gold Mine. The gold zone on the Billy claims is located 5km SW of the Bachelor Gold Mine while the newly discovered gold bearing zone is located on the Valley claims and is situated approximately 10 Km SW of the Bachelor mine.The true width of the intersection reported above is approximately 80 to 90% of the core length obtained in diamond drill holes. Analyses were performed by fire assay at the Bachelor Mine laboratory, Quebec.Metanor is currently in the earn-in phase of an option agreement with Murgor, at the Nelligan Gold Property whereby Metanor can earn an interest of up to 70% in the property by August 29, 2010 (see press release of September 6th, 2007).Mr. André Tremblay, P Eng....