TORONTO, Jan. 10, 2019
/CNW/ - Murchison Minerals Ltd. ("Murchison" or
the "Company") (TSXV: MUR) is pleased to announces that it
has doubled the size of the previously announced VTEM airborne
survey and tripled its mineral land holdings at the Zn/Cu/Ag
Brabant VMS project.
Murchison announces that it has tripled its mineral rights
holdings at its 100 percent owned Brabant VMS project in
central Saskatchewan with the
recent staking of 14,807 hectares of mineral claims contiguous
to its current land holdings. The Company now controls 221.8
km2 of mineral rights over a strike length of
approximately 29 kilometres.
Preliminary interpretation of the ongoing VTEM airborne
geophysical survey shows multiple conductors that range in strike
length from 200 metres to in excess of 6 kilometres. They are
located within a favourable Archaean greenstone belt geological
environment that has the potential to host a prolific VMS
camp. Several of these strong electromagnetic ("EM")
conductors have coincident magnetic ("Mag") highs, which is the
case with the Brabant McKenzie VMS deposit located within
Murchison's claims. Preliminary analysis of the various conductors
suggests that their depth vary from sub-cropping to in excess of
200 metres. St-Pierre Geoconsultant Inc. is reviewing results
of the VTEM survey.
Additional claims were staked to cover a lake sediment gold
anomaly located at the south end of the Company's land holdings.
This anomaly was originally identified as a result of a 1975 lake
sediment sampling survey undertaken by the Geological Survey of
Canada. This gold anomaly appears
to share similar characteristics to the lake sediment gold anomaly
associated with the Seabee gold mine located about 30 kilometres to
the southeast.
VTEM Airborne Survey:
Murchison initiated a 551 line kilometre helicopter based VTEM
airborne survey including magnetics over much of the new claims
acquired in the past 2 years (see Press Release dated December 6, 2018). The airborne survey is being
completed by Geotech Ltd.'s Versatile Time-Domain Electromagnetic
(VTEM™ Max) geophysical system. Preliminary results from the early
flight lines were highly encouraging, identifying a number of
strong EM/Mag anomalies, which led to the decision to stake
additional claims and to double the survey size to 1,050 line
kilometres. This survey has confirmed that all of the known
sulphide-bearing mineral showings in the land package are
associated with strong EM conductors. The survey continues to
identify new anomalies, which is very encouraging as VMS deposits
tend to occur in clusters.
A number of these EM conductors share similar characteristics
with those registered over the wholly-owned Brabant McKenzie VMS
deposit where a resource of 2.1 million tonnes averaging 9.98% Zn
equivalent in the indicated and 7.6 million tonnes averaging 6.29%
Zn equivalent in the inferred categories has already been
identified. Previous studies on the Brabant McKenzie VMS deposit
concluded that it lies in a similar geological setting and is of
the same age as the Flin Flon VMS mining camp in Manitoba.
The final report on the ongoing airborne VTEM survey is expected
in early March.
Future plans include field prospecting over all of the newly
identified anomalies following the spring breakup.
About the Brabant-McKenzie Project:
The
Brabant-McKenzie project is located 175 kilometres northeast of
La Ronge, Saskatchewan and
approximately 3 kilometres from the community of Brabant Lake. The area is accessed year-round
via provincial Highway 102 and is serviced by grid power. The
project consists of one mining lease, which hosts the Brabant
McKenzie VMS deposit, and an additional 20 mineral claims totalling
22,180 hectares, which cover approximately 29 kilometres of strike
length over favourable geological horizons, multiple known
mineralized showings and identified geophysical conductors.
About Murchison Minerals Ltd.
Murchison
Minerals Ltd. is a Canadian based exploration company focused on
the exploration and development of the 100% owned Brabant-McKenzie
zinc-copper project in north-central Saskatchewan. The Company also has a 50%
interest in the HPM nickel/copper/cobalt project in Quebec and gold projects in the Pickle Lake area of north western Ontario. Murchison has 44.2 million shares
issued and outstanding.
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.
