Murgor Resources outlines four gold-bearing syenitic intrusions at Wydee, Matachewan
Four poorly explored, kilometre-scale gold-bearing syenitic intrusions were outlined, adjacent to or cut by splays of the Larder Lake-Cadillac fault.KINGSTON, ON, Oct. 09, 2014 /CNW/ - Murgor Resources Inc. (TSXV: MGR) ("Murgor") released today a summary of results from its summer 2014 field work at its wholly owned Wydee project near Matachewan, Ontario. The Wydee Property is located 6 kilometres west-northwest of the Town of Matachewan, Ontario, where Aurico Gold operates the Young Davidson gold mine, a syenite-hosted gold deposit.
The summer exploration program at Wydee consisted of geological mapping, prospecting, sampling and ground-proofing of geophysical anomalies and known occurrences, with special emphasis on poorly known syenitic intrusions located adjacent to or cross-cut by splays of the Larder Lake-Cadillac fault.
To date, at least four (4) gold-bearing syenitic intrusions have been identified at Wydee. Only one syenitic intrusion was drill-tested by a single drill hole 148m in length.
"The recognition of these gold-enriched intrusions is a very important first step to our exploration program at Wydee. We consider these syenitic intrusions to be excellent targets with great potential for discoveries." said Andre Tessier, President and CEO of Murgor Resources.
The Powell Syenite, is the largest of the syenitic intrusions at 4km length and 2.5 km width with its long axis trending E-W. It is also the only intrusion that has been drill tested by a single drill hole. The north contact of the intrusion is cut by the Galer Fault where Murgor sampled up to 1.24g/t gold in June 2014. The intrusion is cored by a magnetic low which coincides with a newly outlined EW-trending fault. Past exploration work on this poorly documented structure returned channel samples grading up to 0.41 g/t Au and 0.32 g/t Au over a metre length. The magnetic low portion within the Powell syenite is considered as a potential target for gold mineralization.
Three other gold-bearing, altered syenitic intrusions have been identified in the central part of the Wydee property, ranging in size from 1,500m x 300m to 1,900m x 900m.
Syenite #1 is host to at least one known gold occurrence where previous workers sampled up to 42.17g/t gold. Other previous workers collected fourteen (14) samples from Syenite #1 in 2002-2003 with twelve (12) returning values of 0.01 to 3.91g/t gold. One sample collected by Murgor returned 0.03g/t gold.
Syenite #2 straddles a major geological contact between volcanic units which coincides with a thin, strongly deformed sedimentary belt displaying strong Fe-carbonate alteration. Limited sampling from previous workers in 2002 and 2003 returned gold values of up to 2.99 g/t gold in quartz veinlets and pyrite seams. Murgor discovered a 50cm quartz vein within the #2 syenite intrusion assaying up to 0.4g/t gold.
Altered dikes from this intrusion are spatially associated with gold mineralization. For example, dikes were observed at the Sunisloe and McGill gold occurrences where grab samples collected by Murgor returned 9.65 and 8.70g/t gold, and 0.75 and 1.24g/t gold respectively.
Syenite #3 has only been observed over a 500m diametre in the central part of a larger magnetic low. Every sample of quartz veinlets, zones of finely disseminated pyrite and aplitic dikes within the #3 syenite have returned gold values ranging from 0.01 to 0.48 g/t and averaging 0.113 g/t gold.
Highlights from Murgor's summer 2014 exploration program include (see also Murgor press release dated July 31, 2014):
1) Grab samples returning assays of:
(grab samples are selective by the nature and are not necessarily representative of the mineralization in the zone)
- 9.65 g/t Au and 8.70 g/t Au at the old Sunisloe gold occurrence in sub-horizontal extension quartz veins similar to the Type-3 veins observed at the Young Davidson Mine.
- 0.75 g/t Au at the old McGill gold occurrence in sub-vertical quartz veinlets.
- 1.26 g/t Au on a new gold occurrence located 47 metres away from the old McGill gold occurrence also in sub-vertical quartz veinlets.
- 1.24 g/t Au and 0.37 g/t Au on the Galer Fault (a splay off the Larder Lake-Cadillac fault at the north contact of the Powell Syenite Intrusion).
- A new gold occurrence within the #2 syenite with a 50cm quartz vein assaying up to 0.4g/t gold.
2) The delineation of a new EW-trending, vertical shear zone cutting through the Powell Syenite Intrusion.
- The structure is defined over a minimum strike length of 5 kilometres and is based on one large outcrop and linear topographical features such as creek, lakes and topographic lows.
- Past exploration work on the one outcrop has returned channel samples grading up to 0.41 g/t Au and 0.32 g/t Au over a metre length.
- The Powell Syenite is increasingly hematized approaching the topographic lows where the structure is interpreted.
- The structure is characterized by a coincident magnetic low geophysical anomaly.
3) The suggestion from whole rock geochemical data, that a number of syenitic intrusions at Wydee have similar compositions to the syenite hosting the Young-Davidson gold deposit.
- Immobile element geochemistry show three syenitic intrusions at Wydee have similar patterns.
- One syenite intrusion returned 2 assays of anomalous gold background (i.e. 18 and 55 ppb).
4) The recognition of at least three (3) prospective, gold-bearing, altered syenitic intrusions (in addition to the Powell syenite) in close proximity or crosscut by splays of the Larder Lake-Cadillac fault.
Please visit www.murgor.com for new figures and maps on the Wydee property under the "Project" tab
About the Wydee Property
The Wydee Property consists of 45 contiguous unpatented claims (302 units), covering 4,837 hectares, northwest of the Town of Matachewan in Ontario where Aurico Gold operates the Young Davidson Gold mine. Reserves and resources at the Young Davidson Mine are currently reported at 5.5 million ounces of gold at an average grade of 2.66 g/t gold (a breakdown of reserves and resource at Young Davidson, is provided at the Aurico Gold Website). The Young Davidson Mine complex also includes a fully operational 10,000 tonne per day mill. Murgor owns a 100% interest in all the claims. Despite its proximity to the Young Davidson deposit, very little systematic exploration has been carried-out in the area. Murgor is focused on two types of targets at Wydee: Syenite-hosted stockwork and disseminated gold such as the Young Davidson deposit and shear zone-hosted disseminated and lode gold mineralization associated with splays of the Larder Lake-Cadillac Fault.
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 table below shows the total 43-101 compliant 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. Gold analyses were performed at Activation Laboratories Ltd in Timmins Ontario. To know more about Murgor's QA/QC procedure, please visit www.murgor.com/corporate-responsibility/quality-assurance-and-quality-control-qaqc-procedures.
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.
CONTACT:
ON MURGOR AND THE WYDEE PROPERTY, PLEASE VISIT MURGOR'S WEBSITE OR CONTACT:
André C. Tessier, President & CEO
Murgor Resources Inc.
Tel: (613) 546-7503 or 1-888-891-3330
E-mail: info@murgor.com