MOAG Reports Extended Molybdenum, Copper & Silver Mineralization from Mace Holes 02 & 03 in Ireland
01.10.2014 | Accesswire
Toronto, ON / ACCESSWIRE / October 1, 2014 / MOAG Copper Gold Resources Inc. ("Moag") (CSE:MOG) today provides the following update of Moag's drilling campaign on its Mace property in the west of Ireland, designed to test historic coincident copper-molybdenum geochemical and geophysical anomalies, which were drill tested in 1969-70 to approximately 50m depth. Moag's previously reported diamond drill hole (14-934-01; of six planned) intersected pyrite, chalcopyrite and molybdenite linked to quartz veining, brecciation and stringers in altered granite.Results have been received for two further drill holes, 14-934-02 (collared approximately 50m grid west, and on the same line of section as Hole 14-934-01) and hole 14-934-03 (drilled 100m grid north of hole -01). Hole 14-934-02 was drilled to azimuth 120 degrees for a terminal depth of 221.9m, while hole 14-934-03 was drilled to 154.7m to the same azimuth. In each hole, considerable epidote and potassic alteration of the granite host was logged proximal to mineralised quartz veinlets and fracture zones. Core recovery was excellent throughout in both holes.
Selected samples of mineralised core (as half core samples, from 0.3m to 1.9m lengths) were submitted for analysis by the international ALS Global Laboratories in Loughrea, Ireland. Geochemical analyses of the half-core samples have returned anomalous results for coincident molybdenum (Mo), copper (Cu) and silver (Ag), with maxima of
Hole 14-934-02
- 3.2m @ 0.28% Cu, 0.16% Mo and 21.96 g/t Ag (88.8 - 92.0m)
Including an interval of 0.3m of 1.04% Cu, 0.72% Mo and 6.9 g/t Ag (88.8-89.1m)
- 3.3m @ 0.27% Cu, 0.8% Mo and 0.85g/t Ag (103.7 - 107m)
Including an interval of 0.3m of 0.02% Cu, 1.045% Mo, <0.5 g/t Ag (103.7 - 104m)
Including an interval of 0.9m of 0.64% Cu, 1.295% Mo, 1.4g/t Ag (104.7 - 105.6m)
Hole 14-934-03
- 3.2m @ 0.1% Cu, 0.09% Mo and 0.5 g/t Ag (46.6-49.8m)
- 0.7m @ 0.11% Cu, 0.11 % Mo and <0.5 g/t Ag (47.3-48m)
All intervals cited above are down-the-hole depths.
A summary of the main copper-molybdenum-silver intervals for holes 14-934-02 and 14-934-03 is presented in the table below.
CORE ASSAY RESULTS
DIAMOND DRILLHOLES 14-934-02; 14-934-03
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|PL 934 MACE CO GALWAY IRELAND |
|----------------------------------------------------------------------------------|
|DDH 14-934-02, 14-934-03 |Results (weighted averages) |
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|HOLE |Depth |Declination|Azimuth| |From |To |(m) |Cu% |Mo% |Ag |
| |(m) | | | | | | | | |g/t |
|----------------------------------------------------------------------------------|
|14-934-02|221.9 |-50 |120 | |88.8 |92 |3.2 |0.28 |0.165|21.96|
|----------------------------------------------------------------------------------|
| | | | |including|88.8 |89.1 |0.3 |1.04 |0.72 |6.9 |
|----------------------------------------------------------------------------------|
| | | | | |98 |99.2 |1.2 |0.03 |0.11 |0.6 |
|----------------------------------------------------------------------------------|
| | | | | |103.7|107 |3.3 |0.27 |0.8 |0.85 |
|----------------------------------------------------------------------------------|
| | | | |including|103.7|104 |0.3 |0.02 |1.045|<0.5 |
|----------------------------------------------------------------------------------|
| | | | | |104.7|105.6 |0.9 |0.64 |1.295|1.4 |
|----------------------------------------------------------------------------------|
| | | | | | | | | | | |
|----------------------------------------------------------------------------------|
|14-934-03|154.7 |-50 |120 | |29.5 |30.5 |1 |0.036|0.069|0.6 |
|----------------------------------------------------------------------------------|
| | | | | |36 |38 |2 |0.07 |0.04 |0.75 |
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| | | | | |41 |43.4 |2.4 |0.06 |0.07 |0.5 |
|----------------------------------------------------------------------------------|
| | | | |including| 41.8| 42.26|0.46|0.03 |0.12 |0.5 |
|----------------------------------------------------------------------------------|
| | | | | |46.6 |49.8 |3.2 |0.1 |0.09 |0.5 |
|----------------------------------------------------------------------------------|
| | | | |including|46.6 |47 |0.4 |0.04 |0.1 |<0.5 |
|----------------------------------------------------------------------------------|
| | | | | |47.3 |48 |0.7 |0.11 |0.11 |<0.5 |
|----------------------------------------------------------------------------------|
| | | | | |49 |49.8 |0.8 |0.15 |0.09 |<0.5 |
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Drilling and geological assessment is continuing to test the strike and down dip extent of the granite-hosted mineralised vein system. Results will be reported in due course.
The scientific and technical information contained in this news release was prepared, supervised and approved by the Qualified Person as defined in NI 43-101, Deirdre Lewis, PhD PGeo EurGeol.
On Behalf of the Board
Bradley L. Jones, CPA, CA
Chief Operating Officer & CFO
For further information please contact:
MOAG Copper Gold Resources Inc.
Bradley L. Jones, COO & CFO
(416) 510 8397
bradley.jones@moag.ca
Gary R. Brown, CEO
(778) 839-0622
gary.brown@moag.ca
www.moag.ca
Notice Regarding Forward-Looking Statements
This news release contains "forward-looking statements," Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future, including but not limited to, statements regarding Moag's exploration program.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mineral exploration and difficulties associated with obtaining financing on acceptable terms. We are not in control of metals prices and these could vary to make development uneconomic. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate.