Moag Confirms Significant Molybdenum-Copper-Silver Mineralization at its Mace Property in Ireland
02.12.2014 | Accesswire
Toronto, ON / ACCESSWIRE/ December 2, 2014 / MOAG Copper Gold Resources Inc. ("Moag") (CSE:MOG) today provides the following update of Moag's drilling campaign on its Mace property (Prospecting Licence No. 19456446 Area 934, referred to herein as PL 934) in County Galway in the west of Ireland.PL 934 incorporates a molybdenum-(copper) prospect known as 'Mace', located on the southeast side of Bunnacliffa Lough in Mace townland, identified in the late 1960s by mapping, geochemistry, geophysics and shallow drilling (<45m vertical depth).
Highlights:
- 6-hole drill program for 1102m confirms presence of significant molybdenite-copper-silver prospect at Mace within potassic-epidote altered granites.
- Intercepts up to 3.1m @0.34% Cu, 0.29% Mo and 3.43 g/t Ag; 3.3m @0.37% Cu; 1.24% Mo and 0.7g/t Ag, within broad zones of up to 16m @ 0.14% Cu; 0.10% Mo and 0.81 g/t Ag, hosted within altered and mineralised granite rock.
- Drilling confirms mineralised zone extends >350m along strike, and 150m vertical depth, and open along strike and down dip.
Moag completed a program of six (6) cored boreholes on PL934 in 2014 to test the previously defined mineralised zone at Mace and to assess the continuity of mineralised zones to >100m depths.
PL 934 Mace, Co Galway, Ireland - Summary of Drill Programme 2014
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|Hole I.D |Easting|Northing|Grid|Start |Finish |Planned|Final |Azimuth|Decl.|
| | | | |Date |Date |Depth |Depth | | |
| | | | | | |(m) |(m) | | |
|-----------------------------------------------------------------------------------|
|14-934-01|474417 |732417 |ITM |24/07/2014|08/08/2014|150.00 |206.60 |120 |-50 |
|-----------------------------------------------------------------------------------|
|14-934-02|474381 |732449 |ITM |12/08/2014|22/08/2014|150.00 |221.60 |120 |-50 |
|-----------------------------------------------------------------------------------|
|14-934-03|474489 |732491 |ITM |26/08/2014|03/09/2014|150.00 |154.70 |120 |-50 |
|-----------------------------------------------------------------------------------|
|14-934-04|474252 |732407 |ITM |09/09/2014|19/09/2014|150.00 |217.00 |120 |-50 |
|-----------------------------------------------------------------------------------|
|14-934-05|474268 |732215 |ITM |22/09/2014|30/09/2014|150.00 |152.00 |120 |-50 |
|-----------------------------------------------------------------------------------|
|14-934-06|474352 |732345 |ITM |01/10/2014|10/10/2014|150.00 |150.70 |120 |-50 |
|-----------------------------------------------------------------------------------|
|TOTAL | | | | | |900.00 |1102.60| | |
|(m) | | | | | | | | | |
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Following completion of the drill program for a final 1102.6m, Moag has confirmed the existence of a significant molybdenum-copper-silver prospect to a vertical depth of at least 150m, over a minimal strike length of 350m at Mace. Geological mapping and historic drilling suggest that the prospect extends for at least 1000m along a northeasterly geological strike. The prospect is open both along strike and down dip. It is anticipated that future drilling will extend the dimensions of the prospect both vertically and laterally.
Drilling for 2014 has now been completed and results received for the six holes.
Click Image To View Full Size
Location map showing current outline of Mace Prospect, Co. Galway, with drillhole collars (2014 drillhole collars shown in red; previous 1960s shallow holes in blue).
The diamond drill holes (14-934-01, -02, -03, -04, -05, -060 intersected chalcopyrite, molybdenite and pyrite linked to quartz veining, brecciation and quartz stringers in the altered Mace-Ards Granite. Molybdenite is hosted in narrow to wide (approx. 0.1cm - 50cm), steeply dipping quartz veins and stringers. These veins have a vertical to 85? dip and strike north-easterly (020?). Molybdenite also occurs as blebby disseminations and in quartz stringers within the host granite rock and as striations on joint planes. Considerable epidote and potassic alteration of the granite host was logged, proximal to and genetically associated with the mineralised quartz veins and fracture zones.
Core recovery was generally excellent throughout the six holes (HQ and NQ core), with the exception of the lowest 34m of 14-934-04 where a fault zone was intersected from 183-217m All of hole 14-934-01 and selected samples of mineralised core from each of each of 14-934-02, -03, -04, -05 and -06 (as half core samples, from 0.3m to 1.9m lengths) were submitted for analysis by the internationally accredited ALS Global Laboratories in Loughrea, Co. Galway, Ireland. Geochemical analyses of the half-core samples have returned anomalous results for coincident molybdenum (Mo), copper (Cu) and silver (Ag), with maxima as shown as composites in the following table.
CORE ASSAY RESULTS: PL 934, MACE, CO GALWAY, IRELAND
DIAMOND DRILLHOLES 14-934-01, -02, -03, -04, -05, -06
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|14-934-01 | |
|----------------------------------------------------------|
|Metres |Cu % |Mo |Ag |From |To | |
|(width)| |% |g/t |(m) |(m) | |
|----------------------------------------------------------|
|0.50 |0.44 |0.26 |<0.5 |6.50 |7.00 | |
|----------------------------------------------------------|
|7.60 |0.18 |0.13 |1.81 |19.00 |26.6m |including |
|----------------------------------------------------------|
|3.10 |0.34 |0.29 |3.43 |20.20 |23.3m | |
|----------------------------------------------------------|
|7.40 |0.10 |0.15 |0.94 |45.00 |52.4m |including |
|----------------------------------------------------------|
|3.00 |0.19 |0.22 |1.73 |48.00 |51.0m | |
|----------------------------------------------------------|
|3.10 |0.11 |0.12 |0.00 |57.90 |61.0m | |
|----------------------------------------------------------|
|1.00 |0.04 |0.11 |<0.5 |63.00 |64.0m | |
|----------------------------------------------------------|
|10.00 |0.05 |0.04 |0.95 |71.00 |81.0m | |
|----------------------------------------------------------|
|3.00 |0.03 |0.02 |0.33 |85.00 |88.0m | |
|----------------------------------------------------------|
|3.00 |0.04 |0.05 |0.17 |89.00 |92.0m | |
|----------------------------------------------------------|
|4.10 |0.09 |0.08 |0.39 |99.00 |103.1m| |
|----------------------------------------------------------|
|1.00 |0.16 |0.31 |1.40 |110 |111.0m| |
|----------------------------------------------------------|
|2.00 |0.12 |0.04 |1.00 |117 |119.0m| |
|----------------------------------------------------------|
|1.00 |0.06 |0.15 |<0.5 |128 |129.0m| |
|----------------------------------------------------------|
|7.00 |0.06 |0.04 |0.00 |136 |143.0m| |
|----------------------------------------------------------|
|14.20 |0.03 |0.03 |<0.5 |152 |166.2m| |
|----------------------------------------------------------|
|4.00 |0.07 |0.05 |0.30 |180 |184.0m| |
|----------------------------------------------------------|
|8.40 |0.04 |0.03 |0.15 |197 |205.4m| |
|----------------------------------------------------------|
|14-934-02 | |
|----------------------------------------------------------|
|Metres |Cu % |Mo |Ag |From |To | |
| | |% |g/t |(m) |(m) | |
|----------------------------------------------------------|
|11.50 |0.05 |0.04 |<0.5 |6.50 |18.00 | |
|----------------------------------------------------------|
|3.40 |0.05 |0.09 |0.74 |22.60 |26.00 | |
|----------------------------------------------------------|
|1.00 |0.08 |0.18 |0.70 |30.00 |31.00 | |
|----------------------------------------------------------|
|10.00 |0.05 |0.08 |0.06 |35.00 |45.00 |including |
|----------------------------------------------------------|
|1.00 |0.10 |0.12 |0.6 |35.00 |36.00 | |
|----------------------------------------------------------|
|3.00 |0.04 |0.08 |1.5 |66.00 |69.00 | |
|----------------------------------------------------------|
|16.00 |0.14 |0.10 |0.81 |76.00 |92.00 |including |
|----------------------------------------------------------|
|2.20 |0.79 |0.16 |5.68 |88.80 |91.00 | |
|----------------------------------------------------------|
|1.00 |0.23 |0.25 |<0.5 |95.80 |96.80 | |
|----------------------------------------------------------|
|1.20 |0.03 |0.11 |0.60 |98.00 |99.20 | |
|----------------------------------------------------------|
|3.30 |0.37 |1.24 |0.70 |103.70 |107.00| |
|----------------------------------------------------------|
|1.15 |0.07 |0.12 |0.70 |112.35 |113.50| |
|----------------------------------------------------------|
|3.75 |0.21 |0.17 |0.00 |169.25 |173.00|including |
|----------------------------------------------------------|
|0.30 |1.79 |1.95 |5.3 |170.45 |170.75| |
|----------------------------------------------------------|
|14-934-03 | | |
|----------------------------------------------------------|
|Metres |Cu |Mo |Ag |From |To (m) | | |
| |% |% |g/t |(m) | | | |
|----------------------------------------------------------|
|5.50 |0.06|0.10 |0.36 |16.00 |21.50 | | |
|----------------------------------------------------------|
|0.60 |0.02|0.04 |0.36 |29.90 |30.50 | | |
|----------------------------------------------------------|
|1.10 |0.10|0.09 |1.18 |31.50 |32.60 | | |
|----------------------------------------------------------|
|2.00 |0.07|0.04 |0.75 |36.00 |38.00 | | |
|----------------------------------------------------------|
|4.40 |0.14|0.11 |0.14 |46.60 |51.00 | | |
|----------------------------------------------------------|
|1.20 |0.05|0.10 |0.42 |63.60 |64.80 | | |
|----------------------------------------------------------|
|5.3 |0.04|0.03 |0.17 |72.56 |78.4 |including| |
|----------------------------------------------------------|
|0.54 |0.07|0.31 |1.85 |73.10 |78.40 | | |
|----------------------------------------------------------|
|14-934-04 | | |
|----------------------------------------------------------|
|Metres |Cu |Mo |Ag |From |To (m) | | |
| |% |% |g/t |(m) | | | |
|----------------------------------------------------------|
|1.00 |0.07|0.19 |0.50 |118.10 |119.10 | | |
|----------------------------------------------------------|
|1.9 |0.06|0.10 |<0.5 |122.20 |125.50 | | |
|----------------------------------------------------------|
|14-934-05 | | |
|----------------------------------------------------------|
|Metres |Cu |Mo |Ag |From |To (m) | | |
| |% |% |g/t |(m) | | | |
|----------------------------------------------------------|
|12.50 |0.04|0.02 |0.00 |3.50 |17.20 | | |
|----------------------------------------------------------|
|10.73 |0.13|0.10 |0.95 |23.17 |33.90 |including| |
|----------------------------------------------------------|
|3.19 |0.12|0.13 |0.88 |23.17 |26.36 | | |
|----------------------------------------------------------|
|3.50 |0.18|0.11 |1.09 |30.40 |33.90 | | |
|----------------------------------------------------------|
|12.80 |0.07|0.09 |0.80 |36.15 |48.95 |including| |
|----------------------------------------------------------|
|0.88 |0.12|0.37 |1.25 |36.15 |37.03 | | |
|----------------------------------------------------------|
|0.72 |0.25|0.35 |2.08 |48.95 |48.95 | | |
|----------------------------------------------------------|
|3.00 |0.06|0.12 |0.50 |65.10 |68.10 | | |
|----------------------------------------------------------|
|0.60 |0.23|3.92 |<0.5 |69.10 |69.70 | | |
|----------------------------------------------------------|
|3.20 |0.09|0.04 |<0.5 |100.25 |103.45 | | |
|----------------------------------------------------------|
|1.45 |0.15|0.30 |0.83 |114.60 |116.05 |including| |
|----------------------------------------------------------|
|0.86 |0.19|0.39 |1.40 |114.60 |115.46 | | |
|----------------------------------------------------------|
|1.10 |0.04|0.13 |<0.5 |119.70 |120.80 | | |
|----------------------------------------------------------|
|2.75 |0.08|0.78 |1.20 |139.30 |142.05 |including| |
|----------------------------------------------------------|
|0.60 |0.15|3.4 |4.67 |141.45 |142.05 | | |
|----------------------------------------------------------|
|2.10 |0.05|0.07 |0.43 |148.00 |150.10 | | |
|----------------------------------------------------------|
|14-934-06 | | |
|----------------------------------------------------------|
|Metres |Cu |Mo |Ag |From |To (m) | | |
| |% |% |g/t |(m) | | | |
|----------------------------------------------------------|
|2.40 |0.06|0.07 |0.58 |10.10 |12.5 | | |
|----------------------------------------------------------|
|5.35 |0.06|0.13 |0.36 |25.00 |30.35 |including| |
|----------------------------------------------------------|
|1.20 |0.04|0.14 |<0.5 |25.00 |26.2 | | |
|----------------------------------------------------------|
|1.00 |0.10|0.44 |0.5 |28.40 |29.40 | | |
|----------------------------------------------------------|
|9.60 |0.06|0.13 |0.29 |53.20 |62.80 |including| |
|----------------------------------------------------------|
|0.70 |0.11|0.76 |<0.5 |54.30 |55.00 | | |
|----------------------------------------------------------|
|0.85 |0.06|0.37 |<0.5 |59.35 |60.20 | | |
|----------------------------------------------------------|
|0.80 |0.10|0.19 |<0.5 |62.00 |62.80 | | |
|----------------------------------------------------------|
|5.00 |0.03|0.07 |0.16 |66.40 |71.40 |including| |
|----------------------------------------------------------|
|1.00 |0.02|0.12 |<0.5 |70.40 |71.40 | | |
|----------------------------------------------------------|
|4.64 |0.06|0.29 |0.30 |76.70 |81.34 |including| |
|----------------------------------------------------------|
|2.00 |0.05|0.14 |<0.5 |76.70 |78.70 | | |
|----------------------------------------------------------|
|0.81 |0.15|1.25 |1.73 |80.53 |81.34 | | |
|----------------------------------------------------------|
|3.26 |0.08|0.04 |0.55 |88.00 |91.26 | | |
|----------------------------------------------------------|
|1.20 |0.13|0.12 |<0.5 |94.80 |96.00 | | |
|----------------------------------------------------------|
|4.80 |0.03|0.10 |0.10 |108.50 |113.30 | | |
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Geological interpretation and mineral assemblages suggest that this Mo-Cu-Ag deposit is located within the phyllic zone of the Mace-Ards granite porphyry phase of the Galway Granite.
Click Image To View Full Size
14-934-01 example of typical style of mineralised veins in core, with associated potassic-epidote alteration.
Additional drilling is planned for 2015 to test along-strike and down-dip of the known molybdenite-copper-silver mineralised system in a further phase of drilling.
MOAG contracted SLR Consulting Ireland www.slrconsulting.com to manage the drilling program, including geological targeting, logging and interpretation, liaison with landowners, laboratory and statutory authorities, environmental management and completion of statutory reporting functions on its behalf.
The scientific and technical information contained in this news release was prepared, supervised and approved by the Qualified Person, Dr. Deirdre Lewis, PhD PGeo EurGeol, a Technical Director with SLR Consulting.
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
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 programs.
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.