Moag Continues to Identify Significant Molybdenum-Copper-Silver Mineralization at its Mace Property in Ireland
Toronto, ON / TheNewswire / September 24, 2015-MOAG Copper Gold Resources Inc. ("Moag")(CSE:MOG) (OTCQB:MGCPF) 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.
MOAG is continuing to upgrade the Mace molybdenite-copper-silver (Mo-Cu-Ag) prospect. Since July, MOAG has diamond drilled 1920m of a planned 5000m, along an altered, north-east trending zone of mineralisation. The Mo-Cu-Ag mineralisation is hosted primarily in quartz veins within the host granite, extending for >750m along strike and 200m vertical depth, and is open along strike and down dip.
Highlights:
-
-9 diamond cored holes (HQ to 50m with NQ tails to max. 250m depth) for 1920m have been completed to date. Results have been received to date for two holes as follows:
-DDH 15-934-07 highlight results include:
| Downhole Depth (m) | |||||
| From | To | Interval (m) | Mo % | Cu % | Ag g/t |
| 22.9 | 26.6 | 2.1 | 0.378 | 0.209 | 0.6 |
| including 24 | 24.6 | 0.6m | 0.545 | 0.186 | 0.5 |
| 36 | 38.53 | 2.53 | 0.359 | 0.483 | 3.8 |
| including 37.6 | 38.2 | 0.6 | 0.494 | 0.143 | 1.6 |
| 42.33 | 43.5 | 0.8 | 0.603 | 0.373 | 1.7 |
| 44.2 | 44.6 | 0.4 | 2.544 | 0.050 | 0.6 |
| 61.8 | 63.2 | 1.4 | 0.386 | 0.090 | 4.9 |
-
-DDH 15-934-08 highlight results include:
| 36.5 | 37.88 | 1.38 | 0.620 | 0.087 | <0.5 |
| 70.9 | 73.26 | 2.36 | 0.372 | 0.150 | 0.51 |
| 75.4 | 76.6 | 1.2 | 0.282 | 0.134 | <0.5 |
| 95.9 | 96.3 | 0.4 | 0.257 | 0.118 | 1.08 |
| 101.17 | 102 | 0.83 | 0.329 | 0.137 | 0.66 |
| 126.4 | 130.8 | 4.4 | 0.341 | 0.060 | 0.36 |
| including 129.6 | 130.8 | 0.96 | 1.212 | 0.064 | 0.96 |
More detailed results are presented in Tables 1 and 2 below.
| Table 1. DDH 15-934-07 | PL 934 Mace Co Galway | 2015 | ||||
| Downhole | Mo | Cu | Ag | |||
| Depth | % | % | g/t | |||
| From(m) | To (m) | Width (m) | weighted averages | |||
| 5.8 | 9.3 | 2.5 | 0.052 | 0.030 | <0.5 | |
| 11 | 12.1 | 1.1 | 0.083 | 0.058 | <0.5 | |
| 14 | 15 | 1 | 0.635 | 0.095 | <0.5 | |
| 20 | 21.3 | 1.3 | 0.073 | 0.055 | <0.5 | |
| 22.9 | 26.6 | 2.1 | 0.378 | 0.209 | 0.6 | including |
| 24 | 24.6 | 0.6m | 0.545 | 0.186 | 0.5 | |
| 27.9 | 29 | 1.1 | 0.047 | 0.089 | 0.9 | |
| 32 | 32.8 | 0.8 | 0.084 | 0.072 | 0.8 | |
| 34 | 35 | 1 | 0.052 | 0.046 | <0.5 | |
| 36 | 38.53 | 2.53 | 0.359 | 0.483 | 3.8 | including |
| 37.6 | 38.2 | 0.6 | 0.494 | 0.143 | 1.6 | |
| 42.33 | 43.5 | 0.8 | 0.603 | 0.373 | 1.7 | |
| 44.2 | 44.6 | 0.4 | 2.544 | 0.050 | 0.6 | |
| 45.84 | 48 | 2.16 | 0.063 | 0.056 | <0.5 | |
| 49.2 | 51.6 | 2.4 | 0.080 | 0.041 | 1 | |
| 54.6 | 55.8 | 1.2 | 0.185 | 0.039 | 0.6 | |
| 57.2 | 59.6 | 2.4 | 0.056 | 0.049 | <0.5 | |
| 61.8 | 63.2 | 1.4 | 0.386 | 0.090 | 4.9 | |
| 64 | 65 | 1 | 0.056 | 0.046 | 0 | |
| 73.7 | 74.9 | 1.2 | 0.052 | 0.032 | <0.5 | |
| 80 | 81 | 1 | 0.153 | 0.038 | <0.5 | |
| 86 | 87.7 | 1.7 | 0.101 | 0.055 | <0.5 | |
| 89 | 91 | 2 | 0.100 | 0.072 | <0.5 | |
| 100 | 101 | 1 | 0.055 | 0.028 | <0.5 | |
| 103 | 104 | 1 | 0.112 | 0.015 | <0.5 | |
| 210 | 211 | 1 | 0.054 | 0.043 | <0.5 | |
| 216 | 216.5 | 0.5 | 0.052 | 0.03445 | <0.5 | |
| 220.8 | 222.2 | 0.8 | 0.122 | 0.6088 | 2.48 | |
| Table 2: DDH 15-934-08 | PL 934 Mace Co Galway | 2015 | ||||
| Downhole | Mo | Cu | Ag | |||
| Depth | % | % | g/t | |||
| From(m) | To (m) | Width (m) | weighted averages | |||
| 2.6 | 5.3 | 2.7 | 0.063 | 0.046 | <0.5 | |
| 17.6 | 18.2 | 0.6 | 0.046 | 0.103 | 0.54 | |
| 22 | 22.93 | 0.93 | 0.149 | 0.067 | <0.5 | |
| 25 | 26 | 1 | 0.050 | 0.022 | <0.5 | |
| 29.2 | 33.5 | 4.3 | 0.065 | 0.051 | 0.57 | |
| 36.5 | 37.88 | 1.38 | 0.620 | 0.087 | <0.5 | |
| 38.92 | 40 | 1.08 | 0.086 | 0.043 | <0.5 | |
| 42.4 | 44.6 | 2.2 | 0.076 | 0.033 | <0.5 | |
| 45.7 | 46.75 | 1.05 | 0.079 | 0.072 | 0.84 | |
| 48.8 | 49.95 | 1.15 | 0.071 | 0.052 | <0.5 | |
| 52.2 | 53.2 | 1 | 0.199 | 0.034 | <0.5 | |
| 56.03 | 57 | 0.97 | 0.053 | 0.020 | <0.5 | |
| 59 | 60 | 1 | 0.077 | 0.039 | <0.5 | |
| 70.9 | 73.26 | 2.36 | 0.372 | 0.150 | 0.51 | |
| 75.4 | 76.6 | 1.2 | 0.282 | 0.134 | <0.5 | |
| 80.8 | 82 | 1.2 | 0.199 | 0.024 | <0.5 | |
| 84 | 86.2 | 2.2 | 0.195 | 0.084 | <0.5 | |
| 90.7 | 94 | 3.3 | 0.165 | 0.053 | 0.21 | |
| 95.9 | 96.3 | 0.4 | 0.257 | 0.118 | 1.08 | |
| 98.3 | 99.25 | 0.95 | 0.123 | 0.042 | <0.5 | |
| 101.17 | 102 | 0.83 | 0.329 | 0.137 | 0.66 | |
| 102.7 | 104.34 | 1.64 | 0.100 | 0.031 | <0.5 | |
| 110.9 | 112.1 | 1.2 | 0.066 | 0.049 | <0.5 | |
| 114.5 | 115.6 | 1.1 | 0.126 | 0.069 | <0.5 | |
| 116 | 117 | 1 | 0.095 | 0.065 | <0.5 | |
| 118 | 119 | 1 | 0.080 | 0.115 | 0.8 | |
| 120 | 121 | 1 | 0.047 | 0.020 | <0.5 | |
| 123 | 124 | 1 | 0.151 | 0.050 | <0.5 | |
| 126.4 | 130.8 | 4.4 | 0.341 | 0.060 | 0.36 | including |
| 129.6 | 130.8 | 0.96 | 1.212 | 0.064 | 0.96 | |
| 138.2 | 139.7 | 1.5 | 0.110 | 0.038 | <0.5 | |
| 149.8 | 152 | 2.2 | 0.081 | 0.08 | 0.6 | |
Geological prospecting, data compilation and interpretation are continuing. Further results will be reported as received in due course.
Local stakeholder engagement is ongoing with landowners and near neighbours, to ensure that the planned exploration campaign has minimal impact on agricultural and other activities.
SLR Consulting of Dublin, Ireland www.slrconsulting.com is managing the drilling program on behalf of MOAG, including geological logging and interpretation, liaison with landowners and statutory authorities, environmental management and statutory reporting functions. Drilling is being carried out under contract by Irish Drilling Limited and geochemical analyses are being undertaken by ALS Global Laboratories, both companies based in Co. Galway.
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.
3.0On Behalf of the Board
4.0Bradley L. Jones, CPA, CA
5.0Chief Operating Officer & CFO
For further information please contact:
| Bradley L. Jones, COO & CFO (416) 510- 8397 bradley.jones@moag.ca http://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. |
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