KINGSTON, ON, Sept. 16 /CNW Telbec/ -- Murgor Resources Inc. (MGR: TSX-V) today announced that its exploration partner, Metanor Resources Inc. (MTO: TSX.V), intersected a new gold-bearing shear zone at its Nelligan Gold Property in north-western Quebec.
As reported in Metanor's press release today, drill hole NE-09-02 returned assays of 28.06 g/t gold over 4.54 meters (uncut) or 6.61 g/t Au over 4.54 meters (cut to 1 oz/t), including a section of 234 g/t Au over 0.5 meter. The drill hole was collared within the shear zone and therefore the intersection started from surface. Results from all other drill holes are pending.
"This is a very exciting and promising new discovery at Nelligan for both companies," said André Tessier, President and CEO of Murgor Resources. "We are looking forward to receiving the results from Metanor's remaining drill holes."
The Nelligan property consists of 58 claims covering approximately 2,895 ha, located immediately west of the Bachelor Lake Gold Mine property and approximately 8 kilometers southwest of the Town of Desmaraisville. Murgor first discovered gold mineralization on the Billy claims at Nelligan in 2006 during a mechanical trenching program which uncovered a NE-trending shear zone from which three channel samples returned 124 g/t Au over 2.53 metres (including a 53 cm section grading 582 g/t Au), 2.82 g/t Au over 1.19 metres and 2.65 g/t Au over 1.07 metres (see press release dated December 14, 2006).
Results obtained at the property so far, confirm the potential for new gold mineralization in the NE-trending deformation corridor west of the Bachelor Gold Mine. The gold zone on the Billy claims is located 5km SW of the Bachelor Gold Mine while the newly discovered gold bearing zone is located on the Valley claims and is situated approximately 10 Km SW of the Bachelor mine.
The true width of the intersection reported above is approximately 80 to 90% of the core length obtained in diamond drill holes. Analyses were performed by fire assay at the Bachelor Mine laboratory, Quebec.
Metanor is currently in the earn-in phase of an option agreement with Murgor, at the Nelligan Gold Property whereby Metanor can earn an interest of up to 70% in the property by August 29, 2010 (see press release of September 6th, 2007).
Mr. André Tremblay, P Eng. is a Qualified Person as defined by NI-43-101 and supervised the technical information presented in the news release. André C. Tessier, P.Geo, P.Eng and President of Murgor Resources is a Qualified Person as defined by NI-43-101 and reviewed the technical information presented in this press release.
About Murgor Resources
Murgor Resources Inc. is a mineral exploration and development company focused on copper, zinc and gold deposits. The company is earning a 100% interest in three deposits, adjacent to the Snow Lake and Flin Flon mining districts of Manitoba, from HudBay Minerals Inc. (TSX:HBM). Murgor is also exploring an exceptional portfolio of gold properties in proven mining districts of Canada, owns a 1% NSR royalty in the Barry Gold Mine and an interest in the advanced Windfall Gold Project in Quebec.
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.
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that term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.