October 28, 2019 (Toronto, Ontario): Murchison Minerals Ltd. (“Murchison” or the “Company”) (TSXV: MUR) is pleased to announce it has identified twelve (12) priority drill targets as a result of its exploration and prospecting activities completed over the past twelve months at Brabant Lake, Saskatchewan. Murchison currently has one VMS orebody which remains open to expansion and now twelve additional high-priority drill targets. In addition, the second half of the 324-km2 land package held by Murchison has yet to be systematically explored.
A total of 30 distinct EM/Mag conductors were identified by the VTEM airborne survey completed in January 2019. Twelve targets, all of which have similarities to the Brabant-McKenzie VMS deposit (the “Deposit”), were identified as priority drill targets. Six (6) of those are found along a 12 km-long trend interpreted as being the same geological horizon that hosts the Brabant-McKenzie deposit.
The selection of these priority targets is based on ground and airborne geophysical and geological data and ground prospecting results. A thirteen (13)-hole, 3,600-metre drill program is proposed to test these targets. The location of these targets is shown on Figures 1, 2, 3, 4, 5 and 6.
The Brabant-McKenzie VMS deposit has an NI 43-101 resources of:
- Indicated – 2.1 million tonnes at 7.08% zinc, 0.69% copper, 0.49% lead, 39.60 g/t silver or 9.98% zinc equivalent
- Inferred – 7.6 million tonnes at 4.45% zinc, 0.57% copper, 0.19% lead, 18.40 g/t silver or 6.29% zinc equivalent
Table 1. Priority Drill Targets
|2||Min Showing North|
|10||Pete’s Point South|
Additional technical information and detailed description of these targets is posted on our website:www.murchisonminerals.com under our asset section. Here is the link to the Drill Targets Geophysical Description
The foregoing scientific and technical disclosures have been reviewed by Ehsan Salmabadi, P. Geo., and Martin St-Pierre, P. Geoph., qualified persons as defined by National Instrument 43-101. Mr. Salmabadi and Mr. St-Pierre are independent consultants to Murchison and the Brabant Lake project.
About the Brabant Lake Project
The Brabant Lake project is located 175 kilometres northeast of La Ronge, Saskatchewan and approximately three kilometres from the community of Brabant Lake. The area is accessed year-round via provincial Highway 102 and is serviced by grid power. The project consists of one mining lease, which hosts the Brabant-McKenzie VMS deposit, and additional mineral claims totalling 324 square kilometres, which cover approximately 38 kilometres of strike length over favourable geological horizons, multiple known mineralized showings and identified geophysical conductors.
About Murchison Minerals Ltd. (TSXV: MUR)
Murchison is a Canadian-based exploration company focused on the exploration and development of the 100% owned Brabant Lake zinc-copper-silver project in north-central Saskatchewan. The Company also has a 100% interest in the HPM nickel-copper-cobalt project in Quebec. Murchison currently has 48.4 million shares issued and outstanding.
Additional information about Murchison and its exploration projects can be found on the Company’s website at www.murchisonminerals.com. For further information, please contact:
Jean-Charles (JC) Potvin, President and CEO
Erik H Martin, CFO
Tel: (416) 350-3776
Certain information set forth in this news release may contain forward-looking information that involves substantial known and unknown risks and uncertainties. This forward-looking information is subject to numerous risks and uncertainties, certain of which are beyond the control of the Company, including, but not limited to, the impact of general economic conditions, industry conditions, and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking information. The parties undertake no obligation to update forward-looking information except as otherwise may be required by applicable securities law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.