Welcome to the March 2008 edition of Murgor’s Monthly newsletter. This newsletter provides a summary of Murgor’s key exploration activities and management decisions that have taken place during the month of February 2008. An update on upcoming activities is also provided.
EXPLORATION ACTIVITIES:
Field work continued at a very fast pace in February of 2008, in the Manitoba and Saskatchewan portions of the Flin Flon belt. The five drills continued turning at the Hudvam and Wim deposits on definition, infill, metallurgical and geotechnical drill holes. At Hudvam, a total of 21 drill holes were completed for a total of 4,535 metres, whereas 28 drill holes were completed at Wim for a total of 4,590 metres. Since January of 2008, Murgor completed 63 drill holes for a total of 14,713 metres. At the Flin-D project, ground geophysics was completed in the Gifford Bay area. At the Fon property, a geological compilation of the Fon deposit was completed and led to a new interpretation of the Brown lense (see Press Release dated February 28, 2008). Whereas at the Fon, Tyr, Snow-H and Flin-D properties, geophysical modelling and target selection work continued in preparation for drilling in March and April of 2008.
WIM PROPERTY:
Drilling continued at Wim with two drill rigs for the whole month. So far in 2008, Murgor has completed 38 drill holes for a total of 8,056 metres. This includes two drill holes that were abandoned due to excessive deviation. So far, drilling was aimed at definition and infill drilling of the upper portion of the ore lens, but metallurgical drilling was also completed. Geotechnical drilling is presently being carried-out for rock mechanics and ground water studies. Exploration drilling at the property-scale, is scheduled to start in early March. All results from this recent phase of drilling are pending and will be distributed as they become available after passing Murgor’s QA/QC procedure.
Meanwhile, the Company and its consultants at Golder Associates continued work towards the pre-feasibility at Wim.
Drilling close to camp at Wim.
HUDVAM PROPERTY:
Drilling continued at the Hudvam property with three drill rigs for the whole month. So far in 2008, Murgor has completed 25 drill holes for a total of 6,57 metres. The bulk of the drilling so far has been directed at extensions to the current ore lenses and infill drilling within lens #1 to upgrade the Copper-Gold-Zinc resource at Hudvam to the indicated and measured category. At the end of February, approximately 1,600 metres of drilling was still required to complete infill and definition drilling. Metallurgical and geotechnical drilling was also completed this month. All results from this recent phase of drilling are pending and will be distributed as they become available after passing Murgor’s QA/QC procedure.
Meanwhile, the Company and its consultants at Golder Associates continued to work towards the pre-feasibility at Hudvam.
Drilling on Vamp Lake at the Hudvam camp.
FLIN-D PROJECT:
Detailed exploration work is underway over the Gifford Bay area of Kakinagamak Lake, in the north-western part of the Flin-D project area. Over 20 kilometres of line cutting was completed in January of 2008 and a ground Pulse EM survey was completed in February over a prospective area outlined through compilation and field work during the summer of 2007. The area covers a new alteration zone with mineralization that was discovered on the shores of Gifford Bay with a strike length of nearly 1,000 metres along with massive sulphide mineralization occurrences returning over 1.52% copper in grab samples. An old drill hole is also reported in the area, which returned 1.32% zinc and 0.38% copper over 0.93 metres.
Results of this geophysical survey are pending but preliminary results confirm the presence of a conductor within the altered area and on strike from the copper occurrences discovered in the summer of 2007. The targets will be drill tested in March-April 2008.
FON PROPERTY:
The exciting results of a detailed data compilation and new structural interpretation of the Fon deposit were released on February 28, 2008. The study outlines a thick mineralized zone lying between surface and 150 metres depth, with a strike length of 250 metres and an average width of 45 metres.
This new interpretation outlines a mineralized zone that would be amenable to open pit mining, with a potential ranging from
1,200,000 tons to 3,900,000 tons at an average grade of
2.1% Zn (ranging from 1.4% Zn to 3.6% Zn) and yielding a potential
51,300,000 to 162,200,000 pounds of Zinc.
This near-surface zone would increase the zinc resource at the Fon deposit, by adding a low-grade component to the already defined resource.
The potential quantities and grades are based on 21 drill holes and a measured density of 3.08 g/cubic centimetre. The target mineralized zone is up to 250 metres long, has an average width of 45 metres and a depth of up to 150 metres from surface. The geological target consists of a previously unrecognized doubly plunging fold hinge that reaches surface between sections 2950E and 3150E.
Murgor is very excited about this new development and is looking forward to carry-out work to validate this new interpretation.
IN CLOSING:
In January 2007, Murgor launched a very ambitious exploration program in the Flin Flon belt of Manitoba and Saskatchewan. The pace has not slowed down ever since and as a result, Murgor has fulfilled its exploration obligation with HudBay 13 months after starting to explore the belt at Hudvam and at Wim.
Less than a year after starting the exploration work at these properties, Murgor started pre-feasibility studies at two deposits in Manitoba while continuing to explore the belt and its four other properties in Manitoba and Saskatchewan. So far, Murgor’s exploration team has achieved all the exploration milestones set by management in 2007 and 2008.
The Company’s exploration activities in the first months of 2008 are just an indication of how much more work will be achieved this year by our technical team. Moreover, during the first week of March 2008, one helicopter supported rig will start drilling the exploration targets generated in 2007, and the whole Murgor team is very enthusiastic about this new phase of exploration.
Results are forthcoming on the drilling programs at Wim and Hudvam and will be supplemented in late March, by this new phase of exploration at the Fon, Tyr, Flin-D and Snow-H projects in the very near future.
Please keep logging on to
www.murgor.com for more up to date details on the Corporation.
Thank you for your interest in Murgor Resources and for your continued support.
Respectfully submitted,
André C. Tessier, P.Eng, P.Geo
President, CEO
March 05, 2008.
This newsletter includes certain "forward-looking statements". All statements other than statements of historical fact, included in this newsletter, 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.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this press release.
