Kingston, Ontario, February 09, 2010 – Murgor Resources Inc. (MGR: TSX-V) announces the start of a drilling program at its 100% owned Wim Extension copper-gold property in Snow-Lake Manitoba.
Murgor is starting a 1,750 meter drilling program this week at the Wim Extension property to test a minimum of five high-priority VTEM targets outlined in 2008 and 2009 (VTEM is a helicopter-borne, high resolution, electromagnetic geophysical survey). All targets consist of good conductors, locally coincident with magnetic highs and occurring at depths below historical geophysical coverage. None of the targets have ever been drill-tested. Two of the anomalies occur on the mineralized horizon which hosts the Wim copper-gold deposit (also 100% Murgor owned).
These are very intriguing geophysical anomalies occurring in a highly prospective geological environment. All targets show characteristics equal or better than the anomaly coinciding with the Wim deposit. We are looking forward to seeing the drill core, said André C. Tessier, President and CEO of Murgor Resources.
About the Wim Extension Property:
Murgor acquired a 100% interest in the Wim Extension property through staking in 2007-2009. The property consists of 15 claims covering a total of 24.6 square kilometers. The Wim Extension property surrounds the Wim Deposit Property where Murgor also owns a 100% interest and HudBay Minerals owns a right of buyback of up to 65%. Both properties are located only 16 kilometers north of the Town of Snow Lake Manitoba where HudBay owns an operating mill that will be upgraded to treat the mineralization from the Lalor Lake Mine. The close proximity of the Wim deposit to existing infrastructure, combined with the shallow depth of the mineralization would allow for a quick development of the project with minimal capital expenditure and environmental footprint.
In the past three years, Murgor increased the tonnage at Wim by a factor of 130% including a 60% increase in the contained copper and a 170% increase in the contained ounces of gold (based on a 2.0% copper equivalent cut-off grade). Furthermore more than 85% of the mineral resource has been upgraded to the Indicated category.
Metallurgical testing of the mineralization at the Wim deposit, showed that copper recoveries of 92% are achieved, producing a final high-grade copper concentrate averaging 32.6% copper.
The most recent 43-101 compliant resource estimate at the Wim deposit was announced by Murgor in a press release dated September 09, 2008 and the complete report is available at www.murgor.com. Current mineral resource at Wim is as follows:
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.
André C. Tessier, P.Eng (Qc), P.Geo and President of Murgor Resources, is a Qualified Persons, as defined by NI-43-101 and is responsible for this news release and the technical information it contains.
André C. Tessier, President & CEO
MURGOR RESOURCES INC.
Tel: (613) 546-7503 or 1-888-891-3330
Fax: (613) 546-7318
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