Welcome to Murgor’s new website! A lot of work has gone into this new website to better reflect the new Murgor and to provide you with all the important information about the Corporation. A few sections are still being fine tuned but we felt it was essential to provide you with the information that we have already compiled. One important element of the Murgor website is to provide you with a monthly “President’s Newsletter”. This is the first! This newsletter will provide you with an update of Murgor’s progress in the field and it will also be sent out to our e-mailing list. If you are not on the e-mailing list, sign up on our website and you will also receive notification of press releases.
Ask any analyst, broker or astute investor and they will tell you: the potential success of a mineral exploration company is dependent on the quality of its People and Projects, and the health of its Finances. This new website will give you all this information and much more. Although the largest part of the website is devoted to Murgor’s outstanding projects in the Flin Flon belt of Manitoba and Saskatchewan, other aspects of the Company are incorporated into this new website such as:
- Murgor’s Directors, Management Team and Field Personnel,
- Murgor’s Corporate Structure,
- Murgor’s Mission and Strategy,
- The latest news about Murgor, and
- Murgor’s Code of Ethics and Conduct.
You are invited to browse and get all the information you need or want about the Company. As good as we feel about this new website, however, it remains a work in progress, so please do not hesitate to contact us with your suggestions. More important, make sure you enlist to receive via email, all the latest information from Murgor as soon as it gets out.
For this first newsletter, I would like to describe Murgor’s goals and milestones for the next few years and summarize the work currently underway within Murgor’s 2007 exploration program.
MURGOR’S MISSION:
In 2005, Management at Murgor adopted Murgor’s Mission: “To generate revenues by growing into a producer for year 2009”. The Murgor Strategy was also adopted to achieve this goal for the Corporation: “To acquire mineral properties with historical resources that management feels can be improved upon, while continuing to explore high potential grassroots properties.” It is obvious by now that Murgor seized The Opportunity in the fall of 2006 by acquiring a number of properties from HudBay Minerals Inc. HudBay Minerals Inc. is one of the fastest growing producers in Canada and the world with a strong presence in the Flin Flon belt of Manitoba and Saskatchewan. The Flin Flon belt is one of the richest areas in the world for volcanogenic massive sulphide (VMS) deposits. Targeting VMS deposits also allowed Murgor to diversify into a polymetallic explorer (copper-zinc-gold and silver). The potential for success in this area is underscored by not only world class VMS deposits but also a favourable political regime and market influences. The Fraser Institute, an independent research organization that measures the impact of competitive markets and government intervention, has designated Manitoba as the best place to explore in the world.
ACHIEVING MURGOR’S MISSION:
Murgor will achieve its goals by concurrently exploring all of its properties in the Flin Flon Belt and accelerating its work commitments on the HudBay properties.
Murgor is now on-track for the following timeline:
- Murgor will earn a 100% interest and will complete a feasibility study on the Hudvam deposit by the end of 2008. The Company is putting the emphasis on the Hudvam deposit, because it is already at the early stages of development, with a 312 metre ramp that would allow Murgor to quickly bring the deposit into production.
- Murgor will earn a 100% interest in the Wim property by the end of 2008 and will complete a feasibility of the deposit by mid-2009. Management feels it is important to accelerate the development of the Wim deposit to take advantage of the availability at the Snow Lake mill for processing of its copper ore.
- Murgor will earn a 100% interest in the Fon property and will complete a new 43-101 resource estimate by the end of 2009. The Fon deposit is third on the agenda as the multi-lens deposit will necessitate more drilling and more time to define.
EXPLORATION ACTIVITIES SINCE JANUARY 2007:
As promised, Murgor has been extremely busy in the field since January of 2007 and the Corporation has exceeded all the milestones it had set out to do in the Flin Flon Belt of Manitoba and Saskatchewan. Murgor’s most significant achievement has probably been to deliver NI 43-101 compliant resource estimates on all of its deposits. The inferred resource is listed below:
TABLE OF MURGOR’S CURRENT NI 43-101 RESOURCE
The Company has also been exploring all six of its exploration projects in Manitoba and Saskatchewan (Hudvam, Fon, Wim, Tyr, Flin-D and Snow-H) and here is a summary of the exploration work that was carried-out:
- Murgor completed 775 line kilometres of line cutting,
- Murgor completed 582 line kilometres of ground magnetic surveys,
- Murgor completed 350 line kilometres of ground electro-magnetic InfiniTEM surveys,
- Murgor completed 4,100 line-kilometres of helicopter-borne electro-magnetic VTEM surveys,
- Murgor completed 32 drill holes, for a total of 7,775 metres at the Hudvam and Fon deposits.
EXPLORATION ACTIVITIES UNDERWAY:
During the summer of 2007, Murgor was working with several prospecting and geological field crews to verify (where possible) the surface expression of the many geophysical anomalies detected by the VTEM and InfiniTEM surveys carried-out from January to March 2007. Certain SpectrEM anomalies were also verified. SpectrEM is a Fixed Wing Airborne EM Geophysical method that was developed by Anglo American and that was applied on all of HudBay’s (or HudBay’s predecessor: Hudson Bay Exploration and Development) exploration properties in the mid-1990s. Results of this exploration program are all pending.
At the end of August 2007, Murgor started a preliminary phase of drilling at the Wim property in northern Manitoba. This initial drilling consists of a minimum program of 5,500 metres in ten drill holes. This program is part of a more extensive drilling program that will start in early 2008 with an additional drill. Winter is the ideal time, and sometimes the only time, to drill in the Flin Flon belt due to frozen ground conditions. There are two main objectives to the drilling program
- Initiate definition drilling of the Wim copper-gold deposit
This part of the program is designed to verify historical data by duplicating drill holes, and to verify the continuity of the mineralization by drilling infill holes on the existing ore lens. Ultimately, the objective of this part of the drilling program is to upgrade the copper-gold resource at Wim to Indicated and Measured categories, leading to a new NI 43-101 resource estimate and a feasibility study.
- Expand the existing copper-gold resource at Wim
The expansion of the existing copper-gold resource at Wim will be achieved by testing extensions of the ore lens and by testing high priority geological and geophysical targets on the property (see targets at the Wim property in the “Projects” section of this website).
IN CLOSING:
Although, the whole market suffered a bit of a setback with the latest market correction in August, the entire mining sector is still buzzing with activity and Murgor is happy to be buzzing along with it. The end of 2007 and the beginning of 2008 will be a period of excitement and potential for Murgor as we meet our milestones.
Please take full advantage of this new website! Murgor has much to offer with an experienced group of People, an outstandingly promising portfolio of Projects and a healthy financial position. Stay tuned so you don’t miss a beat!
Respectfully submitted,
André C. Tessier, P.Eng, P.Geo
President, CEO
September 01, 2007.
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.
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