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Resource Clips


Posts tagged ‘Murgor Resources Inc (MGR)’

Murgor reports Ontario Gold Assays including 1.47 g/t over 52m

January 20th, 2012

Resource Clips - essential news on junior gold mining and junior silver miningMurgor Resources Inc TSXV:MGR announced results from its Golden Arrow gold project, located 65 kilometres east of Timmins, Ontario. Assays include

1.44 g/t gold over 46 metres
2.2 g/t over 35 metres
1.47 g/t over 52 metres
2.11 g/t over 15 metres
7.17 g/t over 2 metres
0.75 g/t over 23 metres
1.09 g/t over 27 metres
0.85 g/t over 28.5 metres
4.09 g/t over 1.5 metres

President/CEO André Tessier remarked, “We continue to be encouraged by these results. The Main Mineralized Zone and its host structure show great continuity and width even at depth. So far, the results from our drilling continue to show potential for identifying new zones amenable to bulk underground mining in addition to the zones we have already identified as amenable to potential open-pit mining at Golden Arrow.”

View Company Profile

Contact:
André Tessier
President/CEO
613.546.7503

by Ted Niles

Murgor President André Tessier on Ontario gold assays of 1.47 g/t over 52m

November 6th, 2011

Resource Clips - essential news on junior gold mining and junior silver miningMurgor Resources Inc TSXV:MGR in joint venture with Victoria Gold Mines (East Timmins) Ltd announced assays from their Golden Arrow Project near Timmins, Ontario. Results include

1.47 g/t gold over 52 metres
(including 2.26 g/t over 18 metres)
9.95 g/t over 7 metres
(including 25.65 g/t over 2 metres)
1.48 g/t over 33 metres
(including 2.51 g/t over 14 metres)
6.46 g/t over 6 metres
34.9 g/t over 1 metre
1 g/t over 22 metres
(including 1.39 g/t over 9 metres)

Golden Arrow is a former open pit mine that produced 279,593 tonnes grading 2.09 g/t gold between 1981 and early 1983.

President/CEO André Tessier tells ResourceClips.com, “We’ve taken a different approach with our drilling lately. In our first phase of drilling, in 2010 to 2011, we were trying to gain a better understanding of the deposit itself, so we were drilling at fairly close centres. We felt we gained enough knowledge of the geometry of the currently known mineralization immediately underneath the pit, and we decided to see whether this thing had any legs. So in the second phase of drilling, which we just finished, we’ve been drilling at 325 metres vertical. We’re testing this thing at depth, and so far we’ve been happy with the results.

There’s six mills within a 70-kilometre radius. We’ve got two good neighbours there in St Andrew [TSX:SAS] and Brigus [TSX:BRD], and these guys might be looking at purchasing some resources down the road—André Tessier

“We’ve done about 9,300 metres of drilling so far and phase 3, which we’ve just started, looks like it’ll be about 6,400 metres. We’ve just added a second rig. It takes so long to get geochemical results and assays that we decided to accelerate things. With a second rig on the property we’ll probably go through our earn-in expenditures fairly quickly. At this point we’re early in the earn-in. We’ve got another year to go to earn the first 55% of the interest.”

“We’re fully permitted for a 100,000-tonne bulk sample. Right now the limiting factor is finding a mill,” he adds.

“It’s a bit early to talk about a resource estimate. We were just visiting the Young-Davidson Mine [AuRico Gold Inc TSX:AUQ], they gave us a great tour over there. We see a lot of parallels between the two deposits. They told us that to outline their ore body they needed about 100,000 metres of drilling. We don’t want to put out a resource estimate unless we have a truly economically viable deposit. Right now, I think we probably have a small mine, but we want a big one.

“We have terrific infrastructure in the region. There’s six mills within a 70-kilometre radius. We’ve got two good neighbours there in St Andrew [TSX:SAS] and Brigus [TSX:BRD], and these guys might be looking at purchasing some resources down the road,” Tessier says.

“We have two deposits in Manitoba, the Wim and the Hudvan. We acquired those from HudBay Minerals [TSX:HBM]. HudBay has until September 2012 to decide whether to buy back a percentage of that resource. So we’re in a waiting stage in Manitoba, but we’ve got our hands full in Timmins. That’s fine with us.

“As for the Waconichi Project in Chibougamau, we’re hoping to drill before the end of the year. The limiting factor is getting a drill. They’re very, very busy. But we’re working on it,” he says.

Tessier concludes, “The markets aren’t recognizing the true value of our assets, but eventually they will. So we’ll keep trucking along.”

View Company Profile

Contact:
André C. Tessier
President/CEO
613.546.7503
888.891.3330

by Greg Klein

Murgor reports Ontario Gold Results of 1.47 g/t over 52m

November 3rd, 2011

Resource Clips - essential news on junior gold mining and junior silver miningMurgor Resources Inc TSXV:MGR in joint venture with Victoria Gold Mines (East Timmins) Ltd announced assays from their Golden Arrow Project near Timmins, Ontario. Results include

1.47 g/t gold over 52 metres
(including 2.26 g/t over 18 metres)
9.95 g/t over 7 metres
(including 25.65 g/t over 2 metres)
1.48 g/t over 33 metres
(including 2.51 g/t over 14 metres)
6.46 g/t over 6 metres
34.9 g/t over 1 metre
1 g/t over 22 metres
(including 1.39 g/t over 9 metres)

Golden Arrow is a former open pit mine that produced 279,593 tonnes grading 2.09 g/t gold between 1981 and early 1983.

President/CEO André Tessier tells ResourceClips.com, “We’ve taken a different approach with our drilling lately. In our first phase of drilling, in 2010 to 2011, we were trying to gain a better understanding of the deposit itself, so we were drilling at fairly close centres. We felt we gained enough knowledge of the geometry of the currently known mineralization immediately underneath the pit, and we decided to see whether this thing had any legs. So in the second phase of drilling, which we just finished, we’ve been drilling at 325 metres vertical. We’re testing this thing at depth, and so far we’ve been happy with the results.

There’s six mills within a 70-kilometre radius. We’ve got two good neighbours there in St Andrew [TSX:SAS] and Brigus [TSX:BRD], and these guys might be looking at purchasing some resources down the road—André Tessier

“We’ve done about 9,300 metres of drilling so far and phase 3, which we’ve just started, looks like it’ll be about 6,400 metres. We’ve just added a second rig. It takes so long to get geochemical results and assays that we decided to accelerate things. With a second rig on the property we’ll probably go through our earn-in expenditures fairly quickly. At this point we’re early in the earn-in. We’ve got another year to go to earn the first 55% of the interest.”

“We’re fully permitted for a 100,000-tonne bulk sample. Right now the limiting factor is finding a mill,” he adds.

“It’s a bit early to talk about a resource estimate. We were just visiting the Young-Davidson Mine [AuRico Gold Inc TSX:AUQ], they gave us a great tour over there. We see a lot of parallels between the two deposits. They told us that to outline their ore body they needed about 100,000 metres of drilling. We don’t want to put out a resource estimate unless we have a truly economically viable deposit. Right now, I think we probably have a small mine, but we want a big one.

“We have terrific infrastructure in the region. There’s six mills within a 70-kilometre radius. We’ve got two good neighbours there in St Andrew [TSX:SAS] and Brigus [TSX:BRD], and these guys might be looking at purchasing some resources down the road,” Tessier says.

“We have two deposits in Manitoba, the Wim and the Hudvan. We acquired those from HudBay Minerals [TSX:HBM]. HudBay has until September 2012 to decide whether to buy back a percentage of that resource. So we’re in a waiting stage in Manitoba, but we’ve got our hands full in Timmins. That’s fine with us.

“As for the Waconichi Project in Chibougamau, we’re hoping to drill before the end of the year. The limiting factor is getting a drill. They’re very, very busy. But we’re working on it,” he says.

Tessier concludes, “The markets aren’t recognizing the true value of our assets, but eventually they will. So we’ll keep trucking along.”

View Company Profile

Contact:
André C. Tessier
President/CEO
613.546.7503
888.891.3330

by Greg Klein

Murgor reports Ontario Assays up to 1.47 g/t Gold over 52m

October 7th, 2011

Resource Clips - essential news on junior gold mining and junior silver miningMurgor Resources Inc TSXV:MGR announced results from its Golden Arrow Project near Timmins, Ontario. Highlights include

1.47 g/t gold over 52 metres
(including 2.26 g/t over 18 metres)
9.95 g/t over 7 metres
(including 25.65 g/t over 2 metres)
1.48 g/t over 33 metres
(including 2.51 g/t over 14 metres)
34.9 g/t over 1 metre
1 g/t over 22 metres
(including 1.39 g/t over 9 metres)

President/CEO André Tessier commented, “Hitting economic-grade mineralization in our first four drill holes on two new structures, not to mention having our first deep drill hole at the property return wide intercepts of mineralization, has exceeded our expectations. So far, the results from our second phase of drilling shows potential for identifying new zones amenable to bulk underground mining in addition to the zones we have already identified as amenable to potential open-pit mining at Golden Arrow. Drilling continues on our flagship property and we are eagerly awaiting assays for another four drill holes.”

View Company Profile

Contact:
André C. Tessier
President/CEO
613.546.7503
888.891.3330

by Greg Klein

Murgor President André Tessier on Ontario gold assays of 1.16 g/t over 118m

June 9th, 2011

“The Golden Arrow project is about 55 kilometres east of Timmins, just south of the town of Matheson. It’s a project that was in operation for two years in 1981 and 1982. They mined a small open pit there, but they quit operations when the price of gold just didn’t allow them to make any money. Since then it’s been privately owned, and we’ve negotiated with the private company in Timmins, Victoria Gold Mines, to actually get in there, find some ore and hopefully be mining it again in the near future. Victoria Gold Mines owns the rights to the property, so we’re now in the earn-in phase of the option agreement.

“The recent results are showing a great, great width, and we’re dealing with hundred-metre-wide ore intercepts and near-surface 50-to-175 metres vertical depth right underneath the current infrastructure. So, especially with the current metal prices, I think there’s potentially open-pit mining and underground mining as well.

“This is an advanced exploration play. The drilling on the property dates from the 1940s, and we have to basically drill it all over again. So far, we’ve got almost 5,000 metres drilled ourselves. We’re going into a new drilling phase, and we’re going to go 5,000 metres at a time. By the end of the year, we’ll probably be looking at anywhere between 5,000 and 10,000 metres of new drilling.

“The deepest drill hole on the property was intercepted about 150 metres vertical, and so far we’ve got two kilometres of that structure to be tested. It’s a bit premature to be talking about resource estimates now, but we’ll probably be looking more into that near the end of 2011.

“The project is permitted for a bulk sample of 100,000 tonnes as it is. Should we prove more resources I think we probably would be teaming up with a contract mining operation and we’d work the property that way. Of course there are some mills in the area that are underutilized and we’re hoping to send our ore to those mills.

“We’re looking at lots and lots of drilling over the next few years to prove more and more resource. The deposits have a striking resemblance to the Young-Davidson mine that’s held by Northgate south of us, although that deposit is obviously much larger with about 2.8 million ounces [of contained gold].”

View Press Release Summary

View Company Profile

Murgor reports Ontario Gold Assays as high as 2.64 g/t over 59m

April 25th, 2011

Murgor Resources Inc TSXV:MGR announced drill results from its Golden Arrow Gold Project east of Timmins, Ontario. Highlights include 2.64 g/t gold over 59 metres (including 3.21 g/t over 31.2 metres), 2.18 g/t over 55 metres (including 5.75 g/t over 7 metres), 2 g/t over 22 metres and 2.11 g/t over 26 metres (including 4.62 g/t over 6 metres).

President/CEO André Tessier said, “Our drill program continues to show the continuity of the gold zone with consistent gold grades and thicknesses. We continue to be very pleased with these great results as more gold ounces are being defined adjacent to the current open pit. This is excellent news as gold prices rally above the $1,500 per ounce mark. The drill program is progressing well and we expect a continuous flow of results beyond the summer of 2011.”

View Company Profile

Contact:
André C. Tessier
President/CEO
613.546.7503

by Ted Niles

Murgor reports Ontario Assays up to 2.56 g/t over 40m

April 7th, 2011

Murgor Resources Inc TSXV:MGR announced results from its Golden Arrow Gold Project in Ontario. Assays include 2.56 g/t gold over 40 metres (including 3.26 g/t over 23 metres), 1.89 g/t over 46 metres (including 2.04 g/t over 29 metres), 3.79 g/t over 8 metres, 3.12 g/t over 22 metres and 4.17 g/t over 15 metres.

President/CEO André Tessier commented, “We’re very encouraged by these results. The gold zones are continuous and consistently mineralized. Our intercepts continue to be on average three times wider and at slightly better grades than those reported by Pamour in the early eighties. Drilling continues and we’re expecting more results very shortly.”

View Company Profile

Contact:
André C. Tessier
President/CEO
613.546.7503

by Ted Niles

Murgor reports Ontario Gold Assays up to 2.04 g/t over 47m

February 10th, 2011

Murgor Resources Inc TSXV:MGR announced results from its Golden Arrow Gold Project east of Timmins, Ontario. Assays include 1.71 g/t gold over 31 metres, 1.63 g/t over 31 metres, 2.41 g/t over 43 metres, 2.64 g/t over 59 metres, 2.04 g/t over 47 metres, 1.7 g/t over 35.5 metres, 3.37 g/t over 14 metres and 2.88 g/t over 4 metres.

President/CEO André Tessier commented, “Murgor’s due diligence work is now completed and the initial drill results reinforce Murgor’s objective to become a near-term gold producer at Golden Arrow. As announced, Murgor and Victoria have now signed the option agreement for the Golden Arrow Mine, and an initial 5,000-metre drill program is scheduled to start this month.”

View Company Profile

Contact:
André C. Tessier
President/CEO
613.546.7503

by Ted Niles