Murchison Minerals Discovers Multiple New Mineralized Showings at HPM and Identifies Beep Mat anomaly 120 m Along Strike to the Southwest of the BDF Zone
October 5th, 2022 (Burlington, Ontario): Murchison Minerals Ltd. (“Murchison” or the “Company”) (TSXV: MUR OTCQB: MURMF) is pleased to announce the preliminary results of the prospecting Phase of the 2022 summer exploration program on the 100% - owned HPM (Haut-Plateau de la Manicouagan) Project, located in Quebec.
The prospecting program successfully completed its two main objectives:
- Locating and expanding areas of surface mineralization at previously identified zones and showings at HPM, de-risking areas for future exploration.
- Discovering new regional showings of sulphide mineralization throughout the HPM project area.
For the regional prospecting program, due to the high number of identified EM anomalies (over 75), the Company focused prospecting mainly on those anomalies identified during the 2021 VTEM survey. This scope covered only a localized portion of the total 648 km2 area that makes up the HPM project.
Highlights
• Intersected semi-massive sulphide mineralization at the Taureau showing (Figure 1).
• At Barre de Fer (BDF Zone), the strike length of the prospective airborne electromagnetic (EM) anomaly was expanded to approximately 600 m.
• Located disseminated sulphide mineralization, coincident with an adjacent Beep Mat anomaly, outcropping 120 m along strike to the southwest of the BDF Zone.
• Expanded surface sulphide mineralization at Syrah contiguously from 375 m to approximately 780 m through “beep mat” surveying and backpack drill sampling.
Figure 1: Semi-massive sulphide mineralization observed in backpack drill core at Taureau showing.
”“The 2022 summer prospecting program at the HPM project did exactly what it set out to do: discover and de-risk new areas of sulphide mineralization for future exploration. The program has further demonstrated the district-scale nickel-bearing sulphide potential of HPM. As the world transitions away from fossil fuels, the discovery of Class I nickel, needed to produce batteries, becomes ever more critical. The 2022 program has just scratched the surface at HPM, and what we are finding has us very excited about exploring in an emerging nickel district in Canada.”
Troy BoisjoliMurchison Minerals President and CEO
”“The sheer number of Ni-Cu-Co bearing sulphide showings discovered on surface at HPM property to date is simply remarkable. We are seeing a distribution of various mafic and ultramafic rock types associated with sulphide mineralization – typical of many producing nickel jurisdictions – which speaks to the scope and scale of the magmatic mineralizing systems present within the intrusive complex that makes up HPM. Based on the newly discovered showings as well as the additional high-priority EM targets recently identified by the 2022 VTEM survey, the team is extremely encouraged for future exploration programs at HPM.”
John ShmyrMurchison Minerals Vice-President of Exploration
New Showings
Numerous new showings of sulphide mineralization were discovered throughout the course of the summer 2022 prospecting program. The most notable of the new discoveries are: Taureau, Loup and Orignal showings (Figure 3). The Taureau showing consists of a beep mat anomaly correlated with a strong airborne EM anomaly, approximately 3.4 km East of the BDF Zone. High beep mat readings in multiple locations were mapped over a 210 m area and was tested with 3 backpack drill holes. The mineralization consists of semi-massive to stringer-type sulphide mineralization (Figure 1). XRF readings confirm the presence of Ni mineralization, assays are pending.
Figure 2: Closeup of mineralization in backpack core from the Taureau showing with semi-massive sulphide (pyrrhotite and chalcopyrite) mineralization.
The Loup showing consists of blebs of sulphide mineralization hosted within actinolite-magnetite breccia located adjacent to strong prospective airborne EM anomalies. XRF readings confirms the presence of anomalously high values of copper and cobalt discovered within the backpack drill holes, assays are pending. The correlation of mineralization adjacent to prospective EM anomalies significantly elevates the prospectivity of the correlating geophysical anomalies as future exploration targets.
The Orignal target is an area with multiple, complex, and strong airborne EM anomalies. The area hosts multiple mafic intrusive rock types (similar to those rock types hosting mineralization within the HPM project area) and pyrrhotite mineralization has been discovered in multiple locations. The mineralization discovered does not explain the most prospective EM conductors in the area. However, it is encouraging as the correlation with sulphide mineralization indicates the area has the potential to host more significant sulphide mineralization at depth. The most prospective anomalies at Orignal remain unexplored.
Figure 3: 2022 Prospecting Locations with 2021 and 2022 Airborne Geophysical Data.
BDF, Syrah, and Malbec
The prospecting teams were successful in further defining surface mineralization at BDF in multiple locations (Figure 7). The mineralization on surface consists of massive, semi-massive and stringer-type sulphide mineralization (Figure 4 and 5), assays are pending. Disseminated mineralization was also identified in an outcrop approximately 120 m along strike to the southwest of the BDF Zone, assay from a grab sample is pending. Additionally, a strong beep mat anomaly was identified 40 m northeast from the disseminated sulphide sample. Furthermore, the prospective EM anomaly at BDF has expanded to a strike length of 600 m based on the preliminary 2022 VTEM survey. The BDF Zone was re-flown in 2022 in an east-west survey orientation from the previous north-south orientation.
The mineralized footprint at Syrah has now been traced over 780 m, with areas of sulphide mineralization having been located to the northeast and southwest. Additionally, at Malbec sulphide mineralization was identified in grab samples (Figure 6), backpack drillholes, and beep mat anomaly that been traced over approximately 775 m.
Figure 4: Massive sulphide intersected at surface by backpack drill hole within the BDF zone.
Figure 5: Closeup of mineralization intersected by backpack drill hole within the BDF zone.
Figure 6: Sulphide mineralization identified in grab sample at Malbec showing.
Figure 7: 2022 prospecting and “beep mat” surface conductivity mapping at Barre de Fer & Syrah showings.
About HPM Project
The HPM Project is located within the Haut-Plateau de la Manicouagan area, east of the Manicouagan structure, the site of a major 215 Ma impact event. The extensive reservoir at Manicouagan supports five hydro-power plants. The existing Quebec Cartier rail line, located within the HPM Project area, links Labrador City to Port Cartier and Sept Iles, two major iron ore port facilities.
The claims host prospective gabbroic, ultramafic and anorthositic bodies within the Manicouagan metamorphic complex and are associated with significant nickel-copper-cobalt sulphide mineralization first identified by Falconbridge in 1999, where they discovered extensive nickel-bearing sulphide mineralization at BDF during drilling in 2001 – 2002. Murchison Minerals Ltd.’s predecessor – Manicouagan Minerals – drilled in the area in 2008 and 2009. The majority of the past drilling at the HPM Project targeted the BDF geophysical conductor and confirmed the presence of nickel-copper-cobalt sulphide mineralization over approximately 300-metres strike length to a depth of 295 metres. The mineralization remains open at depth and partially along strike.
Figure 8: HPM Location Map.
In March of 2022, the Company completed a comprehensive data compilation, verification and modelling program, comprising all previous drill hole data from the BDF Zone. The modelling program consisted of developing a preliminary 3D interpretation of nickel mineralization at BDF. Based on the modelling, the Zone outcrops on surface, extends to a vertical depth of 295 m, has a strike length of 315 m, and is composed of multiple stacked lenses over a maximum footprint width of 150 m. Individual lenses have a maximum thickness of 28 m. During the 2022 Summer Exploration Program, diamond drilling focused on the expansion and delineation of mineralization at BDF. Those results are currently being evaluated and the Preliminary model will be updated as results become available. No resource estimates have been completed on the Zone to date.
After Murchison acquired 100% ownership of the property in 2019, the Company focused exploration work on the camp-scale potential of the region. Aerial EM surveys completed in the spring of 2021 identified more than 50 anomalous conductors. Prospecting crews were able to traverse three (3) of the more than 50 anomalies, and discovered new outcrops of nickel-bearing sulphide mineralization in the process. The prospecting program was followed by an inaugural drill program at the PYC Target area – an EM anomaly with a 1.95-km strike length. Subsequent to the completion of the drill program at PYC, the Company increased its dominant land position in the Haut-Plateau region from 139 km2 to 576 km2. Finally, as a result of the spring 2022 VTEM survey, completed over the remaining 85% of the HPM property area, the Company further increase its land holdings at HPM to 648 km2.
Qualifying Statement
The foregoing scientific and technical disclosures on the HPM Project have been reviewed by John Shmyr, P.Geo., VP Exploration, a registered member of the Professional Engineers and Geoscientists of Saskatchewan and current holder of a special authorization with the Ordre des Géologues du Québec. Mr. Shmyr is a Qualified Person as defined by National Instrument 43-101. The Qualified Person has verified the data disclosed in this release, including sampling, analytical and test data underlying the information contained in this release. Mr. Shmyr consents to the inclusion in the announcement of the matters based on his information in the form and context in which it appears.
Some data disclosed in this News Release relating to sampling and drilling results is historical in nature. Neither the Company nor a qualified person has yet verified this data and therefore investors should not place undue reliance on such data. In some cases, the data may be unverifiable due to lack of drill core. Mineralization hosted on adjacent and/or nearby and/or geologically similar properties is not necessarily indicative of mineralization hosted on the Company’s properties.
About Murchison Minerals Ltd. (TSXV: MUR, OTCQB: MURMF)
Murchison is a Canadian‐based exploration company focused on nickel-copper-cobalt exploration at the 100% – owned HPM Project in Quebec and the exploration and development of the 100% – owned Brabant Lake zinc‐copper‐silver project in north‐central Saskatchewan. The Company also holds an option to earn 100% interest in the Barraute VMS exploration project also located in Quebec, north of Val d’Or.
Murchison Minerals