Toronto, ON / ACCESSWIRE/ August 26, 2014 / Moag Copper Gold Resources Inc. ("Moag")(CSE:MOG) announced today the first diamond drillhole (14-934-01) of Moag's drilling campaign on its Mace property in the west of Ireland was completed at a depth of 206.5M on August 8, 2014. The drill core, which intersected pyrite, chalcopyrite and molybdenite linked to quartz veining in altered granite, is currently being logged geologically and prepared for analysis. The water returns and fine sediments (<75 micron 'sludge') were sampled at 3m intervals to 83.5m down hole (when water return was lost) and submitted to ALS Global Laboratories in Loughrea, Ireland for analysis.
Geochemical analyses of the sludge samples have returned anomalous results for coincident molybdenum (Mo) and copper (Cu) in the fine fraction, with maxima of 0.57% Mo, 0.223% Cu for the 3m returns from 49-52m down hole. Elevated Cu-Mo levels were reported throughout the 10m-83.5m interval. It must be stated that the sludge sampling is a relatively crude methodology, but was carried out to indicate the levels of Cu-Mo reporting in the finer sample fractions. The results of the drill core analysis for 14-934-01 will be reported in due course. Diamond hole 14-934-02 is currently being drilled in continuation of the planned program.
SLUDGE ASSAY RESULTS
DRILLHOLE 14-934-01
----------------------------------------------------------------- |Hole I.D.|Sample I.D.|From|To |Interval|Cu (%)|Mo (%)|Ag (g/t)| |---------------------------------------------------------------| |14-934-01|1525 |0 |1.5 |1.5 |0.0432|0.0046|>100 | |---------------------------------------------------------------| |14-934-01|1526 |1.5 |5 |2.5 |0.0301|0.0127|57.4 | |---------------------------------------------------------------| |14-934-01|1527 |4 |7 |3 |0.0754|0.0639|52.8 | |---------------------------------------------------------------| |14-934-01|1528 |7 |10 |3 |0.0473|0.0399|48.3 | |---------------------------------------------------------------| |14-934-01|1529 |10 |13 |3 |0.0733|0.3230|12.4 | |---------------------------------------------------------------| |14-934-01|1530 |13 |16 |3 |0.0576|0.1810|10.1 | |---------------------------------------------------------------| |14-934-01|1531 |16 |19 |3 |0.1440|0.4010|25.3 | |---------------------------------------------------------------| |14-934-01|1532 |19 |22 |3 |0.3780|0.3950|48.9 | |---------------------------------------------------------------| |14-934-01|1533 |22 |25 |3 |0.1810|0.1420|23.0 | |---------------------------------------------------------------| |14-934-01|1534 |25 |28 |3 |0.1580|0.1520|22.4 | |---------------------------------------------------------------| |14-934-01|1535 |28 |31 |3 |0.1520|0.1830|21.4 | |---------------------------------------------------------------| |14-934-01|1536 |31 |34 |3 |0.1560|0.1890|31.9 | |---------------------------------------------------------------| |14-934-01|1537 |34 |37 |3 |0.0696|0.0763|14.0 | |---------------------------------------------------------------| |14-934-01|1538 |37 |40 |3 |0.0767|0.1940|15.1 | |---------------------------------------------------------------| |14-934-01|1539 |40 |43 |3 |0.1610|0.2190|29.2 | |---------------------------------------------------------------| |14-934-01|1540 |43 |46 |3 |0.1130|0.1720|36.8 | |---------------------------------------------------------------| |14-934-01|1541 |46 |49 |3 |0.1070|0.0907|57.9 | |---------------------------------------------------------------| |14-934-01|1542 |49 |52 |3 |0.2230|0.5710|40.0 | |---------------------------------------------------------------| |14-934-01|1543 |52 |55 |3 |0.2230|0.4630|31.7 | |---------------------------------------------------------------| |14-934-01|1544 |55 |58 |3 |0.0990|0.1390|21.6 | |---------------------------------------------------------------| |14-934-01|1545 |58 |59.2|1.2 |0.1160|0.1480|34.0 | |---------------------------------------------------------------| |14-934-01|1546 |59.2|62.5|3.3 |0.1310|0.3290|>100 | |---------------------------------------------------------------| |14-934-01|1547 |62.5|65.5|3 |0.1230|0.1330|87.2 | |---------------------------------------------------------------| |14-934-01|1548 |65.5|68.5|3 |0.0938|0.1080|49.3 | |---------------------------------------------------------------| |14-934-01|1549 |68.5|71.5|3 |0.0765|0.0945|42.8 | |---------------------------------------------------------------| |14-934-01|1550 |71.5|74.5|3 |0.0690|0.0962|33.9 | |---------------------------------------------------------------| |14-934-01|1551 |74.5|77.5|3 |0.0958|0.2000|15.0 | |---------------------------------------------------------------| |14-934-01|1552 |77.5|80.5|3 |0.1120|0.1380|16.3 | |---------------------------------------------------------------| |14-934-01|1553 |80.5|83.5|3 |0.1110|0.1270|38.1 | -----------------------------------------------------------------
The scientific and technical information contained in this news release was prepared, supervised and approved by the Qualified Person as defined in NI 43-101, Deirdre Lewis, PHD. P. Geo. Eur. Geo.
For further information please contact:
---------------------------------------------------------------------------- |Bradley L. Jones, COO&CFO (416) 510 8397|Gary R. Brown, CEO (778) 839-0622| |[email protected] |[email protected] | |http://www.moag.ca/ |http://www.moag.ca/ | | | | ----------------------------------------------------------------------------
Notice Regarding Forward-Looking Statements
This news release contains "forward-looking statements," Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future, including but not limited to, statements regarding Moag's exploration program.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mineral exploration and difficulties associated with obtaining financing on acceptable terms. We are not in control of metals prices and these could vary to make development uneconomic. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate.
SOURCE: Moag Copper Gold Resources Inc.