Toronto, ON / ACCESSWIRE/ September 18, 2014 / Moag Copper Gold Resources Inc. ("Moag")(CSE:MOG) today provides the following update of Moag's drilling campaign on its Mace property in the west of Ireland, designed to test historic coincident copper-molybdenum geochemical and geophysical anomalies, which were drill tested in 1969-70 to approximately 50m depth. Moag's first diamond drill hole (14-934-01; of six planned) was completed at a depth of 206.5m, and intersected pyrite, chalcopyrite and molybdenite linked to quartz veining, brecciation and stringers in altered granite. Epidote and potassic alteration has been geologically logged in core proximal to the mineralised zones. The full length of 14-934-01 was sampled (as half core samples, from 0.5m to 1.2m lengths) and submitted for analysis by the international ALS Global Laboratories in Loughrea, Ireland.
Geochemical analyses of the half-core samples have returned anomalous results for coincident molybdenum (Mo), copper (Cu) and silver (Ag), with maxima of 3.1m of 0.34% Cu, 0.29% Mo and 3.43g/t Ag (20.2-23.3m); 3m of 0.19% Cu; 0.22% Mo and 1.73g/t Ag (48.0-51.0m); 1m at 0.16% Cu; 0.31% Mo and 1.4 g/t Ag (110-111m). All intervals cited above are down-the-hole depths.
Weighted average grades ranging from 0.02% - 0.308% Mo were recorded throughout the extended length of the hole, over intervals varying from 1m to 14.2m, to 204.2m depth.
The water returns and fine sediments (<75 micron 'sludge') were also sampled at 3m intervals to 83.5m down hole (when water return was lost) to assess whether fine grained minerals were being potentially lost in returns, but recovery of highly competent core was excellent throughout. While the fine sediment returned anomalous Cu-Mo values, it is considered that the core results to date are representative of a significant mineralising system at Mace.
A summary of the main copper-molybdenum-silver intervals in core from 14-934-01 is shown in the table below.
CORE ASSAY RESULTS
DIAMOND DRILLHOLE 14-934-01
----------------------------------------------------------------------------------- |MOAG: SIGNIFICANT INTERCEPTS TO DATE IN 2014 DRILL PROGRAMME (DDH 14-934-01) | |---------------------------------------------------------------------------------| |HOLE | | |Depth |Width |Weighted Averages | |---------------------------------------------------------------------------------| |DDH |Azimuth |Angleº |From |To |Interval|Cu % |Mo % |Ag g/t | | | | | | |(m) | | | | |---------------------------------------------------------------------------------| |14-934-01|120 |-50 |6.5 |7.0 |0.5 |0.022 |0.130 |<0.5 | |---------------------------------------------------------------------------------| |14-934-01| | |12.0 |13.0 |1 |0.027 |0.156 |<0.5 | |---------------------------------------------------------------------------------| |14-934-01| | |19.0 |26.6 |7.6 |0.178 |0.126 |1.81 | |---------------------------------------------------------------------------------| |14-934-01| |incl. |20.2 |23.3 |3.1 |0.340 |0.287 |3.43 | |---------------------------------------------------------------------------------| |14-934-01| | |38.1 |39.0 |0.9 |0.030 |0.097 |0.45 | |---------------------------------------------------------------------------------| |14-934-01| | |45.0 |52.4 |7.4 |0.100 |0.152 |0.94 | |---------------------------------------------------------------------------------| |14-934-01| |incl. |48.0 |51.0 |3 |0.189 |0.222 |1.73 | |---------------------------------------------------------------------------------| |14-934-01| | |57.9 |61.0 |3.1 |0.107 |0.120 |0.00 | |---------------------------------------------------------------------------------| |14-934-01| | |63.0 |64.0 |1 |0.043 |0.110 |<0.5 | |---------------------------------------------------------------------------------| |14-934-01| | |71.0 |81.0 |10 |0.053 |0.041 |0.95 | |---------------------------------------------------------------------------------| |14-934-01| |incl. |74.0 |76.0 |2 |0.143 |0.113 |2.2 | |---------------------------------------------------------------------------------| |14-934-01| |incl. |79.0 |79.8 |0.8 |0.086 |0.034 |0.48 | |---------------------------------------------------------------------------------| |14-934-01| | |85 |88 |3 |0.033 |0.024 |0.33 | |---------------------------------------------------------------------------------| |14-934-01| | |89 |92 |3 |0.045 |0.050 |0.17 | |---------------------------------------------------------------------------------| |14-934-01| | |95 |98 |3 |0.055 |0.029 |0.2 | |---------------------------------------------------------------------------------| |14-934-01| | |99 |103.1 |4.1 |0.090 |0.080 |0.4 | |---------------------------------------------------------------------------------| |14-934-01| | |110 |111 |1 |0.160 |0.308 |1.4 | |---------------------------------------------------------------------------------| |14-934-01| | |117 |119 |2 |0.122 |0.037 |1 | |---------------------------------------------------------------------------------| |14-934-01| | |128 |129 |1 |0.059 |0.153 |<0.5 | |---------------------------------------------------------------------------------| |14-934-01| | |136 |143 |7 |0.060 |0.040 |0 | |---------------------------------------------------------------------------------| |14-934-01| | |148.2 |149.9 |1.7 |0.054 |0.069 |<0.5 | |---------------------------------------------------------------------------------| |14-934-01| | |152 |166.2 |14.2 |0.035 |0.028 |<0.5 | |---------------------------------------------------------------------------------| |14-934-01| |incl. |154 |157 |3 |0.063 |0.054 |0 | |---------------------------------------------------------------------------------| |14-934-01| |incl. |159.1 |161 |1.9 |0.026 |0.033 |<0.5 | |---------------------------------------------------------------------------------| |14-934-01| |incl. |162 |163 |1 |0.033 |0.051 |<0.5 | |---------------------------------------------------------------------------------| |14-934-01| | |170 |173 |3 |0.034 |0.021 |0 | |---------------------------------------------------------------------------------| |14-934-01| | |174 |175 |1 |0.045 |0.026 |<0.5 | |---------------------------------------------------------------------------------| |14-934-01| | |176 |179 |3 |0.041 |0.027 |0.3 | |---------------------------------------------------------------------------------| |14-934-01| | |180 |184 |4 |0.072 |0.051 |0.3 | |---------------------------------------------------------------------------------| |14-934-01| | |185 |186 |1 |0.033 |0.027 |<0.5 | |---------------------------------------------------------------------------------| |14-934-01| | |188 |190 |2 |0.037 |0.041 |<0.5 | |---------------------------------------------------------------------------------| |14-934-01| | |191 |192 |1 |0.061 |0.042 |<0.5 | |---------------------------------------------------------------------------------| |14-934-01| | |194 |196 |2 |0.028 |0.027 |<0.5 | |---------------------------------------------------------------------------------| |14-934-01| | |197 |205.4 |8.4 |0.044 |0.029 |0.15 | |---------------------------------------------------------------------------------| |14-934-01| |incl. |197 |200 |3 |0.073 |0.046 |0.43 | |---------------------------------------------------------------------------------| |14-934-01| |incl. |201 |202 |1 |0.038 |0.027 |<0.5 | |---------------------------------------------------------------------------------| |14-934-01| |incl. |203 |204.2 |1.2 |0.030 |0.034 |<0.5 | -----------------------------------------------------------------------------------
Drilling and geological assessment is continuing at the prospect to test the strike and down dip extent of the granite-hosted mineralised vein system. Results will be reported in due course.
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 PGeo EurGeol.
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.