TORONTO, ON / ACCESSWIRE / April 14, 2021 / Murchison Minerals Ltd. ("Murchison" or the "Company") (TSXV:MUR) today announces that the VTEM airborne geophysical survey has commenced following promising recent prospecting results (see November 19, 2020 release) on its 100% owned HPM Ni-Cu-Co ("HPM") project in Quebec.
The Geotech VTEM 655-line kilometre survey over the HPM property will be flown with a 100-line spacing.
Murchison has also commissioned a satellite remote sensing study to detect alteration signatures on the property which, when completed, will integrate all pertinent data including the airborne survey to identify the most prospective drill targets in this coming field season.
JC Potvin, Murchison's President and CEO, comments: "The HPM project continues to show tremendous promise with its numerous gossanous nickel-copper-cobalt-bearing outcrops spatially linked to historical airborne EM anomalies. It is well-known that the prolific Voisey's Bay Mine, some 620 km from our HPM project, was originally prospected and mapped as a pyritic gossan. There, leaching of metals from the deeply-weathered surficial cap yielded little or no anomalous metal concentrations in the first sampling yet Voisey's Bay is one of world's most spectacular nickel-copper-cobalt mines."
Historically, exploration and drilling on the HPM property focused on the immediate area around the Barre de Fer showing. The anomalous Ni-Cu-Co results from mafic intrusions 0.5-2.5 km outside of that area, obtained from the recent reconnaissance prospecting program, demonstrate the potential for a mineralization system that is larger than previously thought.
The 58 km2 HPM property lies within the Grenville Province's Allochthonous Belt and is host to numerous Ni-Cu-Co showings associated with mafic to ultramafic intrusions, including the high-grade Barre de Fer magmatic nickel sulphide occurrence. The Barre de Fer occurrence returned up to 1.74% Ni, 0.90% Cu, and 0.09% Co over 43.18 m in historic diamond drilling. Results from this short reconnaissance-prospecting program in conjunction with other historic results provide additional encouragement for a follow-up program at HPM.
Murchison also announces that it has granted 200,000 stock options to a consultant of the Company. The stock options are exercisable for a period of 5 years at a price of $0.095 and vest immediately.
About Murchison Minerals Ltd. (TSXV: MUR)
Murchison is a Canadian‐based exploration company focused on the exploration and development of the 100% owned Brabant‐McKenzie zinc‐copper‐silver project in north‐central Saskatchewan. The Company also has a 100% interest in the HPM nickel‐copper‐cobalt project in Quebec. Murchison has 108.9 million shares issued and outstanding.
Additional information about Murchison and its exploration projects can be found on the Company's website at www.murchisonminerals.com. For further information, please contact:
Cathy Hume, CHF Capital Markets, CEO
Tel: 416-868-1079 x 251[email protected]
Certain information set forth in this news release may contain forward‐looking information that involves substantial known and unknown risks and uncertainties. This forward‐looking information is subject to numerous risks and uncertainties, certain of which are beyond the control of the Company, including, but not limited to, the impact of general economic conditions, industry conditions, and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward‐looking information. The parties undertake no obligation to update forward‐looking information except as otherwise may be required by applicable securities law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Murchison Minerals Ltd.