The Program is comprised of diamond drilling totaling approximately 3,500 m and is expected to be completed by mid-March.
2024 Winter Exploration Program:
The Program will focus on diamond drill exploration, utilizing one drill. Murchison maintains a year-round core processing facility, and accommodations within the nearby - 2.5 km - community of
The BMK Deposit has a 2018 NI 43-101 resource estimate of 2.1 Mt indicated at 0.69% Cu, 7.08% Zn, 0.49% Pb, 39.6 g/t Ag, 0.23 g/t Au and 7.6 Mt of inferred at 0.57% Cu, 4.46% Zn, 0.19% Pb, 18.42 g/t Ag, and 0.1 g/t Au and remains open along strike and at depth. Recent work completed by subject matter expert Dr.
During the Program, the Company will drill test three high priority areas. i). The CST target, a large geophysical anomaly, reidentified in a 2017 Heli-SAM survey (hybrid ground/airborne electromagnetic survey). The target is considered prospective due to its similar conductance to that of the BMK Deposit, as well as being only 400 metres south of the BMK Deposit directly along strike. The large size and proximity of the anomaly to the BMK Deposit may indicate a copper stockwork zone or an additional lens of massive sulphide mineralization. ii). BMK South Extension target, located south of the current extents of the defined BMK Deposit. The target area is along strike from multiple high-grade copper intercepts at the southern edge of BMK. iii). BMK North Extension target, located north of the current extents of the defined BMK Deposit. The target area is along strike from multiple high-grade copper intercepts at the northern edge of BMK Deposit.
2023 Fall Exploration Program at BMK
Murchison has recently received geophysical data from the fall 2023 ground electro-magnetic (EM) survey over the CST target. The EM survey consisted of two lines, 1 line was 2 km long and the other 1 km long with 50-metre spaced reading stations oriented perpendicular over the CST anomaly. The survey was used as confirmation of the 2017 geophysical data, and they survey successfully confirmed a strong EM response coincident with the previously modelled anomaly. This geophysical survey provided confidence in the robustness of the previous geophysical anomaly and confirmed it as high priority drill target for Murchison.
One (1) hole drilled in 2021 was also selected for a borehole EM survey. This hole detected a significant off-hole anomaly but unfortunately the hole was plugged at the 400-metre level which is approximately where the anomaly was located, and where mineralization had been encountered in the hole. The blocked hole was a hindrance to be able to provide full resolution to the borehole EM results however there is still sufficient data to highlight a significant response directly west of the hole. This off-hole anomaly is located at the far southern extent of the BMK Deposit and is planned to be drill tested during the winter program.
'The 2024 Exploration Program at the
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About the
About
Murchison is a Canadian-based exploration Company focused on nickel-copper-cobalt exploration at the 100% - owned
Contact:
Erik H Martin
Tel: (416) 350-3776
Email: info@murchisonminerals.com
Forward-Looking Information
The content and grades of any mineral deposits at the Company's properties are conceptual in nature. There has been insufficient exploration to define a mineral resource on the property and it is uncertain if further exploration will result in any target being delineated as a mineral resource.
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. FLI herein includes, but is not limited to: future drill results; stakeholder engagement and relationships; parameters and methods used with respect to the assay results; the prospects, if any, of the deposits; future prospects at the deposits and the significance of exploration activities and results. FLI is designed to help you understand management's current views of its near- and longer-term prospects, and it may not be appropriate for other purposes. FLI by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such FLI. Although the FLI contained in this press release is based upon what management believes, or believed at the time, to be reasonable assumptions, the Company cannot assure shareholders and prospective purchasers of securities of the Company that actual results will be consistent with such FLI, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither the Company nor any other person assumes responsibility for the accuracy and completeness of any such FLI. Except as required by law, the Company does not undertake, and assumes no obligation, to update or revise any such FLI contained herein to reflect new events or circumstances, except as may be required by law. Unless otherwise noted, this press release has been prepared based on information available as of the date of this press release. Accordingly, you should not place undue reliance on the FLI or information contained herein. Furthermore, should one or more of the risks, uncertainties or other factors materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in FLI. Assumptions upon which FLI is based, without limitation, include: the ability of exploration activities to accurately predict mineralization; the accuracy of geological modelling; the ability of the Company to complete further exploration activities; the legitimacy of title and property interests in the deposits; the accuracy of key assumptions, parameters or methods used to obtain the assay results; the ability of the Company to obtain required approvals; the results of exploration activities; the evolution of the global economic climate; metal prices; environmental expectations; community and nongovernmental actions and any impacts of COVID-19 on the deposits, the Company's financial position, the Company's ability to secure required funding, or operations. Risks and uncertainties about the Company's business are more fully discussed in the disclosure materials filed with the securities regulatory authorities in
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