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Murgor retains Golder Associates for preliminary feasibility studies on the Hudvam and Wim deposits in the Flin Flon Belt, Manitoba.
MONTREAL, Nov. 15 /CNW Telbec/ - Murgor Resources Inc. (MUG: TSX-V) is pleased to announce that it has retained the services of Golder Associates Ltd. to carry-out Preliminary Feasibility studies on the Hudvam and Wim volcanogenic massive sulphide deposits in the Flin Flon Belt of Manitoba. Golder in undertaking the Mineral Resource Estimation, the Environmental Feasibility Analysis, and the preparation of all Technical Reports required for both properties. Murgor is currently earning a 100% interest in both deposits from HudBay Minerals Inc. (HBM: TSX). The Preliminary Feasibility study at Hudvam is expected to be completed in the fall of 2008 whereas Golder is expected to complete the Preliminary Feasibility study at Wim in the spring of 2009.
Andre C. Tessier, President and CEO of Murgor Resources states: "Murgor is very pleased to have secured the services of such a reputable firm as Golder. We are all waiting for the results with great anticipation but also with confidence. Murgor is presently drilling the Wim deposit and, starting in January of 2008, we will be drilling both deposits with four to five drills. Murgor will be working with Golder to ensure that definition drilling of the deposits will be completed by spring of 2008. New targets from geophysical surveys will also be drilled during that time frame at both properties. We're in for a very busy winter and we can't wait for the results."
Golder is recognized as a leader in resource and reserve evaluation, gotechnical analysis, mine waste-fill design, environmental consulting and safety training. Many Golder staff can be called upon to act as Qualified Persons or Competent Persons, as defined by world-wide regulatory agencies, while acting in the role of Independent Engineer. Golder has been in operation for over 40 years and has more than 6,000 staff in over 150 offices across
Africa, Asia, Australia, Europe, North America and South America.
Murgor also wishes to announce that a minimum of four diamond drills have been secured by the Corporation to start drilling at the Wim and Hudvam properties in January of 2008. A total of 10,000 metres is planned at Hudvam and approximately 15,000 metres will be drilled at Wim. Drilling will be aimed at resource definition and exploration at the property-scale. An additional drill will start a 5,000 metre drilling program later in the winter to test exploration targets at the Fon, Tyr, Flin-D and Snow-H properties.
In the fall of 2006, Murgor signed six separate agreements with HudBay Minerals Inc. to acquire a 100% interest in four properties that include the Fon, Wim, Hudvam and Tyr polymetallic deposits (Zinc-Copper-Gold-Silver), and a 50% interest in two large-scale grassroots projects covering 186,104 hectares of very prospective ground in Manitoba and Saskatchewan. All the properties are located in the Flin Flon greenstone belt of Manitoba and Saskatchewan, one of the most prolific base metal districts in the world.
HudBay retains a 2% NSR royalty or has the option to buy back up to 65% of the deposits for cash considerations, work expenditures and bringing the deposits into production while carrying Murgor to production. Murgor is continuing to drill at the Wim property where results are pending for seven drill holes.
In other news:
Murgor also wishes to announce that it has entered into an amended option agreement with Mr. Jacques Duval dated August 16, 2007 pursuant to which the terms of the previously-announced option agreement entered into with Mr. Duval on June 8, 2006 is amended such that Murgor will issue 478,723 treasury shares
to Mr. Duval, having an aggregate value of $90,000, in order to acquire a 100% interest in the Nelligan property, located in Nelligan, Benoit Lesueur Township in the Province of Quebec.
Murgor will issue the shares at a deemed price of $0.188 per share, representing the average closing price of Murgor's shares on the TSX Venture Exchange for the ten trading days prior to August 16, 2007. The issuance of the shares is subject to regulatory approval, including that of the TSX Venture Exchange.
Murgor also wishes to announce that it has granted a total of
250,000 stock options to Directors of the Corporation exercisable at a price of $0.25 per share until November 14th, 2011. The options were granted in accordance with the Company's 2004 Stock Option Plan and will become fully vested on April 14th, 2008.
The technical information in this news release has been reviewed by
Dr. Jean-Philippe Desrochers, P.Geo, Vice-President Exploration of Murgor Resources Inc. a qualified person in accordance with Canadian regulatory requirements as set out in National Instrument 43-101.
This news release includ es certain "forward-looking statements". All
statements other than statements of historical fact, included in this release, including, without limitation, statements regard ing potential mineralization, resources and reserves, exploration results, and future plans and objectives of Murgor, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could d iffer materially from
those anticipated in such statements. Important factors that could cause actual results to differ materially from Murgor's expectations are exploration risks d etailed herein and from time to time in the filings mad e by Murgor with securities regulations.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this press release
MONTREAL, Nov. 15 /CNW Telbec/ - Murgor Resources Inc. (MUG: TSX-V) is pleased to announce that it has retained the services of Golder Associates Ltd. to carry-out Preliminary Feasibility studies on the Hudvam and Wim volcanogenic massive sulphide deposits in the Flin Flon Belt of Manitoba. Golder in undertaking the Mineral Resource Estimation, the Environmental Feasibility Analysis, and the preparation of all Technical Reports required for both properties. Murgor is currently earning a 100% interest in both deposits from HudBay Minerals Inc. (HBM: TSX). The Preliminary Feasibility study at Hudvam is expected to be completed in the fall of 2008 whereas Golder is expected to complete the Preliminary Feasibility study at Wim in the spring of 2009.
Andre C. Tessier, President and CEO of Murgor Resources states: "Murgor is very pleased to have secured the services of such a reputable firm as Golder. We are all waiting for the results with great anticipation but also with confidence. Murgor is presently drilling the Wim deposit and, starting in January of 2008, we will be drilling both deposits with four to five drills. Murgor will be working with Golder to ensure that definition drilling of the deposits will be completed by spring of 2008. New targets from geophysical surveys will also be drilled during that time frame at both properties. We're in for a very busy winter and we can't wait for the results."
Golder is recognized as a leader in resource and reserve evaluation, gotechnical analysis, mine waste-fill design, environmental consulting and safety training. Many Golder staff can be called upon to act as Qualified Persons or Competent Persons, as defined by world-wide regulatory agencies, while acting in the role of Independent Engineer. Golder has been in operation for over 40 years and has more than 6,000 staff in over 150 offices across
Africa, Asia, Australia, Europe, North America and South America.
Murgor also wishes to announce that a minimum of four diamond drills have been secured by the Corporation to start drilling at the Wim and Hudvam properties in January of 2008. A total of 10,000 metres is planned at Hudvam and approximately 15,000 metres will be drilled at Wim. Drilling will be aimed at resource definition and exploration at the property-scale. An additional drill will start a 5,000 metre drilling program later in the winter to test exploration targets at the Fon, Tyr, Flin-D and Snow-H properties.
In the fall of 2006, Murgor signed six separate agreements with HudBay Minerals Inc. to acquire a 100% interest in four properties that include the Fon, Wim, Hudvam and Tyr polymetallic deposits (Zinc-Copper-Gold-Silver), and a 50% interest in two large-scale grassroots projects covering 186,104 hectares of very prospective ground in Manitoba and Saskatchewan. All the properties are located in the Flin Flon greenstone belt of Manitoba and Saskatchewan, one of the most prolific base metal districts in the world.
HudBay retains a 2% NSR royalty or has the option to buy back up to 65% of the deposits for cash considerations, work expenditures and bringing the deposits into production while carrying Murgor to production. Murgor is continuing to drill at the Wim property where results are pending for seven drill holes.
In other news:
Murgor also wishes to announce that it has entered into an amended option agreement with Mr. Jacques Duval dated August 16, 2007 pursuant to which the terms of the previously-announced option agreement entered into with Mr. Duval on June 8, 2006 is amended such that Murgor will issue 478,723 treasury shares
to Mr. Duval, having an aggregate value of $90,000, in order to acquire a 100% interest in the Nelligan property, located in Nelligan, Benoit Lesueur Township in the Province of Quebec.
Murgor will issue the shares at a deemed price of $0.188 per share, representing the average closing price of Murgor's shares on the TSX Venture Exchange for the ten trading days prior to August 16, 2007. The issuance of the shares is subject to regulatory approval, including that of the TSX Venture Exchange.
Murgor also wishes to announce that it has granted a total of
250,000 stock options to Directors of the Corporation exercisable at a price of $0.25 per share until November 14th, 2011. The options were granted in accordance with the Company's 2004 Stock Option Plan and will become fully vested on April 14th, 2008.
The technical information in this news release has been reviewed by
Dr. Jean-Philippe Desrochers, P.Geo, Vice-President Exploration of Murgor Resources Inc. a qualified person in accordance with Canadian regulatory requirements as set out in National Instrument 43-101.
This news release includ es certain "forward-looking statements". All
statements other than statements of historical fact, included in this release, including, without limitation, statements regard ing potential mineralization, resources and reserves, exploration results, and future plans and objectives of Murgor, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could d iffer materially from
those anticipated in such statements. Important factors that could cause actual results to differ materially from Murgor's expectations are exploration risks d etailed herein and from time to time in the filings mad e by Murgor with securities regulations.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this press release
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