- Published: 27 October 2008
- Written by Editor
Duluth Metals drills large corridor of higher grade copper, nickel, platinum and palladium mineralization
Duluth Metals Limited ("Duluth Metals") (TSX: DM) (TSX:DM.U) today announced significant new assays for seven holes drilled in a higher grade eastern corridor of the Nokomis Deposit located near Ely, Minnesota. These seven holes were concentrated in an area of historically higher grade copper-platinum-palladium mineralization and confirmed significant higher grade values. Highlights of the drilling program include: MEX-138, which intersected a 63.9 foot section of 1.045% copper, 0.323% nickel and 1.565 grams per tonne (g/t) of Total Precious Metals (TPM = Platinum+Palladium+Gold) (Cu Equivalent* of 2.595%), MEX-129, which intersected 30.0 feet of 1.055% copper, 0.272% nickel, and 3.190 grams per tonne (g/t) of TPM (Cu Equivalent* of 3.221%), MEX-131, which intersected 29.5 feet of 1.464% copper, 0.347% nickel and 1.385 g/t TPM (Cu Equivalent* of 3.036%), and MEX-77W1, which intersected a 25.0 foot section of 0.945% copper, 0.303% nickel and 2.529 g/t TPM (Cu Equivalent* of 2.910%).The Company is moving forward on its development program and has a current cash position of approximately $14 Million Cdn.
Higher grade sections from the seven holes drilled in this eastern corridor are listed as follows. In addition, a complete assay table of all drill holes is provided further in this press release.
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- MEX-77W1 (MEX 71 and MEX 77 were not completed for technical reasons)
intersected 65.0 feet of 0.789% copper, 0.242% nickel and 2.065 g/t
TPM (Cu Equivalent* of 2.369%), including 25.0 feet of 0.945%
copper, 0.303% nickel and 2.530 g/t TPM (Cu Equivalent* of 2.910%).
- MEX-124 intersected 58.9 feet of 0.732% copper, 0.199% nickel and
1.591 g/t TPM (Cu Equivalent* of 1.956%), including 5.0 feet of
1.270% copper, 0.331% nickel and 2.435 g/t TPM (Cu Equivalent* of
3.216%).
- MEX-127M intersected 105.0 feet of 0.829% copper, 0.230% nickel and
1.564 g/t TPM (Cu Equivalent* of 2.146%), including 10.0 feet of
1.150% copper, 0.309% nickel and 2.099 g/t TPM (Cu Equivalent* of
2.912%), and 15.0 feet of 1.128% copper, 0.315% nickel and 1.881 g/t
TPM (Cu Equivalent* of 2.830%).
- MEX-129 intersected 105.0 feet of 0.740% copper, 0.200% nickel and
1.817 g/t TPM (Cu Equivalent* of 2.087%), including 30.0 feet of
1.055% copper, 0.272% nickel and 3.190 g/t TPM (Cu Equivalent* of
3.211%).
- MEX-131 intersected 103.2 feet of 0.915% copper, 0.238% nickel and
1.036 g/t TPM (Cu Equivalent* of 2.044%), including 29.5 feet of
1.464% copper, 0.347% nickel and 1.385 g/t TPM (Cu Equivalent* of
3.036%).
- MEX-136 intersected 29.6 feet of 0.687% copper, 0.217% nickel and
0.953 g/t TPM (Cu Equivalent* of 1.692%).
- MEX-138 intersected 250.9 feet of 0.801% copper, 0.229% nickel and
0.915 g/t TPM (Cu Equivalent* of 1.845%), including 63.9 feet of
1.045% copper, 0.323% nickel and 1.565 g/t TPM (Cu Equivalent* of
2.595%) and 24.5 feet of 0.957% copper, 0.245% nickel and 0.867 g/t
TPM (Cu Equivalent* of 2.034%).
>>
Fourteen holes drilled previously by Duluth Metals (listed in earlier press releases) have also encountered higher grade intersections in this eastern part of the Nokomis Deposit. This higher grade area is approximately a half mile wide by one mile long. The following lists highlights from the previous holes and full results are available in previous press releases available on our website.
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- MEX-3 intersected 75.0 feet of 0.842% copper, 0.206% nickel and
0.838g/t TPM (Cu Equivalent* of 1.804%), including 25.0 feet of
1.073% copper, 0.251% nickel and 1.011 g/t TPM (Cu Equivalent* of
2.252%) and 20.0 feet of 0.966% copper, 0.249% nickel and 0.996 g/t
TPM (Cu Equivalent* of 2.104%).
- MEX-67 intersected 130.0 feet of 1.036% copper, 0.281% nickel and
0.960 g/t TPM (Cu Equivalent* of 2.250%), including 60.0 feet of
1.326% copper, 0.348% nickel and 1.186 g/t TPM (Cu Equivalent* of
2.250%), containing 5.0 feet of 3.260% copper, 0.493% nickel and
2.041 g/t TPM (Cu Equivalent* of 5.382%).
- MEX-69 intersected 19.7 feet of 1.583% copper, 0.696% nickel and
1.529 g/t TPM (Cu Equivalent* of 4.281%), including 9.8 feet of
2.517% copper, 1.255% nickel and 2.277 g/t TPM (Cu Equivalent* of
7.062%).
- MEX-73 intersected 39.3 feet of 0.830% copper, 0.222% nickel and
1.110 g/t TPM (Cu Equivalent* of 1.926%), including 14.7 feet of
1.045% copper, 0.251% nickel and 1.282 g/t TPM (Cu Equivalent* of
2.296%).
- MEX-74 intersected 39.4 feet of 0.815% copper, 0.237% nickel and
1.314 g/t TPM (Cu Equivalent* of 2.061%), including 9.8 feet of
1.093% copper, 0.298% nickel and 1.589 g/t TPM (Cu Equivalent* of
2.600%).
- MEX-77 intersected 40.0 feet of 0.929% copper, 0.269% nickel and
2.379 g/t TPM (Cu Equivalent* of 2.746%), containing 30.0 feet of
1.030% copper, 0.294% nickel and 2.690 g/t TPM (Cu Equivalent* of
3.052%). (Hole MEX-77 terminated in mineralization due to technical
problems.)
- MEX-78 intersected 123.1 feet of 0.905% copper, 0.264% nickel and
1.426 g/t TPM (Cu Equivalent* of 2.250%), including 49.2 feet of
1.167% copper, 0.351% nickel and 1.781 g/t TPM (Cu Equivalent* of
2.921%).
- MEX-80 intersected 49.2 feet of 0.916% copper, 0.258% nickel and
2.361 g/t TPM (Cu Equivalent* of 2.612%), including 14.9 feet of
1.262% copper, 0.380% nickel and 3.795 g/t TPM (Cu Equivalent* of
3.864%).
- MEX-99 intersected 14.9 feet of 0.992% copper, 0.200% nickel and
1.051 g/t TPM (Cu Equivalent* of 2.003%).
- MEX-103 intersected 78.7 feet of 0.857% copper, 0.224% nickel and
1.428 g/t TPM (Cu Equivalent* of 2.066%), containing 34.6 feet of
1.087% copper, 0.251% nickel and 1.724 g/t TPM (Cu Equivalent* of
2.477%).
- MEX-108 intersected 137.7 feet of 0.899% copper, 0.249% nickel and
0.979 g/t TPM (Cu Equivalent* of 2.023%), including 73.9 feet of
1.081% copper, 0.287% nickel and 1.197 g/t TPM (Cu Equivalent* of
2.399%).
- MEX-112 intersected 78.7 feet of 0.772% copper, 0.196% nickel and
1.125 g/t TPM (Cu Equivalent* of 1.834%), including 34.5 feet of
1.175% copper, 0.270% nickel and 1.821 g/t TPM (Cu Equivalent* of
2.690%), containing 29.5 feet of 1.240% copper, 0.272% nickel and
1.897 g/t TPM (Cu Equivalent* of 2.789%).
- MEX-114 intersected 44.4 feet of 0.682% copper, 0.195% nickel and
1.686 g/t TPM (Cu Equivalent* of 1.914%).
- MEX-120 intersected 132.9 feet of 0.633% copper, 0.180% nickel and
0.915 g/t TPM (Cu Equivalent* of 1.551%), containing 24.6 feet of
0.855% copper, 0.226% nickel and 1.197 g/t TPM (Cu Equivalent* of
2.029%).
* Note to Reader: Copper Equivalent is based on US metal prices of:
Copper - $1.75/lb, Nickel - $7.00/lb, Cobalt - $10.00/lb, Gold -
$600/oz, Platinum - $1,100/oz, Palladium - $350/0z and Silver -
$8.50/oz, and the methodology with metallurgical recoveries, refining
costs and other charges being considered for all metals in accordance
with the January 22, 2008, NI 43-101 Scoping Study produced by Scott
Wilson Roscoe Postle Associates.
>>
"Holes MEX-77W1, 124, 127M, 129, 131, 136 and 138 have been drilled in an area that continues to return markedly higher copper, above average nickel and significantly higher TPM values than the global Nokomis resource, as reported in the June 2008 NI 43-101 Resource Estimate. We are pleased that the new drill results confirm higher grade mineralization within the eastern sector of the Nokomis Deposit" stated Dr. Henry J. Sandri, President and CEO of Duluth Metals. "These new results taken together with the results of the previous 14 holes in this area indicate a specific target area with grade potential significantly above that of our qualified Indicated Resource grades of 0.624% copper, 0.199% nickel and 0.600 g/t TPM. When combined with the previous holes, this higher grade drilled area currently covers an area of approximately 400 acres, and is open in all directions."
A more detailed summary of the assay results for holes MEX-77W1, 124, 127M, 129, 131, 136 and 138 can be found in the table below. True width is estimated at about 90% of core length.
<<
ZONE
CUT-OFF FROM TO LENGTH COPPER NICKEL TPM*
HOLE at (feet) (feet) (feet) (%) (%) (g/t)
MEX-77W1 0.3% Cu 3318 3418 100 0.690 0.203 1.723
0.5% Cu 3318 3383 65 0.789 0.242 2.065
including 3323 3348 25 0.945 0.303 2.529
0.3% Cu 3448 3483 35 0.371 0.092 0.630
MEX-124 0.3% Cu 3951.8 4025.6 73.8 0.658 0.176 1.405
0.5% Cu 3956.8 4015.7 58.9 0.732 0.199 1.591
including 3966.5 3971.5 5 1.270 0.331 2.435
0.3% Cu 4133.8 4168.3 34.5 0.374 0.084 0.642
MEX-127M 0.3% Cu 3074 3184 110 0.811 0.224 1.520
0.5% Cu 3074 3179 105 0.829 0.230 1.564
including 3089 3099 10 1.150 0.309 2.099
and 3119 3134 15 1.128 0.315 1.881
MEX-129 0.3% Cu 2948 3058 110 0.722 0.195 1.769
0.5% Cu 2948 3053 105 0.740 0.200 1.817
including 2973 3003 30 1.055 0.272 3.190
MEX-131 0.3% Cu 3627.1 3774.7 147.6 0.760 0.197 0.867
0.5% Cu 3627.1 3730.3 103.2 0.915 0.238 1.036
including 3627.1 3656.6 29.5 1.464 0.347 1.385
MEX-136 0.3% Cu 3666.4 3740.2 73.8 0.566 0.173 0.782
0.5% Cu 3666.4 3696 29.6 0.687 0.217 0.953
0.3% Cu 3873.1 3907.4 34.3 0.401 0.076 0.351
MEX-138 0.3% Cu 3612.2 3868.1 255.9 0.792 0.226 0.906
0.5% Cu 3617.2 3868.1 250.9 0.801 0.229 0.915
including 3627.1 3691 63.9 1.045 0.323 1.565
and 3774.7 3799.2 24.5 0.957 0.245 0.866
* Total Precious Metals = Platinum+Palladium+Gold
Complete gold, platinum, and palladium assays for MEX-77W1, 124, 127M,
129, 131, 136 and 138 are as follows:
ZONE PALL-
CUT-OFF FROM TO LENGTH GOLD PLATINUM ADIUM
HOLE at (feet) (feet) (feet) (g/t) (g/t) (g/t)
MEX-77W1 0.3% Cu 3318 3418 100 0.161 0.520 1.041
0.5% Cu 3318 3383 65 0.189 0.642 1.234
including 3323 3348 25 0.219 0.809 1.502
0.3% Cu 3448 3483 35 0.088 0.161 0.381
MEX-124 0.3% Cu 3951.8 4025.6 73.8 0.191 0.372 0.842
0.5% Cu 3956.8 4015.7 58.9 0.217 0.423 0.951
including 3966.5 3971.5 5 0.297 0.643 1.495
0.3% Cu 4133.8 4168.3 34.5 0.091 0.163 0.388
MEX-127M 0.3% Cu 3074 3184 110 0.157 0.425 0.938
0.5% Cu 3074 3179 105 0.161 0.439 0.964
including 3089 3099 10 0.130 0.592 1.378
and 3119 3134 15 0.195 0.535 1.152
MEX-129 0.3% Cu 2948 3058 110 0.271 0.529 0.969
0.5% Cu 2948 3053 105 0.278 0.543 0.995
including 2973 3003 30 0.627 1.005 1.558
MEX-131 0.3% Cu 3627.1 3774.7 147.6 0.116 0.225 0.526
0.5% Cu 3627.1 3730.3 103.2 0.142 0.278 0.616
including 3627.1 3656.6 29.5 0.188 0.328 0.869
MEX-136 0.3% Cu 3666.4 3740.2 73.8 0.154 0.153 0.475
0.5% Cu 3666.4 3696 29.6 0.114 0.204 0.635
0.3% Cu 3873.1 3907.4 34.3 0.075 0.082 0.194
MEX-138 0.3% Cu 3612.2 3868.1 255.9 0.211 0.213 0.482
0.5% Cu 3617.2 3868.1 250.9 0.214 0.215 0.486
including 3627.1 3691 63.9 0.563 0.300 0.702
and 3774.7 3799.2 24.5 0.121 0.217 0.529
>>
A "Location Map" highlighting the seven holes as well as other holes discussed in this release can be found on our Company website at www.duluthmetals.com.
For the 2008 drill program, half core samples have been prepared at ALS Chemex Ltd. laboratories in Thunder Bay and then shipped to its analytical facilities in Vancouver. Samples are being analyzed for Au, Pt, and Pd using a standard fire assay with an ICP finish and for 27 other elements using a four acid (near total) digestion and a combination of ICPMS and ICPAES. ICP over limits were re-analyzed using sodium peroxide fusion, acid dissolution followed by ICPAES. The remaining half core samples are being stored in Minnesota.
In the near term, Duluth will be utilizing one drill rig to continue in-fill drilling. The focus of the current program is on the long term development of the Nokomis Deposit which includes a pre-feasibility study of the existing Nokomis Resource, continued metallurgical testing for processing optimization, as well as environmental baseline studies required for future permitting.
David Oliver, P. Geo. and Duluth Project Manager is the Qualified Person, in accordance with NI 43-101 of the Canadian Securities Administrators, and is responsible for the technical content of this press release and quality assurance of the exploration data and analytical results.
About Duluth Metals
Duluth is committed to acquiring, exploring and developing copper, nickel and platinum group metal (PGM) deposits. Duluth's principal property is the Nokomis Deposit located within the rapidly emerging Duluth Complex mining camp in northeastern Minnesota. The Duluth Complex hosts one of the world's largest undeveloped repositories of copper, nickel and PGMs, including the world's third largest accumulation of nickel sulphides, and one of the world's largest accumulations of polymetallic copper and platinum group metals.
This document may contain forward-looking statements (including "forward-looking statements" within the meaning of the US Private Securities Litigation Reform Act of 1995) relating to Duluth's operations or to the environment in which it operates. Such statements are based on operations, estimates, forecasts and projections. They are not guarantees of future performance and involve risks and uncertainties that are difficult to predict and may be beyond Duluth's control. A number of important factors could cause actual outcomes and results to differ materially from those expressed in forward-looking statements, including those set forth in other public filings. In addition, such statements relate to the date on which they are made. Consequently, undue reliance should not be placed on such forward-looking statements. Duluth disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, save and except as may be required by applicable securities laws.
SOURCE: Duluth Metals Limited
please contact Mara Strazdins, Director of Corporate Communications, at This email address is being protected from spambots. You need JavaScript enabled to view it. or at (416) 369-1500; or Henry Sandri, President and CEO, at This email address is being protected from spambots. You need JavaScript enabled to view it.; Minnesota corporate office: telephone (651) 389-9990, Web Page: www.duluthmetals.com
