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Duluth Metals Highlights 155 Feet Of 1.371% Copper, 0.281% Nickel And 0.863 Grams Total Precious Metals At West Maturi In The Twin Metals Minnesota Project

Stocks in this article: DM

TORONTO, October 11, 2012 /PRNewswire/ --

  • Drill results of additional 30 holes in the Maturi Deposit of Twin Metals Minnesota
  • Drilling of the Maturi Deposit consistently returned good grades and intersections across four areas within the deposit
  • Approximately 170 additional drill holes, including the 30 holes (MEX-349 to MEX 378) featured in this press release, will be factored into the final pre-feasibility AMEC resource study due in Fall 2012
  • The final pre-feasibility AMEC resource estimate report will confirm the economic opportunities represented by this resource

Duluth Metals Limited ("Duluth Metals") (TSX: DM) (TSX: DM.U) is pleased to announce assay results for 30 additional holes from Maturi as drilling continues on the Twin Metals Minnesota Project in northeastern Minnesota. Drilling results continue to indicate continuous and relatively thick mineralization with certain higher grade zones. These recently completed holes will be incorporated into the final resource estimate to be issued by AMEC in Fall 2012.

All of the 30 holes have significant length intercepts that meet a 0.5% Cu cut-off criteria. These holes, distributed across the Maturi Resource, continue to indicate the ability to define a higher grade sub-set of the resource for early utilization. The holes are grouped into four distinct areas within the resource as shown in Figure 1 further in this press release, and are referred to as:

  1. Area 1 - shallow west Maturi
  2. Area 2 - deeper west Maturi
  3. Area 3 - central Maturi
  4. Area 4 - northeast Maturi

"This set of 30 holes highlights the continuity of this resource as well as the significant thickness of the well mineralized material", stated Vern Baker, President of Duluth Metals. "The ability to include data from a large number of additional holes and to incorporate a more detailed geological interpretation will provide a much stronger resource estimate for the Twin Metals Minnesota project this fall. The final pre-feasibility AMEC resource estimate will allow mine planning to focus on early utilization of the most economic mineralization. This resource estimate will also upgrade large areas of the resource from the Inferred to the Indicated category."

Drilling highlights in the western section of the Maturi Deposit include:

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