This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Duluth Metals Identifies Two New Mineralized Areas On Exploration Lands

TORONTO, February 5, 2013 /PRNewswire/ --

Duluth Metals Limited ("Duluth") (TSX: DM) (TSX:DM.U) is pleased to present early results from the exploration program currently underway on Duluth's 100% owned exploration properties in the Duluth Complex, northeast Minnesota.  The program has successfully identified two new mineralized areas, one consisting of platinum group element ("PGE") mineralization on the East Shore properties which cover the eastern margin of the South Kawishiwi Intrusion (SKI), and a second consisting of copper-nickel-PGE mineralization within the Nickel Lake Macrodike (NLM). The program has consisted of geologic mapping, geochemistry, geophysics, and initial drill testing of targets on the properties which cover 8,850 acres of favorable geology adjacent to Duluth's Twin Metals Project (Fig. 1).

"It's exciting that at the very early stages of our exploration program we have confirmed mineralization in hotter portions of the geological system upstream from the multi-billion ton Twin Metals Minnesota deposits," commented Dean Peterson, Senior Vice President-Exploration of Duluth Metals.

Vern Baker, President of Duluth Metals commented, "We are pleased with the early drill results which have confirmed sulphide mineralization in two key areas of this massive geological system. We will be continuing with further extensive drilling in these two areas of mineralization. One of the key focal points of the next phase of drilling is the East Shore area where higher grade PGM values have been returned from both surface outcrop and preliminary drilling. In addition, the drilling in the Nickel Lake Macrodike has identified mineralization somewhat different to the known mineralization of the adjacent Twin Metals Project. We are currently following up with down-hole EMP geophysical surveys and intend to continue drilling into the spring with holes aimed at higher grade targets within deeper sections of the NLM."

Duluth is also pleased to report that Alan King, one of the world's foremost geophysicists is being retained to consult with the Duluth Exploration team.  Mr. King's extensive worldwide expertise on nickel/copper geophysics will be a valuable addition to Duluth's exploration efforts.

Area 1 - East Shore PGE Mineralization

The first new area of mineralization comprises PGE mineralization along the eastern side of the SKI and within the adjacent anorthositic rocks on the East Shore Property as shown in Figures 1 and 2. Geological mapping and geochemical sampling of outcrops and angular boulders this summer identified mineralization along a 2000 foot strike length zone of the eastern contact of the SKI. Outcrop grab sampling returned TPM [ 1 ] values up to 3.5 grams/tonne (g/t) TPM, and float sampling up to 7.7 g/t TPM (Fig. 2a).  Significantly, some of the samples are characterized by high PGE to copper sulphide ratios. The occurrence of this mineralization suggests the potential for high-grade structure-hosted PGE mineralization, which has not been previously recognized in the Duluth Complex.

Initial drilling in the East Shore area has confirmed anomalous TPM values in a flat-lying zone in several holes with highlighted drill intercepts (see Fig. 2b) of PGM rich material as follows: (True thickness is estimated at about 100% of core length.)
  • 12-DM-007 returned a 11.7 foot intersection of 3.28 g/t TPM including 7.3 feet of 4.95 g/t TPM
  • 12-DM-006 returned a 13.9 foot intersection of 1.63 g/t TPM including 4.8 feet of  2.96 g/t TPM

Full assay results are shown in the following Table 1:
    Drill Hole From   To   Thickness  Cu   Ni   Pt    Pd    Au    TPM
               (ft)  (ft)    (ft)    (%)  (%)  (g/t) (g/t) (g/t) (g/t)
    12-DM-006  187.9 201.8   13.9    0.24 0.08  0.41  1.05  0.18  1.63
    including  192.2 197.0    4.8    0.50 0.16  0.75  1.81  0.41  2.96
    12-DM-007  187.9 199.6   11.7    0.04 0.02  0.69  2.48  0.10  3.28
    including  187.9 195.2    7.3    0.02 0.02  1.03  3.83  0.09  4.95

Area 2 - Nickel Lake Macrodike Mineralization

A systematic surficial geochemical survey in the NLM has defined a series of pronounced base-metal (Fig. 3a) and precious-metal (Fig. 3b) geochemical anomalies.  These anomalies highlight the sulfide-bearing nature of the NLM and appear to be sourced from discrete varieties of mapped sulfide-bearing bedrock located on the northern margin of the NLM. The significant base and precious metal geochemical anomaly in Section 20 is currently being drill tested.

1 of 6

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,806.58 -6.81 -0.04%
S&P 500 2,089.02 +0.15 0.01%
NASDAQ 5,119.70 +3.5570 0.07%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs