TORONTO, May 22, 2013 /PRNewswire/ --
- Drill results of an additional 23 holes (MSW-0021 to MSW-0044) for a total of 43 holes in the Maturi Southwest Exploration Target Area southwest of the Maturi deposit on the Twin Metals Minnesota Project (following Duluth Metals press release dated April 16, 2013 on holes MSW-0001 to MSW-0020)
- TMM initiated this drilling program to evaluate the area for potential additional resources that may be used to enhance early production rates.
- The AMEC 2012 Technical Report [ 1 ] outlined four Exploration Targets areas surrounding and adjacent to the Maturi and Birch Lake deposits. These four Exploration Target areas occur on approximately 12% of the footprint of the prospective South Kawishiwi Intrusion (SKI) on the Twin Metals Minnesota property block. The SKI hosts all the mineral resources on the Twin Metals Project prepared in compliance with the requirements of NI 43-101.
Duluth Metals Limited ("Duluth Metals") (TSX: DM) (TSX: DM.U) is pleased to announce assay results for the next 23 holes, MSW-0021 to MSW-0044, in the northern portion of the Maturi Southwest Exploration Target area within the Twin Metals Minnesota Project ("TMM") in northeastern Minnesota. Assay results from the relatively shallow drilling highlight thick mineralized intersections which include:
- MSW-0025 returned a 183.5 foot intersection of 0.62% copper, 0.22% nickel, 2.3 g/t silver and 0.644 grams TPM (TPM = Platinum+Palladium+Gold) at a 0.3% Cu cut-off including a 70 foot intersection of 0.83% copper, 0.28% nickel, 3.0 g/t silver and 0.876 grams TPM at a 0.5% Cu cut-off;
- MSW-0031 returned a 275.5 foot intersection of 0.57% copper, 0.19% nickel, 2.0 g/t silver and 0.338 grams TPM at a 0.3% Cu cut-off including a 50.5 foot intersection of 0.82% copper, 0.25% nickel, 3.0 g/t silver and 0.490 grams TPM at a 0.5% Cu cut-off; and
"The completion of this drilling program will allow TMM to evaluate the area for potential additional resources that may enhance early production rates. The results of the drilling have been excellent and these latest holes continue to confirm the presence of mineralization at shallow depths between the Maturi Deposit and the Birch Lake Deposit." stated Vern Baker, President of Duluth Metals. "Currently different mining and production scenarios are being evaluated by TMM within the pre-feasibility study."
[ 1 ] Full independent NI 43-101 Technical Report completed by AMEC E&C Services Inc. (AMEC) by a team led by Dr. Harry Parker entitled "Maturi, Birch Lake, and Spruce Road Cu-Ni-PGE Projects, Ely, Minnesota, USA, NI 43-101 Technical Report" with an effective date of 15 September 2012 is filed on SEDAR ( http://www.sedar.com ).Figure 1 is a map illustrating the location of 23 drill holes reported in this press release which can be found on the Company website under this press release at http://www.duluthmetals.com. A more detailed summary of the assay results for MSW-0021 to MSW-0044 can be found in Tables 1 and 2 below. True thickness is estimated at about 90% of core length:
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