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Duluth Metals Announces Discovery Immediately Southeast Of Teck's Mesaba Project

Stocks in this article: DM

"This spring our geologic team identified an opportunity to explore for Cu-Ni-Pt-Pd-Au mineralization on our Rook property. The Rook property covers an area where the South Kawishiwi Intrusion and the Partridge River Intrusion meet. These excellent drill results indicate there is significant potential for the Mesaba deposit to extend down dip onto our property position," stated Vern Baker, President of Duluth Metals. "We look forward to developing a follow-up program that will include geophysical work and additional drilling."

The Company's 2013 Exploration Program is focused on selected areas within their large prospective exploration package. During the 2013 summer season, the exploration work is concentrating on compiling, integrating and interpreting all drilling, geochemical, geophysical and geological data acquired from their previous 2012-13 drilling and exploration program. In addition, the Company has commenced a comprehensive field program comprised of detailed geologic mapping, rock chip and glacial till geochemical sampling. The Company has announced four other areas of new mineralization within the Duluth Complex exploration holdings in addition to the latest discovery on the Rook Property.

The Duluth Complex hosts some of the world's largest undeveloped resources of copper, nickel and PGMs. In comparison to worldwide deposits, the Duluth Complex is estimated to have the world's third largest accumulation of nickel sulphides and the world's second largest accumulation of polymetallic copper and platinum group metals. The Duluth Complex hosts a number of known copper-nickel-platinum-palladium-gold deposits. Figure 1 above illustrates the property and drill hole locations.

Full assay results for holes 13-RK-01 and 13-RK-02 are shown as follows in Table 1 and Table 2. The true thickness is estimated at approximately 100% of core length. The assay results in Tables 1 and 2 include averages of the original plus extensive check assays.

Table 1- Rook Property Summary Assay Results:

      HOLE       Zone      From        To       Length      Cu       Ni     TPM
                           (ft)       (ft)       (ft)      (%)      (%)    (g/t)
                359 ft.
    13-RK-01     hole                      no significant assays
                g/t TPM
    13-RK-02    cut-off    933.9     946.6      12.7      0.49     0.11     4.69
                g/t TPM
    including   cut-off    940.7     946.6       5.9      0.88     0.18     8.16
    13-RK-02    cut-off   2259.9      2388     128.1      0.53     0.14     0.90
    including   cut-off   2259.9    2339.5      79.6      0.66     0.16     1.16
    13-RK-02    cut-off   2629.1    2691.4      62.3      0.36     0.08     0.38
    13-RK-02    cut-off   2864.6      3053     188.4      0.70     0.18     0.85
    including   cut-off     2958      3053        95      0.95     0.26     0.94

(TPM = Platinum+Palladium+Gold)

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