"Within a massive mineralized system like Twin Metals, our geologists have always believed there is potential for higher grade pods of mineralization," stated Christopher Dundas, Chairman and CEO of Duluth Metals Limited. "These new off-hole anomalies suggest that the conductive zone is extensive and requires additional drilling to test the central portions for massive and semi-massive sulphides."
"This drilling shows that the geologic potential of the Twin Metals Project can continue to evolve," commented, Vern Baker, President of Duluth Metals. "We see the possibility of higher grade massive sulphide zones within the TMM project area. The opportunity to find and define these zones may add a new dimension to what is already a world class project."
Other higher grade nickel intersections have been reported on the margins of the conductive zone in previous holes drilled by Twin Metals. MEX-276 intersected 5 feet of 1.76% nickel, 0.73% copper, 0.31 g/t TPM; MEX-439M-W1 intersected 5 feet of 1.56% nickel, 0.55% copper, 0.54 g/t TPM; and MEX-439M-W3 intersected 5 feet of 1.18% nickel, 0.98% copper, 0.36 g/t TPM.
In addition, historic hole DU-13, which is located approximately 3000 feet to the south within a mineralized area previously referred to as the Nickel Ridge Area, reported 10 feet of 1.57% nickel, 1.03% copper. (See Duluth Metals press release dated August 18, 2009.) There is no drilling between this hole and the newly identified mineralization.Figure 1 shows the two reported holes, historic drill holes and the conductive zones. A more detailed summary of the assay results for MEX-468 and nearby nickel-rich footwall mineralization including MEX-276-W1 results can be found in the table below. True width is estimated at about 80-90% of core length.
HOLE Zone From To Length Cu Ni Co TPM (ft) (ft) (ft) (%) (%) (%) (g/t) MEX-0276 @1.0% Ni cut-off 3003 3008 5 0.73 1.76 0.05 0.31 MEX-0276-W1 @0.5% Ni cut-off 3113 3139.5 26.5 0.68 3.93 0.13 0.43 Including @1.0% Ni cut-off 3118 3139.5 21.5 0.76 4.66 0.15 0.50 MEX-0439M-W1 @0.5% Ni cut-off 2858 2893 35 0.42 0.66 0.02 0.31 Including @1.0% Ni cut-off 2878 2883 5 0.55 1.56 0.05 0.54 MEX-0439M-W3 @0.5% Ni cut-off 2868 2893 25 0.56 0.76 0.03 0.32 Including @1.0% Ni cut-off 2888 2893 5 0.98 1.18 0.04 0.36 MEX-0468 @0.5% Ni cut-off 3099 3124 25 0.71 1.14 0.04 0.41 Including @1.0% Ni cut-off 3109 3124 15 0.99 1.52 0.06 0.50**TPM = Total Precious Metals (Platinum+Palladium+Gold) Note: g/t = grams per tonne Complete platinum, palladium, gold and silver and assays for MEX-468 and nearby nickel-rich footwall mineralization including MEX-276-W1 are as follows:
HOLE Zone From To Length Pt Pd Au Ag (ft) (ft) (ft) (g/t) (g/t) (g/t) (g/t) MEX-0276 @1.0% Ni cut-off 3003 3008 5 0.08 0.21 0.03 0.6 MEX-0276-W1 @0.5% Ni cut-off 3113 3139.5 26.5 0.1 0.32 0.01 <0.05 Including @1.0% Ni cut-off 3118 3139.5 21.5 0.11 0.38 0.01 0.1 MEX-0439M-W1 @0.5% Ni cut-off 2858 2893 35 0.08 0.2 0.02 0.5 Including @1.0% Ni cut-off 2878 2883 5 0.13 0.39 0.02 0.7 MEX-0439M-W3 @0.5% Ni cut-off 2868 2893 25 0.09 0.21 0.02 0.6 Including @0.5% Ni cut-off 2888 2893 5 0.09 0.25 0.02 1.0 MEX-0468 @0.5% Ni cut-off 3099 3124 25 0.10 0.28 0.04 0.9 Including @1.0% Ni cut-off 3109 3124 15 0.11 0.34 0.05 1.2Historic drill results referenced in Duluth Metals August 18, 2009 press release is as follows:
HOLE Zone From To Length Cu Ni (ft) (ft) (ft) (%) (%) DU-13 @0.5% Cu cut-off 3540 3600 60 0.58 0.46 including @1.0% Ni cut-off 3540 3550 10 1.03 1.57The Twin Metals Minnesota Project covers over 32,000 acres of land/mineral interests and consolidates the largest base and precious metal land position in Minnesota. This extensive land position provides Twin Metals with the platform to plan and develop one the world's largest copper-nickel-PGM deposits within a new emerging mining belt in Minnesota, USA. For the 2013 Drill Program, half core samples are being prepared at ALS Minerals laboratories in Thunder Bay and then shipped to its analytical facilities in Vancouver. Samples are being analyzed for Au, Pt, and Pd using a 30g standard fire assay with an ICP-AES finish and for 33 other elements using a four acid (near total) digestion and a combination of ICP-MS and ICP-AES. ICP over-limits for copper and nickel are re-analyzed using dissolution four acid (near total) digestion followed by ICP-MS. The remaining half core samples are being stored in Minnesota. Phillip Larson, P. Geo. is the Qualified Person for Duluth Metals and Senior Geologist for Duluth Metals, in accordance with NI 43-101 of the Canadian Securities Administrators, and is responsible for Duluth Metals technical content of this press release and quality assurance of the exploration data and analytical results. About Duluth Metals Limited
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV