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Duluth Metals Announces High Grade Nickel Intercepts Indicative Of New Contact Zones In The Maturi Deposit

Stocks in this article: DM

"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   1.2

Historic 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 1.57

The 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

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