21/03/2007
TORONTO, March 21 /PRNewswire/ -- Duluth Metals Limited ("Duluth") (TSX: DM) (TSX:DM.U) today announced
assay results for four new holes (MEX-15, 16, 17 and 18) completed during
the current 100,000 foot winter drilling program on Duluth's Maturi Extension
project near Ely, Minnesota.
All drill holes intersected significant mineralization with both MEX-15
and MEX-16 hitting sections of massive sulphide. The results include MEX-16,
which intersected a wide zone of mineralization in the northeastern part of
the property approximately 1200 metres northeast of any previous drilling,
and MEX-15, MEX-17, and MEX-18 which all intersected mineralization on the
western part of the property. Drilling is continuing with four drills as part
of the forty hole winter drilling program.
MEX-16, intersected 437.9 feet of 0.498% copper, 0.172% nickel and
0.272 grams per tonne total precious metals. Included in that interval was
78.7 feet of 0.758% Cu, 0.246% Ni and 0.344 grams per tonne of total precious
metals. (At a 0.5% copper cut-off.) Below the main mineralized interval the
hole also intersected 3.4 feet of 8.98% Cu and 0.205% Ni and 2.986 grams of
total precious metals.
MEX-15, MEX-17, and MEX-18 were drilled on the western part of the
property, where the objective of the current drill program is to define a NI
43-101 compliant resource. At a 0.5% copper cut-off the intersections are as
follows:
- 70 feet of 1.278% Cu, 0.295% Ni and 1.085 grams per tonne total
precious metals in MEX-15, within a total mineralized interval of
155 feet grading 0.828% Cu, 0.235% Ni, and 0.762 grams per tonne
total precious metals. This interval includes 10 feet of 4.94% Cu,
0.643% Ni and 3.348 grams per tonne total precious metals.
- 49.2 feet of 0.707% Cu, 0.225% Ni and 0.909 grams per tonne total
precious metals in MEX-17, within a total mineralized interval of
176.1 feet grading 0.454% Cu, 0.133% Ni, and 0.443 grams per tonne
total precious metals.
- 45 feet of 0.915% Cu, 0.253% Ni and 0.926 grams per tonne total
precious metals and 55 feet of 0.858% Cu, 0.138% Ni and 0.838 grams
per tonne total precious metals in MEX-18, both within a total
mineralized interval of 200 feet grading 0.578% Cu, 0.147% Ni, and
0.561 grams per tonne total precious metals.
True thickness is estimated at about 90% of core length. The following
table contains a more detailed summary of the drill intercepts:
-------------------------------------------------------------------------
Hole Zone From To Length Copper Nickel
(feet) (feet) (feet) (%) (%)
-------------------------------------------------------------------------
MEX-15 Total
Mineralized
Zone (at) 0.3%
copper 2768.0 2923.0 155.0 0.828 0.235
-------------------------------------------------------------------------
including
(at) 0.5%
copper cut-off 2808.0 2878.0 70.0 1.278 0.295
-------------------------------------------------------------------------
which
includes 2863.0 2873.0 10.0 4.940 0.643
-------------------------------------------------------------------------
MEX-16 Total
Mineralized
Zone (at) 0.3%
Cu 1083.4 1521.3 437.9 0.498 0.172
------------------------------------------------------------------------
including
------------------------------------------------------------------------
(at) 0.5%
copper cut-off 1122.7 1171.9 49.2 0.545 0.198
------------------------------------------------------------------------
(at) 0.5%
copper cut-off 1226.1 1304.8 78.7 0.758 0.246
------------------------------------------------------------------------
(at) 0.5%
copper cut-off 1457.3 1516.3 59.0 0.545 0.173
------------------------------------------------------------------------
MEX-16 1811.5 1816.5 5.0 1.000 0.252
------------------------------------------------------------------------
MEX-16 1944.4 1947.8 3.4 8.980 0.205
------------------------------------------------------------------------
------------------------------------------------------------------------
MEX-17 Total
Mineralized
Zone (at) 0.3%
copper 2554.5 2730.6 176.1 0.454 0.133
------------------------------------------------------------------------
including
------------------------------------------------------------------------
(at) 0.5%
copper cut-off 2671.6 2720.8 49.2 0.707 0.225
------------------------------------------------------------------------
MEX-18 Total
Mineralized
Zone (at) 0.3%
copper 2558.0 2758.0 200.0 0.578 0.147
------------------------------------------------------------------------
including
------------------------------------------------------------------------
(at) 0.5%
copper cut-off 2593.0 2638.0 45.0 0.915 0.253
------------------------------------------------------------------------
(at) 0.5%
copper cut-off 2703.0 2758.0 55.0 0.858 0.138
------------------------------------------------------------------------
-------------------------------------------------------------------------
Hole Zone Palladium Platinum Gold TPM(x) Silver
(g/t) (g/t) (g/t) (g/t) (g/t)
------------------------------------------------------------------------
MEX-15 Total
Mineralized
Zone (at) 0.3%
copper 0.446 0.218 0.098 0.762 4.6
------------------------------------------------------------------------
including
(at) 0.5%
copper cut-off 0.618 0.323 0.144 1.085 4.4
------------------------------------------------------------------------
which
includes 1.707 1.178 0.464 3.348 19.6
------------------------------------------------------------------------
MEX-16 Total
Mineralized
Zone (at) 0.3%
Cu 0.159 0.067 0.046 0.272 1.6
------------------------------------------------------------------------
including
------------------------------------------------------------------------
(at) 0.5%
copper cut-off 0.191 0.104 0.046 0.341 1.7
------------------------------------------------------------------------
(at) 0.5%
copper cut-off 0.209 0.075 0.060 0.344 2.5
------------------------------------------------------------------------
(at) 0.5%
copper cut-off 0.185 0.077 0.067 0.328 1.8
------------------------------------------------------------------------
MEX-16 0.278 0.062 0.075 0.415 3.4
------------------------------------------------------------------------
MEX-16 1.980 0.618 0.388 2.986 77.7
------------------------------------------------------------------------
------------------------------------------------------------------------
MEX-17 Total
Mineralized
Zone (at) 0.3%
copper 0.264 0.117 0.062 0.443 1.5
------------------------------------------------------------------------
including
------------------------------------------------------------------------
(at) 0.5%
copper cut-off 0.539 0.248 0.122 0.909 2.3
------------------------------------------------------------------------
MEX-18 Total
Mineralized
Zone (at) 0.3%
copper 0.336 0.149 0.076 0.561 2.0
------------------------------------------------------------------------
including
------------------------------------------------------------------------
(at) 0.5%
copper cut-off 0.580 0.236 0.110 0.926 3.0
------------------------------------------------------------------------
(at) 0.5%
copper cut-off 0.463 0.241 0.134 0.838 3.1
------------------------------------------------------------------------
(x)Total Precious Metals (TPM) (equal sign) Platinum+Palladium+Gold
For the winter drill program, half core samples were prepared at ALS
Chemex Ltd. Laboratories in Thunder Bay and then shipped to its analytical
facilities in Vancouver. Samples were analyzed for Au, Pt, Pd using a
standard fire assay with an ICP finish and for 27 other elements using a four
acid (near total) digestion and a combination of ICPMS and ICPAES. ICP over
limits were re-analyzed using sodium peroxide fusion, acid dissolution
followed by ICPAES. The remaining half core samples are being stored in
Minnesota.
"We are extremely pleased with these results." stated Dr. Henry (Rick)
J. Sandri, President and CEO of Duluth. "Not only do these holes confirm very
wide mineralized intersections and good grades, but MEX 15 and MEX 16 both
give us interesting sections of massive sulphide."
Duluth is currently working on holes MEX-26 through MEX-29; core from
MEX-19 through MEX-25 are in various stages of geological evaluation and
assaying. Duluth has engaged Scott Wilson Roscoe Postle Associates Inc.
(Scott Wilson RPA) to conduct a Mineral Resource Estimate and prepare a
Technical Report which complies with NI 43-101 requirements. It is expected
This estimate will be completed during June with a report to follow in late
July 2007.
David Oliver, P. Geo. is the Qualified Person for Duluth, in accordance
with NI 43-101 of the Canadian Securities Administrators, and is responsible
for the technical content of this press release and quality assurance of the
exploration data and analytical results. The Company will be issuing periodic
updates on the drilling and releasing assay results in groupings of 4-6
holes.
About Duluth Metals
Duluth is committed to acquiring, exploring and developing copper,
nickel and platinum group metal (PGM) deposits. Duluth's principal property
is the Maturi Extension Property located within the rapidly emerging Duluth
Complex mining camp in northeastern Minnesota. The Duluth Complex hosts one
of the world's largest undeveloped repositories of copper, nickel and PGMs,
including the world's third largest accumulation of nickel sulphides,
and one of the world's largest accumulations of polymetallic copper and
platinum group metals. Duluth is pursuing other advanced stage nickel,
copper and PGM projects which can be put into production within a suitable
time frame.
This document may contain forward-looking statements (including
"forward-looking statements" within the meaning of the US Privacy Securities
Reform Act of 1995) relating to Duluth's operations or to the environment in
which it operates. Such statements are based on operations, estimates,
forecasts and projections. They are not guarantees of future performance and
involve risks and uncertainties that are difficult to predict and may be
beyond Duluth's control. A number of important factors could cause actual
outcomes and results to differ materially from those expressed in
forward-looking statements, including those set forth in other public
filings.In addition, such statements relate to the date on which they are
made.Consequently, undue reliance should not be placed on such
forward-looking statements. Duluth disclaims any intention or obligation to
update or revise any forward-looking statements, whether as a result of new
information, future events or otherwise, save and except as may be required
by applicable securities laws.
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