Duluth Metals Announces Results from Twin Metals Fence Drilling Program

News provided by

Duluth Metals Limited

Dec 06, 2013, 06:30 ET

  • Close spaced diamond drilling program shows good continuity of mineralization and excellent correlation between the new drilling and the existing resource model.
  • The program provides the Joint Venture team the necessary information to define the drill spacing required to upgrade Indicated to Measured Resource within the resource base.
  • AMEC is currently working on a revised Technical Report updating the current September 15, 2012 resource estimate.
  • The holes show excellent consistency within the Maturi Deposit.

TORONTO, Dec. 6, 2013 /PRNewswire/ - Duluth Metals Limited ("Duluth Metals") (TSX: DM) (TSX: DM.U) is pleased to announce that Twin Metals Minnesota LLC ("Twin Metals") has completed 35 closely spaced diamond drill holes within the Maturi Deposit. This drilling was designed to provide the Joint Venture team the necessary information to define the drill spacing required to upgrade Indicated to Measured Resource within the resource base. The program completed two crossing perpendicular fence lines, each 1000 feet in length with holes spaced 50 feet apart within the basal mineralized zones (Figs. 1-3). The program utilized four (4) existing holes in addition to the 35 new holes. Preliminary examination of drilling and assay results shows an excellent correlation between the new drilling and the existing resource model.

"It is seldom, if ever, that you can expect to match new drilling to an existing geological model with this kind of precision," said Vern Baker, President of Duluth Metals Limited. "The way this drilling matches to the existing model shows once again how this resource has a consistency and continuity beyond most metallic resources."

Figure 1 is a map showing the fence drill holes locations. Figure 2 shows a cross section along the SW to NE drill hole fence, and Figure 3 shows a cross section along the NW to SE drill hole fence.

A more detailed summary of the assay results for MEX-0442 to MEX-0467 and MEX-0469 to MEX-0477 can be found in the table below. True width is estimated at 80-100% of core length.

                                                       
Section     HOLE     Zone     From     To     Length       Cu       Ni       TPM
                  (ft)     (ft)     (ft)       (%)       (%)       (g/t)
SW-NE     MEX-0473     @0.3% Cu cut-off     689     941     252.0       0.53       0.16       0.371
SW-NE     MEX-0443     @0.3% Cu cut-off     655     834     179.0       0.66       0.20       0.504
SW-NE     MEX-0446     @0.3% Cu cut-off     639.3     824     184.7       0.75       0.25       0.574
SW-NE     MEX-0449     @0.3% Cu cut-off     636     884     248.0       0.66       0.19       0.465
SW-NE     MEX-0452     @0.3% Cu cut-off     638.75     847     208.3       0.80       0.23       0.701
SW-NE     MEX-0454     @0.3% Cu cut-off     640     845     205.0       0.77       0.22       0.535
SW-NE     MEX-0457     @0.3% Cu cut-off     659     904     245.0       0.66       0.19       0.427
SW-NE     MEX-0459     @0.3% Cu cut-off     681     906     225.0       0.67       0.20       0.498
SW-NE     MEX-0464     @0.3% Cu cut-off     699.5     962     262.5       0.74       0.22       0.519
SW-NE     MEX-0469     @0.3% Cu cut-off     707.3     986     278.7       0.72       0.21       0.482
SW-NE     MEX-0448     @0.3% Cu cut-off     660     924     264.0       0.66       0.19       0.419
SW-NE     MEX-0467     @0.3% Cu cut-off     674     991     317.0       0.63       0.19       0.425
SW-NE     MEX-0472     @0.3% Cu cut-off     689     997     308.0       0.64       0.21       0.469
SW-NE     MEX-0476     @0.3% Cu cut-off     690.7     1038.3     347.6       0.62       0.19       0.393
SW-NE     MEX-0466     @0.3% Cu cut-off     621.25     1009     387.8       0.61       0.19       0.419
SW-NE     MEX-0471     @0.3% Cu cut-off     633.75     1005.5     371.8       0.58       0.18       0.454
SW-NE     MEX-0474     @0.3% Cu cut-off     634     1007.25     373.3       0.52       0.16       0.359
                                                       
NW-SE     MEX-0463     @0.3% Cu cut-off     550.75     763     212.3       0.69       0.20       0.404
NW-SE     MEX-0462     @0.3% Cu cut-off     544     781     237.0       0.76       0.22       0.492
NW-SE     MEX-0460     @0.3% Cu cut-off     545.6     786     240.4       0.81       0.24       0.476
NW-SE     MEX-0458     @0.3% Cu cut-off     557     807     250.0       0.70       0.21       0.444
NW-SE     MEX-0456     @0.3% Cu cut-off     601.25     808     206.8       0.74       0.23       0.461
NW-SE     MEX-0453     @0.3% Cu cut-off     614.4     903     288.6       0.69       0.20       0.459
NW-SE     MEX-0451     @0.3% Cu cut-off     644     886.5     242.5       0.73       0.22       0.457
NW-SE     MEX-0445     @0.3% Cu cut-off     690     994     304.0       0.58       0.17       0.382
NW-SE     MEX-0444     @0.3% Cu cut-off     717.75     1032     314.3       0.67       0.19       0.470
NW-SE     MEX-0477     @0.3% Cu cut-off     896.75     1152     255.3       0.45       0.13       0.287
NW-SE     MEX-0475     @0.3% Cu cut-off     881.25     1108     226.8       0.61       0.18       0.415
NW-SE     MEX-0470     @0.3% Cu cut-off     932     1212.6     280.6       0.74       0.22       0.557
NW-SE     MEX-0465     @0.3% Cu cut-off     967     1243.5     276.5       0.65       0.20       0.423
NW-SE     MEX-0461     @0.3% Cu cut-off     1036     1287     251.0       0.72       0.21       0.518
NW-SE     MEX-0455-W1     @0.3% Cu cut-off     1065     1322     257.0       0.71       0.22       0.514
NW-SE     MEX-0450-W1     @0.3% Cu cut-off     1093     1358     265.0       0.61       0.18       0.433
NW-SE     MEX-0447     @0.3% Cu cut-off     1109     1398.5     289.5       0.65       0.19       0.487
NW-SE     MEX-0442     @0.3% Cu cut-off     1183     1508     325.0       0.65       0.19       0.473

**TPM = Total Precious Metals (Platinum+Palladium+Gold)
Note:   g/t = grams per tonne

Complete platinum, palladium, gold and silver and assays for MEX-0442 to MEX-0467 and MEX-0469 to MEX-0477 are as follows:

                                                                     
Section     DHID     Zone     From     To     Length     Pt       Pd       Au       Co       Ag
                  (ft)     (ft)     (ft)     (g/t)       (g/t)       (g/t)       (%)       (g/t)
SW-NE     MEX-0473     @0.3% Cu cut-off     689     941     252.0     0.102       0.220       0.049       0.01       1.8
SW-NE     MEX-0443     @0.3% Cu cut-off     655     834     179.0     0.137       0.288       0.079       0.01       2.2
SW-NE     MEX-0446     @0.3% Cu cut-off     639.3     824     184.7     0.133       0.345       0.095       0.01       2.4
SW-NE     MEX-0449     @0.3% Cu cut-off     636     884     248.0     0.112       0.272       0.081       0.01       2.4
SW-NE     MEX-0452     @0.3% Cu cut-off     638.75     847     208.3     0.300       0.325       0.076       0.01       2.9
SW-NE     MEX-0454     @0.3% Cu cut-off     640     845     205.0     0.133       0.320       0.082       0.01       2.4
SW-NE     MEX-0457     @0.3% Cu cut-off     659     904     245.0     0.104       0.253       0.070       0.01       2.4
SW-NE     MEX-0459     @0.3% Cu cut-off     681     906     225.0     0.137       0.295       0.067       0.01       2.3
SW-NE     MEX-0464     @0.3% Cu cut-off     699.5     962     262.5     0.133       0.303       0.083       0.01       2.6
SW-NE     MEX-0469     @0.3% Cu cut-off     707.3     986     278.7     0.126       0.279       0.077       0.01       2.7
SW-NE     MEX-0448     @0.3% Cu cut-off     660     924     264.0     0.101       0.244       0.075       0.01       1.8
SW-NE     MEX-0467     @0.3% Cu cut-off     674     991     317.0     0.094       0.246       0.085       0.01       2.4
SW-NE     MEX-0472     @0.3% Cu cut-off     689     997     308.0     0.119       0.276       0.074       0.01       2.7
SW-NE     MEX-0476     @0.3% Cu cut-off     690.7     1038.3     347.6     0.094       0.237       0.062       0.01       2.3
SW-NE     MEX-0466     @0.3% Cu cut-off     621.25     1009     387.8     0.118       0.244       0.057       0.01       2.1
SW-NE     MEX-0471     @0.3% Cu cut-off     633.75     1005.5     371.8     0.111       0.250       0.093       0.01       2.1
SW-NE     MEX-0474     @0.3% Cu cut-off     634     1007.25     373.3     0.088       0.214       0.057       0.01       1.6
                                                                     
NW-SE     MEX-0463     @0.3% Cu cut-off     550.75     763     212.3     0.105       0.234       0.065       0.01       2.2
NW-SE     MEX-0462     @0.3% Cu cut-off     544     781     237.0     0.134       0.275       0.083       0.01       2.4
NW-SE     MEX-0460     @0.3% Cu cut-off     545.6     786     240.4     0.113       0.271       0.091       0.01       2.8
NW-SE     MEX-0458     @0.3% Cu cut-off     557     807     250.0     0.115       0.260       0.069       0.01       2.4
NW-SE     MEX-0456     @0.3% Cu cut-off     601.25     808     206.8     0.107       0.277       0.077       0.01       2.6
NW-SE     MEX-0453     @0.3% Cu cut-off     614.4     903     288.6     0.115       0.268       0.076       0.01       2.4
NW-SE     MEX-0451     @0.3% Cu cut-off     644     886.5     242.5     0.115       0.279       0.064       0.01       2.5
NW-SE     MEX-0445     @0.3% Cu cut-off     690     994     304.0     0.095       0.223       0.064       0.01       1.7
NW-SE     MEX-0444     @0.3% Cu cut-off     717.75     1032     314.3     0.132       0.270       0.068       0.01       2.3
NW-SE     MEX-0477     @0.3% Cu cut-off     896.75     1152     255.3     0.074       0.170       0.043       0.01       1.3
NW-SE     MEX-0475     @0.3% Cu cut-off     881.25     1108     226.8     0.110       0.246       0.058       0.01       1.8
NW-SE     MEX-0470     @0.3% Cu cut-off     932     1212.6     280.6     0.147       0.306       0.103       0.01       2.9
NW-SE     MEX-0465     @0.3% Cu cut-off     967     1243.5     276.5     0.111       0.245       0.067       0.01       2.3
NW-SE     MEX-0461     @0.3% Cu cut-off     1036     1287     251.0     0.127       0.308       0.083       0.01       2.5
NW-SE     MEX-0455-W1     @0.3% Cu cut-off     1065     1322     257.0     0.123       0.311       0.080       0.01       2.6
NW-SE     MEX-0450-W1     @0.3% Cu cut-off     1093     1358     265.0     0.121       0.246       0.067       0.01       2.1
NW-SE     MEX-0447     @0.3% Cu cut-off     1109     1398.5     289.5     0.131       0.284       0.073       0.01       2.2
NW-SE     MEX-0442     @0.3% Cu cut-off     1183     1508     325.0     0.117       0.282       0.074       0.01       2.4

Twin Metals' resource estimation consultant, AMEC E&C Services Inc. (AMEC), is working on a revised resource estimate that will incorporate all drilling completed since September 2012. In addition to results from the fence drilling program and revised resource definitions, the estimate will incorporate results of an ongoing drill program designed to upgrade targeted areas of the Maturi resource base from Inferred to Indicated Resource classification. The updated resource estimate and revised Technical Report are expected in the spring of 2014.

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 of 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 four acid (near total) digestion followed by ICP-MS. The remaining half core samples are being stored in Minnesota.

Drill collar information for MEX-0442 to MEX-0467 and MEX-0469 to MEX-0477 is shown in the table below:

                                 
Hole       Easting       Northing       Azimuth       Inclination
                        (bearing)       (degrees)
MEX-0442       2954436       805006       002       -89
MEX-0443       2953985       805133       272       -65
MEX-0444       2954105       805400       084       -90
MEX-0445       2954104       805401       333       -88
MEX-0446       2953985       805134       279       -67
MEX-0447       2954436       805007       320       -85
MEX-0448       2954104       805402       321       -84
MEX-0449       2953986       805135       287       -70
MEX-0450-W1       2954436       805007       320       -83
MEX-0451       2954103       805402       321       -80
MEX-0452       2953986       805136       298       -72
MEX-0453       2954102       805403       321       -74
MEX-0454       2953986       805138       310       -74
MEX-0455-W1       2954436       805007       320       -81
MEX-0456       2954102       805404       321       -70
MEX-0457       2953988       805139       323       -74
MEX-0458       2954102       805404       321       -65
MEX-0459       2953989       805140       336       -75
MEX-0460       2954101       805405       321       -59
MEX-0461       2954436       805008       320       -78
MEX-0462       2954099       805406       321       -53
MEX-0463       2954098       805408       321       -47
MEX-0464       2953989       805142       357       -71
MEX-0465       2954435       805009       320       -74
MEX-0466       2954259       805618       154       -89
MEX-0467       2954095       805386       002       -82
MEX-0468       2955379       803274       092       -71
MEX-0469       2953994       805141       004       -69
MEX-0470       2954434       805009       320       -71
MEX-0471       2954260       805619       050       -86
MEX-0472       2954098       805388       017       -81
MEX-0473       2953980       805128       267       -63
MEX-0474       2954261       805619       050       -81
MEX-0475       2954434       805009       320       -68
MEX-0476       2954098       805383       031       -74
MEX-0477       2954434       805010       320       -63

*Collar easting and northing coordinates are given as feet in Minnesota North State Plane Coordinates, NAD83 datum.

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

Duluth Metals Limited is committed to acquiring, exploring and developing copper, nickel and platinum group metal (PGM) deposits. Duluth Metals has a joint venture with a wholly-owned subsidiary of Antofagasta plc (Antofagasta) on the Twin Metals Minnesota Project, located within the rapidly emerging Duluth Complex mining camp in north-eastern 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. Aside from the joint venture, Duluth Metals retains a 100% position on approximately 40,000 acres of mineral interests on exploration properties adjacent to and nearby the Twin Metals Minnesota LLC joint venture.

About Twin Metals Minnesota LLC

Twin Metals Minnesota, LLC, is a joint venture company, 60 percent owned by Duluth Metals Limited and 40 percent by Antofagasta. Twin Metals was formed in 2010 to pursue the development and operation of a copper, nickel and platinum group metals (strategic metals) underground mining project within the Duluth Complex in northeastern Minnesota. Twin Metals holds mineral and land assets of approximately 32,000 acres of leased and permitted land, including mineral resources prepared in compliance with the requirements of NI 43-101.

This press release contains forward-looking statements (including "forward-looking information" within the meaning of applicable Canadian securities legislation and "forward-looking statements" within the meaning of the US Private Securities Litigation Reform Act of 1995) relating to, among other things, the results of drilling operations of Duluth Metals and exploration and mine development.  Generally, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved".  Duluth Metals has relied on a number of assumptions and estimates in making such forward-looking statements, including, without limitation, the prices of copper, nickel and platinum group metals (PGMs) and the costs associated with continuing exploration and mining development.  Such assumptions and estimates are made in light of the trends and conditions that are considered to be relevant and reasonable based on information available and the circumstances existing at this time. A number of risk factors may cause actual results, level of activity, performance or outcomes of such exploration and/or mine development to be materially different from those expressed or implied by such forward-looking statements including, without limitation, whether such discoveries will result in commercially viable quantities of such mineralized materials, the possibility of changes to project parameters as plans continue to be refined, the ability to execute planned exploration and future drilling programs, possible variations of copper, nickel and PGM grade or recovery rates, the need for additional funding to continue exploration efforts, changes in general economic, market and business conditions, and those other risks set forth in Duluth Metals' most recent annual information form under the heading "Risk Factors" and in its other public filings.  Statements related to "reserves" and "resources" are deemed forward-looking statements as they involve the implied assessment, based on realistically assumed and justifiable technical and economic conditions, that an inventory of mineralization will become economically extractable.  Forward-looking statements are not guarantees of future performance and such information is inherently subject to known and unknown risks, uncertainties and other factors that are difficult to predict and may be beyond the control of Duluth Metals.  Although Duluth Metals has attempted to identify important risks and factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors and risks that cause actions, events or results not to be as anticipated, estimated or intended.  Consequently, undue reliance should not be placed on such forward-looking statements. In addition, all forward-looking statements in this press release are given as of the date hereof.  Duluth Metals 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.  The forward-looking statements contained herein are expressly qualified by this disclaimer.

 

SOURCE Duluth Metals Limited

Image with caption: "Figure 1: Fence Drill Hole Locations. (CNW Group/Duluth Metals Limited)". Image available at: http://photos.newswire.ca/images/download/20131206_C8313_PHOTO_EN_34622.jpg

Image with caption: "Figure 2: SW to NE fence drill hole cross section. (CNW Group/Duluth Metals Limited)". Image available at: http://photos.newswire.ca/images/download/20131206_C8313_PHOTO_EN_34623.jpg

Image with caption: "Figure 3: NW to SE fence drill hole cross section (CNW Group/Duluth Metals Limited)". Image available at: http://photos.newswire.ca/images/download/20131206_C8313_PHOTO_EN_34624.jpg

WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?

icon3
440k+
Newsrooms &
Influencers
icon1
9k+
Digital Media
Outlets
icon2
270k+
Journalists
Opted In
GET STARTED