Murchison Minerals (TSX-V:MUR, OTCQB:MURMF, TSX-V:MUR.V) Ltd said it has confirmed shallow nickel, copper and cobalt sulphide mineralization at its HPM project in Quebec.
Drilling at the PYC target three broad zones of nickel-copper-cobalt mineralization totaling 62.21 metres (m) of composite thickness, including 7.41m grading 0.23% nickel equivalent (NiEq), including 1.8m at 0.52% NiEq.
Another hole intersected five broad zones of the same mineralization totaling 69.9m of composite thickness, including 39.5m grading 0.24% NiEq, including 7.6m at 0.37% NiEq and 1.26% NiEq over 0.58m.
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The PYC target is one of multiple nickel-copper-cobalt prospects on the 100%-owned HPM project, which is located 8 kilometres from a rail line near a hydroelectric power generating facility in Quebec.
The 576-square-kilometre HPM project is home to at least 50 defined anomalies and targets that range from bulk-tonnage low-grade targets like PYC, through to high-grade showings like Barre de Fer, located 1.5 kilometres from PYC.
"The price of nickel is at decade highs, and furthermore the compound annual demand for class one nickel is projected to continue to strengthen throughout the decade. As a result, Murchison is very well positioned to strengthen shareholder value through unlocking the mining-camp scale nickel-copper-cobalt sulphide mineralization at HPM,” Murchison CEO Troy Boisjoli said in a statement.
“Discovering responsibly-sourced energy metals from stable jurisdictions - like those we are exploring for at the HPM Project in Quebec and BMK in Saskatchewan - is our focus," he added.
Murchison has assays pending from the remaining six holes at the PYC target.
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