Murchison Minerals Ltd (TSX-V:MUR, OTCQB:MURMF, TSX-V:MUR.V) has announced results from the second diamond drillhole at the Barre de Fer (BDF) zone, as part of the 2022 summer exploration program at its 100%-owned Haut-Plateau de la Manicouagan (HPM) project in Quebec, showing substantial nickel, copper and cobalt mineralization.
The BDF22-002 hole was drilled to a depth of 452 metres (m) and intersected two broad zones of nickel-copper-cobalt sulphide bearing mineralization totalling 175.15m of composite thickness. The results were analysed using portable x-ray fluorescence (pXRF), and showed a pXRF estimate of 1.39% nickel equivalent (or 4.14% copper equivalent), including 21m at 3.43% nickel equivalent (or 10.25% copper equivalent).
The hole successfully confirmed mineralization down dip from DH-151-02, exceeding expectations. The hole also confirmed mineralization up dip of DH-151-05EX.
READ: Murchison Minerals hits extensive sulphide mineralization at BDF zone on its HPM project in Quebec
The majority of the mineralization is outside of the previously modelled zone.
Murchison said that pXRF results provide only an indication of the amount of nickel, copper and cobalt present. Certified assaying of the core samples is still required to accurately determine the amount of mineralization. The company said it has implemented rigorous quality assurance and control procedures using a direct rock sampler to produce reasonably representative preliminary.
Murchison Minerals CEO Troy Boisjoli said the objective of the 2022 drill program was to expand near-surface high-grade nickel, copper, cobalt mineralization at the Barre de Fer Zone and the holes to-date are delivering on that objective.
“The pXRF results from BDF22-002 have exceeded our expectations in terms of estimated grade and thickness – 121.20m estimated at 1.41% pXRF nickel equivalent (Ni Eq) or 4.14% copper equivalent (Cu Eq) – is a very significant nickel bearing magmatic sulphide intersection and I congratulate Murchison's technical team. The 2022 drilling results will enable to company to materially advance the nickel-copper-cobalt HPM Project, at a time when the world is desperate for future supply of critical minerals," Boisjoli said in a statement.
Murchison Minerals vice-president of exploration John Shmyr said the results from BDF22-002 are exceptional and further indicate the size and scale of the sulphide mineralizing system that is present at BDF.
“Our geologic understanding has grown significantly throughout the drill campaign. Our work further confirms BDF as magmatic chonolith type system and other chonolith type deposits like Voisey's Bay are composed of multiple zones, which has the technical team excited about the exploration potential," said Shmyr.
Burlington, Ontario-based Murchison said the mineralization observed in BDF22-002 occurs within two separate zones. The upper zone comprises multi-metre intervals of massive and breccia sulphide within zones of stringer and disseminated sulphide mineralization hosted in peridotite and norite.
The lower zone of mineralization (303.55m to 357.50m) comprises primarily disseminated sulphide, over a broad 53.95m-wide zone hosted within an olivine gabbronorite.
Murchison said that during the 2022 summer exploration program, a total of 13 diamond drill holes were completed, comprising 4,316 metres. This includes ten drillholes at BDF, and an additional three holes at Syrah.
The drill core is currently undergoing processing and pXRF results are being determined. Murchison said the results will be released as soon as the data has been verified. The previously-released pXRF results from BDF22-001 demonstrated significant expansion below the current modeled mineral zones. These results paired with the results from BDF22-002, highlights significant potential for expansion of the BDF mineral zone and the company said it considers these results exceptional.
The company said it is progressing towards establishing a maiden resource for BDF by early first quarter of 2023.
Samples from BDF22-002 have been sent to the Saskatchewan Research Council's Geoanalytical Laboratory for commercial certified assaying and Murchison is awaiting the results.
Contact the author at susie@proactiveinvestors.com