![](../style/all/img/drapeau/grand/Canada.gif) | | Publié le 12 février 2009 | Announces Drilling at Abbott Lake, SK |
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![Murgor](http://www.murgor.com/themes/murgor-accueil/images/murgor_Template_Header.jpg)
Kingston, Ontario, February 12, 2009 - Murgor
Resources Inc. (MGR: TSX-V) today announced it will start a drilling program at
its Fon property in Saskatchewan, on February 23rd, 2009. The drilling
program will be testing a target defined by a large electromagnetic geophysical
anomaly detected from surface by InfinitEM and confirmed by borehole Pulse EM
method. The anomaly is located less than 100 metres on strike and
to the east of the Abbott Lake deposit, at a vertical depth of 400
metres. This anomaly is interpreted as having a strike extent of 600
metres and a vertical extent of up to 200 metres. It occurs down dip from a
highly prospective mineralized felsic fragmental rock unit, similar in
character to felsic units present at the 777 mine. The Abbott Lake
mineralization consists of sulphide stringers with pyrite, chalcopyrite and
sphalerite, grading on average 2.75% Cu, 1.10% Zn, 51.08 g/t Ag and 0.308 g/t
Au. The stringer zone is believed to represent the feeder zone to a
deeper and yet to be discovered massive sulphide deposit which constitutes the
drill target.
About the Fon Property: The Fon property is located in north-eastern
Saskatchewan, approximately 40 kilometres west of the town of Flin Flon,
Manitoba and two kilometres south of Highway 106. Murgor is earning a
100% interest from HudBay Minerals, in approximately 24 square kilometres of
property where the Fon and Abbott Lake deposits are located. To
earn a 65% buyback on the property, HudBay must bring the deposit into
production and finance Murgor's share of development and capital expenditures
to production. An additional 14.4 square kilometre area of the property
is wholly owned by Murgor.
The Fon deposit comprises multiple mineralized lenses occurring over a
strike length of 1.3 kilometres, a depth extent of at least 760 metres, and
where the current NI 43-101 compliant Inferred resource is as follows (see
SEDAR for complete study):
CUT-OFF
TONNAGE
GRADE
CONTAINED METAL
GRADE*
( Metric Tonnes)
Zn
Cu
Ag
Zn
(lb) Cu
(lb) Ag (oz)
1% Zn
4,543,126
3.73% 0.25% 10.88
g/t
373,588,445 25,039,440 1,752,761
3.5%
Zn
1,
677,377
6.79% 0.27%
16.78 g/t
227,787,797 9,057,836
905,784
In other news: Murgor's Board of
Directors has amended Murgor's 2004 Stock Option Plan by increasing the number
of shares that may be issued under the Plan from 997,526 to 4,114,056, in light
of the increased number of Murgor's issued and outstanding shares since the
establishment of the Plan. Murgor has received all regulatory approvals
for the amendment to the 2004 Stock Option Plan.
The total number of shares that can be issued by Murgor under the 2004
Stock Option Plan, as amended, is equal to 10% of Murgor's 41,140,560 issued
and outstanding shares.
Murgor's Board of Directors has also granted 2,576,005 stock options to
directors, officers and employees of the Corporation. The options were
granted under Murgor's 2004 Stock Option Plan. The exercise price of the
options is $0.10 per share, representing a 20% premium over the closing price
of Murgor's common shares on the TSX Venture Exchange on January 5, 2009.
After the aforementioned grant of options, the average exercise price of
Murgor's incentive stock options is at $0.30.
Furthermore, the exercise price of the 40,000 options granted and announced
on January 9th, 2009 has been corrected to $0.10 instead of the previously
announced $0.08.
About Murgor Resources
Murgor Resources Inc. is a mineral
exploration and development company focused on copper, zinc and gold
deposits. Late in 2006, the company signed agreements with HudBay
Minerals (TSX:HBM), acquiring the right to earn a 100% interest in three
deposits, adjacent to the Snow Lake and Flin Flon, Manitoba mining
districts. The exploration targets for Murgor consist of polymetallic
massive sulphide deposits in one of the most prolific greenstone belts in
Canada and the world.
The table below shows the total 43-101 compliant resource for Murgor's
Hudvam, Wim and Fon deposits.
![](http://www.murgor.com/modules/AxialRealisation/img_repository/files/images/nouvelles/2008-09-18/08-09-18_METALLURGY_EN.jpg)
For statement of resources, see Murgor Press Releases: Feb 20,2007 for Fon; Aug
28, 2008 for Hudvam and Sep 09, 2008 for Wim.
Andre C. Tessier, P.Geo., P.Eng. (Quebec) and Jean-Philippe Desrochers,
P.Geo. respectively President & CEO and Vice-President Exploration for
Murgor Resources Inc. are Qualified Persons as defined by NI-43-101 and are
responsible for the technical information presented in this press release.
FOR FURTHER INFORMATION PLEASE VISIT MURGOR'S WEBSITE AT WWW.MURGOR.COM OR CONTACT:
Andr� C. Tessier, President & CEO
MURGOR RESOURCES INC.
Tel: (613) 546-7503 or 1-888-891-3330
Fax: (613) 546-7318
E-mail: info@murgor.com Web site: www.murgor.com
This news release includes certain "forward-looking
statements". All statements other than statements of historical fact,
included in this release, including, without limitation, statements regarding
potential mineralization, resources and reserves, exploration results, and
future plans and objectives of Murgor, are forward-looking statements that
involve various risks and uncertainties. There can be no assurance that such
statements will prove to be accurate and actual results and future events could
differ materially from those anticipated in such statements. Important factors
that could cause actual results to differ materially from Murgor's expectations
are exploration risks detailed herein and from time to time in the filings made
by Murgor with securities regulators.
Neither
TSX Venture Exchange nor its Regulation Services Provider (as that term is
defined in the policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
![](http://www.ekomarketing.ca/mailview.aspx?lang=en&2h=7160028&s9=15017&2i=212&j2=newsrelease%4024hgold.com&h4=a.jpg)
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Murgor Resources Inc.
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PRODUCTEUR |
CODE : MGR.V |
ISIN : CA62660P4024 |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
Murgor est une société de production minière de zinc et de cuivre basée au Canada. Murgor détient divers projets d'exploration au Canada. Son principal projet en production est FLIN-D au Canada et ses principaux projets en exploration sont GOLDEN ARROW MINE, BARRY - URBAN (EAGLE RIVER), CLAY LAKE, NELLIGAN, BARRY - URBAN (WINDFALL), LA TREVE, MISHIBISHU, MYSTERY, FANCAMP, MOUNT PLEASANT, BARRY - URBAN (BARRY), BENOIT, HUDVAM, WIM, FON, GULLROCK PROPERTY, PREMIERE PROPERTY et ELMTREE GOLD au Canada. Murgor est cotée au Canada et aux Etats-Unis D'Amerique. Sa capitalisation boursière aujourd'hui est 1,2 millions CA$ (986 887 US$, 923 332 €). La valeur de son action a atteint son plus haut niveau récent le 07 août 2020 à 1,89 CA$, et son plus bas niveau récent le 07 mars 2023 à 0,01 CA$. Murgor possède 123 430 000 actions en circulation. |
Rapports annuels de Murgor Resources Inc. |
Financements de Murgor Resources Inc. |
Attributions d'options de Murgor Resources Inc. |
Nominations de Murgor Resources Inc. |
Projets de Murgor Resources Inc. |
Communiqués de Presse de Murgor Resources Inc. |
Publication de commentaires terminée |
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