Murgor starts drilling at Abbott Lake, Saskatchewan
Murgor Resources Inc. 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.
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.
