|
Geological map of the Hudvam property showing the surface projections of the mineralized zones.
Landsat image of the Hudvam property showing the location of 2007 exploration work as at July 15, 2007. The photo also shows the power line and railway tracks within a few kilometres of the Hudvam deposit.
Core photo
Longitudinal section of the Hudvam deposit showing the previous from Mingold with western plunging ore lenses. The longitudinal section also shows the existing and planned development from Mingold in 1988.
Cross-section of the Hudvam deposit looking north-east. The figure shows the a new down-hole Pulse-EM target Lying in the stratigraphic footwall of the deposit along a strongly altered horizon known as the Broadhurst Horizon.
Airborne view of the Hudvam Camp and drills during the winter of 2008.
Three drills in action on Vamp Lake during the winter of 2008. Drilling Zone 1 in the foreground and Zone 3 in the background
Analyst visit at the site during the winter of 2008
Murgor geologist Jaysen Johnson examines the Hudvam horizon west of the Hudvam deposit.
|
Hudvam
(latest update May 25, 2010)
 43-101 (file size: 8.37 MB)
 Location:
The Hudvam property is located in Manitoba, approximately 47 kilometres NE of the town of Flin Flon where HudBay Minerals Inc. operates a mill, Copper Smelter and Zinc plant. The Hudvam deposit is located within 9 kilometres of an all weather road linking the Towns of Flin Flon and Leaf Rapids. The railway track that was used to transport concentrate from the Ruttan Mine (near Leaf Rapids) to the Flin Flon mill also passes within two kilometres of the property.
Status:
Murgor has earned 100% interest in the Hudvam Property from HudBay Minerals Inc. by having spent $5 million and made a payment to Hudbay of $2.25 million. HudBay Minerals Inc. retains a buy back right of up to 65% or a 2% net smelter return (NSR) royalty.
Resource:
In August 2008, Murgor completed a NI 43-101 compliant resource estimate on the property, which indicated an 86% increase in the gold resource and a 74% increase in the copper resource, relative to historical estimates and based on a 2% copper equivalent cut off grade. The deposit more than doubled in size and 70% of the resource is now converted to the Indicated category, a requirement to proceed to a feasibility study.
The most recent 43-101 compliant resource estimate is as follows:
INDICATED CATEGORY
|
Cut-Off
Cu Equiv* |
Tonnage |
Grade |
Contained Metal** |
| Cu |
Zn |
Au |
Ag |
Cu (lb) |
Zn (lb) |
Au (oz) |
Ag (oz) |
|
| 2.0% |
854,076 |
1.22% |
1.78% |
3.82 g/t |
13.84 g/t |
23,008,000 |
33,541,000 |
105,000 |
380,000 |
| 2.5% |
680,657 |
1.38% |
1.98% |
4.33 g/t |
15.38 g/t |
20,640,000 |
29,654,000 |
95,000 |
337,000 |
|
* Copper equivalent grade base on US$1.75 per lb Copper, US$0.80 per lb Zn, US$700 per oz Au and US$10 per oz Ag.
** Figures rounded to nearest 1,000. |
INFERRED CATEGORY
|
Cut-Off
Cu Equiv* |
Tonnage |
Grade |
Contained Metal** |
| Cu |
Zn |
Au |
Ag |
Cu (lb) |
Zn (lb) |
Au (oz) |
Ag (oz) |
|
| 2.0% |
502,901 |
0.79% |
1.33% |
3.25 g/t |
6.96 g/t |
8,759,000 |
14,746,000 |
53,000 |
113,000 |
| 2.5% |
338,557 |
0.85% |
1.46% |
3.96 g/t |
7.36 g/t |
6,345,000 |
10,898,000 |
43,000 |
80,000 |
|
* Copper equivalent grade base on US$1.75 per lb Copper, US$0.80 per lb Zn, US$700 per oz Au and US$10 per oz Ag.
** Figures rounded to nearest 1,000. |
The total metal content of the deposit stands at 31,767,000 pounds of copper, 158,000 ounces of gold, 48,287,000 pounds of zinc, and 493,000 ounces of silver. The resource estimation was calculated using a 2% copper equivalent cut off grade with metal prices at US$1.75 per pound for copper, US$0.80 per pound for zinc, US$700 per ounce for gold and US$10.00 per ounce for silver.
Metals Recovery:
Excellent Metal Recoveries.
- Copper Recoveries: 89%
- Gold Recoveries:
56% by Flotation Alone
67% with Gravity Circuit
- High-Grade Copper Concentrate: 30% Copper and 51 g/t Gold
- Zinc Recoveries: 70%
- Zinc Concentrate: 48% Zinc
Description of the Property:
The property covers an area of approximately 17 square kilometres. In 1988, Mingold Resources Inc. completed a 250 metre ramp during an underground exploration program but the development was abandoned when the price of metals dropped. This development would allow Murgor to quickly bring the deposit to production.
Mineralization:
The deposit consists of four lenses of massive to semi massive sulphide of volcanogenic origin with Zones #1 and #3 being the most economically significant. The mineralization consists of variable quantities of pyrite, pyrrhotite, chalcopyrite and sphalerite with banded or brecciated textures. The ore lenses are up to 15 metres wide, trend NE at 060° az. and dip steeply towards the SE at 80°. The lenses plunge at 70° towards the NE. The steeply dipping lenses would be conducive to long-hole mining; an economical underground mining method (more on mineralization).
The bottom part of the mineralized lens of Zone #3 appears to be faulted and remains untested below a vertical depth of 250 metres whereas the mineralization of Zone #1 is open at a depth below 520 metres.
2007-2008 Exploration:
Murgor conducted a very extensive exploration program at the Hudvam property in 2007 and 2008. The exploration work included:
- The completion of 51 drill holes for a total of 13,556 metres, since optioning the property from Hudbay in late 2006. The 2007-2008 drilling program was aimed at upgrading the current mineral resource and extending the limits of the known mineralization. Two exploration drill hole were also completed near the end of the program in March 2008.
- The completion of a new 3D interpretation of the Hudvam deposit, incorporating the new results from its 2007-2008 drilling, in preparation for a new 43-101 compliant resource estimate and to further define new exploration targets at the deposit and property-scale.
- A 103 line kilometres ground magnetic survey covering the Hudvam deposit and its strike extensions, and
- A 61 line kilometre survey of Infinitem, a high resolution, time domain, electro-magnetic (TDEM) ground geophysical configuration designed to detect conductors to vertical depths well in excess of 300 metres vertical. The Infinitem survey covered the deposit and its immediate strike extensions.
Results:
In August 2008, Murgor’s work culminated with the completion of a NI 43-101 compliant resource estimate on the property, which indicated an 86% increase in the gold resource and a 74% increase in the copper resource, relative to historical estimates. The deposit more than doubled in size and 70% of the resource is now converted to an indicated category.
As shown in the table below, results from the infill and definition drilling program returned exceptional gold and copper values.
TABLE OF SELECTED DRILL RESULTS HUDVAM PROPERTY 2008 DRILLING
| HVS08-023: |
4.37 g/t Au |
4.66% Cu |
5.79% Zn |
41.23 g/t Ag |
5.00 metres |
| HVS08-027: |
7.07 g/t Au |
5.92% Cu |
1.65%Zn |
48.16 g/t Ag |
6.33 metres |
| HVS08-029: |
7.95 g/t Au |
2.38% Cu |
0.63% Zn |
22.51 g/t Ag |
3.04 metres |
| HVS08-035: |
5.55 g/t Au |
1.29% Cu |
2.07% Zn |
13.68 g/t Ag |
2.03 metres |
HVS08-039:
Incl: |
8.86 g/t Au
11.05 g/t Au
|
0.62% Cu
0.74% Cu |
0.53%
0.66% Zn |
9.22 g/t Ag
11.21 g/t Ag
|
18.45 metres
14.65 metres |
HVS08-040:
Incl: |
2.95 g/t Au
8.44 g/t Au |
1.19% Cu
2.05% Cu |
0.25% Zn
0.06% Zn |
12.65 g/t Ag
22.91 g/t Ag |
19.93 metres
4.95 metres |
HVS08-041:
Incl: |
9.76 g/t Au
25.56 g/t Au |
0.74% Cu
1.24% Cu |
3.42% Zn
3.67% Zn |
18.91 g/t Ag
35.97 g/t Ag |
22.47 metres
7.00 metres |
| HVS08-043: |
9.65 g/t Au |
2.72% Cu |
3.40% Zn |
28.29 g/t Ag |
2.95 metres |
HVS08-049:
Incl: |
6.24 g/t Au
11.02 g/t Au |
0.65% Cu
0.86% Cu |
0.99% Zn
0.80% Zn |
10.49 g/t Ag
14.35 g/t Ag |
16.22 metres
8.13 metres |
Furthermore, the data compilation and 3D-modelling program has led to the identification of several new high-priority exploration targets that are in close proximity to currently defined copper-gold-zinc mineral resources. One of those targets was drill tested in 2008 with drill hole HVS08-044 and resulted in the discovery of two new intersections of massive sulphide mineralization.
One of these new intersections called Zone 44 returned 2.43 g/t Gold, 1.60% Copper, 1.12% Zinc and 19.0 g/t Silver over a width of 3.87 metres. The new discovery is located between Zones 1 and 3, some 275 metres away from any known mineralization, at a vertical depth of 300 metres. The new discovery remains open in all directions and points to a large area with a high potential for exploration between lenses 1 and 3 at depth. Furthermore Borehole Pulse EM surveys in drill hole 44 show a larger conductive body below and to the west of the drill hole intercept.
A second exploration drill hole (drill hole HVS-050) tested Zone 1 of the deposit at 550 meters vertical depth. The drill hole intersected an extensive alteration zone (83 metres) in the stratigraphic footwall of Zone 1, showing that alteration processes related to the mineralization appear to be intensifying at depth.
Future Work:
The ownership of the property and the deposit has been secured through Murgor's extensive exploration expenditures over the last 2 years.
The Hudvam deposit is located close to existing infrastructure, has an existing ramp that can be rehabilitated and mineralization is at shallow depth. All these factors combined will allow Murgor to quickly reactivate this project towards feasibility and potentially towards production with low capital expenditure and a minimal environmental footprint.
The relative high-grade gold nature of the deposit provides investors an excellent leverage to higher gold prices. Follow up drilling is planned in 2009 and/or 2010 to test the extent of the new discoveries of drill holes HVS-44 and HVS-50.
Related News Releases:
| May 11, 2010 |
Murgor Outlines New Geophysical Anomalies Adjacent To The Hudvam Gold-Copper-Zinc Deposits in Manitoba |
| Sep 17, 2009 |
Murgor earns 100% interest from HudBay at the Wim copper-gold and Hudvam gold-copper-zinc deposits in Manitoba |
| Sep 18, 2008 |
Murgor Announces Metallurgical Results at the Hudvam and Wim Deposits in Manitoba |
| Aug 28, 2008 |
Murgor Completes NI 43-101 Resource Estimate at the Hudvam Deposit and Increases its Copper-Gold-Zinc Resource |
| Jun 27, 2008 |
Summary of Recent Exploration Developments in Manitoba, Saskatchewan and Quebec
|
| May 15, 2008 |
Murgor Drills More High Grade Gold at Hudvam and Prepares for New 43-101 Compliant Resource Estimate |
| May 8, 2008 |
Murgor's New Discovery Yields Significant Grades Over Mineable Width and Confirms the Potential for Expansion of the Hudvam Deposit |
| Apr 22, 2008 |
Murgor Releases Further High Grade Gold Assays From the Hudvam Copper-Gold-Zinc Deposit, Manitoba |
| Mar 20, 2008 |
Murgor Discovers Two New Massive Sulphide Zones at the Hudvam Copper-Gold-Zinc Deposit in Manitoba |
| Mar 11, 2008 |
Murgor's Initial Drilling Results Return Golden Surprise |
| Feb 26, 2008 |
Murgor Completes Work Commitments to Earn a 100% Interest in the Hudvam and Wim Copper-Gold Projects in Northern Manitoba |
| Jan 17, 2008 |
Murgor Starts Drilling at Win and Hudvam, and Defines New Targets Adjacent to the Wim Deposit in Northern Manitoba |
| Nov 15, 2007 |
Murgor Retains Golder Associates For Preliminary Feasibility Studies on the Hudvam and Wim Deposits in the Flin Flon Belt, Manitoba |
| Jun 21, 2007 |
Murgor Releases Drilling Results From the Hudvam Deposit and Provides an Update of Exploration at the Property |
| May 02, 2007 |
Murgor Releases Drilling Results From the Hudvam Deposit and Gets Ready for Environmental Study and Permitting |
| Apr 4, 2007 |
Murgor Releases Drill Results From the Hudvam Deposit |
| Mar 02, 2007 |
Murgor Releases Preliminary Drilling Results From Hudvam Deposit |
| Feb 28, 2007 |
Murgor Releases NI 43-101 Resource Estimate on the Hudvam |
| Jan 18, 2007 |
Murgor Starts 20,000 Meter Drilling Program at its Flon Belt Options in Manitoba and Saskatchewan |
| Nov 20, 2006 |
Murgor Hires Wardrop and AMEC for Five 43-101 Estimates in the Flin Flon Belt. |
|
))
))
))
))
))
))
))
))
))
)){kind=link}