Strong gold grades drove Murgor Resources (MGR-V, MGRRF-O) shares 48% higher on April 22 after the company released results from its Hudvam copper-gold-zinc-silver deposit in Flin Flon, Man.
Murgor shares rose 18.5 to 57 each on a trading volume of 1.6 million shares.
Highlights from the results include a 22.5-metre intersection grading 9.76 grams gold per tonne, 0.74% copper, 3.42% zinc and 18.91 grams silver, including 7 metres grading 25.56 grams gold.
Another role returned 6.33 metres grading 7.07 grams gold, 5.92% copper, 1.65% zinc and 48.16 grams silver.
This is the second set of results from Murgor’s 30-hole, 9,300-metre program completed in April.
The first set of results was released in March and results from two more holes are expected by early May.
The company has completed definition, infill, metallurgical and geotechnical drilling on the deposit, which consists of a solid sulphide to sulphide breccia with variable amounts of gold-bearing pyrite, pyrrhotite, chalcopyrite and sphalerite.
The company plans to use the results in an updated resource estimate, which will come out in the second quarter.
Resources were last compiled in February totalling 1.93 million inferred tonnes grading 1.17% copper, 1.71% zinc, 2.94 grams gold and 10.94 vam property from HudBay Minerals grams silver, for 30.8 million lbs. (HBM-T, HBMFF-O) by the copper, 44.7 million lbs. zinc, 111,000 third quarter by spending $2.25 oz. gold and 403,000 oz. silver. million in exploration and making
The company plans to have cash and share payments totalling earned a 100% interest in the Hud-$270,000 over three years.
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