Murgor discovery near Chibougamou

A stripping and trenching program near Chibougamau, Que., has uncovered a significant zone of gold mineralization.

The work, carried out by Murgor Resources (VSE), revealed a 100-130-ft.-wide, gold-bearing pyritic shear zone hosted within highly carbonatized and silicified mafic volcanic rocks.

A total of 18 grab samples, which averaged 0.77 oz. gold per ton, were collected across a 60-ft. section. A second section, consisting of 27 grab samples which averaged 0.346 oz., was sampled across a 110-ft. interval. Follow-up trenching, blasting and chip sampling were completed across the shear zone, confirming the earlier grab-sample results. Three intervals within a 78.65-ft. span assayed 0.334 oz. over 31.4 ft., 0.42 oz. over 5.25 ft. and 0.211 oz. over 19.1 ft.

The property was explored in 1983 but had seen little exploration since that time, says Murgor President Michael Atkins. “There was one showing, though, that assayed 0.18 oz. over 12.5 ft. We went back there, stripped it off and started panning thick gold tails.”

Murgor can acquire the 14-claim property, situated in Barry Twp., by paying $10,500 cash and issuing $24,500 worth of Murgor common shares. In addition, Murgor must spend $250,000 on exploration over three years. The property is also subject to a 2% net smelter return royalty payment, half of which can be bought back for $550,000.

Atkins says his company will examine other showings, which previously assayed “around 2 to 3 grams per tonne.” A second phase of exploration, already under way, includes cutting a 1.5-line-km grid over the showing in preparation for drilling in the new year.