Murchison drills 0.22% NiEq over 277.3 metres at HPM, Quebec

Murchison Minerals Ltd. [MUR-TSXV; MURMF-OTCQB] reported assay results from the diamond drillholes completed at the Syrah Target as part of the 2022 Summer Exploration Program on the 100%-owned HPM (Haut-Plateau de la Manicouagan) Project in Quebec.

At the Syrah Target, which lies approximately 300 metres northwest of the Barre de Fer (BDF) Zone, nickel-copper-cobalt mineralization has been traced on surface over a 775-metre strike length. These drillhole results confirm the presence of extensive disseminated nickel-bearing sulphide mineralization extending to depth. Murchison is confident the disseminated mineralization intersected in its first drill program is a key vectoring tool towards discovery of more massive to semi-massive mineralization within the target area to the south.

Additionally, the company is pleased to announce backpack drill results from the initial prospecting program confirming the presence high-grade nickel-copper-cobalt on surface at it’s 100 per cent owned Lac Paradis Prospect. Lac Paradis Prospect is located approximately 120 km southwest of the HPM Project area and was initially acquired by the company in January of 2022.

Highlights include drill hole SYR22-001 that intersected extensive disseminated Ni-Cu-Co bearing sulphide mineralization over 277.3 metres: 277.3 metres grading 0.22% NiEq (nickel equivalent) or 0.70% CuEq. (58.00 to 335.33 m) in SYR22-001, including 30.33 metres at 0.33% NiEq or 1.08% CuEq. (305.00 to 335.33 m); includes 4.80 metres at 0.54% NiEq or 1.75% CuEq (323.7 to 328.5 m).

Mineralization intersected at Syrah confirms the presence of a large magmatic sulphide system but does not explain the conductive geophysical anomaly. The target remains highly prospective to host high-grade nickel-bearing sulphide mineralization.

At the Lac Paradis Prospect, the backpack drill results are highly prospective confirming high-grade Ni-Cu-Co sulphide mineralization: 1.55 metres backpack drill core grading 1.43% NiEq or 4.65% CuEq, including 0.37 metres of 5.01% NiEq or 16.25% CuEq (0.00 to 0.37 m); 1.40 metres backpack drill core grading 2.11% NiEq or 6.84% CuEq, including 0.46 metres at 4.06% NiEq or 13.17% CuEq (0.40 to 0.86 m).

Troy Boisjoli, President and CEO commented: “Today’s release is a confirmation of the upside potential of the HPM project. Syrah is just one of the many known nickel-bearing sulphide showings along the 5 km BDF Trend, and adjacent 7 km long PYC Trend. The confirmation that mineralization continues at depth, along with how the geoscience has evolved our understanding of this extensive nickel-bearing sulphide system are positioning the HPM Project as one of the only true newly discovered nickel-sulphide districts globally.”

John Shmyr, Vice-President of Exploration, commented: “We are pleased with the results at Syrah, we feel the results to date are strong evidence of a significant magmatic nickel system being present. We see similar large broad zones of disseminated sulphide adjacent to the high-grade mineralization at Barre de Fer. The 3 holes were drilled to test a strong area in the airborne VTEM data but reprocessing of the previous EM surveys indicate that southern portion of the anomaly as being prospective and this agrees with the higher-grade surface mineralization located there. We are eager to drill this target soon.”

During the Summer 2022 Exploration Program a fence of three diamond drillholes were completed at the Syrah Target. The drillholes were spaced approximately 75 to 125 metres apart, testing an area proximal to mineralization intersected in hole HPM-08-14 -completed in 2008, returning grades of 0.18% NiEq (0.12% Ni, 0.09% Cu, 0.02% Co) over 15.62 metres.

Surface mineralization at Syrah was mapped using a beep mat, with the best prospecting results discovered in the southernmost extents of the Syrah target -the best grab sample results returned grades of 0.74% NiEq. (0.58% Ni, 0.24% Cu, 0.05% Co).

Murchison conducted an extensive prospecting program on the HPM project during the 2022 summer exploration program. As part of this program, the technical team completed reconnaissance prospecting at its Lac Paradis Prospect, at a previously identified showing. The Lac Paradis Prospect is located at the south end of Lac Manicouagan, approximately 17 km north of the Manic-5 Hydroelectric Dam, and 120 km southwest of the HPM property. The Lac Paradis Prospect was staked by Murchison in January 2022. Nickel mineralization was discovered by prospecting in 2003 along a forestry road, the mineralization contains grades of 2.9% Cu and 5.26% Ni in grab samples in disseminated to semi-massive sulphide patches in meta-pyroxenite associated with leucogabbro and olivine-bearing ultramafic dyke. Four shallow BQ holes were drilled in 2006 totaling 217.34 metres, with no samples collected and no notable mineralization intersected.

The lack of exploration paired with the high-grade nature and presence of ultramafic magmatism make the Lac Paradis highly prospective. Murchison will complete more extensive prospecting in future programs utilizing a beep mat to attempt to locate additional mineralization associated with the ultramafic intrusions. Murchison currently has 218.2 million shares issued and outstanding.