Murchison halts drilling for talks with Quebec First Nations

Murchison Minerals Ltd. [MUR-TSXV] said it has concluded the Phase 111 component of a 2022 summer exploration program at its 100%-owned HPM (Haut-Plateau de la Manicouagan) nickel-copper-cobalt project in Quebec earlier than planned.

It said the move follows concerns raised by the Innu Takuaikan Uashat mak Mani-utenam (ITUM), on whose traditional territory the HPM lies. “By taking this action, Murchison is focusing on continuing dialogue with the ITUM and the Government of Quebec,’’ the company said in a press release.

“The objective of the continued dialogue is to establish a path forward which is mutually beneficial to both parties,’’ the company said. ITUM is an Innu First Nations band government, based in Sept-Iles, Que., on the North Shore of the Saint Lawrence River.

Prior to halting exploration, the company said it was able to complete most of the planned work during the three-phased program. For example, the company planned to drill in the Barre de Ferr, (one of the high priority target areas), for the purpose of expansion and delineation, designed to produce a maiden resource by the first quarter of 2023. When drilling stopped on September 5, 2022, the company said it had completed 13 holes, covering 4,316 metres. Preliminary results from the diamond drilling Phase are expected to be released over the coming weeks.

The Barre de Fer zone is one of multiple nickel-copper-cobalt prospects on the HPM Project, which is strategically located eight kilometres from a rail line and within 30 kilometres of the Hart-Jaune hydroelectric power generating facility.

Meanwhile, an aerial geophysical survey, which commenced at the end of April and was completed on August 12, 2022, resulted in the identification of numerous highly prospective EM anomalies, indicative of potential nickel-copper-cobalt mineralization. Murchison said it has expanded the project are from 576 to 648 square kilometres

Ground prospecting identified numerous additional showings of nickel-copper-cobalt mineralization outcropping and sub-cropping across the extents of the property, Murchison said. Assays are pending and these results are currently being evaluated and will be released at a later date.

“Murchison is committed to building active and meaningful relationships and partnerships through open, transparent, and inclusive communication with Indigenous peoples, communities and stakeholders,’’ said Murchison President and CEO Troy Boisjoli.

“Murchison is dedicated to conducting mineral exploration in a sustainable, safe, socially conscientious, and environmentally responsible manner,” he said. “Murchison seeks to establish a productive working relationship, with the ITUM.’’

On September 6, 2022, Murchison shares closed unchanged at $0.08. The shares are currently trading in a 52-week range of 16.5 cents and $0.065.