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Duluth Metals announces second drill rig mobilized on the East Shore Property

October 10, 2012

TORONTO, Oct. 10, 2012 /PRNewswire/ – Duluth Metals Limited (“Duluth”) (TSX: DM) (TSX:DM.U) is pleased to announce that a second drill rig has been mobilized on
the  Target 3 area of the East Shore exploration property.  The
drilling will be carried out in the Harris Lake/Heart Lake area
approximately 4 miles south of the Nickel Lake Macrodike. Drilling is
targeting VTEM geophysical anomalies along the sulphide bearing,
eastern basal contact zone of the South Kawishiwi Intrusion.

“We are extremely pleased to mobilize a second drill rig on our East
Shore property while drilling continues on the Nor’East property,”
commented Vern Baker, President of Duluth Metals. “The East Shore
property is a strategic land package near qualified resources in the
South Kawishiwi Intrusion.”

The first drill hole in the Target 3 area is featured on a map (Figure
1) which can be found on the Company website at www.duluthmetals.com under this press release.

The primary exploration focus on the Nor’East and East Shore Properties
is for copper-nickel-PGM mineralization, similar to other known
deposits in the Duluth Complex, (e.g., the Maturi Deposit). 
The Nor’East property is situated at the junction of the Nickel Lake
Macrodike and the South Kawishiwi Intrusion and is a prime target area
for Duluth Metals.  Geological modeling indicates that the property has
the potential to host “Voisey’s Bay”-type Ni-Cu-PGM massive sulfide
mineralization.

About Duluth Metals Limited

Duluth Metals Limited is committed to acquiring, exploring and
developing copper, nickel and platinum group metal (PGM) deposits.
Duluth Metals has a joint venture with Antofagasta plc on the Twin
Metals Project, located within the rapidly emerging Duluth Complex
mining camp in north-eastern Minnesota. The Duluth Complex hosts one of
the world’s largest undeveloped repositories of copper, nickel and
PGMs, including the world’s third largest accumulation of nickel
sulphides, and one of the world’s largest accumulations of polymetallic
copper and platinum group metals. Aside from the joint venture, Duluth
Metals retains a 100% position on approximately 40,000 acres of mineral
interests on exploration properties adjacent to and nearby the Twin
Metals Minnesota LLC joint venture.

This press release contains forward-looking statements (including
“forward-looking information” within the meaning of applicable Canadian
securities legislation and “forward-looking statements” within the
meaning of the US Private Securities Litigation Reform Act of 1995)
relating to, among other things, the results of drilling operations of
Duluth Metals and exploration and mine development.  Generally,
forward-looking statements can be identified by the use of words such
as “plans”, “expects” or “does not expect”, “is expected”, “budget”,
“scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or
“does not anticipate”, or “believes”, or variations of such words and
phrases or statements that certain actions, events or results “may”,
“could”, “would”, “might” or “will be taken”, “occur” or “be
achieved”.  Duluth Metals has relied on a number of assumptions and
estimates in making such forward-looking statements, including, without
limitation, the prices of copper, nickel and platinum group metals
(PGMs) and the costs associated with continuing exploration and mining
development.  Such assumptions and estimates are made in light of the
trends and conditions that are considered to be relevant and reasonable
based on information available and the circumstances existing at this
time. A number of risk factors may cause actual results, level of
activity, performance or outcomes of such exploration and/or mine
development to be materially different from those expressed or implied
by such forward-looking statements including, without limitation,
whether such discoveries will result in commercially viable quantities
of such mineralized materials, the possibility of changes to project
parameters as plans continue to be refined, the ability to execute
planned exploration and future drilling programs, possible variations
of copper, nickel and PGM grade or recovery rates, the need for
additional funding to continue exploration efforts, changes in general
economic, market and business conditions, and those other risks set
forth in Duluth Metals’ most recent annual information form under the
heading “Risk Factors” and in its other public filings.  Statements
related to “reserves” and “resources” are deemed forward-looking
statements as they involve the implied assessment, based on
realistically assumed and justifiable technical and economic
conditions, that an inventory of mineralization will become
economically extractable.  Forward-looking statements are not
guarantees of future performance and such information is inherently
subject to known and unknown risks, uncertainties and other factors
that are difficult to predict and may be beyond the control of Duluth
Metals.  Although Duluth Metals has attempted to identify important
risks and factors that could cause actual actions, events or results to
differ materially from those described in forward-looking statements,
there may be other factors and risks that cause actions, events or
results not to be as anticipated, estimated or intended.  Consequently,
undue reliance should not be placed on such forward-looking statements.
In addition, all forward-looking statements in this press release are
given as of the date hereof.  Duluth Metals disclaims any intention or
obligation to update or revise any forward-looking statements, whether
as a result of new information, future events or otherwise, save and
except as may be required by applicable securities laws.  The
forward-looking statements contained herein are expressly qualified by
this disclaimer.

SOURCE Duluth Metals Limited


Source: PR Newswire