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Last updated on April 19, 2014 at 9:20 EDT

Duluth Metals Highlights 155 feet of 1.371% Copper, 0.281% Nickel and 0.863 grams Total Precious Metals at west Maturi in the Twin Metals Minnesota Project

October 11, 2012
        --  Drill results of additional 30 holes in the Maturi Deposit of
            Twin Metals Minnesota
        --  Drilling of the Maturi Deposit consistently returned good
            grades and intersections across four areas within the deposit
        --  Approximately 170 additional drill holes, including the 30
            holes (MEX-349 to MEX 378) featured in this press release, will
            be factored into the final pre-feasibility AMEC resource study
            due in Fall 2012
        --  The final pre-feasibility AMEC resource estimate report will
            confirm the economic opportunities represented by this resource

TORONTO, Oct. 11, 2012 /PRNewswire/ - Duluth Metals Limited (“Duluth Metals”) (TSX: DM) (TSX: DM.U) is pleased
to announce assay results for 30 additional holes from Maturi as
drilling continues on the Twin Metals Minnesota Project in northeastern
Minnesota. Drilling results continue to indicate continuous and
relatively thick mineralization with certain higher grade zones. These
recently completed holes will be incorporated into the final resource
estimate to be issued by AMEC in Fall 2012.

All of the 30 holes have significant length intercepts that meet a 0.5%
Cu cut-off criteria. These holes, distributed across the Maturi
Resource, continue to indicate the ability to define a higher grade
sub-set of the resource for early utilization. The holes are grouped
into four distinct areas within the resource as shown in Figure 1
further in this press release, and are referred to as:

      1. Area 1 - shallow west Maturi
      2. Area 2 - deeper west Maturi
      3. Area 3 - central Maturi
      4. Area 4 - northeast Maturi

“This set of 30 holes highlights the continuity of this resource as well
as the significant thickness of the well mineralized material”, stated
Vern Baker, President of Duluth Metals. “The ability to include data
from a large number of additional holes and to incorporate a more
detailed geological interpretation will provide a much stronger
resource estimate for the Twin Metals Minnesota project this fall. The
final pre-feasibility AMEC resource estimate will allow mine planning
to focus on early utilization of the most economic mineralization. This
resource estimate will also upgrade large areas of the resource from
the Inferred to the Indicated category.”

Drilling highlights in the western section of the Maturi Deposit
include:

In Area 1 (shallow west Maturi):

        --  Mex-371 returned a 155 foot intersection of 1.371% copper,
            0.281% nickel, 5.1 g/t silver and 0.863 grams TPM (TPM =
            Platinum+Palladium+Gold) at a 0.5% Cu cut-off.
        --  Mex-374returned a 240 foot intersection of 0.790% copper,
            0.273% nickel, 3.1 g/t silver and 0.544 grams TPM at a 0.5% Cu
            cut-off.

In Area 2 (deeper west Maturi):

        --  Mex-373returned a 105 foot intersection of 0.868% copper,
            0.262% nickel, 3.3 g/t silver and 0.743 grams TPM at a 0.5% Cu
            cut-off.
        --  Mex-357returned a 144 foot intersection of 0.799% copper,
            0.292% nickel, 2.8 g/t silver and 0..704 grams TPM at a 0.5% Cu
            cut-off.

In Area 3 (central Maturi):

        --  Mex-351 returned a 62 foot intersection of 0.823% copper,
            0.278% nickel, 2.7 g/t silver and 1.028 grams TPM (TPM =
            Platinum+Palladium+Gold) at a 0.5% Cu cut-off.
        --  Mex-362 returned a 85 foot intersection of 0.805% copper,
            0.264% nickel, 2.8 g/t silver and 0.905 grams TPM at a 0.5% Cu
            cut-off.
        --  Mex-367returned a 147 foot intersection of 0.758% copper,
            0.231% nickel, 3.0 g/t silver and 0.813 grams TPM at a 0.5% Cu
            cut-off.

In Area 4 (northeast Maturi):

        --  Mex-355 returned a 158 foot intersection of 0.905% copper,
            0.306% nickel, 3.1 g/t silver and 0.782 grams TPM (TPM =
            Platinum+Palladium+Gold) at a 0.5% Cu cut-off.
        --  Mex-376returned a 90 foot intersection of 0.870% copper, 0.255%
            nickel, 2.9 g/t silver and 0.771 grams TPM at a 0.5% Cu
            cut-off.

Figure 1 is a map illustrating the location of 30 drill holes reported in this
press release which can be found on the Company website under this
press release at www.duluthmetals.com.

A more detailed summary of the assay results for MEX-349 to 378 as
grouped by areas can be found in the table below. True thickness is
estimated at about 90% of core length:


    Area 1 (shallow west Maturi):                                      

        HOLE       Zone      From       To   Length      Cu      Ni    TPM*

                             (ft)     (ft)     (ft)     (%)     (%)   (g/t)

    MEX-0349   @0.3% Cu       447      698      251   0.551   0.168   0.402
                cut-off

               @0.5% Cu       478      638      160   0.658   0.199   0.505
                cut-off

    MEX-0352   @0.3% Cu      1748     1938      190   0.663   0.260   0.514
                cut-off

               @0.5% Cu      1748     1893      145   0.713   0.241   0.598
                cut-off

    MEX-0356   @0.5% Cu      1162     1358      196   0.721   0.230   0.430
                cut-off

    MEX-0359   @0.5% Cu    1282.5   1512.8    230.3   0.773   0.238   0.521
                cut-off

    MEX-0361   @0.5% Cu       744      968      224   0.662   0.198   0.443
                cut-off

    MEX-0364   @0.5% Cu       592      713      121   0.690   0.204   0.576
                cut-off

               @0.5% Cu       743      773       30   0.557   0.134   0.333
                cut-off

    MEX-0365   @0.5% Cu      1228     1418      190   0.788   0.225   0.554
                cut-off

    MEX-0368   @0.3% Cu       859      978      119   0.564   0.170   0.335
                cut-off

               @0.5% Cu       859      959      100   0.596   0.181   0.356
                cut-off

    MEX-0371   @0.3% Cu      1554     1749      195   1.178   0.249   0.750
                cut-off

               @0.5% Cu      1569     1724      155   1.371   0.281   0.863
                cut-off

    MEX-0372   @0.5% Cu   1073.25     1233   159.75   0.671   0.212   0.430
                cut-off

    MEX-0374   @0.5% Cu      1768     2008      240   0.790   0.273   0.544
                cut-off

    MEX-0377   @0.3% Cu      1204     1443      239   0.740   0.223   0.532
                cut-off

               @0.5% Cu      1208     1403      195   0.818   0.245   0.595
                cut-off

    MEX-0378   @0.3% Cu    1064.5     1233    168.5   0.639   0.195   0.451
                cut-off

               @0.5% Cu    1064.5     1158     93.5   0.801   0.240   0.556
                cut-off


    Area 2 (deeper west Maturi):                                

        HOLE             Zone   From     To Length    Cu    Ni  TPM*

                                (ft)   (ft)   (ft)   (%)   (%) (g/t)

    MEX-0350 @0.3% Cu cut-off 2214.5   2359  144.5 0.684 0.268 0.516

             @0.5% Cu cut-off 2214.5   2344  129.5 0.725 0.281 0.554

    MEX-0357 @0.5% Cu cut-off   1384   1528    144 0.799 0.292 0.704

             @0.5% Cu cut-off   1618   1703     85 0.618 0.226 0.669

    MEX-0360 @0.3% Cu cut-off   2364   2518    154 0.664 0.251 0.491

             @0.5% Cu cut-off   2364   2453     89 0.798 0.286 0.627

    MEX-0366 @0.5% Cu cut-off   2260 2362.5  102.5 0.721 0.284 0.691

    MEX-0370 @0.3% Cu cut-off   2735   2888    153 0.577 0.285 0.507

             @0.5% Cu cut-off   2735   2813     78 0.748 0.321 0.721

    MEX-0373 @0.3% Cu cut-off   2287   2422    135 0.743 0.234 0.639

             @0.5% Cu cut-off   2287   2392    105 0.868 0.262 0.743


    Area 3 (central Maturi):                                          

        HOLE       Zone     From       To   Length      Cu      Ni    TPM*

                            (ft)     (ft)     (ft)     (%)     (%)   (g/t)

    MEX-0351   @0.5% Cu     2571     2633       62   0.823   0.278   1.028
                cut-off

    MEX-0354   @0.3% Cu     2658     2838      180   0.678   0.190   0.763
                cut-off

               @0.5% Cu     2668     2833      165   0.704   0.196   0.790
                cut-off

    MEX-0362   @0.3% Cu   2647.3   2817.5    170.2   0.614   0.216   0.695
                cut-off

               @0.5% Cu     2653     2738       85   0.805   0.264   0.905
                cut-off

    MEX-0367   @0.5% Cu   2564.8     2712    147.2   0.758   0.231   0.813
                cut-off

    MEX-0375   @0.3% Cu   2682.5     2818    135.5   0.596   0.183   0.739
                cut-off

               @0.5% Cu     2693     2788       95   0.660   0.193   0.840
                cut-off


    Area 4 (northeast Maturi):                                       

        HOLE      Zone       From       To   Length      Cu      Ni    TPM*

                             (ft)     (ft)     (ft)     (%)     (%)   (g/t)

    MEX-0353     @0.3%       2973     3153      180   0.561   0.170   1.029
                    Cu
               cut-off

                 @0.5%       3048     3148      100   0.762   0.235   1.649
                    Cu
               cut-off

    MEX-0355     @0.3%       2106     2213      107   0.440   0.131   0.248
                    Cu
               cut-off

                 @0.5%       2278   2436.5    158.5   0.905   0.306   0.782
                    Cu
               cut-off

    MEX-0358     @0.5%       2638     2738      100   0.721   0.227   0.813
                    Cu
               cut-off

    MEX-0369     @0.5%       2598     2643       45   0.639   0.163   0.559
                    Cu
               cut-off

                 @0.5%       2688     2798      110   0.676   0.203   0.767
                    Cu
               cut-off

    MEX-0376     @0.3%       2718     2868      150   0.685   0.202   0.629
                    Cu
               cut-off

                 @0.5%       2733     2823       90   0.870   0.255   0.771
                    Cu
               cut-off

    Fill-in
    hole

    MEX-0363     @0.5%       1733     1778       45   0.709   0.248   0.627
                    Cu
               cut-off

    (*TPM =
    Platinum+Palladium+Gold)    

Complete gold, platinum, palladium, silver and cobalt assays for MEX-349
to 378 are as follows:


    Area 1 (shallow west Maturi):                                             

        HOLE      Zone      From       To   Length      Pt      Pd      Au      Co      Ag

                            (ft)     (ft)     (ft)   (g/t)   (g/t)   (g/t)     (%)   (g/t)

    MEX-0349     @0.3%       447      698      251   0.097   0.238   0.066   0.010     2.0
                    Cu
               cut-off

    MEX-0349     @0.5%       478      638      160   0.124   0.296   0.085   0.011     2.4
                    Cu
               cut-off

    MEX-0352     @0.3%      1748     1938      190   0.138   0.311   0.065   0.011     2.3
                    Cu
               cut-off

                 @0.5%      1748     1893      145   0.162   0.361   0.075   0.011     2.5
                    Cu
               cut-off

    MEX-0356     @0.5%      1162     1358      196   0.102   0.256   0.072   0.011     2.5
                    Cu
               cut-off

    MEX-0359     @0.5%    1282.5   1512.8    230.3   0.135   0.312   0.074   0.011     3.0
                    Cu
               cut-off

    MEX-0361     @0.5%       744      968      224   0.114   0.264   0.065   0.011     2.5
                    Cu
               cut-off

    MEX-0364     @0.5%       592      713      121   0.129   0.292   0.155   0.009     2.4
                    Cu
               cut-off

                 @0.5%       743      773       30   0.086   0.182   0.064   0.008     2.0
                    Cu
               cut-off

    MEX-0365     @0.5%      1228     1418      190   0.143   0.334   0.077   0.011     2.8
                    Cu
               cut-off

    MEX-0368     @0.3%       859      978      119   0.081   0.201   0.053   0.010     2.3
                    Cu
               cut-off

                 @0.5%       859      959      100   0.086   0.214   0.055   0.010     2.4
                    Cu
               cut-off

    MEX-0371     @0.3%      1554     1749      195   0.158   0.497   0.095   0.012     4.4
                    Cu
               cut-off

                 @0.5%      1569     1724      155   0.184   0.581   0.098   0.013     5.1
                    Cu
               cut-off

    MEX-0372     @0.5%   1073.25     1233   159.75   0.107   0.258   0.065   0.011     2.1
                    Cu
               cut-off

    MEX-0374     @0.5%      1768     2008      240   0.136   0.334   0.075   0.011     3.1
                    Cu
               cut-off

    MEX-0377     @0.3%      1204     1443      239   0.144   0.295   0.093   0.011     2.4
                    Cu
               cut-off

                 @0.5%      1208     1403      195   0.163   0.326   0.105   0.012     2.7
                    Cu
               cut-off

    MEX-0378     @0.3%    1064.5     1233    168.5   0.119   0.265   0.068   0.010     2.4
                    Cu
               cut-off

                 @0.5%    1064.5     1158     93.5   0.140   0.337   0.080   0.011     2.6
                    Cu
               cut-off


    Area 2 (deeper west Maturi):                                                   

        HOLE      Zone     From       To   Length      Pt      Pd      Au      Co      Ag

                           (ft)     (ft)     (ft)   (g/t)   (g/t)   (g/t)     (%)   (g/t)

    MEX-0350     @0.3%   2214.5     2359    144.5   0.121   0.299   0.095   0.012     2.1
                    Cu
               cut-off

                 @0.5%   2214.5     2344    129.5   0.131   0.321   0.103   0.013     2.3
                    Cu
               cut-off

    MEX-0357     @0.5%     1384     1528      144   0.186   0.432   0.085   0.012     2.8
                    Cu
               cut-off

                 @0.5%     1618     1703       85   0.178   0.420   0.071   0.009     2.4
                    Cu
               cut-off

    MEX-0360     @0.3%     2364     2518      154   0.130   0.298   0.064   0.012     2.3
                    Cu
               cut-off

                 @0.5%     2364     2453       89   0.166   0.380   0.081   0.013     2.8
                    Cu
               cut-off

    MEX-0366     @0.5%     2260   2362.5    102.5   0.197   0.411   0.083   0.012     3.0
                    Cu
               cut-off

    MEX-0370     @0.3%     2735     2888      153   0.121   0.310   0.076   0.011     1.6
                    Cu
               cut-off

                 @0.5%     2735     2813       78   0.170   0.437   0.114   0.013     2.2
                    Cu
               cut-off

    MEX-0373     @0.3%     2287     2422      135   0.174   0.375   0.090   0.010     2.9
                    Cu
               cut-off

                 @0.5%     2287     2392      105   0.204   0.435   0.105   0.011     3.3
                    Cu
               cut-off


    Area 3 (central Maturi):                                                       

        HOLE      Zone     From       To   Length      Pt      Pd      Au      Co      Ag

                           (ft)     (ft)     (ft)   (g/t)   (g/t)   (g/t)     (%)   (g/t)

    MEX-0351     @0.5%     2571     2633       62   0.273   0.639   0.116   0.010     2.7
                    Cu
               cut-off

    MEX-0354     @0.3%     2658     2838      180   0.207   0.454   0.102   0.007     2.3
                    Cu
               cut-off

                 @0.5%     2668     2833      165   0.216   0.469   0.106   0.007     2.4
                    Cu
               cut-off

    MEX-0362     @0.3%   2647.3   2817.5    170.2   0.178   0.428   0.088   0.011     2.1
                    Cu
               cut-off

                 @0.5%     2653     2738       85   0.227   0.579   0.099   0.012     2.8
                    Cu
               cut-off

    MEX-0367     @0.5%   2564.8     2712    147.2   0.209   0.497   0.107   0.010     3.0
                    Cu
               cut-off

                 @0.3%     1554     1749      195   0.158   0.497   0.095   0.012     4.4
                    Cu
               cut-off

    MEX-0374     @0.5%     1768     2008      240   0.136   0.334   0.075   0.011     3.1
                    Cu
               cut-off

    MEX-0375     @0.3%   2682.5     2818    135.5   0.206   0.414   0.120   0.008     2.0
                    Cu
               cut-off

                 @0.5%     2693     2788       95   0.238   0.460   0.141   0.008     2.2
                    Cu
               cut-off


    Area 4 (northeast Maturi):                                                 

                 Zone    From    To    Length     Pt      Pd      Au      Co      Ag

                         (ft)  (ft)     (ft)    (g/t)   (g/t)   (g/t)    (%)    (g/t)

    MEX-0353     @0.3%   2973   3153      180   0.270   0.641   0.118   0.010     2.8
                    Cu
               cut-off

                 @0.5%   3048   3148      100   0.438   1.030   0.180   0.011     4.6
                    Cu
               cut-off

    MEX-0355     @0.3%   2106   2213      107   0.062   0.150   0.035   0.010     1.4
                    Cu
               cut-off

                 @0.5%   2278 2436.5    158.5   0.189   0.499   0.094   0.011     3.1
                    Cu
               cut-off

    MEX-0358     @0.5%   2638   2738      100   0.186   0.522   0.105   0.009     3.0
                    Cu
               cut-off

    MEX-0363     @0.5%   1733   1778       45   0.158   0.389   0.080   0.014     2.7
                    Cu
               cut-off

    MEX-0369     @0.5%   2598   2643       45   0.132   0.335   0.092   0.010     2.6
                    Cu
               cut-off

                 @0.5%   2688   2798      110   0.225   0.443   0.099   0.009     2.7
                    Cu
               cut-off

    MEX-0376     @0.3%   2718   2868      150   0.147   0.394   0.088   0.010     2.4
                    Cu
               cut-off

                 @0.5%   2733   2823       90   0.179   0.480   0.112   0.011     2.9
                    Cu
               cut-off

The Twin Metals Minnesota Project covers over 32,000 acres of
land/mineral interests and consolidates the largest base and precious
metal land position in Minnesota. This extensive land position provides
Twin Metals with the platform to plan and develop one the world’s
largest copper-nickel-PGM deposits within a new emerging mining belt in
Minnesota, USA.

For the 2011-2012 Drill Program, half core samples are being prepared at
ALS Minerals laboratories in Thunder Bay and then shipped to its
analytical facilities in Vancouver. Samples are being analyzed for Au,
Pt, and Pd using a 30g standard fire assay with an ICP-AES finish and
for 33 other elements using a four acid (near total) digestion and a
combination of ICP-MS and ICP-AES. ICP over-limits for copper and
nickel are re-analyzed using dissolution four acid (near total)
digestion followed by ICP-AES or AAS. The remaining half core samples
are being stored in Minnesota.

Phillip Larson, P. Geo. is the Qualified Person for Duluth Metals and
Senior Geologist for Duluth Metals, in accordance with NI 43-101 of the
Canadian Securities Administrators, and is responsible for Duluth
Metals technical content of this press release and quality assurance of
the exploration data and analytical results.

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 Minnesota 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.

About Twin Metals Minnesota LLC

Twin Metals Minnesota, LLC, is a joint venture company, 60 percent owned
by Duluth Metals Limited and 40 percent by Antofagasta plc. Twin Metals
was formed in 2010 to pursue the development and operation of a copper,
nickel and platinum group metals (strategic metals) underground mining
project within the Duluth Complex in northeastern Minnesota. Twin
Metals holds mineral and land assets of approximately 32,000 acres of
leased and permitted land, including mineral resources prepared in
compliance with the requirements of NI 43-101.

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