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Last updated on April 18, 2014 at 15:44 EDT

Duluth Metals Highlights 136 feet of 0.945% Copper, 0.256% Nickel and 0.638 grams Total Precious Metals at west Maturi in the Twin Metals Minnesota Project

November 9, 2012
        --  Drill results of an additional 30 holes (MEX-379 to MEX 408) in
            the Maturi Deposit of Twin Metals Minnesota
        --  Approximately 159 additional drill holes and 70 wedge offsets
            for the Maturi Deposit, including the 30 holes featured in this
            press release, will be factored into the final pre-feasibility
            AMEC resource numbers due later this month (November 2012)
        --  The final pre-feasibility AMEC resource estimate report will
            confirm the extent and distribution  of the higher grade
            portions of the deposit the  presence of which is indicated by
            the current drill results

TORONTO, Nov. 9, 2012 /PRNewswire/ – Duluth Metals Limited (“Duluth Metals”)
(TSX: DM) (TSX: DM.U) is pleased to announce assay results for 30
additional holes, MEX-379 to 408, on the Maturi Deposit within the Twin
Metals Minnesota Project in northeastern Minnesota. The majority of the
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. These additional holes will be
incorporated into the final resource estimate to be issued by AMEC
later this month (November 2012).

“These additional 30 holes will be factored into the final
pre-feasibility AMEC resource study which we are expecting by the end
of this month”, stated Vern Baker, President of Duluth Metals. “The
final pre-feasibility AMEC resource estimate will allow mine planning
to focus on early utilization of the most economic mineralization. This
resource estimate is expected to upgrade a significant portion 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-400 returned a 136 foot intersection of 0.945% copper,
            0.256% nickel, 3.2 g/t silver and 0.638 grams TPM (TPM =
            Platinum+Palladium+Gold) at a 0.5% Cu cut-off.
        --  Mex-390returned a 189 foot intersection of 0.829% copper,
            0.253% nickel, 2.4 g/t silver and 0.519 grams TPM at a 0.5% Cu
            cut-off.

In Area 2 (deeper west Maturi):

        --  Mex-399returned a 172.5 foot intersection of 0.793% copper,
            0.280% nickel, 2.6 g/t silver and 0.578 grams TPM at a 0.5% Cu
            cut-off.
        --  Mex-388returned a 115.5 foot intersection of 0.653% copper,
            0.259% nickel, 3.0 g/t silver and 0.719 grams TPM at a 0.5% Cu
            cut-off.

In Area 3 (central Maturi):

        --  Mex-381 returned a 125 foot intersection of 0.866% copper,
            0.266% nickel, 2.8 g/t silver and 0.661 grams TPM (TPM =
            Platinum+Palladium+Gold) at a 0.5% Cu cut-off.
        --  Mex-391 returned a 148.5 foot intersection of 0.853% copper,
            0.269% nickel, 3.3 g/t silver and 0.882 grams TPM at a 0.5% Cu
            cut-off.

A more detailed summary of the assay results for MEX-379 to 408 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-0379 @0.3% Cu cut-off    1733   1828     95 0.420 0.173 0.386

                   Footwall      2088   2148     60 0.817 0.178 0.491

    MEX-0383 @0.3% Cu cut-off  1135.5   1319  183.5 0.698 0.220 0.546

             @0.5% Cu cut-off  1135.5   1274  138.5 0.797 0.250 0.622

                   Footwall      1424   1484     60 0.421 0.160 0.355

    MEX-0384 @0.5% Cu cut-off     713    848    135 0.699 0.212 0.515

             @0.5% Cu cut-off     868    923     55 0.550 0.179 0.288

                                           9
             @0.3% Cu cut-off     963     92     29 0.435 0.147 0.234

    MEX-0385 @0.3% Cu cut-off    1308   1473    165 0.683 0.213 0.478

             @0.5% Cu cut-off    1308   1433    125 0.753 0.234 0.536

                   Footwall      1493   1558     65 0.506 0.175 0.371

                   Footwall      1573   1598     25 0.462 0.131 0.358

                   Footwall      1778   1813     35 0.436 0.103 0.310

    MEX-0386 @0.5% Cu cut-off   957.5   1193  235.5 0.666 0.210 0.530

    MEX-0387 @0.5% Cu cut-off     953   1158    205 0.713 0.212 0.490

    MEX-0389 @0.5% Cu cut-off  1626.5   1778  151.5 0.646 0.274 0.549

    MEX-0390 @0.3% Cu cut-off    1284   1538    254 0.743 0.225 0.458

             @0.5% Cu cut-off    1284   1473    189 0.829 0.253 0.519

    MEX-0392 @0.5% Cu cut-off     537    727    190 0.618 0.184 0.436

             @0.3% Cu cut-off     822    872     50 0.413 0.125 0.206

    MEX-0393 @0.3% Cu cut-off    1003   1088     85 0.613 0.253 0.554

             @0.5% Cu cut-off    1003   1038     35 0.845 0.346 0.839

    MEX-0394 @0.5% Cu cut-off  1836.5   1858   21.5 0.672 0.242 0.738

    MEX-0395 @0.5% Cu cut-off  1099.5   1193   93.5 0.891 0.279 0.567

             @0.5% Cu cut-off    1213   1263     50 0.641 0.193 0.378

             @0.3% Cu cut-off    1278   1308     30 0.590 0.196 0.330

    MEX-0396 @0.5% Cu cut-off    1643   1883    240 0.743 0.234 0.699

    MEX-0397 @0.3% Cu cut-off     918    948     30 0.498 0.158 0.277

             @0.3% Cu cut-off     998   1083     85 0.416 0.130 0.288

             @0.5% Cu cut-off     678    838    160 0.776 0.223 0.637

    MEX-0398 @0.5% Cu cut-off    1227   1338    111 0.779 0.264 0.692

             @0.3% Cu cut-off    1373   1398     25 0.471 0.167 0.314

    MEX-0400 @0.3% Cu cut-off    1408   1593    185 0.812 0.225 0.541

             @0.5% Cu cut-off    1412   1548    136 0.945 0.256 0.638

    MEX-0402 @0.5% Cu cut-off  772.25   1063 290.75 0.667 0.197 0.482

    MEX-0403 @0.3% Cu cut-off    1123   1327    204 0.692 0.195 0.405

    MEX-0404 @0.5% Cu cut-off    1463   1677    214 0.743 0.235 0.525

    MEX-0405 @0.5% Cu cut-off 1178.75 1358.5 179.75 0.749 0.230 0.572

    MEX-0406 @0.3% Cu cut-off  1262.5   1502  239.5 0.692 0.219 0.458

             @0.5% Cu cut-off  1262.5   1457  194.5 0.761 0.241 0.512

    MEX-0407 @0.3% Cu cut-off  1249.5   1508  258.5 0.688 0.210 0.474

             @0.5% Cu cut-off  1249.5   1398  148.5 0.830 0.256 0.583

    MEX-0408 @0.3% Cu cut-off     889   1149    260 0.636 0.192 0.423

             @0.5% Cu cut-off     889   1094    205 0.688 0.211 0.462

                   Footwall      1174   1234     60 0.387 0.125 0.244


    Area 2 (deep west Maturi)

    HOLE     Zone             From   To     Length Cu    Ni    TPM

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

    MEX-0380 @0.5% Cu cut-off   2457   2542     85 0.614 0.204 0.521

    MEX-0388 @0.5% Cu cut-off   2592 2707.5  115.5 0.653 0.259 0.719

    MEX-0399 @0.5% Cu cut-off 1945.5   2118  172.5 0.793 0.280 0.578


    Area 3 (central Maturi)

    HOLE     Zone             From   To   Length Cu    Ni    TPM

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

    MEX-0381 @0.3% Cu cut-off   2233 2418    185 0.710 0.221 0.524

             @0.5% Cu cut-off   2233 2358    125 0.866 0.266 0.661

    MEX-0382 @0.3% Cu cut-off   2097 2276    179 0.621 0.206 0.572

             @0.5% Cu cut-off   2097 2241    144 0.662 0.215 0.608

    MEX-0391 @0.5% Cu cut-off 2479.5 2628  148.5 0.853 0.269 0.882

    MEX-0401 @0.3% Cu cut-off   1938 2108    170 0.706 0.256 0.660

             @0.5% Cu cut-off   1938 2098    160 0.726 0.265 0.682

                   Footwall     2138 2193     55 0.518 0.312 0.473

(*TPM = Platinum+Palladium+Gold) 

Complete gold, platinum, palladium, silver and cobalt assays for MEX-379
to 408 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-0379 @0.3% Cu    1733   1828     95 0.103 0.243 0.041 0.010   1.3
             cut-off

             Footwall    2088   2148     60 0.130 0.281 0.080 0.008   3.3

    MEX-0383 @0.3% Cu  1135.5   1319  183.5 0.134 0.335 0.076 0.010   1.1
             cut-off

             @0.5% Cu  1135.5   1274  138.5 0.153 0.384 0.085 0.010   2.6
             cut-off

             Footwall    1424   1484     60 0.092 0.211 0.052 0.007   0.6

    MEX-0384 @0.5% Cu     713    848    135 0.125 0.295 0.095 0.012   2.7
             cut-off

             @0.5% Cu     868    923     55 0.080 0.159 0.048 0.012   1.5
             cut-off

             @0.3% Cu     963    992     29 0.067 0.130 0.037 0.009   1.5
             cut-off

    MEX-0385 @0.3% Cu    1308   1473    165 0.128 0.279 0.071 0.011   2.4
             cut-off

             @0.5% Cu    1308   1433    125 0.145 0.313 0.078 0.012   2.6
             cut-off

             Footwall    1493   1558     65 0.092 0.225 0.054 0.007   1.8

             Footwall    1573   1598     25 0.092 0.212 0.055 0.004   1.5

             Footwall    1778   1813     35 0.080 0.192 0.039 0.003   2.0

    MEX-0386 @0.5% Cu   957.5   1193  235.5 0.139 0.316 0.075 0.011   2.2
             cut-off

    MEX-0387 @0.5% Cu     953   1158    205 0.124 0.296 0.071 0.012   2.7
             cut-off

    MEX-0389 @0.5% Cu  1626.5   1778  151.5 0.145 0.317 0.087 0.012   2.1
             cut-off

    MEX-0390 @0.3% Cu    1284   1538    254 0.117 0.273 0.067 0.010   2.1
             cut-off

             @0.5% Cu    1284   1473    189 0.132 0.312 0.075 0.011   2.4
             cut-off

    MEX-0392 @0.5% Cu     537    727    190 0.097 0.255 0.058 0.010   4.3
             cut-off

             @0.3% Cu     822    872     50 0.049 0.121 0.037 0.011   1.5
             cut-off

    MEX-0393 @0.3% Cu    1003   1088     85 0.143 0.316 0.095 0.014   2.2
             cut-off

             @0.5% Cu    1003   1038     35 0.222 0.475 0.142 0.018   3.2
             cut-off

    MEX-0394 @0.5% Cu  1836.5   1858   21.5 0.238 0.418 0.082 0.014   5.2
             cut-off

    MEX-0395 @0.5% Cu  1099.5   1193   93.5 0.133 0.328 0.106 0.012   2.7
             cut-off

             @0.5% Cu    1213   1263     50 0.102 0.219 0.057 0.009   2.2
             cut-off

             @0.3% Cu    1278   1308     30 0.092 0.198 0.040 0.011   2.1
             cut-off

    MEX-0396 @0.5% Cu    1643   1883    240 0.172 0.424 0.103 0.010   2.8
             cut-off

    MEX-0397 @0.3% Cu     918    948     30 0.073 0.157 0.048 0.010   1.5
             cut-off

             @0.3% Cu     998   1083     85 0.066 0.170 0.051 0.008   1.7
             cut-off

             @0.5% Cu     678    838    160 0.164 0.327 0.145 0.011   2.6
             cut-off

    MEX-0398 @0.5% Cu    1227   1338    111 0.182 0.410 0.100 0.012   2.4
             cut-off

             @0.3% Cu    1373   1398     25 0.076 0.190 0.048 0.010   1.1
             cut-off

    MEX-0400 @0.3% Cu    1408   1593    185 0.136 0.320 0.084 0.010   2.6
             cut-off

             @0.5% Cu    1412   1548    136 0.166 0.373 0.098 0.011   3.2
             cut-off

    MEX-0402 @0.5% Cu  772.25   1063 290.75 0.123 0.260 0.100 0.010   2.3
             cut-off

    MEX-0403 @0.3% Cu    1123   1327    204 0.096 0.238 0.071 0.010   2.4
             cut-off

             @0.5% Cu    1123   1257    134 0.118 0.301 0.088 0.012   2.8
             cut-off

    MEX-0404 @0.5% Cu    1463   1677    214 0.134 0.307 0.085 0.010   2.5
             cut-off

    MEX-0405 @0.5% Cu 1178.75 1358.5 179.75 0.145 0.341 0.086 0.011   2.8
             cut-off

    MEX-0406 @0.3% Cu  1262.5   1502  239.5 0.112 0.280 0.066 0.011   2.1
             cut-off

             @0.5% Cu  1262.5   1457  194.5 0.126 0.313 0.073 0.012   2.2
             cut-off

    MEX-0407 @0.3% Cu  1249.5   1508  258.5 0.121 0.263 0.089 0.010   2.6
             cut-off

             @0.5% Cu  1249.5   1398  148.5 0.139 0.327 0.116 0.011   3.0
             cut-off

    MEX-0408 @0.3% Cu     889   1149    260 0.106 0.249 0.068 0.010   3.5
             cut-off

             @0.5% Cu     889   1094    205 0.117 0.272 0.073 0.011   3.9
             cut-off

             Footwall    1174   1234     60 0.058 0.149 0.037 0.007   1.6


    Area 2 (deep west Maturi)

    HOLE     Zone     From   To     Length Pt    Pd    Au    Co    Ag

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

    MEX-0380 @0.5% Cu   2457   2542     85 0.128 0.296 0.097 0.009   2.0
              cut-off

    MEX-0388 @0.5% Cu   2592 2707.5  115.5 0.211 0.437 0.071 0.012   3.0
              cut-off

    MEX-0399 @0.5% Cu 1945.5   2118  172.5 0.161 0.347 0.070 0.012   2.6
              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-0381 @0.3% Cu   2233 2418    185 0.162 0.293 0.071 0.010   2.3
              cut-off

             @0.5% Cu   2233 2358    125 0.208 0.364 0.089 0.011   2.8
              cut-off

    MEX-0382 @0.3% Cu   2097 2276    179 0.155 0.314 0.103 0.011   2.4
              cut-off

             @0.5% Cu   2097 2241    144 0.163 0.336 0.110 0.012   2.6
              cut-off

    MEX-0391 @0.5% Cu 2479.5 2628  148.5 0.247 0.521 0.114 0.011   3.3
              cut-off

    MEX-0401 @0.3% Cu   1938 2108    170 0.161 0.414 0.085 0.010   2.6
              cut-off

             @0.5% Cu   1938 2098    160 0.166 0.428 0.087 0.011   2.6
              cut-off

             Footwall   2138 2193     55 0.131 0.282 0.060 0.011   2.0

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

Image with caption: “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. (CNW Group/Duluth Metals Limited)”. Image available at: http://photos.newswire.ca/images/download/20121109_C6237_PHOTO_EN_20371.jpg


Source: PR Newswire