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Last updated on April 17, 2014 at 11:49 EDT

Duluth Metals Highlights 155 feet of 0.917% Copper, 0.279% Nickel and 0.639 grams Total Precious Metals at west Maturi in the Twin Metals Minnesota Project

November 15, 2012
        --  Drill results of the remaining 23 holes (MEX-409 to MEX 436) in
            the Maturi Deposit to be used in the final pre-feasibility AMEC
            resource report
        --  Approximately 159 additional drill holes and 70 wedge offsets
            for the Maturi Deposit, including these 23 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. 15, 2012 /PRNewswire/ - Duluth Metals Limited (“Duluth Metals”) (TSX: DM) (TSX: DM.U) is pleased
to announce assay results for 23 additional holes, MEX-409 to 436, on
the Maturi Deposit within the Twin Metals Minnesota Project in
northeastern Minnesota. Assay results highlight Area 1 (shallow west Maturi), where 16 of the 17 drill holes have significant length intercepts with
average grades over 0.7% copper 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 initial mine planning. These additional holes will be incorporated
into the final resource estimate to be issued by AMEC later this month
(November 2012).

“These holes continue to show the continuity, thickness, and grade that
will provide us a strong resource estimate on which we can base the
pre-feasibility mine planning.” stated Vern Baker, President of Duluth
Metals. “The additional holes being added to the resource estimate have
been very encouraging and will provide for a very robust estimate. The
pre-feasibility study is also focusing on evaluating the optimum scale,
location, mining method, and metallurgical process for the Twin Metals
Minnesota Project.”

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

In Area 1 (shallow west Maturi):

        --  Mex-422Mreturned a 155 foot intersection of 0.917% copper,
            0.279% nickel, 4.1 g/t silver and 0.639 grams TPM (TPM =
            Platinum+Palladium+Gold) at a 0.5% Cu cut-off.
        --  Mex-430Mreturned a 180 foot intersection of 0.896% copper,
            0.256% nickel, 3.3 g/t silver and 0.689 grams TPM at a 0.5% Cu
            cut-off.
        --  Mex-412returned a 152 foot intersection of 0.896% copper,
            0.262% nickel, 3.1 g/t silver and 0.692 grams TPM at a 0.5% Cu
            cut-off.
        --  Mex-421Mreturned a 121.25 foot intersection of 0.889% copper,
            0.250% nickel, 3.4 g/t silver and 0.617 grams TPM at a 0.5% Cu
            cut-off.

In Area 2 (deeper west Maturi):

        --  Mex-409returned a 137 foot intersection of 0.833% copper,
            0.279% nickel, 2.7 g/t silver and 0.817 grams TPM at a 0.5% Cu
            cut-off.
        --  Mex-436Mreturned a 168 foot intersection of 0.746% copper,
            0.264% nickel, 2.4 g/t silver and 0.544 grams TPM at a 0.5% Cu
            cut-off.

A more detailed summary of the assay results for MEX- 409 to 436 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-0410    @0.5% Cu     1057   1243.5    186.5   0.820   0.247   0.564
                 cut-off

    MEX-0411    @0.5% Cu     1681     1831      150   0.753   0.254   0.541
                 cut-off

    MEX-0412    @0.5% Cu     1681     1833      152   0.896   0.262   0.692
                 cut-off

               Footwall      1857     1967      110   0.483   0.261   0.344

    MEX-0413    @0.3% Cu    987.5     1223    235.5   0.735   0.215   0.502
                 cut-off

                @0.5% Cu    987.5     1158    170.5   0.830   0.241   0.580
                 cut-off

    MEX-0414M   @0.5% Cu    770.5      996    225.5   0.856   0.277   0.678
                 cut-off

    MEX-0415M   @0.3% Cu     1034     1299      265   0.624   0.190   0.357
                 cut-off

                @0.5% Cu     1054     1234      180   0.706   0.240   0.449
                 cut-off

    MEX-0416    @0.3% Cu     1508     1670      162   0.809   0.251   0.726
                 cut-off

                @0.5% Cu     1508     1657      149   0.833   0.258   0.667
                 cut-off

    MEX-0418M   @0.3% Cu    591.8      893    301.2   0.759   0.229   0.591
                 cut-off

                @0.5% Cu    601.5      843    241.5   0.838   0.255   0.670
                 cut-off

    MEX-0420M   @0.3% Cu      654      853      199   0.629   0.190   0.462
                 cut-off

                @0.5% Cu      654      773      119   0.709   0.218   0.541
                 cut-off

    MEX-0421M   @0.5% Cu   466.75      588   121.25   0.889   0.250   0.617
                 cut-off

               Footwall       663      738       75   0.560   0.170   0.279

    MEX-0422M   @0.3% Cu     1440     1701      261   0.798   0.265   0.544
                 cut-off

                @0.5% Cu     1446     1601      155   0.917   0.279   0.639
                 cut-off

    MEX-0424M   @0.3% Cu      593      918      325   0.690   0.192   0.512
                 cut-off

                @0.5% Cu      593      838      245   0.770   0.210   0.596
                 cut-off

    MEX-0425M   @0.3% Cu    993.5     1278    284.5   0.671   0.207   0.470
                 cut-off

                @0.5% Cu    993.5     1153    159.5   0.852   0.254   0.616
                 cut-off

               Footwall      1283     1323       40   0.377   0.156   0.233

    MEX-0430M   @0.3% Cu      838     1103      265   0.753   0.215   0.557
                 cut-off

                @0.5% Cu      838     1018      180   0.896   0.256   0.689
                 cut-off

    MEX-0434M   @0.5% Cu     1542     1730      188   0.860   0.286   0.624
                 cut-off

    MEX-0435M   @0.5% Cu   1203.5     1303     99.5   0.882   0.278   0.670
                 cut-off


    Area 2 (deep west Maturi)                                          

    HOLE      Zone       From     To     Length   Cu      Ni      TPM

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

    MEX-0409  @0.5% Cu     2045   2182      137   0.833   0.279   0.817
               cut-off

    MEX-0417M @0.5% Cu     2165   2322      157   0.694   0.237   0.552
               cut-off

    MEX-0427  @0.3% Cu   2764.7   2842     77.3   0.584   0.224   0.646
               cut-off

              @0.5% Cu     2767   2817       50   0.653   0.240   0.764
               cut-off

    MEX-0428M @0.3% Cu     2150   2263      113   0.678   0.249   0.651
               cut-off

              @0.5% Cu     2150   2238       88   0.741   0.273   0.734
               cut-off

    MEX-0431M @0.3% Cu     2048   2178      130   0.574   0.214   0.423
               cut-off

              @0.5% Cu     2048   2128       80   0.659   0.237   0.496
               cut-off

    MEX-0433M @0.3% Cu     2457   2558      101   0.555   0.249   0.530
               cut-off

              @0.5% Cu     2462   2517       55   0.599   0.236   0.661
               cut-off

              Footwall     2558   2592       34   0.548   0.293   0.384

    MEX-0436M @0.3% Cu     1844   2022      178   0.722   0.255   0.524
               cut-off

              @0.5% Cu     1844   2012      168   0.746   0.264   0.544
               cut-off

    (*TPM =
    Platinum+Palladium+Gold) 

Complete gold, platinum, palladium, silver and cobalt assays for MEX-409
to 436 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-0410  @0.5% Cu     1057   1243.5    186.5   0.143   0.342   0.080   0.012     3.1
               cut-off

    MEX-0411  @0.5% Cu     1681     1831      150   0.150   0.316   0.074   0.014     2.9
               cut-off

    MEX-0412  @0.5% Cu     1681     1833      152   0.162   0.437   0.093   0.012     3.1
               cut-off

              Footwall     1857     1967      110   0.084   0.216   0.044   0.007     1.4

    MEX-0413  @0.3% Cu    987.5     1223    235.5   0.125   0.304   0.072   0.011     2.8
               cut-off

              @0.5% Cu    987.5     1158    170.5   0.146   0.351   0.083   0.012     3.1
               cut-off

    MEX-0414M @0.5% Cu    770.5      996    225.5   0.171   0.404   0.103   0.014     2.8
               cut-off

    MEX-0415M @0.3% Cu     1034     1299      265   0.085   0.215   0.057   0.011     2.0
               cut-off

              @0.5% Cu     1054     1234      180   0.109   0.269   0.070   0.015     2.4
               cut-off

    MEX-0416  @0.3% Cu     1508     1670      162   0.235   0.386   0.104   0.010     3.2
               cut-off

              @0.5% Cu     1508     1657      149   0.162   0.396   0.109   0.011     3.3
               cut-off

    MEX-0418M @0.3% Cu    591.8      893    301.2   0.152   0.351   0.089   0.012     2.5
               cut-off

              @0.5% Cu    601.5      843    241.5   0.174   0.397   0.098   0.013     2.8
               cut-off

    MEX-0420M @0.3% Cu      654      853      199   0.113   0.277   0.072   0.009     2.5
               cut-off

              @0.5% Cu      654      773      119   0.134   0.320   0.087   0.010     2.7
               cut-off

    MEX-0421M @0.5% Cu   466.75      588   121.25   0.131   0.362   0.123   0.011     3.4
               cut-off

              @0.5% Cu      663      738       75   0.076   0.159   0.043   0.009     2.1
               cut-off

    MEX-0422M @0.3% Cu     1440     1701      261   0.133   0.328   0.083   0.012     3.3
               cut-off

              @0.5% Cu     1446     1601      155   0.159   0.382   0.099   0.012     4.1
               cut-off

    MEX-0424M @0.3% Cu      593      918      325   0.125   0.318   0.069   0.011     2.8
               cut-off

              @0.5% Cu      593      838      245   0.147   0.370   0.079   0.012     3.1
               cut-off

    MEX-0425M @0.3% Cu    993.5     1278    284.5   0.120   0.278   0.072   0.010     2.3
               cut-off

              @0.5% Cu    993.5     1153    159.5   0.171   0.361   0.084   0.011     3.0
               cut-off

              Footwall     1283     1323       40   0.060   0.140   0.033   0.006     1.2

    MEX-0430M @0.3% Cu      838     1103      265   0.142   0.320   0.094   0.011     2.7
               cut-off

              @0.5% Cu      838     1018      180   0.177   0.395   0.118   0.012     3.3
               cut-off

    MEX-0434M @0.5% Cu     1542     1730      188   0.151   0.363   0.110   0.013     3.1
               cut-off

    MEX-0435M @0.5% Cu   1203.5     1303     99.5   0.167   0.406   0.096   0.012     2.9
               cut-off

    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-0409  @0.5% Cu     2045   2182      137   0.219   0.447   0.151   0.012     2.7
               cut-off

    MEX-0417M @0.5% Cu     2165   2322      157   0.166   0.311   0.075   0.010     2.1
               cut-off

    MEX-0427  @0.3% Cu   2764.7   2842     77.3   0.143   0.359   0.144   0.009     2.0
               cut-off

              @0.5% Cu     2767   2817       50   0.164   0.411   0.189   0.010     2.2
               cut-off

    MEX-0428M @0.3% Cu     2150   2263      113   0.140   0.315   0.196   0.011     2.8
               cut-off

              @0.5% Cu     2150   2238       88   0.150   0.347   0.236   0.013     3.1
               cut-off

    MEX-0431M @0.3% Cu     2048   2178      130   0.121   0.246   0.055   0.011     2.3
               cut-off

              @0.5% Cu     2048   2128       80   0.142   0.290   0.064   0.011     2.7
               cut-off

    MEX-0433M @0.3% Cu     2457   2558      101   0.128   0.264   0.139   0.012     3.1
               cut-off

              @0.5% Cu     2462   2517       55   0.144   0.309   0.209   0.012     1.8
               cut-off

              Footwall     2558   2592       34   0.088   0.206   0.089   0.009     1.4

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 23 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/20121115_C8286_PHOTO_EN_20703.jpg


Source: PR Newswire