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Last updated on April 18, 2014 at 6:52 EDT

Duluth Metals Highlights 153.5 feet of 0.767% Copper, 0.197% Nickel and 1.988 grams Total Precious Metals at Twin Metals Minnesota’s Birch Lake Deposit

November 27, 2012
        --  Drill results of an additional 28 holes (BL11-01 to BL12-21) in
            the Birch Lake Deposit of Twin Metals Minnesota
        --  The 28 drill holes from the Birch Lake Deposit which are
            featured in this press release will be factored into the final
            pre-feasibility AMEC resource numbers due early December 2012;
            this is in addition to the 159 additional drill holes and 70
            wedge offsets for the Maturi Deposit
        --  The final AMEC resource report will provide the basis for mine
            planning within the pre-feasibility study. Duluth Metals also
            expects the new estimate will confirm the extent and
            distribution of the higher grade portions of the deposit

TORONTO, Nov. 27, 2012 /PRNewswire/ – Duluth Metals Limited (“Duluth Metals”)
(TSX: DM) (TSX: DM.U) is pleased to announce assay results for 28 holes
on the Birch Lake Deposit within the Twin Metals Minnesota Project in
northeastern Minnesota. The Birch Lake Deposit is one of three mineral
resources in close proximity to one another within the Twin Metals
Minnesota Project, these being the Maturi, Birch Lake and Spruce Road
Deposits.  All of the holes have significant length intercepts
continuing to indicate a higher grade platinum+palladium+gold (TPM)
content within the Birch Lake resource relative to other resources in
the project. These additional holes will be incorporated into the final
resource estimate to be issued by AMEC in early December 2012.

“The addition of these holes to the Birch Lake database will provide the
basis for a stronger estimate in the western part of the Twin Metals
Minnesota Project. The Birch Lake resource provides potential
flexibility in the project as it is geographically separate (5 miles)
from Maturi, and shows a higher contribution to revenue from precious
metals than some of the other sections in the project”, stated Vern
Baker, President of Duluth Metals.

Drilling highlights in the Birch Lake Deposit include:

        --  BL11-07-W1returned a 153.5 foot intersection of 0.767% copper,
            0.197% nickel, 3.0 g/t silver and 1.988 grams TPM (TPM =
            Platinum+Palladium+Gold) at a 0.5% Cu cut-off.
        --  BL11-05returned a 67.5 foot intersection of 0.710% copper,
            0.230% nickel, 2.5 g/t silver and 1.817 grams TPM at a 0.5% Cu
            cut-off.
        --  BL12-09 returned a 101.3 foot intersection of 0.862% copper,
            0.273% nickel, 3.0 g/t silver and 1.237 grams TPM at a 0.5% Cu
            cut-off.
        --  BL12-10 returned a 53 foot intersection of 0.638% copper,
            0.182% nickel, 2.3 g/t silver and 1.158 grams TPM at a 0.5% Cu
            cut-off.

Figure 1 is a map illustrating the location of 28 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 BL11-01 to BL12-21 as
grouped by areas can be found in the table below. True thickness is
estimated at about 90% of core length:


        Hole            Zone      From   To  Length   Cu    Ni   TPM

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

    BL11-01    @0.3% Cu cut-off    2258 2333     75 0.393 0.169 2.689

    BL11-02    @0.3% Cu cut-off    2503 2573     70 0.418 0.134 0.311

    BL11-03    @0.5% Cu cut-off    2353 2578    225 0.651 0.194 0.781

    BL11-04    @0.5% Cu cut-off  2536.5 2588   51.5 0.606 0.225 0.941

    BL11-05    @0.5% Cu cut-off  2720.5 2788   67.5 0.710 0.230 1.817

    BL11-06    @0.3% Cu cut-off    2428 2543    115 0.437 0.113 0.401

               @0.5% Cu cut-off    2358 2398     40 0.607 0.190 0.572

    BL11-07-W1 @0.5% Cu cut-off  2303.5 2457  153.5 0.767 0.197 1.988

    BL11-08    @0.3% Cu cut-off  1718.5 1772   53.5 0.406 0.147 0.366

    BL12-01    @0.3% Cu cut-off    2672 2817    145 0.522 0.125 0.914

               @0.5% Cu cut-off    2692 2802    110 0.590 0.132 1.050

    BL12-02    @0.5% Cu cut-off    2477 2602    125 0.599 0.161 1.097

    BL12-03    @0.3% Cu cut-off    2397 2452     55 0.339 0.140 0.438

    BL12-04    @0.5% Cu cut-off  2527.7 2632  104.3 0.623 0.165 0.668

    BL12-05    @0.3% Cu cut-off  1839.5 1977  137.5 0.395 0.142 0.325

    BL12-07    No Significant Mineralized Intercepts

    BL12-08    @0.5% Cu cut-off    2202 2292     90 0.570 0.184 0.386

    BL12-09    @0.3% Cu cut-off  2475.7 2647  171.3 0.704 0.220 0.907

               @0.5% Cu cut-off  2475.7 2577  101.3 0.862 0.273 1.237

    BL12-10    @0.3% Cu cut-off    2146 2277    131 0.488 0.170 0.751

               @0.5% Cu cut-off    2198 2251     53 0.638 0.182 1.158

    BL12-11    @0.3% Cu cut-off  2341.1 2467  125.9 0.442 0.161 0.653

    BL12-12    @0.5% Cu cut-off    2601 2731    130 0.622 0.191 0.577

    BL12-13    @0.3% Cu cut-off  1605.5 1912  306.5 0.409 0.144 0.270

    BL12-14    @0.3% Cu cut-off    2352 2432     80 0.449 0.225 0.216

    BL12-15    @0.3% Cu cut-off    2416 2536    120 0.447 0.139 0.483

    BL12-16    @0.3% Cu cut-off    2402 2582    180 0.476 0.298 0.246

    BL12-17    @0.3% Cu cut-off    2426 2527    101 0.448 0.146 0.868

    BL12-18    @0.3% Cu cut-off    2327 2407     80 0.456 0.142 0.833

    BL12-19    @0.3% Cu cut-off  1704.5 1892  187.5 0.653 0.233 0.380

               @0.5% Cu cut-off  1704.5 1867  162.5 0.700 0.228 0.413

    BL12-20    @0.3% Cu cut-off    2233 2308     75 0.466 0.153 0.633

    BL12-21    @0.5% Cu cut-off 2203.25 2307 103.75 0.583 0.204 0.376

 

(*TPM = Platinum+Palladium+Gold) 

Complete gold, platinum, palladium, silver and cobalt assays for BL11-01
to BL12-21 are as follows:


        Hole      Zone    From   To  Length   Pt    Pd    Au    Co    Ag

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

    BL11-01    @0.3% Cu    2258 2333     75 0.901 1.567 0.221 0.013   1.4
               cut-off

    BL11-02    @0.3% Cu    2503 2573     70  0.08 0.181 0.050 0.011   1.3
               cut-off

    BL11-03    @0.5% Cu    2353 2578    225 0.204 0.473 0.105 0.012   2.4
               cut-off

    BL11-04    @0.5% Cu  2536.5 2588   51.5 0.274 0.562 0.105 0.011   2.1
               cut-off

    BL11-05    @0.5% Cu  2720.5 2788   67.5 0.510 1.115 0.192 0.009   2.5
               cut-off

    BL11-06    @0.3% Cu    2428 2543    115 0.155 0.190 0.056 0.011   1.7
               cut-off

               @0.5% Cu    2358 2398     40 0.147 0.340 0.085 0.010   2.1
               cut-off

    BL11-07-W1 @0.5% Cu  2303.5 2457  153.5 0.595 1.118 0.275 0.013   3.0
               cut-off

    BL11-08    @0.3% Cu  1718.5 1772   53.5 0.115 0.200 0.051 0.012   1.2
               cut-off

    BL12-01    @0.3% Cu    2672 2817    145 0.250 0.559 0.105 0.008   1.6
               cut-off

               @0.5% Cu    2692 2802    110 0.285 0.645 0.120 0.008   1.8
               cut-off

    BL12-02    @0.5% Cu    2477 2602    125 0.277 0.644 0.177 0.009   2.4
               cut-off

    BL12-03    @0.3% Cu    2397 2452     55 0.126 0.259 0.053 0.009   1.2
               cut-off

    BL12-04    @0.5% Cu  2527.7 2632  104.3 0.174 0.395 0.099 0.011   2.0
               cut-off

    BL12-05    @0.3% Cu  1839.5 1977  137.5 0.089 0.185 0.052 0.010   1.2
               cut-off

    BL12-07    No Significant Mineralized Intercepts

    BL12-08    @0.5% Cu    2202 2292     90 0.102 0.219 0.065 0.010   1.7
               cut-off

    BL12-09    @0.3% Cu  2475.7 2647  171.3 0.256 0.533 0.119 0.012   2.5
               cut-off

               @0.5% Cu  2475.7 2577  101.3 0.360 0.715 0.163 0.014   3.0
               cut-off

    BL12-10    @0.3% Cu    2146 2277    131 0.231 0.417 0.103 0.010   1.7
               cut-off

               @0.5% Cu    2198 2251     53 0.372 0.624 0.163 0.008   2.3
               cut-off

    BL12-11    @0.3% Cu  2341.1 2467  125.9 0.194 0.388 0.071 0.011   1.5
               cut-off

    BL12-12    @0.5% Cu    2601 2731    130 0.142 0.347 0.087 0.009   2.1
               cut-off

    BL12-13    @0.3% Cu  1605.5 1912  306.5 0.066 0.156 0.047 0.010   1.6
               cut-off

    BL12-14    @0.3% Cu    2352 2432     80 0.059 0.132 0.024 0.013   0.8
               cut-off

    BL12-15    @0.3% Cu    2416 2536    120 0.130 0.286 0.067 0.009   1.1
               cut-off

    BL12-16    @0.3% Cu    2402 2582    180 0.068 0.144 0.034 0.016   0.6
               cut-off

    BL12-17    @0.3% Cu    2426 2527    101 0.231 0.523 0.114 0.010   1.8
               cut-off

    BL12-18    @0.3% Cu    2327 2407     80 0.254 0.468 0.111 0.009   1.6
               cut-off

    BL12-19    @0.3% Cu  1704.5 1892  187.5 0.095 0.230 0.055 0.012   2.1
               cut-off

               @0.5% Cu  1704.5 1867  162.5 0.103 0.250 0.060 0.011   2.3
               cut-off

    BL12-20    @0.3% Cu    2233 2308     75 0.180 0.379 0.073 0.010   1.1
               cut-off

    BL12-21    @0.5% Cu 2203.25 2307 103.75 0.101 0.218 0.058 0.013   2.0
               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 Birch Lake Drill Program, half core samples were
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: Twin Metals – Birch Lake Drilling Nov. 2012 (CNW Group/Duluth Metals Limited)”. Image available at: http://photos.newswire.ca/images/download/20121127_C3693_PHOTO_EN_21238.jpg


Source: PR Newswire