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Last updated on April 23, 2014 at 21:24 EDT

Duluth Metals Announces High Grade Nickel Intercepts Indicative of New Contact Zones in the Maturi Deposit

September 4, 2013
        --  Two high grade nickel intersections with significant off hole
            electromagnetic anomalies
        --  Down hole Crone electromagnetic surveys indicate strong
            conductivity off hole from Mex-50 and Mex-111
        --  New geophysical and drilling results indicate potential for
            semi-massive to massive sulphide mineralization

TORONTO, Sept. 4, 2013 /PRNewswire/ – Duluth Metals Limited (“Duluth Metals”)
(TSX: DM) (TSX: DM.U) is pleased to announce that a zone of high grade
nickel-copper mineralization has been intersected on the southern edge
of the Maturi Deposit within the Twin Metals Minnesota (“Twin Metals”)
Project in northeastern Minnesota.  Drilled as part of the
metallurgical program, Hole MEX276-W1 intersected 26.5 feet of 3.93% nickel, 0.68% copper, 0.44 g/t silver, and 0.44 g/t
TPM
(TPM = Platinum+Palladium+Gold). A follow-up hole, MEX-468, drilled approximately 300 feet to the southwest intersected 15.0 feet of 1.52% nickel, 0.99% copper, 0.50 g/t TPM. Crone down-hole electromagnetic surveying in MEX-468 has confirmed
extensive off-hole conductivity. As the drill holes are within the
margin of an extensive coincidental conductive zone, there is strong
potential for additional higher grade mineralization within this area.

Geophysical Crone down-hole electromagnetic (EM) surveying in
drill-holes MEX-50, MEX-111 and MEX-468 has shown strong conductivity
off-hole from MEX-50 and MEX-111 in a zone extending 2500 feet long by
500 to 1000′ wide with better conductivity in the immediate vicinity of
MEX-468 as shown in Figure 1. The new nickel mineralization occurs as
massive to semi-massive sulphides, at, or immediately below the contact
between the South Kawishiwi Intrusion and the Giants Range batholith. 
On time, step response data from the Crone survey, indicates a zone of
higher conductivity in close proximity to MEX-468, within the larger
conductive zone. Higher conductivity is indicative of greater
concentrations of conductive minerals, such as massive sulfides.

“Within a massive mineralized system like Twin Metals, our geologists
have always believed there is potential for higher grade pods of
mineralization.” stated Christopher Dundas, Chairman and CEO of Duluth
Metals Limited.  “These new off-hole anomalies suggest that the
conductive zone is extensive and requires additional drilling to test
the central portions for massive and semi-massive sulphides.”

“This drilling shows that the geologic potential of the Twin Metals
Project can continue to evolve.” commented, Vern Baker, President of
Duluth Metals. “We see the possibility of higher grade massive sulphide
zones within the TMM project area. The opportunity to find and define
these zones may add a new dimension to what is already a world class
project.”

Other higher grade nickel intersections have been reported on the
margins of the conductive zone in previous holes drilled by Twin
Metals.  MEX-276 intersected 5 feet of 1.76% nickel, 0.73% copper, 0.31 g/t TPM; MEX-439M-W1 intersected 5 feet of 1.56% nickel, 0.55% copper, 0.54 g/t TPM; and MEX-439M-W3 intersected 5 feet of 1.18% nickel, 0.98% copper, 0.36 g/t TPM.

In addition, historic hole DU-13, which is located approximately 3000 feet to the south within a
mineralized area previously referred to as the Nickel Ridge Area,
reported 10 feet of 1.57% nickel, 1.03% copper.  (See Duluth Metals press release dated August 18, 2009.)  There is no
drilling between this hole and the newly identified mineralization.

Figure 1 shows the two reported holes, historic drill holes and the
conductive zones.

A more detailed summary of the assay results for MEX-468 and nearby
nickel-rich footwall mineralization including MEX-276-W1 results can be
found in the table below. True width is estimated at about 80-90% of
core length.


          HOLE            Zone    From    To  Length  Cu   Ni   Co   TPM

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

       MEX-0276  @1.0% Ni cut-off 3003   3008    5   0.73 1.76 0.05 0.31

    MEX-0276-W1  @0.5% Ni cut-off 3113 3139.5  26.5  0.68 3.93 0.13 0.43

       Including @1.0% Ni cut-off 3118 3139.5  21.5  0.76 4.66 0.15 0.50

    MEX-0439M-W1 @0.5% Ni cut-off 2858   2893    35  0.42 0.66 0.02 0.31

       Including @1.0% Ni cut-off 2878   2883    5   0.55 1.56 0.05 0.54

    MEX-0439M-W3 @0.5% Ni cut-off 2868   2893    25  0.56 0.76 0.03 0.32

       Including @1.0% Ni cut-off 2888   2893    5   0.98 1.18 0.04 0.36

       MEX-0468  @0.5% Ni cut-off 3099   3124    25  0.71 1.14 0.04 0.41

       Including @1.0% Ni cut-off 3109   3124    15  0.99 1.52 0.06 0.50

**TPM = Total Precious Metals (Platinum+Palladium+Gold)

Note:   g/t = grams per tonne

Complete platinum, palladium, gold and silver and assays for MEX-468 and
nearby nickel-rich footwall mineralization including MEX-276-W1 are as
follows:


          HOLE      Zone  From    To  Length   Pt    Pd    Au    Ag

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

       MEX-0276  @1.0% Ni 3003   3008    5   0.08  0.21  0.03   0.6
                 cut-off

    MEX-0276-W1  @0.5% Ni 3113 3139.5  26.5   0.1  0.32  0.01  <0.05
                 cut-off

       Including @1.0% Ni 3118 3139.5  21.5  0.11  0.38  0.01   0.1
                 cut-off

    MEX-0439M-W1 @0.5% Ni 2858   2893    35  0.08   0.2  0.02   0.5
                 cut-off

       including @1.0% Ni 2878   2883    5   0.13  0.39  0.02   0.7
                 cut-off

    MEX-0439M-W3 @0.5% Ni 2868   2893    25  0.09  0.21  0.02   0.6
                 cut-off

       including @0.5% Ni 2888   2893    5   0.09  0.25  0.02   1.0
                 cut-off

       MEX-0468  @0.5% Ni 3099   3124    25  0.10  0.28  0.04   0.9
                 cut-off

       including @1.0% Ni 3109   3124    15  0.11  0.34  0.05   1.2
                 cut-off

Historic drill results referenced in Duluth Metals August 18, 2009 press
release is as follows:


       HOLE            Zone    From  To  Length  Cu   Ni

                               (ft) (ft)  (ft)  (%)  (%)

       DU-13  @0.5% Cu cut-off 3540 3600    60  0.58 0.46

    including @1.0% Ni cut-off 3540 3550    10  1.03 1.57

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 2013 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-MS. 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 – Geology, Drill Hole Ni Intercepts and Conductive Zones (CNW Group/Duluth Metals Limited)”. Image available at: http://photos.newswire.ca/images/download/20130904_C9976_PHOTO_EN_30355.jpg


Source: PR Newswire