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Duluth Metals continues to identify additional PGM mineralization in the East Shore area of their exploration lands

March 3, 2014

TORONTO, March 3, 2014 /PRNewswire/ – Duluth Metals Limited (“Duluth, Duluth Metals”) (TSX: DM) (TSX:DM.U) is pleased to announce an exploration update on the East Shore property
which is part of Duluth’s 100% owned exploration properties in the
Duluth Complex, northeast Minnesota. In 2012, Duluth Metals geologists
discovered a previously unidentified zone of palladium-platinum in the
eastern marginal zone of the South Kawishiwi Intrusion (SKI), Duluth
Complex. Highlights from a recent four hole shallow drill program
include hole 14-DM-052 which returned 11.8 feet of 1.993 TPM (TPM=Pt+Pd+Au, expressed as grams
per tonne), 0.505% copper and 0.172% nickel, and hole 14-DM-049 which returned 11.3 feet of 1.794 TPM, 0.399% copper and 0.121% nickel.

Vern Baker, President of Duluth Metals commented, “Following up on 2012
results the Duluth geological team focused on mapping, geophysics
interpretation, and sampling in the area of enriched PGM
mineralization. That work developed a geologic model for the area. The
geologic model developed from the consistent pattern of finding PGM
rich anorthositic rocks just to the east of a xenolithic contact zone
between the troctolite of the SKI and the Anorthositic Series
(AN-Series). This pattern coincided with a geophysical signature
related to the xenolith package. The geologic model hypothesizes an
enrichment zone contiguous with this contact. Results from this limited
shallow drill program consistently show enriched PGMs adjacent to the
contact. This strengthens the model and indicates additional work to
identify areas of stronger mineralization.”

The mineralization occurs in numerous outcrops and in float, along the
contact between the AN-Series and the SKI south of Bogberry Lake, as
reported by Duluth Metals in a February 5, 2013 Press Release entitled
“Duluth Metals Identifies Two New Mineralized Areas on Exploration
Lands”. The mineralization consists of fine to medium-grained
chalcopyrite, pyrrhotite, and PGE-bearing minerals. Outcrop sampling
results from sulfide-rich gabbroic anorthosite of the AN-Series yielded
up to 3.54 g/t TPM, and float sampling up to 7.74 g/t TPM. Two
drillholes intersected the mineralized zone at depth; 12-DM-007
returned an 11.7 foot intersection of 3.28 g/t TPM, and 12-DM-006
returned a 13.9 foot intersection of 1.63 g/t TPM.

Work during the 2013 field season focused on further delineating this
mineralized zone. A curvilinear magnetic lineament, which trends to the
northwest, and the SKI – AN-Series contact between Bogberry and Heart
Lake were investigated for PGE potential. Numerous high-grade outcrop
samples were collected in addition to the second highest Duluth Metals
Pt in till value 47 ppb (where >10 ppb is highly anomalous). Large
outcrop samples (1-5 kg in weight) yielded up to 2.03 g/ton TPM. Grab
samples from outcrops contained up to 1.64 g/ton TPM. A consistent ~2:1
ratio of Pd to Pt is observed for most outcrop and boulder samples,
while copper contents are typically low (0.08-0.33 wt %). Detailed
mapping (1:5,000 scale) and assay highlights from over two hundred till
and rock geochemical samples that were collected in the area during the
2012-2013 field season are presented in Figure 1.

Drill sections for holes 14-DM-049 and 050 are presented in Figure 2,
and for holes 14-DM-051 and 052 in Figure 3, respectively. The sections
demonstrate that the mapped surface PGE-enriched mineralization of the
margin of the AN-Series, where the presence of magnetic basalt and
sandstone xenoliths occur, has continuity at depth.

Currently, the mineralized zone, which ranges from 1.0 to 5.0 g/t TPM
(TPM = platinum+palladium+gold, expressed as grams per tonne), is
defined along 1.2 km strike length and extends down dip to a known
depth of 200 feet. The mineralization occurs along the contact between
the SKI and AN-Series gabbroic anorthosites. The hanging wall
troctolite is very heterogeneous and contains numerous oxide-rich
magnetic xenoliths. The spatial relationship between the magnetic
xenoliths and mineralization suggests PGE-prospectivity could extend an
additional 1.5 km to the northwest along a curvilinear magnetic
lineament defined by these oxide-rich xenoliths. Geophysical
conductors, ~2.5 km south of known high-grade outcrops, along the trend
of heterogeneous troctolitic rocks at the SKI – AN-Series contact
suggest further potential for PGE-rich zones along the entire southern
extent of the contact.

The xenoliths consists of dark grey, fine-grained, non-magnetic to
magnetic basalt from the North Shore Volcanic Group, and a light
brownish-grey, banded, granular, plagioclase-magnetite-rich rock
interpreted to belong to the Colvin Creek metasedimentary package.
PGE-mineralization hosted within the anorthosite footwall consistently
occurs beneath the magnetic basalt/Colvin Creek xenolith package. The
mineralized zone consists of fine-to medium-grained disseminated
chalcopyrite with minor pyrrhotite.

The East Shore area property is part of Duluth’s 40,000 acres of 100%
owned exploration properties. The location of the East Shore property
is shown in Figure 4.

About the Sampling

Duluth Metals adheres to a rigorous QA/QC program as a part of sampling
procedures throughout the drill program. Duplicate, blank, and
reference standards are inserted into the sample stream prior to
submittal the laboratory. Half core samples are crushed and pulverized
at ALS Minerals in Thunder Bay, Ontario, and then shipped to its
analytical facilities in Vancouver, British Columbia. Samples are
analyzed for Au, Pt, and Pd using a 30 gram fire assay with an ICP-AES
finish, and for Cu, Ni, and other trace elements using a four acid
(near total) digestion and a combination of ICP-MS and ICP-AES
finishes. Overlimits are re-analyzed using sodium peroxide fusion, acid
dissolution, followed by an ICP-AES finish. The remaining half core
samples are 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
Metal’s 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 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.

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.

Cautionary Note to United States Investors Concerning Estimates of
Indicated and Inferred Mineral Resources


This press release uses the terms “Indicated Mineral Resources” and
“Inferred Mineral Resources” in accordance with the Canadian Institute
of Mining, Metallurgy and Petroleum (CIM) Definition Standards. While
such terms are recognized under Canadian securities legislation, the
United States Securities and Exchange Commission does not recognize
these terms. The term “Inferred Mineral Resource” refers to a mineral
resource for which quantity and grade or quality can be estimated on
the basis of geological evidence and limited sampling and reasonably
assumed, but not verified, geological and grade continuity. These
estimates are based on limited information and it cannot be assumed
that all or any part of an “Inferred Mineral Resource” will be upgraded
to a higher classification resource, such as “Indicated” or “Measured”,
as a result of continued exploration. Accordingly, an estimate relating
to an “Inferred Mineral Resource” is insufficient to allow meaningful
application of technical and economic parameters or to enable an
evaluation of economic viability. Under Canadian securities
legislation, estimates of an “Inferred Mineral Resource” may not form
the basis of feasibility or other economic studies. Investors are
cautioned not to assume that all or any part of an “Inferred Mineral
Resource” is economically or legally mineable. Investors are also
cautioned not to assume that all or any part of “Indicated” will ever
be converted into “Mineral Reserves” (being the economically mineable
part of an “Indicated” or “Measured Mineral Resource”).

SOURCE Duluth Metals Limited


Source: PR Newswire



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