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Duluth Metals Announces $8 Million Drilling and Work Program for Exploration Properties

May 5, 2011
        --  31,000 acres of 100% owned exploration properties in close
            proximity to the Twin Metals Project
        --  7,053 line kilometre airborne VTEM-Magnetic survey completed
            and definition of high priority targets for follow-up
        --  Expanding team from 4 to 12 for a summer geochemistry and
            mapping program
        --  Initiating drilling in June, and planning additional drilling
            as year progresses

TORONTO, May 5 /PRNewswire/ - Duluth Metals Limited (“Duluth Metals” and “Company”) (TSX: DM) (TSX:
DM.U) is pleased to announce an aggressive spring/summer exploration
and drilling program on the Company’s 100% owned exploration
properties. The Duluth Metals’ land position in the Duluth Complex
provides an exciting opportunity for future growth outside of the joint
venture, while the Twin Metals Project is being advanced by Twin Metals
Minnesota LLC. The exploration program is fully financed by the Company
which had $38 million in the treasury as of March 28, 2011.

The spring/summer program on the exploration properties includes:

        --  Follow-up and evaluation of a 7,053 line kilometre airborne
            VTEM-Magnetic survey over a 649 square kilometre area within
            the Duluth Complex which identified high priority targets for
            follow-up
        --  Evaluation of 2D and 3D models of magnetic susceptibility,
            gravity anomalies, and conductivity over the region
        --  Interpretation of the VTEM-Magnetic survey has been completed
            by Condor Consulting Inc., a world leader in airborne
            geophysical analysis
        --  A budgeted $6 Million (10,000 meter) drilling program, with
            drilling on the first target area commencing in June
        --  A regional glacial till geochemistry and mineralogy program to
            detect and delineate unexposed mineralization
        --  Additional geological mapping coordinated with geophysics and
            geochemistry
        --  Expansion of the exploration team to 12 people in order to
            conduct a comprehensive summer field program.

Duluth Metals holds 31,000 acres of high value, grassroots exploration
interests in the Duluth Complex.  These properties were acquired on the basis of Duluth Metals’ expertise
on the mineral potential of mafic intrusions in general and the Duluth
Complex in particular. This expertise led to the discovery of the
world-class Nokomis Deposit, which based on the qualified resource((1)()) contains over 7.75 billion pounds of Indicated copper and 3.82 billion
pounds of Inferred copper; 2.43 billion pounds of Indicated nickel and
1.25 billion pounds of Inferred nickel; and, 11.67 million ounces of
Indicated precious metals (platinum+palladium+gold) and 6.03 million
ounces of Inferred precious metals. The Company’s strategy is to
explore close to our known deposits and leverage our exploration team’s
knowledge of the Duluth Complex mineralizing system in new and
innovative ways.

The primary focus is exploration for high-value mafic intrusion-hosted
copper-nickel-platinum group metals deposits, including magma
conduit-hosted nickel-rich massive sulphides, stratiform
platinum-palladium reef style mineralization, as well as Nokomis-style
copper-nickel-platinum group metals-rich disseminated sulphides. A
budget of $8 Million is allotted for the full 2011 exploration
program.   While drilling will commence on selected state and private
lands in early June, the Company still awaits the issuance of several
pending Federal Prospecting Permits.

Phillip Larson, P. Geo. is the Qualified Person for Duluth and Senior
Geologist for Duluth, in accordance with NI 43-101 of the Canadian
Securities Administrators, and is responsible for Duluth’s technical
content of this press release and quality assurance of the exploration
data and analytical results.

((1))The current NI 43-101 compliant Resource Estimate dated December 2009
for the Nokomis Deposit consists of 550 million tonnes of Indicated
Resources grading 0.639% copper, 0.200% nickel, 0.660 grams per tonne
TPM (TPM = Pt + Pd + Au) for a copper equivalent (CuEq) grade of 1.51%,
plus an additional 274 million tonnes of Inferred Resources grading
0.632% copper, 0.207% nickel, 0.685 grams per tonne TPM for a CuEq
grade of 1.53% (see December 10, 2009, Technical Report On The Mineral
Resource Estimate For The Nokomis Deposit On The Nokomis Property,
Minnesota, U.S.A. on www.sedar.com.)

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 31,000 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 new joint venture company, which is 60%
owned by Duluth Metals and 40% by Antofagasta plc. The joint venture’s
principal asset is called the Twin Metals Project, located within the
Duluth Complex mining camp in north-eastern Minnesota.

This document may contain 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 operations of Duluth, the
environment in which it operates, timing and amount of capital
expenditures, results of exploration and mine development, the
availability of funding to Duluth and timing of geological reports.
Such statements are based on operations, estimates, forecasts and
projections. They are not guarantees of future performance and involve
known and unknown risks, uncertainties and other factors that are
difficult to predict and may be beyond the control of Duluth. A number
of important factors could cause actual outcomes and results to differ
materially from those expressed in forward-looking statements,
including those set forth in the annual information form under the
heading “Risk Factors” and in the other public filings of Duluth.
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 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.

SOURCE Duluth Metals Limited


Source: newswire



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