Quantcast

Duluth Metals Commences Drilling Program on Platinum Targets on the Land O’Dixie Property

August 2, 2011

TORONTO, Aug. 2, 2011 /PRNewswire/ – Duluth Metals Limited (“Duluth Metals” and
“Company”) (TSX: DM) (TSX: DM.U) is pleased to announce that a diamond
drill program has commenced on the Land O’Dixie Property, one of the
Company’s grassroots exploration properties within the Duluth Complex
in Minnesota, U.S.A. The Company has planned a drilling program to test
a large layered mafic intrusion identified on the property with
potential for Platinum-rich Reef style targets. The Company has
budgeted $8 Million for exploration on its 100% owned exploration
interests in Northern Minnesota. Duluth Metals currently has 37,000
acres of 100% owned mineral/land interests in close proximity to
Minnesota’s emerging copper-nickel-platinum group mining camp within
the Duluth Complex.

“Our geologic expertise is based around our experience in the Duluth
Complex. That expertise has already led to significant exploration
success for Duluth Metals,” stated Vern Baker, President of Duluth
Metals. “It makes sense for the Company to leverage that expertise by
continuing with an aggressive exploration program on what we believe
are some of the most prospective mafic rocks in the world.”

The exploration program is fully financed by the Company which had $36.5
million in the treasury as of June 6, 2011. Duluth Metals is utilizing
information gained from a 7,053 line-kilometer airborne VTEM-Magnetic
survey over a 649 square kilometer area within the Duluth Complex to
help define potential drilling targets.  In addition, a regional
glacial till geochemistry and mineralogy program, along with geological
mapping coordinated with the geophysics and geochemistry is underway to
detect and delineate unexposed mineralization.

“We have assembled an outstanding geologic team of professionals whose
goal is to discover additional ore deposits in new areas of the Duluth
Complex,” stated Dr. Dean Peterson, senior V.P. Exploration of Duluth
Metals, and a pre-eminent authority on Duluth Complex mineralization. 
“The dedicated staff has been working extremely hard towards the goal
and we all are excited to commence drilling on several stratiform
Platinum-rich Reef style targets within the most mafic intrusion of the
Duluth Complex.”

The Duluth Complex and associated intrusions of the Midcontinent Rift
System in northeastern Minnesota constitute one of the largest,
semi-continuous, mafic intrusive complexes in the world, second only to
the Bushveld Complex of South Africa. These rocks cover an arcuate area
of over 5,000 square kilometers and give rise to two strong gravity
anomalies (+50 & +70 mgal) that imply intrusive roots to more than 13
km depth. The geometry of three large mafic intrusions within the
Duluth Complex has been modeled by the integration of field mapping and
drill hole data with maps of gravity and magnetic anomalies. These
igneous bodies include the South Kawishiwi, Partridge River, and Bald
Eagle intrusions that collectively outcrop on the western edge of an
area of greater than 800 square kilometers. The South Kawishiwi
intrusion (in the north) and Partridge River intrusion (in the south)
host several billion tons (each) of low-to-medium grade Cu-Ni-PGE
mineralization near their base, with the South Kawishiwi hosting the
highest grade deposits in the Duluth Complex.

On July 28, 2011, Duluth Metals Limited announced that it proposes to
distribute to its shareholders of record as of August 23, 2011 a
special warrant dividend convertible to common shares of Duluth
Exploration Limited (“DEL”).  DEL through its subsidiary Duluth
Exploration (USA) Inc. will enter into an earn-in agreement on the
37,000 acres of mineral interests held by the Company’s wholly-owned
U.S. subsidiary including the mineral interests of the Land of Dixie,
the subject of this press release.

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.

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 been active 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.

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



comments powered by Disqus