TORONTO, January 28 /PRNewswire-FirstCall/ -- Duluth Metals Limited ("Duluth") (TSX: DM) (TSX:DM.U) today announced its intention to plan and commence a 2010 exploration program on its high value grassroots properties which fall outside of the recently announced Joint Venture partnership with Antofagasta plc. The lands, situated in the Duluth Complex, Minnesota, fall into two categories: certain interests in State and private lands that DM currently controls under long term leases with the right to explore; and certain new interests in approximately 17,000 acres of Federal lands with pending prospecting permits.
"This large land package of high value grassroots exploration properties was acquired on the basis of the geological model for the Nokomis Deposit and Nickel Lake Macrodike", stated Dr. Henry J. Sandri, President and CEO of Duluth Metals. "We feel the potential for these properties to host similar mineralization to Nokomis is very high and as such we intend to implement a comprehensive exploration and drill program to test these significant properties. Based on the geology of the area, we will also be exploring for "Voisey's Bay" and "Bushveld" type targets."
A map showing the location of Duluth Metals Limited exploration properties can be found on the Company website at www.duluthmetals.com under this press release.
To date, most of Duluth Metals activities have focused on the discovery and advancement of the Nokomis Deposit. Duluth Metals has conducted limited sampling and geologic mapping, has undertaken limited geochemical and geophysical analysis, and has reviewed historical gravity and magnetic surveys on some of these properties. Historical drilling activity on these lands is extremely limited. The primary focus will be the exploration for copper-nickel-PGM mineralization, similar to other known deposits in the Duluth Complex, like Nokomis, Maturi, Birch Lake and the deep portions of Mesaba. Each of the exploration land blocks is described below:
Nor'East: Nor'East is situated at the junction of the Nickel Lake Macrodike and the South Kawishiwi Intrusion (Delta target in Section 31 - the South Kawishiwi trough target) and represents a prime target area for Duluth Metals. Geological modeling indicates that the property has the potential to host a "Voisey's Bay" type massive sulfide target.
Dr. Dean Peterson, Senior V.P. Exploration of Duluth Metals has co- authored a paper(1) on the geological interpretation of the Nickel Lake Macrodike entitled "Geology of the Nickel Lake Macrodike and its Association with Cu-Ni-PGE Mineralization in the Northern South Kawishiwi Intrusion, Duluth Complex, Northeastern Minnesota" which can be viewed on the Duluth Metals website at http://www.duluthmetals.com.
East Shore: The East Shore property has the potential for hosting significant disseminated copper-nickel-PGM group mineralization (similar geologic setting to the Nokomis Deposit) where the poorly mapped and unexplored eastern boundary of the South Kawishiwi Intrusion comes to the surface.
The Reefs: The Reefs host the steeply-dipping, northern funnel-shaped portion of the Bald Eagle Intrusion in a poorly mapped and un-prospected area of the Duluth Complex. The Reefs may be associated with Cr + Pt mineralization and has the potential to host a "Bushveld" type platinum reef target.
Land O' Dixie: The primary target on the Land O' Dixie is the shallowly-dipping, central portion of the Bald Eagle Intrusion which represents an unexplored area of the Duluth Complex that may host copper- nickel-PGM group mineralization at its base. In addition, the Land O' Dixie property may also host Cr + Pt mineralization and has the potential to host a "Bushveld" type platinum-palladium reef target.
Rook: Rook is situated directly southeast of Teck's Mesaba Deposit, and may host copper-nickel-PGM group mineralization at depth. Rook may contain a portion of the feeder system for the Bathtub Intrusion, which hosts most of the Mesaba Deposit, and thus has potential for high grade mineralization. Historical drilling intersected Mesaba style mineralization over 2,500 feet (non-continuous sampling), including 10 feet grading 0.970% Cu, 0.062% Ni and 0.610 grams per tonne of TPM (TPM (equal sign) platinum + palladium + gold).
Cascade: Cascade is located at the junction of the South Kawishiwi Intrusion and Greenwood Lake Intrusion and has the potential to host copper- nickel-PGM group mineralization at the base of the Greenwood Lake Intrusion.
Hoyt: The Hoyt property is in the Partridge River Intrusion and lies along the southern portion of the Siphon Fault. The property has the potential to host copper-nickel-PGM group mineralization as the Siphon structure may have been a feeder system for Partridge River Intrusion magmas.
Lands End: Lands End is in close proximity to the Waterhen copper- nickel-PGM and TiO2 prospect and may have the potential to host similar mineralization.
David Oliver, P. Geo. is the Qualified Person and Project Manager for Duluth, in accordance with NI 43-101 of the Canadian Securities Administrators, and is responsible for the technical content of this press release and quality assurance of the exploration data and analytical results.
About Duluth Metals
Duluth is committed to acquiring, exploring and developing copper, nickel and platinum group metal (PGM) deposits. Duluth's principal property is the Nokomis Property located within the rapidly emerging Duluth Complex mining camp in northeastern 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 statements" within the meaning of the US Private Securities Litigation Reform Act of 1995) relating to Duluth's operations or to the environment in which it operates. Such statements are based on operations, estimates, forecasts and projections. They are not guarantees of future performance and involve risks and uncertainties that are difficult to predict and may be beyond Duluth's control. 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 other public filings. In addition, such statements relate to the date on which they are made. Consequently, undue reliance should not be placed on such forward-looking statements. 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.
(1) Peterson, D.M. and Albers, P.B., 2007, Geology of the Nickel Lake Macrodike and its association with Cu-Ni-PGE mineralization in the northern South Kawishiwi Intrusion, Duluth Complex, northeastern Minnesota: Institute on Lake Superior Geology, 53rd Annual Meeting, Field Trip No.4, Field Trip Guidebook, Lutsen, Minnesota, Volume 53, pages 61-88.
For further information: Mara Strazdins, Director of Corporate Communications, at email@example.com or at +1(416)369-1500 or Henry Sandri, President and CEO, at firstname.lastname@example.org; The telephone number for the Minnesota corporate office is +1(651)389-9990; Web Page: http://www.duluthmetals.com
SOURCE Duluth Metals Limited