TORONTO, Nov. 9, 2012 /PRNewswire/ - Duluth Metals Limited ("Duluth Metals") (TSX: DM) (TSX: DM.U) is pleased to announce assay results for 30 additional holes, MEX-379 to 408, on the Maturi Deposit within the Twin Metals Minnesota Project in northeastern Minnesota. The majority of the holes have significant length intercepts that meet a 0.5% Cu cut-off criteria. These holes, distributed across the Maturi Resource, continue to indicate the ability to define a higher grade sub-set of the resource for early utilization. These additional holes will be incorporated into the final resource estimate to be issued by AMEC later this month (November 2012).
"These additional 30 holes will be factored into the final pre-feasibility AMEC resource study which we are expecting by the end of this month", stated Vern Baker, President of Duluth Metals. "The final pre-feasibility AMEC resource estimate will allow mine planning to focus on early utilization of the most economic mineralization. This resource estimate is expected to upgrade a significant portion of the resource from the Inferred to the Indicated category."
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.
SOURCE Duluth Metals Limited