BURLINGTON, ON / ACCESSWIRE / February 14, 2022 / Murchison Minerals Ltd. ("Murchison" or the "Company") (TSXV:MUR) (OTCQB:MURMF) is pleased to announce its common shares will commence trading on the OTCQB as of market open today, under the symbol "MURMF". Additionally, the Company is in the final stages of having DTC Eligibility - this process is expected to be completed in the coming weeks. The Company's common shares will continue to also be traded on the TSX Venture Exchange (TSXV) under the symbol "MUR".
The OTCQB Venture Market ("OTCQB") by the OTC Markets Group Inc. ("OTC Markets") is a premier and established marketplace for entrepreneurial and development-stage companies. The OTCQB is recognized by the United States Securities and Exchange Commission as an established public market providing public information for analysis and value of securities. The OTCQB offers companies the opportunity to build their visibility, expand their liquidity and diversify their shareholder base on an established public market. Investors can find current financial disclosure and Real-Time Level 2 quotes for the Company on https://www.otcmarkets.com/stock/MURMF/overview.
President and CEO, Troy Boisjoli, comments:
"Today is a major milestone for the Company, with Murchison Minerals joining the OTCQB, this will provide an enhanced market for US residents to trade Murchison's common shares. The OTCQB provides increased transparency, reporting standards, management certification and compliance requirements that align with Murchison's values. We recognize the demand in the US for greater exposure to grassroots exploration projects focused on the battery and energy metals space. Our intention with the Company joining the OTCQB is to drive greater liquidity and awareness about Murchison."
About the HPM Project
The HPM Project is located east of the Manicouagan structure, the site of a major 215 Ma impact event. The extensive reservoir at Manicouagan supports five hydro-power plants. The existing Quebec Cartier rail line, located eight kilometres west of the PYC project area, links Labrador City to Port Cartier and Sept Iles, two major iron ore port facilities.
Figure 1: HPM Location Map
The HPM Project is located within the Haut-Plateau de la Manicouagan area. The claims host prospective gabbroic, ultramafic and anorthositic bodies within the Manicouagan metamorphic complex and are associated with significant nickel-copper-cobalt sulphide mineralization first identified by Falconbridge in 1999, and discovered extensive nickel-bearing sulphide mineralization at Barre de Fer during drilling in 2001 - 2002. Murchison Minerals Ltd.'s predecessor - Manicouagan Minerals - drilled in the area in 2008 and 2009. Most of the past drilling at the HPM Project targeted the Barre de Fer geophysical conductor and confirmed the presence of nickel-copper-cobalt sulphide mineralization over approximately 300-metres strike length to a depth of 280 metres. The mineralization remains open at depth and partially along strike.
After Murchison Minerals Ltd. acquired 100% ownership of the property in 2019, the Company focused exploration work on the camp-scale potential of the region. Aerial EM surveys completed in the spring of 2021 identified more than 50 anomalous conductors. Prospecting crews were able to traverse five (5) of the more than 50 anomalies, and discovered new outcrops of nickel-bearing sulphide mineralization in the process. The prospecting program was followed by an inaugural drill program at the PYC Target area - an EM anomaly with a 1.95-km strike length. Assay results are expected in Q1 2022. Subsequent to the completion of the drill program at PYC, the Company increased its dominant land position in the Haut-Plateau region from 139 km2 to 576 km2.
The foregoing scientific and technical disclosures on the HPM Project have been reviewed by John Shmyr, P.Geo., VP Exploration, a registered member of the Professional Engineers and Geoscientists of Saskatchewan and current holder of a special authorization with the Ordre des Géologues du Québec. Mr. Shmyr is a Qualified Person as defined by National Instrument 43-101.
About Murchison Minerals Ltd. (TSXV: MUR or OTCQB: MURMF)
Murchison is a Canadian‐based exploration company focused on nickel-copper-cobalt exploration at the 100%-owned HPM Project in Quebec and the exploration and development of the 100%-owned Brabant Lake zinc‐copper‐silver project in north‐central Saskatchewan. The Company also holds an option to earn 100% interest in the Barraute VMS exploration project also located in Quebec, north of Val d'Or. Murchison currently has 160.1 million shares issued and outstanding.
Additional information about Murchison and its exploration projects can be found on the Company's website at www.murchisonminerals.com. For further information, please contact:
Troy Boisjoli, President and CEO or
Erik H Martin, CFO
Tel: (416) 350‐3776
CHF Capital Markets
Thomas Do, IR Manager
Tel: (416) 868-1079 x 232
Certain information set forth in this news release may contain forward‐looking information that involves substantial known and unknown risks and uncertainties. This forward‐looking information is subject to numerous risks and uncertainties, certain of which are beyond the control of the Company, including, but not limited to, the impact of general economic conditions, industry conditions, and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward‐looking information. The parties undertake no obligation to update forward‐looking information except as otherwise may be required by applicable securities law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Murchison Minerals Ltd.