|Three Zones Extended by Geophysics and Soil Sampling
Additional Claims Staked - Drilling Planned
International Northair Mines Ltd. (TSXV: INM, the ï¿½Companyï¿½) is pleased to announce that Sparton Resources Inc. (TSXV: SRI) has reported to the Company results from the sampling, geological mapping and geophysical survey program recently completed by Sparton Resources at the Sierra Rosario Project in Sinaloa State, Mexico (for background data see news release dated April 26, 2005).
High grade goldï¿½silver mineralization had been previously outlined in three separate zones in the northern, central, and southern parts of the 500ha claim area. The work recently completed involved electrical and magnetic geophysical surveys to systematically cover these areas as well as detailed soil sampling along the zones to extend them through overburden covered areas. The 6 week program involved the collection of a further 565 soil and stream sediment samples, 60 rock and chip samples and approximately 20 line kms of geophysical surveys.
The geophysical data and new analytical results confirm the presence of high grade gold, base metal and silver mineralization in the three key areas of the property. The magnetic and electrical surveys have established distinct geophysical signatures for the mineralization in each area: San Rafael (northern), Las Tahunas (central), and La Josca (southern). Each of these areas is the site of historical production from small underground and open cut excavations and no records exist of any drilling.
San Rafael Zone
This is the principal target area on the property and the geophysical work, in particular the magnetic survey, delineated a well defined magnetic anomaly associated with the San Rafael rhyolite porphyry body and also located a similar anomaly which is covered by upper volcanic series tuffs and may represent a new buried intrusion. Both skarn and structurally controlled mineralization containing barite, copper, gold, and silver are present in the area and values of up to 7.28% Cu and 13 g/t gold were obtained from samples taken from boulders in a gully below an old mine dump. Strong base/precious metal mineralization is located in a shear fracture zone east of the main rhyolite intrusive as well as in fault zones associated with rhyolite dykes in limestone on the east side of the property where there is a large multi element soil anomaly. Drilling will be needed to evaluate these various mineralized zones.
La Josca Zone
Work at La Josca succeeded in extending this mineralized zone to over 1.1 km in strike length. The zone is characterized by a wide pyritic gossan zone with strong silicification and quartz veining and widths from 8 to 30 meters. A moderate VLF anomaly is associated with the central 400 meter long section of the zone and is coincident with a strong gold in soil geochemical anomaly (values over 400 ppb). The mineralization contains up to 1.8 % copper in grab samples, and gold values from the current program taken from grab samples of boulders along the mineralized trend range from 1.0 g/t up to 16.4 g/t gold. This area will be the subject of mechanical trenching and subsequent core drilling. The area is accessible with minor repairs to an existing road.
Las Tahunas Zone
The soil sampling and geophysical surveys over this area disclosed a distinct electrical (VLF) anomaly approximately 200m long. It is located along strike with mineralization found in a trench near high grade (up to 33g/t gold) mineralization from boulders associated with the old mine workings. Trenching is planned to excavate this area to better expose and further define the mineralization.
Decision to Increase Land Position
In view of these positive results the decision was taken by the Joint Venture to increase the size of the Northair-Sparton claim holdings in the area. On October 31st, 2005 Northair filed an application for an additional 590 hectare concession contiguous to the current claim holdings thus increasing the total project area size to 1090 hectares. The new claim area will cover the extensions of the San Rafael Zone indicated by the geophysical surveys which now appear to be substantially larger than initially estimated. The new holdings may host both skarn type carbonate replacement deposits as well as the extensions of the known vein-structure hosted mineralization.
Both Northair and Sparton are extremely pleased with the results from this work program and drilling is planned for early in the new year. Sparton is earning a 51% interest in the property by paying Northair $130,000 (Cdn.) in cash, issuing 275,000 common shares and incurring $800,000 (Cdn.) in exploration expenditures over a four year period.
Spartonï¿½s exploration program in Mexico is being carried out under the direct supervision of A. Lee Barker, P. Eng., P Geol., the Companyï¿½s President and CEO who is a Qualified Person under National Instrument 43-101. Analyses were done by ALS Chemexï¿½s Laboratories in Hermosillo, Mexico using Induced Coupled Plasma (ICP) techniques for a 34 element group, and Atomic Absorption (AA) methods for gold and silver. AA / Gravimetric Finish method was used for higher grade samples.
Elsewhere in Mexico, due to high option payments, Northair has returned the optioned concession that covers the main gold zone at the Las Moras Project. Northair maintains an adjacent wholly owned claim which covers a base metal occurrence. As well, Northair continues with its aggressive generative exploration program focusing in the Sierra Madre Occidental. We will keep shareholders informed as we look forward to positive results from our diverse Mexican property portfolio.
ON BEHALF OF THE BOARD,
|INTERNATIONAL NORTHAIR MINES LTD.
ï¿½Fred G. Hewettï¿½
Fred G. Hewett, P.Eng.
FOR MORE INFORMATION CONTACT THE COMPANY AT 1-604-687-7545 or Toll Free at 1-888-338-2200
Website: www.internationalnorthair.com Email: [email protected] The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this press release. This news release may contain forward looking statements which are not historical facts, such as ore reserve estimates, anticipated production or results, sales, revenues, costs, or discussions of goals and exploration results, and involves a number of risks and uncertainties that could cause actual results to differ materially from those projected. These risks and uncertainties include, but are not limited to, metal price volatility, volatility of metals production, project development, ore reserve estimates, future anticipated reserves and cost engineering estimate risks, geological factors and exploration results. See the Companyï¿½s AIF Report and filings for a more detailed discussion of factors that may impact expected results.