|Exploration Update - New Projects
International Northair Mines Ltd. (TSXV:INM) is pleased to provide an update on the Company’s exploration activities in Mexico. Northair currently holds a 100% interest in four projects in Mexico through its wholly owned subsidiary; Grupo Mexico de Northair, S.A. de C.V. These projects were acquired over the past several years by staking as a result of the Company’s successful generative exploration program. Two of these properties are currently under option to other companies, with the Sierra Rosario Project in Sinaloa currently scheduled for drilling by Sparton Resources Inc.
The ongoing generative exploration program has recently identified an attractive exploration target that has been acquired by the Company through staking. The concession covers several zones of geologically distinct gold, silver and base metal mineralization controlled by a regional West-Northwest complex fault system within the Superior volcanic series. The eastern portion of the concession contains epithermal gold and silver mineralization within tectonic breccia formed by the regional fault. Mineralization typical of a high level epithermal precious metal system is composed of quartz veinlets, stockworking and micro breccias over widths of 10 to 25 metres, and has been traced along strike for several hundred meters. First phase reconnaissance chip sampling from this zone reported values of 0.6 to 0.9 g/tonne gold, and 18 to 20 g/tonne silver. Considering the very high level of mineralization exposed at surface, these values are considered very positive and could reflect a significant occurrence. Additional zones of mineralization, including widespread epithermal silicification in a volcano-conglomerate, along with a number of silver and base metal vein systems are apparent. Assays from sampling of these zones are pending and the company is evaluating further land acquisition.
Four additional properties have been identified by the generative program and are being considered for acquisition. Two of the projects lie within the Sierra Madre Occidental geological province, where Northair has focused exploration activities during recent years. One of the properties has the potential to contain a large bulk tonnage silver, zinc, and lead deposit, with initial Northair sampling returning average values of 161 g/tonne silver, 1.43% zinc and 0.81% lead over a 50 metre exposed breccia surrounded by colluvium. The Company has commenced negotiations with the owner of a small concession and is preparing to stake additional concessions.
This exploration was supervised by Mr. Jim Robinson, Vice President of the Company, who is a Qualified Person as defined by NI 43-101. Further details of the company’s plans will be provided once all necessary land acquisition is complete.
During the past years, Grupo Northair has acquired a number of Mexican projects which have been optioned to other companies including TeckCominco Ltd., Meridian Gold Company, Battle Mountain Gold Ltd., Minera San Valentin and Leadville Mining Corporation with subsequent drilling. The Company is very pleased with the continuing success of its ongoing generative exploration program and looks forward to further positive results.
ON BEHALF OF THE BOARD,
INTERNATIONAL NORTHAIR MINES LTD.
Per: “Fred G. Hewett”
Fred G. Hewett, P.Eng.
President & C.E.O.
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 company’s Sedar filings for a more detailed discussion of factors that may impact expected results.