International Northair Mines Ltd. (TSXV: INM) (the “Company”) is pleased to announce the discovery of high-grade mineralization within the Company’s wholly owned Sierra Rosario Project, which is currently under option to Sparton Resources Inc. (TSX: SRI.V) (“Sparton”). The Sierra Rosario project lies along the western flanks of the Sierra Madre Occidental geological province in the state of Sinaloa, Mexico and has been the subject of an ongoing exploration program for the past three years by Northair and Sparton.
Previous exploration by Northair and Spartan has outlined six mineralized zones. The new zone of mineralization, referred to as “Dulces Nombres”, was discovered by ongoing exploration programs that resumed in the fall of 2007 and were coordinated by Company staff. A total of 35 chip samples that average 0.71 g/t gold, 263 g/t silver, and 0.35% copper have been taken to date from the zone. These samples were continuous chip samples, ranging from 1.0 to 3.0 metres in length. The zone, where mapped, is up to 8 metres in thickness.
Dulces Nombres exhibits a style of mineralization previously unrecognized on the property. Mineralization occurs as low-angle epithermal breccia zones in andesite volcanics at the contact with overlying silicified limestone. The mineralization may be related to a high angle northeast striking structure, where eight chip samples were taken averaging 1.86 g/t gold, and 114 g/t silver. Caved workings and historical prospect pits, exhibiting similar mineralization, have been discovered over an area of approximately 500 x 500 metres and another area of old workings was located 450 metres northeast of the Dulces Nombres zone. This area will be further investigated in the ongoing work program. Northair and Sparton technical staff believe this new discovery is very significant, and that this new style of mineralization related to a regional contact zone could be extensive.
Dulces Nombres lies approximately 1,200 metres southeast of a previously defined zone named the San Rafael zone of mineralization. San Rafael is geologically distinct, with base and precious metal mineralization at surface occurring in and adjacent to a rhyolite porphyry intrusion over an area approximately 200 metres long and 70 metres in width. Twenty-three chip channel samples taken from this zone by Northair in 2002 averaged 181 g/t silver and 0.32 g/t gold with eight grab samples averaging 200 g/t silver and 1.79 g/t gold (with a high value of 711 g/t silver and 10.79 g/t gold).
Sparton is earning a 51% interest in the property from Northair, and the two companies plan to aggressively explore the project area during 2008 with anticipated programs that include mechanical trenching and drilling.
The current phase of the program is being supervised by Mr. Jim Robinson, Vice President of the Company, who is a Qualified Person as defined by National Instrument 43-101. Northair maintains a quality control program using best industry practices consistent with NI 43-101. Samples were submitted to ALS Chemex Labs in Hermosillo, Mexico, with gold assayed by a 50-gram digestion with fire assay - AA finish. Silver and other elements were assayed by aqua regia acid digestion with ICP finish. Silver samples reporting over 100 ppm were re-assayed by AA finish.
ON BEHALF OF THE BOARD,
INTERNATIONAL NORTHAIR MINES LTD.
“Fred G. Hewett”
Fred G. Hewett, P.Eng.
President & CEO
FOR MORE INFORMATION CONTACT THE COMPANY AT 1-604-687-7545 or Toll Free 1-888-338-2200
Website: www.northair.com/international/ 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 AIF Report and filings for a more detailed discussion of factors that may impact expected results.