News
August 30, 2012
Northair Intersects 7.5 Metres of 179.3 g/t Silver at Sierra Rosario Project, Mexico
International Northair Mines Ltd. (TSXV: INM) (the "Company" or "Northair") announces the assay results from 6 core holes completed in the San Rafael Zone at its Sierra Rosario silver-gold project, located in Sinaloa State, Mexico.
During the month of June, six diamond drill holes, totaling 1,392.15 meters, were drilled in the northwestern section of a coincident induced polarization geophysical anomaly and silver/gold geochemical soil anomaly. The holes were designed to test only 30 percent of the anomalies as well as a small portion of the area which had returned encouraging silver and gold values from trench sampling.
The most significant drill results were obtained in Hole SR-003 where a 7.5 meter interval returned 179.3 g/t silver and 0.287 g/t gold and a 4.9 meter interval assayed 66.7 g/t silver and 0.614 g/t gold. In Hole SR-005, located approximately 400 metres to the southeast of Hole SR-003, a 3.35 meter interval returned 84.1 g/t silver, 0.102 g/t gold and 1.59% lead.
Drill Results:
Concurrent with the drill program, a follow up soil sampling program was completed which was designed to extend the existing soil sampling grid to the south and to the northeast. This open ended silver/gold soil anomaly, currently measures 1,400 metres in length and 1,300 metres wide. Three lines added to the southeast reported no significant results, but sampling to the northeast saw an expansion in this still open direction. The Company and its joint venture partner are presently evaluating the results of the recent program in anticipation of completing further follow-up work on the property.
Sampling and QA/QC
All technical information for the Sierra Rosario exploration program is obtained and reported under a formal quality assurance and quality control (QA/QC) program. Samples are taken under the direction of qualified geologists and stored in sealed bags. Samples are delivered by the Company via courier to ALS Minerals ("ALS") in Chihuahua. The samples are dried, crushed and pulverized with the pulps being sent airfreight for analysis by ALS to Vancouver B.C. Systematic assaying of standards and blanks are performed for precision and accuracy. Analysis for silver, zinc, lead and copper and related trace elements was done by ICP four acid digestion, with gold analysis by 30 gram fire assay with an AA finish.
About International Northair Mines
Northair is a mineral exploration company engaged in the acquisition and development of gold and silver properties in Mexico. The Company has staked and acquired a number of projects that offer opportunities for significant discoveries, which includes the Sierra Rosario Project. As well, Northair is currently compiling the results of a core drilling program recently completed at its La Cigarra silver project located in Chihuahua State. The drill program consisted of 118 core holes totaling over 20,000 metres. Utilizing this data the Company will complete an initial resource calculation which is anticipated to be released near the end of Q4 2012. A third Mexican property, the El Reventon silver project, is currently optioned to Focus Ventures Ltd, who has a minimum work commitment of USD$250,000 scheduled for completion by April 2013.
This news release has been prepared in accordance with Canadian regulatory requirements set out in National Instrument 43-101 and approved by Fred Hewett the Company's President and CEO, and a Qualified Person under NI 43-101.
ON BEHALF OF THE BOARD,
INTERNATIONAL NORTHAIR MINES LTD.
"Fred G. Hewett"
____________________________________
Fred G. Hewett, P.Eng.
President & CEO
For further information please contact Fred Hewett, President, Chris Curran, Manager of Corporate Communications or Brent Levenstadt, Investor Relations Associate
at 604-687-7545 or 1-888-338-2200
Website: www.northair.com/international/ Email: [email protected]
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news 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 Northair's filings for a more detailed discussion of factors that may impact expected results.
This news release does not constitute an offer to sell or solicitation of an offer to sell any securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
During the month of June, six diamond drill holes, totaling 1,392.15 meters, were drilled in the northwestern section of a coincident induced polarization geophysical anomaly and silver/gold geochemical soil anomaly. The holes were designed to test only 30 percent of the anomalies as well as a small portion of the area which had returned encouraging silver and gold values from trench sampling.
The most significant drill results were obtained in Hole SR-003 where a 7.5 meter interval returned 179.3 g/t silver and 0.287 g/t gold and a 4.9 meter interval assayed 66.7 g/t silver and 0.614 g/t gold. In Hole SR-005, located approximately 400 metres to the southeast of Hole SR-003, a 3.35 meter interval returned 84.1 g/t silver, 0.102 g/t gold and 1.59% lead.
Drill Results:
| Hole | Interval (meters) | Ag g/t |
Au g/t |
Pb % |
Zn % |
Cu % |
||
| from | to | length | ||||||
| SR-12-001 | 129.30 | 130.50 | 1.20 | 3.8 | 0.188 | 0.415 | 3.49 | 0.032 |
| SR-12-002 | 166.50 | 190.50 | 24.00 | 1.0 | 0.225 | 0.004 | 0.020 | 0.003 |
| 231.10 | 235.70 | 4.60 | 10.8 | 0.030 | 0.154 | 0.437 | 0.007 | |
| SR-12-003 | 36.00 | 40.90 | 4.90 | 66.7 | 0.614 | 0.012 | 0.042 | 0.153 |
| 66.00 | 73.50 | 7.50 | 179.3 | 0.287 | 0.082 | 0.033 | 0.110 | |
| SR-12-004 | 216.00 | 220.00 | 4.00 | 0.5 | 0.294 | 0.001 | 0.009 | 0.007 |
| SR-12-005 | 15.15 | 18.50 | 3.35 | 84.1 | 0.102 | 1.590 | 0.622 | 0.061 |
| 31.00 | 33.50 | 2.50 | 19.5 | 0.019 | 0.056 | 0.084 | 0.007 | |
| 136.50 | 139.50 | 3.00 | 32.1 | 0.130 | 0.020 | 0.040 | 0.264 | |
| SR-12-006 | No significant intervals | |||||||
Concurrent with the drill program, a follow up soil sampling program was completed which was designed to extend the existing soil sampling grid to the south and to the northeast. This open ended silver/gold soil anomaly, currently measures 1,400 metres in length and 1,300 metres wide. Three lines added to the southeast reported no significant results, but sampling to the northeast saw an expansion in this still open direction. The Company and its joint venture partner are presently evaluating the results of the recent program in anticipation of completing further follow-up work on the property.
Sampling and QA/QC
All technical information for the Sierra Rosario exploration program is obtained and reported under a formal quality assurance and quality control (QA/QC) program. Samples are taken under the direction of qualified geologists and stored in sealed bags. Samples are delivered by the Company via courier to ALS Minerals ("ALS") in Chihuahua. The samples are dried, crushed and pulverized with the pulps being sent airfreight for analysis by ALS to Vancouver B.C. Systematic assaying of standards and blanks are performed for precision and accuracy. Analysis for silver, zinc, lead and copper and related trace elements was done by ICP four acid digestion, with gold analysis by 30 gram fire assay with an AA finish.
About International Northair Mines
Northair is a mineral exploration company engaged in the acquisition and development of gold and silver properties in Mexico. The Company has staked and acquired a number of projects that offer opportunities for significant discoveries, which includes the Sierra Rosario Project. As well, Northair is currently compiling the results of a core drilling program recently completed at its La Cigarra silver project located in Chihuahua State. The drill program consisted of 118 core holes totaling over 20,000 metres. Utilizing this data the Company will complete an initial resource calculation which is anticipated to be released near the end of Q4 2012. A third Mexican property, the El Reventon silver project, is currently optioned to Focus Ventures Ltd, who has a minimum work commitment of USD$250,000 scheduled for completion by April 2013.
This news release has been prepared in accordance with Canadian regulatory requirements set out in National Instrument 43-101 and approved by Fred Hewett the Company's President and CEO, and a Qualified Person under NI 43-101.
ON BEHALF OF THE BOARD,
INTERNATIONAL NORTHAIR MINES LTD.
"Fred G. Hewett"
____________________________________
Fred G. Hewett, P.Eng.
President & CEO
at 604-687-7545 or 1-888-338-2200
Website: www.northair.com/international/ Email: [email protected]
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news 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 Northair's filings for a more detailed discussion of factors that may impact expected results.
This news release does not constitute an offer to sell or solicitation of an offer to sell any securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.