Inspiration Continues to Expand Langmuir Open Pit Nickel Deposit
TORONTO, ONTARIO -- (Marketwire) -- 11/02/10 -- Inspiration Mining Corporation ('Inspiration' or the 'Corporation') (TSX: ISM)(FRANKFURT: OI8) is pleased to announce results of recent infill and detail drilling conducted at the Langmuir One Nickel Deposit. The Langmuir Open Pit Deposit comprises 69 mining claims covering 1121 hectares in the Langmuir Township, 25 km southeast of Timmins, Ontario.
The 2010 exploration program currently in progress aims at three different NI sulphide-bearing zones in the extension of the Langmuir 1 deposit in a much similar and favourable geological and sulfide mineralization context.
Within the first zone, exemplified by intersections in Table 1, the Corporation drilled infill exploration holes located immediately to the northeast in the extension of the Langmuir 1 planned open pit mine with the following intersections:
Table 1
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DDH L1-10-01 43.4 m @ .22% Ni including 19 m @ .26
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DDH L1-10-02 54 m @ .23 including 6 m @ .3 and 9 m @ .29
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44.95 m @ .26 including 12 m @ .4
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77.5 m @ .25 including 8 m @ .31 and 22.5 m @ .27
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The drill results for the L1-10-01 and the L1-10-02 will be included in the present extension database and used to produce a new upgraded NI resource calculation for the Langmuir 1 deposit. As set out in a National Instrument 43-101 compliant resource estimate report, prepared by Micon International Limited, the deposit is currently measured at 1.733 Mt @ 0.51% Ni.
Within the second zone, L1-10-05 and L1-10-06 are part of a nearby but distinct zone located stratigraphically immediately above the Langmuir 1 deposit zone for which a parallel exploration program is being carried out and for which new Ni resources will be produced.
Table 2
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DDH L1-10-05 67.1 m @ .24 including 8 m @ .28
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48.55 m @ .24 includingsd 5 m @ .4
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DDH L1-10-06 28.75 m @ .22 including 5 m @ .32 and 4 m @ .28
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Within zone 3 similar to the present exploration program, holes will be drilled in a nearby Ni sulfide bearing zone located stratigraphically below the Langmuir 1 deposit and for which resource calculations will also be carried out.
Chief Executive Officer, Mr. Randy Miller states: 'We continue to be encouraged by the significant progress being in the field in identifying meaningful additional tonnage of nickel mineralization at our Langmuir property and look forward to providing an updated 43-101 by Q1 2011.'
The Qualified person in charge of the Langmuir Property and the person who prepared the technical data in this release is Andre Ciesielski P.Geo.
Forward Looking Statements
This news release contains 'forward-looking statements' within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as 'plans', 'anticipated', 'expects' or 'does not expect', 'is expected', 'budget', 'scheduled', 'estimates', 'forecasts', 'intends', 'anticipates' or 'does not anticipate', or 'believes', or variations of such words and phrases or state that certain actions, events or results 'may', 'could', 'would', 'might' or 'will be taken', 'occur' or 'be achieved'. Inspiration is subject to significant risks and uncertainties which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward looking statements contained in this release. Inspiration cannot assure investors that actual results will be consistent with these forward looking statements and Inspiration assumes no obligation to update or revise the forward looking statements contained in this release to reflect actual events or new circumstances.
The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Contacts:
Inspiration Mining Corporation
Randy Miller
C.E.O.
416-842-9000
www.inspirationmining.com
Investor Relations:
Gale Capital Corporation
604-221-7604
604-221-7606 (FAX)
galecapital@shaw.ca