Northair Intersects 17.25 Metres of 155.2 g/t Silver at La Cigarra Project, Mexico
Drill Results Increase the Strike Length of San Gregorio and Las Carolinas Mineralized Zone to 2.3 KilometresVANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 05/22/12 -- International Northair Mines Ltd. (TSX VENTURE: INM) (the "Company" or "Northair") is pleased to announce assay results from seven core holes recently completed in the Las Carolinas Zone of its La Cigarra silver project, located in north central Mexico.
Highlights of the Continuing Drill Program
-- Recent core drilling on the San Gregorio and Las Carolinas zones has
increased the overall combined strike length of this mineralized system
to approximately 2.3 kilometres. These latest seven holes have provided
positive infill data and extended the total mineralized structure by 275
metres;
-- Hole CC-12-060 intercepted 69.65 metres of 22.5 g/t silver. This hole
was positioned 50 metres south of CC-12-059;
-- Hole CC-12-061 intercepted 57.90 metres of 38.1 g/t silver including
25.30 metres of 63.9 g/t silver. This hole tested the up dip projection
of CC-12-062;
-- Hole CC-12-062 intercepted 33.80 metres of 23.1 g/t silver. This hole
was drilled as an infill hole positioned between CC-11-017, which
returned intercepts of 5.10 metres of 98.7 g/t silver, 9.40 metres of
25.4 g/t silver and 7.30 metres of 28.7 g/t silver;
-- Hole CC-12-063 returned intercepts of 3.90 metres of 22.1 g/t silver and
63.05 metres of 50.3 g/t silver with 0.136 g/t gold including 17.25
metres of 155.2 g/t silver with 0.368 g/t gold. Hole CC-12-063 was
drilled between holes CC-12-062 to the north and CC-11-012 to the south;
-- Hole CC-12-064 intercepted 40.80 metres of 52.7 g/t silver, including
18.80 metres of 98.3 g/t silver. Hole CC-12-064 tested the down dip
extension of CRC-10-002 which returned 35.6 metres of 61.7 g/t silver
and 7.62 metres of 38.5 g/t silver;
-- Hole CC-12-065 returned 19.50 metres of 17.9 g/t silver, 4.60 metres of
28.9 g/t silver and 14.00 metres of 33.5 g/t silver. Hole CC-12-065 is a
step out hole positioned approximately 275 metres south of CRC-10-004;
previously the most southern hole drilled within the La Carolinas Zone;
-- Hole CC-12-066 intercepted 28.50 metres of 18.3 g/t silver. This hole
was positioned 100 metres southwest of CRC-10-004.
"The potentially surface minable mineralized system encompassing the San Gregorio and Las Carolinas zones continues to expand," said Fred Hewett, President & CEO of Northair. "Drilling has now delineated a robust mineral trend over a continuous strike length measuring 2.3 kilometres. Exploration upside of this mineralized system is excellent as both zones remain open along strike and down dip. In addition, the La Borracha Zone, located on strike 400 metres to the northwest of San Gregorio, provides the Company with opportunities for future expansion."
Northair is currently operating two core rigs at La Cigarra and will focus on step out and infill drilling along the mineralized trend with the intent of completing a NI 43-101 compliant mineral resource by the end of the third quarter. At this time, Northair has reported the results from 66 of 82 core drill holes completed to date. Results from all completed holes will be reported once assays have been received and interpreted.
Drill Results
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Drill
From To Intercept Silver Gold
Hole Dip (metres) (metres) (metres) g/t g/t
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CC-12-060 -49 75.75 145.40 69.65 22.5 0.038
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Includes 75.75 92.75 17.00 29.7 0.046
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Includes 120.50 132.60 12.10 45.7 0.057
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CC-12-061 -48 72.00 129.90 57.90 38.1 0.039
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Includes 72.00 97.30 25.30 63.9 0.048
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Includes 124.50 129.90 5.40 49.7 0.043
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CC-12-062 -66 148.20 182.00 33.80 23.1 0.055
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219.90 221.65 1.75 122.4 0.005
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CC-12-063 -64 114.10 118.00 3.90 22.1 0.026
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142.50 205.55 63.05 50.3 0.136
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Note 1 45.0
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Includes 161.90 179.15 17.25 155.2 0.368
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Note 1 135.9
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CC-12-064 -50 84.00 124.80 40.80 52.7 0.069
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Includes 106.00 124.80 18.80 98.3 0.086
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CC-12-065 -49 16.50 36.00 19.50 17.9 0.020
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102.00 106.65 4.65 28.9 0.039
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166.00 180.00 14.00 33.5 0.019
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CC-12-066 -50 53.90 82.40 28.50 18.3 0.047
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Note 1: Intervals with silver values greater than 500 g/t reported as 500
g/t.
Note 2: Reported widths may contain intervals with values less than 10g/t
silver.
Note 3: Intervals may also contain appreciable lead and zinc values.
Click the link below to view a plan of the Las Carolinas Zone:http://file.marketwire.com/release/inm0522drillplan.pdf
Sampling and QA/QC
All technical information for the La Cigarra 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 and Inspectorate America Corporation ("Inspectorate") in Durango City. In both cases the samples are dried, crushed and pulverized with the pulps being sent airfreight for analysis by ALS to Vancouver, B.C. and by Inspectorate to Vancouver, B.C. or Reno, Nevada. 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 the La Cigarra Silver Project
The La Cigarra Project is located in the state of Chihuahua along the eastern fringes of the Sierra Madre Occidental in Mexico. Local topography is gentle with good road access to the major city of Parral, located 26 kilometres to the south east. The La Cigarra Project hosts a silver-rich, epithermal vein system with three identified zones forming a three kilometre trend.
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, P.Eng., President & CEO
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.
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.
Contacts:
International Northair Mines Ltd.
Fred Hewett, President
604-687-7545 or 1-888-338-2200
604-689-5041 (FAX)
International Northair Mines Ltd.
Chris Curran, Manager of Corporate Communications
604-687-7545 or 1-888-338-2200
604-689-5041 (FAX)
International Northair Mines Ltd.
Brent Levenstadt, Investor Relations Associate
604-687-7545 or 1-888-338-2200
604-689-5041 (FAX)
info@northair.com
www.northair.com/international/