Northair Silver Airborne Geophysical Survey Identifies New Drill Targets at the La Cigarra Silver Project, Mexico
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jun 10, 2015) - Northair Silver Corp. (TSX VENTURE:INM) (the "Company" or "Northair") is pleased to announce the results of its recently completed airborne geophysical program (the "Program") on the Company's La Cigarra silver project located in Chihuahua State, Mexico.
"The magnetic / radiometric program has greatly assisted Northair's technical team in identifying new targets and defining the structural framework of the La Cigarra district; a critical element in the understanding of the overall mineral system," commented, Andrea Zaradic, President & CEO of Northair. "Results from this Program have also provided important information for refining future drill programs that include targeting newly identified structural intersections that hold promise of hosting new mineral zones. These defined targets not only bolster the exploration model, but demonstrate the likely structural connection of La Cigarra to the San Francisco del Oro (Minera Frisco) and Santa Barbara (Grupo Mexico) operating mines, located approximately 20km south of La Cigarra."
Results of the helicopter-borne magnetic/radiometric survey achieved the following objectives:
- Identified important structures and structural intersections within the area of the La Cigarra silver resource; providing potential for higher grade structural intersection targets for resource expansion;
- Detected several circular magnetic highs interpreted to be related to intrusives emplaced into favorable host sediments;
- Discovered multiple new targets including a 3.8 kilometer north-northwest trending linear mag low through the Ram Zone interpreted to be alteration potentially associated with vein mineralization;
- Identified potential skarn development above a proposed intrusive stock along a north-south trending fault structure;
- Mapped potentially important fault structures below alluvial cover that line up with the San Francisco del Oro and Santa Barbara mines mineral trend- La Cigarra mineral belt model.
Regional Significance
Regional magnetic data indicates that the major districts in the region (Santa Barbara/San Francisco del Oro and La Prieta/Veta Colorada) are spatially related to deep-seated intrusive bodies (see regional magnetics map). The Company believes that La Cigarra has potential to host high grade polymetallic veins and skarn/replacement bodies similar to the deposits at San Francisco del Oro and Santa Barbara that have been mined for centuries. Click the following link to view a map of La Cigarra showing the regional magnetic model: http://www.northairsilver.com/i/maps/2015-06-10_LaCigarraRegionMag.jpg
Support of Proposed Drilling Program
The La Cigarra silver deposit is a northwest striking tabular body that dips moderately to the northeast and follows a silicified and faulted contact with favorable host sedimentary rocks. On the northwest end of the deposit, at San Gregorio, high grade (+100 g/t Ag) silver is spatially-related to a circular magnetic high interpreted to be an intrusive center. Modeling of the magnetic data indicates that another intrusive center is located on the east side of Las Carolinas. As at San Gregorio, higher grade also appears to be spatially-related to an intrusive center. Proposed drilling in the east and southeast part of Las Carolinas will test for mineralization in these interpreted favorable target zones.
The structural pattern that controls mineralization in the resource area is apparent in the new magnetic data. The Company will refine its upcoming resource expansion drilling program by tracking the mineralized north-south structures through the deposit and targeting the down-dip projection of where the structures intersect the predicted mineralized contact horizons. Click the following link to view a map of the proposed drill plan over the magnetics: http://www.northairsilver.com/i/maps/2015-06-10_LaCigarraTargetResource.jpg
New Drill Targets Identified
The structural framework of La Cigarra is clearly shown in the 3D inversion model (see new target areas map). Of particular importance is the 3.8 km long north to northwest trending linear magnetic low in the center of the image. The Company believes this linear magnetic low represents alteration superimposed on hornfels sediments along a north to northwest trending fault. This north to northwest trending structure intersects a north-south trending fault that controls a strongly mineralized target within the Ram Zone (see INM PR #14-04 dated April 28, 2014). Click the following link to view a map showing the new targets on the magnetic model: http://www.northairsilver.com/i/maps/2015-06-10_LaCigarraTargetDistrict.jpg
Cigarrra 7
Alluvium covers most of the Cigarra 7 concession. The main feature identified from the magnetics is an elongate magnetic low that matches the shape of the proposed buried anticline (see Cigarra 7 map). The typical N-S and NW trending structural fabric of the region are mappable in the magnetic low. The structural link between La Cigarra and the San Francisco del Oro (SFdO) and Santa Barbara (SB) districts is evident as the structural network at Cigarra 7 projects to the SSE towards SFdO and to the NNW towards La Cigarra. Magnetic data indicates that the alluvial cover is 100 to 150 meters deep. Potential targets exist on the northeast flank of the magnetic high where NNW-trending structures are interpreted. Further work at Cigarra 7 may include geochemical surveys such as mercury soil gas and/or biogeochemical studies. Click the following link to view a map of the magnetic model on the Cigarra 7 concessions: http://www.northairsilver.com/i/maps/2015-06-10_LaCigarraTargetCig7RTP.jpg
Qualified Persons
Mr. David Ernst, a professional geologist and VP Exploration of Northair is a Qualified Person as defined by NI 43-101. Mr. Ernst has reviewed the technical information in this news release and approves the disclosure herein.
About Northair Silver Corp.
Northair is focused on advancing its flagship La Cigarra silver project located in the state of Chihuahua, Mexico, 26 kilometres from the historic silver mining city of Parral. The property boasts nearby power, good road access, gentle topography, established infrastructure. The mineralized system at La Cigarra has been traced over 6.5 kilometres and is defined at surface as a silver soil anomaly and by numerous historic mine workings. The La Cigarra silver deposit is open along strike and at depth and is approximately 20 kilometres north, and along strike of Minera Frisco's San Francisco del Oro mine and Grupo Mexico's Santa Barbara mine.
ON BEHALF OF THE BOARD, NORTHAIR SILVER CORP.
Andrea Zaradic, P. Eng., President & CEO
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.
Caution Concerning Forward-Looking Statements
This news release may contain forward looking statements which are statements that are not statements of historical fact, such as statements regarding the mineral resource estimates, results of the sensitivity analysis, anticipated production or results, sales, revenues, costs, or discussions of goals and exploration results, and involve 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, mineral 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.
Cautionary Note Concerning Estimates of Measured, Indicated and Inferred Mineral Resources
This news release uses the terms "Measured and Indicated Resources" and "Inferred Resources", which have a great amount of uncertainty as to their existence, and great uncertainty as to their economic feasibility. It cannot be assumed that all or any part of a Measured and Indicated and/or Inferred Mineral Resource will ever be upgraded to a higher category. Under Canadian rules, estimates of Inferred Resources may not form the basis of feasibility or other economic studies. Northair advises U.S. investors that while this term is recognized and required by Canadian regulations, the U.S. Securities and Exchange Commission does not recognize it. U.S. investors are cautioned not to assume that part or all of a Measured, Indicated and Inferred resource exists, or is economically or legally minable.
Contact
Northair Silver Corp.
Andrea Zaradic
President & CEO
604-687-7545
info@northair.com
Northair Silver Corp.
Chris Curran
Manager of Corporate Communications
604-687-7545
info@northair.com
www.northairsilver.com