Inomin Expands Beaver-Lynx Critical Minerals Project
2,836 Hectares Staked Including Large West Zone Target Adjacent to Gibraltar Copper Mine Property
Discussions Underway with Potential Project Partners as Investments in Canadian Nickel Projects with Low-Carbon Footprints Continue
Vancouver, January 19, 2024 - Inomin Mines Inc. (TSXV: MINE) ("Inomin" or the "Company") is pleased to report the Company has acquired 2,836 hectares through staking to expand its Beaver-Lynx critical minerals project (magnesium-nickel-chromium-cobalt) property to 25,292 hectares (Figure 1).
Figure 1. New claims at Beaver-Lynx.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3069/194822_c796c490f47c99b8_001full.jpg
Large West Zone Target
The largest area acquired, called the West Zone, is 1,927 hectares, and is adjacent to Taseko's Gibraltar copper-molybdenum mine property, the second largest open-pit copper mine in Canada.
The West Zone was acquired to cover a prominent 3.5 km x 3.5 km airborne magnetic target. This new area is the largest exploration target at Beaver - about three times the size of the South Zone - where Inomin made a magnesium-nickel-chromium discovery last summer (see September 19, 2023 news release).
Inomin considers the West Zone to be an important exploration target as every magnetic target at Beaver drilled to date has discovered near-surface magnesium and nickel mineralization, as well as other minerals including chromium and cobalt.
A 177-hectare area at the southern end of Beaver property was acquired to access a water source for drilling.
Like the West Zone, a 731-hectare new claim at Lynx covers two discrete anomalous airborne magnetic targets on the outside rim of a 10-km wide caldera, ring-shape structure.
"The West Zone is a considerable target with the potential for discovery of a seventh magnesium-nickel dominant system at Beaver," says John Gomez, President of Inomin. "Given our drilling success at Beaver, we look forward to exploring this compelling target."
Left: Beaver property airborne magnetic targets illustrated in red, and seven zones delineated by drilling and/or airborne surveys. Right: Google Earth of Beaver-Lynx property strategically located between Gibraltar and Mount Polley polymetallic mines, among the largest operating mines in British Columbia.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/3069/194822_c796c490f47c99b8_002full.jpg
Investment in Canadian Nickel Projects
In the past two years there has been increasing investment interest in Canadian nickel projects, particularly large, low-grade deposits with carbon capture opportunities. Of note is battery maker Samsung SDI's investment in Canada Nickel announced earlier this month. Other Canadian nickel project deals involve Sumitomo Metal Mining, Agnico Eagle, and Mitsubishi Corp.
Similar to projects attracting major funding, Inomin's Beaver-Lynx has the potential to be prospective for a district-scale, bulk-tonnage, nickel-magnesium project, amenable to low carbon mining.
The Company has recently had discussions with potential project partners seeking large-scale critical mineral projects in tier one jurisdictions.
About Beaver-Lynx Critical Minerals Project
The Beaver-Lynx property, comprising approximately 25,000 hectares, is ideally located in south-central British Columbia, 50 kilometres from the city of Williams Lake and just 8 kilometres east of the Gibraltar mine, a large, open-pit, mining operation grading approximately 0.27% copper equivalent. Beaver-Lynx is easily accessible by good all-season roads, and is close to hydro-electric power, as well as active railway lines. Inomin owns a 100% interest in the project with no encumbrances.
Drilling programs at Beaver have delineated six large zones containing high-grade magnesium and other critical minerals, primarily sulphide nickel, as well as chromium, and cobalt. Numerous targets exist that have yet to be drill tested.
Conference Participation
Inomin will be participating at the following investor-industry events:
Vancouver Resource Investment Conference (booth #223), Vancouver, BC - January 21-22, 2024.
PDAC (booth #2751), Toronto, ON - March 5-8, 2024.
Inomin Mines Director, L. John Peters, P.Geo., a qualified person as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects, has reviewed and approved the technical information in this news release.
About Inomin Mines
Inomin Mines is focused on the identification, acquisition, and exploration of mineral properties with strong potential to host significant resources, especially critical minerals, as well as gold and silver projects. Inomin trades on the TSX Venture Exchange under the symbol MINE. For more information visit www.inominmines.com and follow us on Twitter @InominMines.
On behalf of the board of Inomin Mines:
Inomin Mines Inc.
Per: "John Gomez"
President and CEO
For more information please contact:
John Gomez
Tel. 604-643-1280
info@inominmines.com
Cautionary Note Regarding Forward-Looking Information
This news release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "occur". This information and these statements, referred to herein as "forward‐looking statements", are not historical facts, are made as of the date of this news release and include without limitation, statements regarding discussions of future plans, estimates and forecasts and statements as to management's expectations and intentions with respect to, among other things, the plans and expectations of the Company with respect to the Beaver-Lynx project, and in particular, the West Zone, the potential of the Beaver-Lynx project as a nickel-magnesium project, and the participation of the Company in future investor events.
These forward‐looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things, that the exploration programs at the Beaver-Lynx property and the West Zone are not carried out as planned, that the Company is not able to develop the Beaver-Lynx as a district-scale, bulk-tonnage, nickel-magnesium project, that the Company may not acquire sufficient financial resources to fund its operations, that the Company may fail to discover mineral deposits sufficient in size to return a profit from production, and that unexpected events may occur resulting in the Company being absent from future investment conferences.
In making the forward looking statements in this news release, the Company has applied several material assumptions, including without limitation, that the Company will deploy resources in a manner that will allow the Company to conduct the exploration programs at the Beaver-Lynx property and the West Zone as planned, that future exploration programs at the Beaver-Lynx property will yield favorable results or results consistent with previous programs conducted at the Beaver-Lynx property, and that the Company will obtain sufficient funds to fund future operations.
Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.
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 release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/194822