Northair Intersects 336.1 g/t Silver Over 10.4 Metres at La Cigarra Project, Mexico
- High Grade Silver Area Emerging in Las Carolinas Zone- Overall Strike Length of Resource Area Increases to 2,400 Metres
- Core Drill Program Expanded; Data to be Included in Upcoming Resource Estimate
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 10/23/12 -- International Northair Mines Ltd. (TSX VENTURE: INM) (the "Company" or "Northair") is pleased to announce assay results from 11 core holes completed in the Las Carolinas Zone at its La Cigarra silver project, located in north central Mexico.
"Recent drilling continues to provide positive infill data and has extended the La Cigarra mineral system 100 metres to the south, increasing the known strike length of the combined San Gregorio and Las Carolinas zones to approximately 2.4 kilometres," said Fred Hewett, President and CEO of Northair. "We are very encouraged with the results of hole CC-12-104, which extended the continuity of silver mineralization down dip from holes CC-11-006 and CC-11-012. These results also suggest the discovery of a new high grade area comparable to that previously defined in the San Gregorio Zone. Further work is necessary to determine if this enriched silver zone can be traced southerly in Las Carolinas.
"As well, the results from holes CC-12-067 and CC-12-108 show that mineralization extends to the southern boundary of the original La Cigarra concessions with indications of a second parallel system. These intersections are also on trend towards the Las Venadas and La Soledad zones, located 500 and 1,200 metres respectively on the newly acquired concession."
To view the map of the La Cigarra mineralized trend please click on the following link:
http://www.internationalnorthair.com/i/pdf/2012-10-23-La_Cigarra_Mineralized_Trend_PR.pdf
Drilling Highlights:
-- Hole CC-12-067 returned intercepts of 15.50 metres of 20.6 g/t silver,
3.0 metres of 21.1 g/t silver and 3.00 metres of 34.3 g/t silver. Hole
CC-12-067 is a step out hole positioned approximately 100 metres south
of CC-12-065; previously the most southern hole drilled within the La
Carolinas Zone;
-- Hole CC-12-104 returned an intercept of 66.80 metres of 80.2 g/t silver,
including 10.40 metres of 336.1 g/t silver. This hole tested the down
dip projection of hole CC-12-006;
-- Hole CC-12-105, intercepted 25.00 metres of 48.1 g/t silver, including
9.00 metres of 90.6 g/t silver. This hole tested the up-dip projection
of mineralization encountered in hole CC-12-103;
-- Hole CC-12-108 intercepted 31.50 metres of 25.6 g/t silver including
8.85 metres of 55.2 g/t silver. This hole confirmed the strength of the
mineralized system at its presently known southern end.
To view the site plan of the Las Carolinas Zone please click on the following link:
http://www.internationalnorthair.com//i/pdf/2012-10-23-Las_Carolinas_Drill_Plan_PR.pdf
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-12-067 50 degrees 4.00 19.50 15.50 20.6 0.007
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87.00 90.00 3.00 21.1 0.040
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120.00 123.00 3.00 34.3 0.010
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CC-12-097 51 degrees 86.90 106.20 19.30 52.4 0.034
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CC-12-100 50 degrees 135.40 147.70 12.30 60.6 0.031
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CC-12-104 55 degrees 85.80 152.60 66.80 80.2 0.044
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Note 1 38.8
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Includes 85.80 96.20 10.40 336.1 0.022
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Note 1 73.1
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163.50 165.80 2.30 28.7 0.022
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CC-12-105 51 degrees 28.50 53.50 25.00 48.1 0.037
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Includes 33.00 42.00 9.00 90.6 0.047
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80.75 84.00 3.25 45.9 0.022
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CC-12-106 52 degrees 51.00 60.00 9.00 55.2 0.054
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88.50 91.30 2.80 58.1 0.025
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CC-121-107 51 degrees 7.40 17.30 9.90 34.9 0.036
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32.40 34.80 2.40 17.8 0.038
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CC-12-108 51 degrees 48.00 79.50 31.50 25.6 0.038
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Includes 56.00 64.85 8.85 55.2 0.055
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CC-12-109 49 degrees 10.50 18.30 7.80 32.5 0.042
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CC-12-110 51 degrees 18.50 28.50 10.00 31.2 0.066
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CC-12-111 No Significant Intervals
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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 10 g/t
silver.
Note 3: Intervals also contain lead and zinc values.
To view the comprehensive results of all the drill holes completed to date on the La Cigarra Project please click the link: http://www.internationalnorthair.com/i/pdf/2012-10-23_Drill_Hole _Interval_Comprehensive.pdf
Northair has now released data from 111 of the 118 core holes currently completed at La Cigarra. Assays for the remaining 7 core holes (all completed in the Las Carolinas Zone) will be released once results are received and interpreted. Since the first drill program was initiated on the property in 2010, the Company has completed 133 drill holes totaling 21,953.5 meters, comprising 15 reverse circulation holes and 118 HQ sized core holes.
Core Drill Program Recommences
To follow-up recent positive results Northair has recommenced its core drilling program on the project. This will consist of at least 4,500 metres and will focus on testing the down dip projection of San Gregorio mineralization and include infill drilling at Las Carolinas. The additional drilling will provide a better understanding of the geology and related structures within the zones, all of which remain open along strike and down dip. This data will supplement the results from previous drilling and be included in the Company's upcoming NI 43-101compliant resource estimate scheduled for Q1 2013.
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 32,064 hectare property position controls an emerging mineral district with permissive geology and numerous historical mine workings. Of immediate significance is the San Gregorio/Las Carolinas area where an initial resource estimate is being calculated. Further exploration and infill drilling is presently underway with the objective of providing sufficient data to expand the property resource and define additional targets for drilling.
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
International Northair Mines Ltd.
Chris Curran
Manager of Corporate Communications
604-687-7545 or 1-888-338-2200
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.internationalnorthair.com