Northair Intersects 164 g/t Silver Over 15.9 Metres at La Cigarra Project, Mexico
Drilling Confirms a New Parallel Structure within a Strong Mineralized TrendLas Carolinas Zone Open Down Dip and to the South towards Las Venadas
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 01/15/13 -- International Northair Mines Ltd. (TSX VENTURE: INM) (the "Company" or "Northair") is pleased to announce assay results from ten recent core holes positioned in the Las Carolinas Zone of its La Cigarra silver project ("Property"), located in north central Mexico.
"We are very pleased with the results of our recent drilling, which was designed to infill and expand the La Carolinas system to the south. The program results support the continuation of a strong mineral system on trend with the Las Venadas Zone; lying 500 metres to the south," said Fred Hewett, President and CEO of Northair. "These results also confirm the discovery of a previously unknown hanging-wall structure that parallels the Las Carolinas main system. Drilling has shown this new discovery has a minimum strike length of 400 meters and is also open to the south and down dip."
Drill Highlights from the Las Carolinas Zone Infill Program:
- Drill results from holes CC-12-120 (section 6+00S) and CC-12-121 (section 3+50S) confirm that earlier holes CC-12-065 (5+00S) and CC-12- 067 (section 6+00S) intersected a newly discovered parallel hanging-wall structure located 50 metres to the east of the main La Cigarra system (the "Main System"). Drilling has traced this new structure for at least 400 metres (from section 2+00S to 6+00S), and it remains open. Hole CC- 12-120 reported 10 metres of 32.0 g/t silver and 20.4 metres of 37.5 g/t silver, extending both the Main System and the new hanging wall structure for 85 metres down dip from hole CC-12-067;
- Hole CC-12-119 returned multiple intercepts including 4 metres of 90.8 g/t silver and 4.9% lead starting from the bedrock contact; implying that the hole was collared in the zone. The upper 7 meters of the hole was logged as overburden, and retuned 52.2 g/t silver. Other intercepts from CC-12-119 include 4.40 metres of 45.6 g/t silver, 9 metres of 39.7 g/t silver and 2 metres of 41.6 g/t silver. This hole was drilled to test the up-dip continuity of both the Main System and the new hanging- wall structure 80 metres from where it was intersected in CC-12-067;
- Hole CC-12-124 intercepted 14.80 metres of 147.7 g/t silver. This hole tested the down dip projection of hole CC-11-15, which returned 5.10 metres of 98.7 g/t silver, 4.0 metres of 38.0 g/t silver and 2.85 metres of 50.3 g/t silver;
- Hole CC-12-125 intercepted 59.20 metres of 54.4 g/t, including 15.90 metres of 164.0 g/t silver. This hole tested the down dip projection of hole CC-12-060 which reported 69.65 metres of 22.5 g/t silver;
- Hole CC-12-127 intercepted 13.10 metres of 162.5 g/t silver. This hole tested the up-dip projection of CC-12-055, and confirmed good silver grades within the connecting area between Las Carolinas and San Gregorio.
To view the site plan of the Las Carolinas Zone please click on the following link:
http://www.internationalnorthair.com/i/pdf/2012-01-15_Las_Carolinas_Drill_Plan_PR.pdf
2012 Drilling Notes
Data collected from 2012 and all previous drilling within the Las Carolinas and San Gregorio area has defined a mineralized vein system, measuring 2.4 kilometres in length. This data will be used to calculate the Property's initial NI 43-101 compliant resource estimate due in Q1 2013.
To date, Northair has released the results of 128 of the 139 core holes completed on the Property. Assays for the remaining 11 core holes 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 23,876 meters of drilling in 15 reverse circulation holes and 139 HQ sized core holes.
Additional drilling is anticipated to commence in Q2 2013 to expand the initial Resource area, which remains completely open; and to test recently identified district targets generated from its ongoing field programs.
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-12-119 -50 degrees 0.00 7.00 7.00(i) 52.2 0.014
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7.00 11.00 4.00 90.8 0.014
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42.80 47.20 4.40 45.6 0.012
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54.50 63.00 9.00 39.7 0.054
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73.00 75.00 2.00 41.6 0.042
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CC-12-120 -51 degrees 68.00 78.00 10.00 32.0 0.013
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127.50 130.20 2.70 15.2 0.022
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140.60 161.00 20.40 37.5 0.037
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CC-12-121 -51 degrees 47.80 60.00 12.20 20.0 0.044
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100.20 118.80 18.60 45.5 0.053
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CC-12-122 -51 degrees 130.20 156.50 26.30 46.4 0.060
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CC-12-123 -69 degrees 162.80 192.80 30.00 28.1 0.051
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Includes 183.00 192.80 9.80 46.0 0.041
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CC-12-124 -52 degrees 89.00 97.70 8.70 9.3 0.160
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97.70 112.50 14.80 147.7 0.082
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Note 1 97.70 112.50 14.80 147.3 0.082
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154.00 159.00 5.00 26.0 0.031
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177.50 179.60 2.10 87.3 0.016
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CC-12-125 -54 degrees 99.00 158.20 59.20 54.4 0.043
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Note 1 99.00 158.20 59.20 31.5 0.043
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Includes 103.50 119.40 15.90 164.0 0.047
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Note 1 103.50 119.40 15.90 79.0 0.047
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175.50 190.85 15.35 29.4 0.027
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200.80 203.00 2.20 23.3 0.061
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221.00 224.40 3.40 30.2 0.021
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CC-12-126 -46 degrees 1.50 7.30 5.80 3.3 0.257
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7.30 14.20 6.90 25.5 0.048
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22.00 24.00 2.00 39.7 0.023
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CC-12-127 -50 degrees 35.00 48.10 13.10 162.5 0.059
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59.00 75.00 16.00 25.7 0.037
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CC-12-128 -50 degrees 13.00 24.00 11.00 15.8 0.028
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37.60 43.30 5.70 70.1 0.058
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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 also contain lead and zinc values.
(i) Collared in overburden and semi-competent rock from surface.
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/2013-01-15_Drill_Hole%20_Interval_Comprehensive.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 southeast. 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, measuring 2.4 kilometres in length, where an initial resource estimate is currently being calculated. Further exploration is currently being conducted 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.northair.com/international/