VANCOUVER, BRITISH COLUMBIA, Mar 26, 2015 (Marketwired via COMTEX) — Northair Silver Corp. (INM) (the "Company" or "Northair") is pleased to announce positive results from its ongoing mapping and sampling program at its flagship La Cigarra silver project (the "Project") located in Chihuahua State, Mexico.
Andrea Zaradic, President and CEO notes: "Northair has embarked upon an aggressive mapping and sampling program in anticipation of its next round of exploration drilling designed to continue expansion of the La Cigarra resource. In addition, we will aggressively explore for new discoveries on our large +36,000 hectare property position located along the prolific Parral Silver belt. Recent sample results from the La Borracha and La Colorada zones support our belief that La Cigarra has the size potential to exceed our goal of 100 million ounces of silver."
Mapping and rock chip sampling within the La Borracha Zone has confirmed a continuation of mineralized outcrops from the limit of the current La Cigarra resource area to the northwest with results potentially increasing the strike length of mineralization an additional 1.1 kilometres. Of the 46 rock samples taken in the area, eight returned grades greater than 100 g/t silver with a high value of 378 g/t silver. See table below for further highlights. Of important note is that mapping completed by Northair in the La Borracha area suggests that the same mineralized horizon which hosts the current La Cigarra resource continues on the north side of a post mineral fault. It was previously believed that this fault cut-off mineralization to the northwest. The Company's recognition of the potential continuation of the La Cigarra mineralized zone across this fault creates a new mostly untested target area with significant resource expansion potential. In addition, detailed mapping in the area has identified at least two important north-south trending structures believed to control higher grade mineralization. La Borracha remains a highly prospective area and will be a primary focus in the next round of planned resource expansion drilling.
La Borracha Zone – Channel and Rock Chip Sampling Highlights greater than 30 g/t Silver
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Ag Width
Sample East North (g/t) Type (metres)
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231676 409154 2993314 378 Channel 1.2
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231687 409311 2993073 293 Channel 1.2
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231674 409142 2993323 197 Channel 1.2
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230294 408679 2993389 178 Dump n/a
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231681 409073 2993304 162 Channel 1
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231682 409074 2993305 138 Channel 1.2
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231662 408997 2993352 114 Channel 1.1
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230295 408681 2993375 105 Channel 1.2
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230473 408702 2993366 86.4 Channel 0.6
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230475 408714 2993250 81.0 Channel 1.0
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231685 409172 2993219 79.6 Channel 1.15
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726464 408717 2993237 76.6 Channel 1.7
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230478 408852 2993362 70.8 Channel 1.0
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231665 408970 2993349 55 Channel 1.1
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230477 408841 2993359 44.9 Channel 1.0
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231672 409114 2993328 43.6 Channel 1.1
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231675 409149 2993319 43.3 Channel 1.4
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231666 408947 2993344 35.2 Channel 1.1
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230300 408764 2993415 35.1 Channel 1.5
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231686 409176 2993213 34.3 Channel 1.1
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231683 409034 2993320 31.7 Channel 1.1
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230282 408249 2993759 30.3 Dump
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Recent mapping and sampling was also completed approximately one (1) kilometre west of the La Cigarra resource in the northern part of the La Colorada Zone. This large target measures approximately 300 metres by 120 metres and of the 51 rock chip samples taken here, three (3) returned over 40 g/t silver including a 1 metre channel sample reporting 59.0 g/t silver. Nine (9) of the samples also contained between 10 g/t and 40 g/t silver. Results of these samples support the presence of important silver mineralization hosted in a northwest-trending, southwest-dipping structural zone(s) occurring on the western flank of the La Cigarra anticline. This portion of the La Colorada zone represents an entirely new target area which will be included in the next round of planned drilling.
The La Colorada target area is located approximately 1.6 kilometres northwest of the Ram Zone which is also situated on the west flank of the anticline. Trenching at Ram returned 35.45 metres of 67.3 g/t silver (including 16.20 metres of 99.6 g/t silver and 4.85 metres of 141.4 g/t silver). Channel sampling of quartz veining and stock-work taken across an exposed 33 metre long underground adit at Ram returned an average silver grade of 554.8 g/t; with grades varying from 87.8 g/t silver to 2,850 g/t silver. See INM PR #14-04 dated April 28, 2014.
La Colorada North Zone – Channel and Rock Chip Sampling Highlights greater than 10 g/t Silver
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Ag
Sample East North (g/t) Type Width
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230291 408425 2993240 59 Channel 1.0
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726434 408435 2993220 56.1 Channel 1.3
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231697 408341.5 2993198 40.7 Channel 1.9
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231692 408336.3 2993194 20.9 Channel 1.2
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726436 408431 2993202 20.3 Channel 1.3
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726435 408438 2993216 20.1 Channel 1.4
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726417 408353 2993165 14.6 Channel 2.0
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231696 408340.3 2993197 12.5 Channel 1.5
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230292 408353 2993193 11.2 Channel 1
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231691 408335.6 2993193 10.7 Channel 1.0
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231695 408339.1 2993196 10.5 Channel 1.2
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726420 408356.7 2993167 10.3 Channel 2.0
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Along with La Borracha and the northern part of La Colorada, the southeastern portion of Las Carolinas and the La Navidad target are contiguous with the known resource and highly prospective for resource expansion. These areas are scheduled for drilling during the Company's next round of exploration. Other prospective targets (main portion of La Colorada, La Soledad, Nogalera, Ram, Las Chinas and Las Venadas) are currently being evaluated for their future resource potential.
Click on the following link to view a map of the La Cigarra Immediate Resource Expansion targets: http://media3.marketwire.com/docs/998728-F1.jpg
Click on the following link to view the Detailed Inset Map of the La Borracha and La Colorado North Zones: http://media3.marketwire.com/docs/998728-F2.jpg
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. The samples are dried, crushed and pulverized with the pulps being sent airfreight for analysis by ALS in Vancouver B.C. Systematic assaying of standards is 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.
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 36,000 hectare property boasts nearby power, good road access, gentle topography, established infrastructure and currently hosts a NI 43-101 Resource estimate of 51.47 million ounces of silver in the Measured & Indicated categories grading 86.3 g/t silver and 11.46 million ounces of silver in the Inferred category grading 80 g/t silver. 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 25km north, and along strike of Grupo Mexico's Santa Barbara mine and Minera Frisco's San Francisco del Oro 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.
Contacts:
Northair Silver Corp.
Andrea Zaradic
President & CEO
604-687-7545 or 1-888-338-2200
Northair Silver Corp.
Chris Curran
Manager of Corporate Communications
604-687-7545 or 1-888-338-2200
[email protected]
www.northairsilver.comSOURCE: Northair Silver Corp.
