VANCOUVER, BRITISH COLUMBIA, Feb 28, 2012 (MARKETWIRE via COMTEX) — International Northair Mines Ltd. (the “Company” or “Northair”) is pleased to announce assay results from eight core drill holes recently completed in the San Gregorio Zone at its La Cigarra silver project, located in north central Mexico.
Highlights of the Continuing Drill Program
— Hole CC-11-045, drilled 200 metres southeast of hole CC-11-038 (33.75
metres of 101.1 g/t silver) intercepted 16.45 metres of 127.4 g/t silver
including 7.60 metres of 230.0 g/t silver and successfully extended the
southern projection of San Gregorio mineralization by 200 metres. Hole
CC-11-045, along with CC-11-046 are currently the most southern holes
drilled in the San Gregorio Zone;
— Holes CC-11-047 and 048 were drilled 50 and 100 metres northwest of CC-
11-035 and successfully extended the mineralized strike length of the
zone by 100 metres to the north. Hole 48 is currently the most northern
hole drilled in the San Gregorio Zone.
— Holes CC-11-041, 042 and 043 were all drilled to test the up dip
projection of known mineralization and provide further information for
the upcoming resource calculation. All of these holes were successful,
highlighted by:
— 24.80 metres of 59.5 g/t silver in hole CC-11-041;
— 26.45 metres of 39.3 g/t silver in hole CC-11-042; and,
— 26.90 metres of 56.0 g/t silver in hole CC-11-043.
— Hole CC-11-044, positioned between Hole CC-11-038 and CC-11-045,
intercepted 13.00 metres of 16.3 g/t silver and encountered (at the
bottom of the hole) a 1.00 metre high grade interval containing a
massive chalcopryrite vein returning 306.7 g/t silver and 5.3 % copper;
“We are very pleased by our drilling as results continue to expand the potentially surface minable mineralized system on the Property,” said Fred Hewett, President & CEO of Northair. “The San Gregorio and Las Carolinas Zones have now been drilled over a strike length totaling 1.9 kilometres. Exploration upside of this mineralized system remains excellent as both zones remain open along strike and down dip, providing the Company with significant potential to expand the mineralization for the upcoming resource calculation scheduled to be released in 2012.”
To date, Northair has reported 48 diamond drill holes completed at La Cigarra totaling 9,750 metres in length. Continued drilling on the Property will be focused on infill drilling within the San Gregorio and Las Carolinas zones and step out drilling to test the intervening prospective areas between the San Gregorio and Las Carolinas mineralized zones. Since drilling recommenced in 2012, the Company has completed an additional seven holes within the San Gregorio Zone. The results for all future drill holes will be reported once the Company has received and interpreted the results.
Drill Results
San Gregorio Zone
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From To Drill Intercept Silver Gold
Hole Dip (metres) (metres) (metres) g/t g/t
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CC-11-041 -49 0.00 24.80 24.80 59.5 0.061
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Includes 0.00 15.70 15.70 62.6 0.055
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47.35 57.10 9.75 14.7 0.031
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CC-11-042 -50 38.40 64.85 26.45 39.3 0.064
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Includes 42.10 50.35 8.25 65.3 0.047
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CC-11-043 -89 35.70 43.45 7.75 42.2 0.045
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71.90 98.80 26.90 56.0 0.037
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Note 1 46.9 0.037
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Includes 71.90 89.95 18.05 74.0 0.045
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Note 1 60.4 0.045
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CC-11-044 -49 121.00 134.00 13.00 16.3 0.059
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167.00 168.00 1.00 306.7 0.038
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CC-11-045 -51 87.50 103.95 16.45 127.4 0.065
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Note 1 123.5 0.065
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Includes 91.40 99.00 7.60 230.0 0.097
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Note 1 221.6 0.097
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176.45 178.20 1.75 29.9 0.091
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CC-11-046 -51 102.00 155.90 53.90 15.4 0.031
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Includes 102.00 118.60 16.60 23.8 0.041
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174.60 184.55 9.95 17.8 0.047
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CC-11-047 -45 109.35 115.80 6.45 107.0 0.022
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Note 1 83.6 0.022
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150.00 154.60 4.60 17.6 0.030
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168.30 175.50 7.20 21.5 0.056
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CC-11-048 -45 118.25 127.00 8.75 15.0 0.020
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151.90 160.60 8.70 19.1 0.034
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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 may also contain appreciable lead and zinc values.
Click the link below to view a plan of the San Gregorio Zone:
http://www.internationalnorthair.com/i/imagegallery/lacigarra/2012-02-27-La_Cigarra_San_Gregorio_Zone_Drill_Plan.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 Chemex Labs in Chihuahua for drying, crushing and pulverizing; with the pulps sent airfreight by ALS Chemex to Vancouver B.C. for analysis. 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 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 La Cigarra Project hosts a silver-rich, epithermal vein system with three identified zones forming a three kilometre trend.
Click the link below to view a drill plan of the La Cigarra Property:
http://media3.marketwire.com/docs/inm15_F3.pdf
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 1-888-338-2200International Northair Mines Ltd.
Chris Curran
Manager, Investor Relations
604-687-7545 or 1-888-338-2200
[email protected]www.northair.com/international/
