Additional Nivloc Project Drill Results Provided by Infrastructure Materials Corp.'s Option Holder
April 02 2012 - 8:20AM
Infrastructure Materials Corp. (OTCBB:IFAM) (TSX-V:IFM)
(TSX-V:IFM.s) (the "Company") reports that International Millennium
Mining Inc. ("IMMI"), the option holder for the Nivloc Mine Project
(the "Project") released assay results from four additional diamond
drill holes at the Project. IMMI, a wholly-owned subsidiary of
International Millennium Mining Corp. (TSX-V:IMI), is continuing
its exploratory drilling at the Project under an option agreement
to acquire an 85% interest in 18 claims at the Project that are
held by the Company's wholly-owned subsidiary, Silver Reserve Corp.
The results announced by IMMI are from holes 11NL-31 and 11NL-34
(see drill highlights and table below), located in the western part
of the Nivloc Vein Structure. All 4 holes were collared from pad 4
and are part of a systematic drilling program designed to test a
1,200 foot long by 600 foot vertical, un-mined zone within the
Nivloc Mine. Three of these holes were designed to test the upper
part of the target area, above the area outlined by previous
drilling. All holes intersected the Nivloc host structure with the
best intersection being from the deepest hole, 11NL-31.
Drill Highlights from hole 11NL-31:
53 feet @ 92.3 g/t Ag and 0.86 g/t Au - Main Nivloc vein,
including:
22 feet @ 165.3 g/t Ag and 1.88 g/t Au - Main Nivloc vein
Hole 11NL-31 intersected the Nivloc vein system between the 700
and 800 foot levels, in the western portion of the target area, 200
feet east of the westernmost mine workings.
Hole 11NL-32 intersected the zone beneath the 440 foot level.
Holes 11NL-33 and 11NL-34 were aimed above the 440 foot level with
the latter intersecting the zone at its shallowest point to date
(200 foot level) The holes show a weakening of grade in this area.
The level numbers referred to above, along with distances from
other features, are deemed to be approximate.
Summary of Drill Hole
Results |
|
Hole No.*** |
AZo |
Dipo |
Interval (feet) |
Width (feet)
(drill) |
Width (feet) (estimated
true)* |
Ag (g/t) |
Au (g/t) |
Vein
Description** |
11NL-31 |
055 |
-86 |
876.0 – 929.0 |
53.0 |
35.4 |
92.3 |
0.86 |
MNV |
Including |
|
|
896.0 – 918.0 |
22.0 |
14.7 |
165.3 |
1.88 |
MNV |
11NL-32 |
116 |
-63 |
624.5 – 713.0 |
88.5 |
68.0 |
25.1 |
0.23 |
MNV |
Including |
|
|
624.5 – 660.0 |
35.5 |
27.3 |
45.5 |
0.50 |
MNV |
Including |
|
|
629.0 – 635.0 |
6.0 |
4.6 |
106.0 |
0.80 |
MNV |
11NL-33 |
090 |
-68 |
610.0 – 746.0 |
136.0 |
75.6 |
10.1 |
0.07 |
MNV |
Including |
|
|
739.0 – 746.0 |
7.0 |
3.9 |
31.7 |
0.16 |
MNV |
11NL-34 |
109 |
-47 |
621.0 – 657.0 |
36.0 |
27.9 |
36.7 |
0.19 |
MNV |
Including |
|
|
626.0 – 629.8 |
3.8 |
2.9 |
142.0 |
0.13 |
MNV |
*Estimated true widths are
calculated and may change slightly with additional structural
information. |
**Main Nivloc Vein (MNV). |
***Previous drill hole results
are set out in the Company's prior news releases. |
The drilling reported to date has been focused on a target area
that lies between previously mined zones within the
northeast-southwest-trending Nivloc vein structure. A strongly
mineralized zone has been outlined between the 440 and 800 foot
level drifts in the old mine workings with lower grade
mineralization above the 440 foot level. The 800 foot mine level is
approximately 900 feet vertically below surface, and the vein and
workings dip from minus-45 to minus-65 degrees toward the
northwest. Previous mining at Nivloc focused on high-grade lenses
of ore that were encountered while drifting along the vein
structure. The IMMI drilling program indicates the Nivloc structure
ranges from 50 to more than 150 feet wide and contains several
parallel vein zones In addition to the potential for high-grade
lenses similar to those mined historically, the material between
the lenses is consistently mineralized to some degree.
IMMI has also commenced the second phase of its drilling program
at the Project. The holes in this program are designed to tighten
the drill spacing in parts of the previously drilled target area
and to expand the currently defined mineralized zone by stepping
out along strike towards the northeast and southwest. Part of the
2012 drilling program will be directed beneath and 500 feet west of
the most westerly workings, and to the northeast of the main
workings in order to test the mineralized zone beyond the current
target area.
It is stressed that no tonnage or grade estimates have been
calculated to date. IMMI reports that information from the current
drilling program has been incorporated into a geological model for
the Nivloc deposit. The results are currently being evaluated for
the purpose of converting the data into a Canadian National
Instrument (NI) 43-101 compliant resource for the area drilled and
to determine locations for additional drilling.
The drill assay intervals were calculated using the weighted
average method. Drill core assaying was conducted by ALS Minerals,
which is an ISO-certified laboratory. IMMI reports that it has
implemented a quality assurance and quality control program to
ensure that sampling and analysis of all samples are conducted in
accordance with the best possible practices. The system includes
the use of standards, blanks and duplicates to ensure analytical
accuracy and the submission of duplicate samples to a second
laboratory to verify the integrity of the analytical results.
Thomas L. Evans, California Professional Geologist, the
qualified person under NI 43-101 in charge of the drilling program,
reviewed and approved the technical disclosure of this press
release.
Infrastructure Materials Corp. is a Reno, Nevada based
exploration stage mining company that is directing its efforts to
the exploration and development, if warranted, of cement grade
limestone deposits in strategic locations in the United States and
Canada and precious metal properties located in Nevada.
For further information please see our public filings at
www.sedar.com and www.sec.gov/edgar.shtml or contact:
Mason Douglas, President Phone 866-448-1073 Fax 775-322-4458
Email: info@infrastructurematerialscorp.com or visit our website at
www.cementforthefuture.com or
www.infrastructurematerialscorp.com
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.
This press release contains technical data concerning drilling
results that are intended for persons who have expertise with
respect to the interpretation of such data.
FORWARD-LOOKING STATEMENTS: This news release contains certain
"forward-looking statements" within the meaning of U.S. securities
laws. Forward-looking statements are frequently characterized by
words such as "plan," "expect," "project," "intend," "believe,"
"anticipate," "estimate" and other similar words or statements to
the effect that certain events or conditions "may", "have" or
"will" occur. This release also contains statements based upon
historical records pertaining to our mineral claims that have not
been verified by the Company. The term, "resource" is not a term
that is recognized by SEC guidelines and does not rise to the level
of certainty required by SEC guidelines. Forward-looking statements
or references to historical records are based on the material in
our possession, opinions and estimates of management at the date
the statements are made, and are subject to a variety of risks and
uncertainties and other factors that could cause actual events or
results to differ materially from those stated or projected in this
press release. The Company undertakes no obligation to update
forward-looking statements or historical information unless
specifically required by law. The reader is cautioned not to place
undue reliance on forward-looking statements.
International Millennium... (TSXV:IMI)
Historical Stock Chart
From Nov 2024 to Dec 2024
International Millennium... (TSXV:IMI)
Historical Stock Chart
From Dec 2023 to Dec 2024