News
October 24, 2006
Additional La India Sampling Returns 2.42 g/t Gold Over 15 Metres
International Northair Mines Ltd. (TSXV:INM) announces further sample results from the La India Project located in the State of Durango, Mexico.
The program of geological mapping and sampling conducted by the Company within the main La India zone continues to yield encouraging results. Continuous sampling averaged 2.42 g/t gold over a 15 meter interval while the remainder of the samples were mainly 5 metre chips taken from outcrops within the mineralized system. Sample results from the program continue to demonstrate the pervasive nature of the gold mineralization, with virtually all samples reporting greater than anomalous gold. Of the 37 samples taken during the current program, 15 returned values exceeding 0.5 g/t gold, and four reported 2.10, 2.61, 2.55 and 2.11 g/t gold over 5 metres. Previously reported intervals of continuous sampling included 32 metres of 2.31 g/t gold, and 48 metres of 1.08 g/t gold. Recently completed geological mapping was concentrated within the currently defined zone of mineralization and alteration, which has been mapped over a strike length of approximately 300 metres with widths locally exceeding 70 metres. The zone is controlled by parallel northwest striking faults within rhyolite volcanics that have been intruded by numerous rhyolite stocks, dikes and sills. The volcanics and intrusive rocks exhibit high level silica flooding and quartz veining, with extensive hydrothermal brecciation.
The Company is currently engaged in a regional geological reconnaissance program within the roughly 1850 hectare property position. The program includes geological mapping and rock chip and stream sediment sampling. Regional exploration potential is considered good, with several other areas of intrusives and alteration indicated. Enquiries from other companies have been received about possible joint venture participation at La India and also the El Reventon Project, (see News Release #06-06), and Northair is reviewing its strategy in this regard.
La India contains low sulfidation gold mineralization that the Company believes has the potential to contain bulk mineable gold deposits. The project has excellent access and infrastructure. It is located in the Sierra San Francisco, approximately 30 kilometres east of the small city of Santiago Papasquiaro and approximately 40 kilometres north of the state capital city of Durango. Local access is good with an existing logging road passing within 100 metres of the main zone.
Elsewhere, drilling by Sparton Resources Inc. is anticipated at the Sierra Rosario Project owned by Northair. Also, project work proceeds at the Company's La India and El Reventon properties, while generative exploration continues within the prospective Sierra Madre mineral belt. Acquisition targets have been identified and further detailed evaluations are underway.
Exploration programs in Mexico are supervised by Mr. Jim Robinson, Vice President of the Company, who is a Qualified Person as defined by National Instrument 43-101. The Company maintains a quality control program using best industry practices consistent with NI 43-101.
ON BEHALF OF THE BOARD,
INTERNATIONAL NORTHAIR MINES LTD.
"Fred G. Hewett"
Fred G. Hewett, P.Eng., President & CEO
FOR MORE INFORMATION CONTACT THE COMPANY AT 1-604-687-7545 or Toll Free 1-888-338-2200
Website: www.internationalnorthair.com Email: [email protected]
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this press release. 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 the Company's Sedar filings for a more detailed discussion of factors that may impact expected results.
The program of geological mapping and sampling conducted by the Company within the main La India zone continues to yield encouraging results. Continuous sampling averaged 2.42 g/t gold over a 15 meter interval while the remainder of the samples were mainly 5 metre chips taken from outcrops within the mineralized system. Sample results from the program continue to demonstrate the pervasive nature of the gold mineralization, with virtually all samples reporting greater than anomalous gold. Of the 37 samples taken during the current program, 15 returned values exceeding 0.5 g/t gold, and four reported 2.10, 2.61, 2.55 and 2.11 g/t gold over 5 metres. Previously reported intervals of continuous sampling included 32 metres of 2.31 g/t gold, and 48 metres of 1.08 g/t gold. Recently completed geological mapping was concentrated within the currently defined zone of mineralization and alteration, which has been mapped over a strike length of approximately 300 metres with widths locally exceeding 70 metres. The zone is controlled by parallel northwest striking faults within rhyolite volcanics that have been intruded by numerous rhyolite stocks, dikes and sills. The volcanics and intrusive rocks exhibit high level silica flooding and quartz veining, with extensive hydrothermal brecciation.
The Company is currently engaged in a regional geological reconnaissance program within the roughly 1850 hectare property position. The program includes geological mapping and rock chip and stream sediment sampling. Regional exploration potential is considered good, with several other areas of intrusives and alteration indicated. Enquiries from other companies have been received about possible joint venture participation at La India and also the El Reventon Project, (see News Release #06-06), and Northair is reviewing its strategy in this regard.
La India contains low sulfidation gold mineralization that the Company believes has the potential to contain bulk mineable gold deposits. The project has excellent access and infrastructure. It is located in the Sierra San Francisco, approximately 30 kilometres east of the small city of Santiago Papasquiaro and approximately 40 kilometres north of the state capital city of Durango. Local access is good with an existing logging road passing within 100 metres of the main zone.
Elsewhere, drilling by Sparton Resources Inc. is anticipated at the Sierra Rosario Project owned by Northair. Also, project work proceeds at the Company's La India and El Reventon properties, while generative exploration continues within the prospective Sierra Madre mineral belt. Acquisition targets have been identified and further detailed evaluations are underway.
Exploration programs in Mexico are supervised by Mr. Jim Robinson, Vice President of the Company, who is a Qualified Person as defined by National Instrument 43-101. The Company maintains a quality control program using best industry practices consistent with NI 43-101.
ON BEHALF OF THE BOARD,
INTERNATIONAL NORTHAIR MINES LTD.
"Fred G. Hewett"
Fred G. Hewett, P.Eng., President & CEO
Website: www.internationalnorthair.com Email: [email protected]
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this press release. 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 the Company's Sedar filings for a more detailed discussion of factors that may impact expected results.