News
March 26, 2013
Northair Reports Continued Exploration Success along the Southern Extension of the Mineralized System at its La Cigarra Silver Project, Mexico
International Northair Mines Ltd. (TSXV: INM) (the "Company" or "Northair") is pleased to provide an update of the ongoing exploration program underway at its La Cigarra silver project ("Property"), located in north central Mexico.
Since the Company acquired the Property, exploration had been concentrated mainly in the northern half of the open 6.5 kilometre long La Cigarra mineralized system. Within the trend, drilling has outlined a continuously mineralized portion with a strike length of approximately 3.6 kilometers defined by the results of 154 drill holes. In February, utilizing only a 2.1 kilometre segment comprising the San Gregorio and Las Carolinas areas, the Company reported a measured and indicated mineral resource estimate of 50.5 million ounces of silver grading 76 g/t silver (see INM PR#13-05 dated February 26, 2013) contained in a Whittle pit shell at an economic cutoff grade of 30 g/t silver. Significant quantities of mineralized material existing along strike and down dip were excluded from the resource estimate in areas where drill-hole density was not sufficient to bring mineralization into the pit shell boundary.
Future drilling efforts will focus on this known area, as well as other immediate exploration targets including those outlined below. For an update summarizing the La Cigarra silver project, please refer to the Company's press release dated February 13, 2013.
Exploration Update:
Recent surface exploration by the Company has concentrated on the largely unexplored southern 3.5 kilometre portion of the system that lies on trend and immediately south of the Las Carolinas Zone. This work led to the discovery of three (3) new zones (Las Venadas, La Soledad and La Chinas). Please click the following link to view the location of the new zones:
http://www.internationalnorthair.com//i/maps/2013-03-26-La_Cigarra_Mineralized_Trend_PR.jpg
Each zone hosts a cluster of historic mine workings evenly spaced along the north-south trending mineralized system and exhibit geological similarities to the three (3) main La Cigarra showings to the north (La Borracha, San Gregorio and Las Carolinas). Surface sampling within these new zones returned significant silver values and Northair believes that the Las Venadas, La Soledad and La Chinas zones all have potential for both high grade veins and bulk tonnage surface mineable silver deposits.
Las Venadas, located 500 metres south of Las Carolinas, hosts multiple historic mine workings including a 20 metre deep shaft and two shallow prospect pits. Initial rock chip sampling here returned important silver values over an area measuring 230 metres by 90 metres. Nineteen of thirty three samples exceeded 20 g/t silver including a high of 233 g/t silver. The remaining fourteen samples returned values ranging from 1.1 g/t to 17.5 g/t silver. Follow up sampling confirms the presence of a north by northwest trending silver bearing structural zone measuring 700 meters long by 200 meters wide. This large mineralized area represents a high priority drill target. In addition, a second area with anomalous surface silver values up to 34 g/t silver occurs 300 metres west of the Las Venadas main trend. Based on the alignment and positioning of the scattered anomalous silver values to the northwest the Company believes that a parallel mineralized structure may exist on the western limb of the La Cigarra anticline.
La Soledad, situated approximately 500 meters south of Las Venadas, contains a number of large mine dumps and historic mine workings that exploited a series of silver bearing quartz veins. Although sampling here reported only moderate silver values, the scope of the historic mine workings are comparable to those found within the Las Carolinas Zone. Much of the area is covered, but soil sampling has defined a broad lead anomaly, supporting the probability that the mineralized system does underlie the covered area.
Las Chinas is located approximately 1,000 meters south of La Soledad and is comprised of a number of historic mine workings that exploited silver bearing quartz-calacite veins. Northair has thus far mapped and sampled 600 metres of this structure. Sampling yielded relatively low silver values with the exception of three rock chips that returned values up to 458 g/t over 0.90 metres. This area is defined by a significant lead-zinc soil anomaly and anomalous gold. The Company plans further sampling and mapping here with the objective of defining drill targets.
Summary:
The work done to date in the southern extension of the La Cigarra structure has demonstrated a robust mineralized system with numerous drill targets. The permissive geology and attractive surface sampling results present a compelling opportunity to expand the known resource. The Company is presently prioritizing target areas for an expected 2013 drilling program.
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.
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.
About International Northair Mines Ltd.
Northair is a mineral exploration company engaged in the acquisition and development of gold and silver properties in Mexico. The Company is currently focused on advancing its La Cigarra silver project located in the state of Chihuahua, which currently hosts a NI 43-101 resource estimate of 50.4 million ounces of silver in the measured & indicated categories grading 76 g/t silver and 3.5 million ounces of silver in the inferred category grading 61 g/t silver constrained by a Whittle pit shell at an economic cutoff grade of 30 g/t silver (assuming metallurgical recoveries of 84% silver). The La Cigarra silver deposit also contains appreciable lead and significant zinc and gold values.
ON BEHALF OF THE BOARD,
INTERNATIONAL NORTHAIR MINES LTD.
"Fred G. Hewett"
____________________________________
Fred G. Hewett, P.Eng.
President & CEO
For further information please contact Fred Hewett, President, Chris Curran, Manager of Corporate Communications or Brent Levenstadt, Investor Relations Associate
at 604-687-7545 or 1-888-338-2200
Website: www.northair.com/international/ Email: [email protected]
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.
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.
Since the Company acquired the Property, exploration had been concentrated mainly in the northern half of the open 6.5 kilometre long La Cigarra mineralized system. Within the trend, drilling has outlined a continuously mineralized portion with a strike length of approximately 3.6 kilometers defined by the results of 154 drill holes. In February, utilizing only a 2.1 kilometre segment comprising the San Gregorio and Las Carolinas areas, the Company reported a measured and indicated mineral resource estimate of 50.5 million ounces of silver grading 76 g/t silver (see INM PR#13-05 dated February 26, 2013) contained in a Whittle pit shell at an economic cutoff grade of 30 g/t silver. Significant quantities of mineralized material existing along strike and down dip were excluded from the resource estimate in areas where drill-hole density was not sufficient to bring mineralization into the pit shell boundary.
Future drilling efforts will focus on this known area, as well as other immediate exploration targets including those outlined below. For an update summarizing the La Cigarra silver project, please refer to the Company's press release dated February 13, 2013.
Exploration Update:
Recent surface exploration by the Company has concentrated on the largely unexplored southern 3.5 kilometre portion of the system that lies on trend and immediately south of the Las Carolinas Zone. This work led to the discovery of three (3) new zones (Las Venadas, La Soledad and La Chinas). Please click the following link to view the location of the new zones:
http://www.internationalnorthair.com//i/maps/2013-03-26-La_Cigarra_Mineralized_Trend_PR.jpg
Each zone hosts a cluster of historic mine workings evenly spaced along the north-south trending mineralized system and exhibit geological similarities to the three (3) main La Cigarra showings to the north (La Borracha, San Gregorio and Las Carolinas). Surface sampling within these new zones returned significant silver values and Northair believes that the Las Venadas, La Soledad and La Chinas zones all have potential for both high grade veins and bulk tonnage surface mineable silver deposits.
Las Venadas, located 500 metres south of Las Carolinas, hosts multiple historic mine workings including a 20 metre deep shaft and two shallow prospect pits. Initial rock chip sampling here returned important silver values over an area measuring 230 metres by 90 metres. Nineteen of thirty three samples exceeded 20 g/t silver including a high of 233 g/t silver. The remaining fourteen samples returned values ranging from 1.1 g/t to 17.5 g/t silver. Follow up sampling confirms the presence of a north by northwest trending silver bearing structural zone measuring 700 meters long by 200 meters wide. This large mineralized area represents a high priority drill target. In addition, a second area with anomalous surface silver values up to 34 g/t silver occurs 300 metres west of the Las Venadas main trend. Based on the alignment and positioning of the scattered anomalous silver values to the northwest the Company believes that a parallel mineralized structure may exist on the western limb of the La Cigarra anticline.
La Soledad, situated approximately 500 meters south of Las Venadas, contains a number of large mine dumps and historic mine workings that exploited a series of silver bearing quartz veins. Although sampling here reported only moderate silver values, the scope of the historic mine workings are comparable to those found within the Las Carolinas Zone. Much of the area is covered, but soil sampling has defined a broad lead anomaly, supporting the probability that the mineralized system does underlie the covered area.
Las Chinas is located approximately 1,000 meters south of La Soledad and is comprised of a number of historic mine workings that exploited silver bearing quartz-calacite veins. Northair has thus far mapped and sampled 600 metres of this structure. Sampling yielded relatively low silver values with the exception of three rock chips that returned values up to 458 g/t over 0.90 metres. This area is defined by a significant lead-zinc soil anomaly and anomalous gold. The Company plans further sampling and mapping here with the objective of defining drill targets.
Summary:
The work done to date in the southern extension of the La Cigarra structure has demonstrated a robust mineralized system with numerous drill targets. The permissive geology and attractive surface sampling results present a compelling opportunity to expand the known resource. The Company is presently prioritizing target areas for an expected 2013 drilling program.
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.
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.
About International Northair Mines Ltd.
Northair is a mineral exploration company engaged in the acquisition and development of gold and silver properties in Mexico. The Company is currently focused on advancing its La Cigarra silver project located in the state of Chihuahua, which currently hosts a NI 43-101 resource estimate of 50.4 million ounces of silver in the measured & indicated categories grading 76 g/t silver and 3.5 million ounces of silver in the inferred category grading 61 g/t silver constrained by a Whittle pit shell at an economic cutoff grade of 30 g/t silver (assuming metallurgical recoveries of 84% silver). The La Cigarra silver deposit also contains appreciable lead and significant zinc and gold values.
ON BEHALF OF THE BOARD,
INTERNATIONAL NORTHAIR MINES LTD.
"Fred G. Hewett"
____________________________________
Fred G. Hewett, P.Eng.
President & CEO
at 604-687-7545 or 1-888-338-2200
Website: www.northair.com/international/ Email: [email protected]
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.
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.