International Northair Mines Ltd. (TSXV: INM) (“Northair” or the “Company”) is pleased to report that a core drill program has commenced at its Sierra Rosario silver/gold project (the “Property”), located in Sinaloa State, Mexico.
The drill program, the first to be conducted by the Company at the San Rafael Zone, will total approximately 1,400 metres in six holes and is designed to test a 600 meter length of a coincident Induced Polarization (“IP”) geophysical and silver/gold geochemical soil anomaly. The program will be managed by Northair, the Operator of the Project, with the support of its 50% partner American Consolidated Minerals Corp (“American Consolidated”).
Sierra Rosario Background / Geology
During the first quarter of this year, Northair and American Consolidated established 20 line kilometres of cut grid lines over two thirds of the Property. Utilizing this grid, the Property was geologically mapped and soil sampled at 25 meter intervals with IP and ground magnetic geophysical surveys carried out. This work was centred upon the San Raphael gossan zone where initial trenching and rock sampling by Northair returned an average value of 181 g/t silver and 0.32 g/t gold from 23 chip channel samples averaging five metres in length. Results of the current exploration programs identified a coincident IP geophysical and a silver-gold-arsenic-lead soil anomaly measuring 1,400 metres in length that remains open to the south and south east where it is over 1,300 metres wide. Based on these positive results the Company will expand its geochemical sampling grid to the east to establish the ultimate size of the potentially mineralized target.
The Sierra Rosario Property is underlain by Jurassic andesite and greywacke which in turn are overlain by gently north dipping ridge forming Cretaceous limestones and interbeded calcareous siltstones, all intruded by Tertiary granodiorite and diorite. Overlying the northernmost portions of the property are Tertiary andesites capped by rhyolite. Since January of 2012, work has concentrated on the San Raphael Zone where quartz veins and stockwork carrying significant values of silver and gold were initially noted in a small exposure of granodiorite intruding Cretaceous limestone and calcareous siltstones. The subsequent recent program has defined coincident anomalies that extend from this granodiorite plug at least 1400 meters to the southeast in an area mapped as Cretaceous limestone with calcareous siltstone. The geochemical anomalies also extend in a northerly direction to the contact with the overlying Tertiary andesite suggesting these younger rocks post-date the silver and gold mineralization.
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 has successfully staked and acquired a number of
early stage projects that offer opportunities for significant discoveries, which includes the Sierra
Rosario Project. As well, Northair is currently drilling its La Cigarra silver project in the state
of Chihuahua in order to complete an initial resource calculation by Q3 2012. A third project in
Mexico, the El Reventon silver project, is currently optioned to Focus Ventures Ltd, who is
committed to spend a minimum of USD$250,000 by April 2013.
ON BEHALF OF THE BOARD,
INTERNATIONAL NORTHAIR MINES LTD.
“Fred G. Hewett”
Fred G. Hewett, P.Eng.
President & CEO
Communications or Brent Levenstadt, Investor Relations Associate
at 604-687-7545 or 1-888-338-2200