International Northair Mines Ltd. (TSXV: INM) (the “Company” or “Northair”) is pleased to announce assay results from 3 core holes completed in the La Borracha Zone at its La Cigarra silver project (“Property”), located in north central Mexico. La Borracha is the northernmost known segment of the La Cigarra mineral system, located 200 meters northwest of the main San Gregorio and Las Carolinas target areas where drilling has identified a significant mineralized zone measuring over 2,000 metres in length and upwards of 150 meters wide. The combined San Gregorio-Las Carolinas zone is the current focus of an initial resource determination scheduled for Q4 2012.
“The latest results at La Borracha are very positive, as all three recent core holes encountered longer intervals of higher grade silver mineralization than previously identified within this zone,” said Fred Hewett, President & CEO of Northair. “Rock types and mineralogy encountered at La Borracha are comparable to San Gregorio and Las Carolinas, and represent a large area of potentially economic mineralization.”
Drill Highlights from the La Borracha Zone:
- Hole CC-12-089 intercepted 13.50 metres of 30.2g/t silver, 9.75 metres of 54.3 g/t silver and 9.00 metres of 33.0 g/t;
- Hole CC-12-091 intercepted 7.50 metres of 48.0 g/t silver, 9.00 metres of 48.7 g/t silver and 6.00 metres of 25.6 g/t silver;
- Hole CC-12-093 intercepted 4.50 metres of 166.2 g/t silver and 11.20 metres of 17.1 g/t silver;
To view the site plan of the La Borracha Zone please click on the following link:
La Borracha Zone
Note 1: Reported widths may contain intervals with values less than 10g/t silver.To view the comprehensive results of all the drill holes completed to date on the La Cigarra Project please click the link: http://www.internationalnorthair.com/i/pdf/2012-08-21-Drill_Hole_Interval_Comprehensive.pdf
Note 2: Intervals also contain lead and zinc values.
Northair has now completed its planned drill program at La Cigarra with drilling scheduled to recommence in the fall after the rainy season. Since the start of drilling in 2009, the Company has completed over 22,000 metres including 15 reverse circulation holes (1,455 metres) and 118 core holes (20,660 metres). Northair has thus far reported the results of all 15 reverse circulation holes and 86 of 118 core holes with all of these holes intercepting appreciable mineralization over significant widths. Assays for the remaining 32 core holes (all completed within the San Gregorio and Las Carolina zones) will be reported once results are received and interpreted.
The Company also announces that it has entered into an agreement with Condire Investor LLC, a related party for planning and advisory services at a fee of $24,000 per month. Under the terms of the agreement the contract may be cancelled with 30 days written notice.
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.
About the La Cigarra Silver Project
The La Cigarra Project is located in the 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.
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”
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.