Northair Silver Corp. (TSXV: INM) (the "Company" or "Northair") is pleased to announce that a third phase of metallurgical test work is scheduled to start in February on its La Cigarra silver project, located in Chihuahua State Mexico.
This latest round of metallurgical test work follows the Company's successful 2014 drill program, and updated mineral resource estimate, which resulted in an increase of 17% in total ounces of silver and a 14% increase in grade from the 2013 Resource Estimate (see Northair Press Release #15-01, dated January 14th, 2015). The Company will collect samples for the test work from drill core in the San Gregorio and Las Carolinas zones, which currently comprise the mineral resource. The test work will focus on sulphide and oxide ore types and is a follow-up of a flotation-leach process developed in 2011 and 2012 for the San Gregorio Zone. Upcoming tests will also include the evaluation of zinc recovery options. In addition, the work will incorporate some variability testing and preliminary environmental characterization and will be sufficient to support a PEA level study.
The metallurgical program will be conducted by Base Metallurgical Laboratories Ltd. of Kamloops, BC. Terra Mineralogical Services of Peterborough, ON was selected to conduct further mineralogical assessment of the La Cigarra ores. The metallurgical and mineralogical work will be conducted under the supervision of Mr. Hoe Teh, P.Eng, a Qualified Person as defined by NI 43-101. Mr. Teh has reviewed this news release and agreed to its contents.
Northair also announces that it has granted 1,100,000 stock options exercisable at a price of CDN $0.08 per common share to certain officers and employees in recognition of recent milestones achieved through the completion of the 2014 resource drilling program and subsequent updated mineral resource estimate. All options are exercisable for a period of five years from the date of grant.
About Northair Silver Corp.
Northair is focused on advancing its flagship La Cigarra silver project located in the state of Chihuahua, Mexico, 26 kilometres from the historic silver mining city of Parral. The 32,000 hectare property boasts nearby power, good road access, gentle topography, established infrastructure. Exploration on the property has defined a robust NI 43-101 compliant Mineral Resource that contains appreciable amounts of silver, lead, zinc and gold.
ON BEHALF OF THE BOARD,
NORTHAIR SILVER CORP.
Andrea Zaradic, P. Eng.
President & CEO
For further information please contact Andrea Zaradic, President & CEO or
Chris Curran, Manager of Corporate Communications at 604-687-7545 or 1-888-338-2200
Website: www.northairsilver.com 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.
Caution Concerning Forward-Looking Statements
This news release may contain forward looking statements which are statements that are not statements of historical fact, such as statements regarding the mineral resource estimates, results of the sensitivity analysis, anticipated production or results, sales, revenues, costs, or discussions of goals and exploration results, and involve 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, mineral 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.
Cautionary Note Concerning Estimates of Measured, Indicated and Inferred Mineral Resources
This news release uses the terms "Measured and Indicated Resources" and "Inferred Resources", which have a great amount of uncertainty as to their existence, and great uncertainty as to their economic feasibility. It cannot be assumed that all or any part of a Measured and Indicated and/or Inferred Mineral Resource will ever be upgraded to a higher category. Under Canadian rules, estimates of Inferred Resources may not form the basis of feasibility or other economic studies. Northair advises U.S. investors that while this term is recognized and required by Canadian regulations, the U.S. Securities and Exchange Commission does not recognize it. U.S. investors are cautioned not to assume that part or all of a Measured, Indicated and Inferred resource exists, or is economically or legally minable.
Original Article: http://www.northairsilver.com/s/news.asp?ReportID=692310