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International Northair Mines Ltd. (TSX VENTURE:INM) (the "Company")
is pleased to announce the discovery of high-grade mineralization
within the Company's wholly owned Sierra Rosario Project, which
is currently under option to Sparton Resources
Inc. (TSX VENTURE:SRI) ("Sparton"). The Sierra
Rosario project lies along the western flanks of the Sierra Madre
Occidental geological province in the state of Sinaloa, Mexico
and has been the subject of an ongoing exploration program for
the past three years by Northair and Sparton.
Previous
exploration by Northair and Sparton has outlined
six mineralized zones. The new zone of mineralization, referred
to as "Dulces Nombres", was discovered by ongoing exploration
programs that resumed in the fall of 2007 and were coordinated
by Company staff. A total of 35 chip samples that average 0.71
g/t gold, 263 g/t silver, and 0.35% copper have been taken to
date from the zone. These samples were continuous chip samples,
ranging from 1.0 to 3.0 metres in length. The zone, where mapped,
is up to 8 metres in thickness.
Dulces
Nombres exhibits a style of mineralization previously unrecognized
on the property. Mineralization occurs as low-angle epithermal
breccia zones in andesite volcanics at the contact with overlying
silicified limestone. The mineralization may be related to a high
angle northeast striking structure, where eight chip samples were
taken averaging 1.86 g/t gold, and 114 g/t silver. Caved workings
and historical prospect pits, exhibiting similar mineralization,
have been discovered over an area of approximately 500 x 500 metres
and another area of old workings was located 450 metres northeast
of the Dulces Nombres zone. This area will be further investigated
in the ongoing work program. Northair and Sparton technical staff
believe this new discovery is very significant, and that this
new style of mineralization related to a regional contact zone
could be extensive.
Dulces
Nombres lies approximately 1,200 metres southeast of a previously
defined zone named the San Rafael zone of mineralization. San
Rafael is geologically distinct, with base and precious metal
mineralization at surface occurring in and adjacent to a rhyolite
porphyry intrusion over an area approximately 200 metres long
and 70 metres in width. Twenty-three chip channel samples taken
from this zone by Northair in 2002 averaged 181 g/t silver and
0.32 g/t gold with eight grab samples averaging 200 g/t silver
and 1.79 g/t gold (with a high value of 711 g/t silver and 10.79
g/t gold).
Sparton
is earning a 51% interest in the property from Northair, and the
two companies plan to aggressively explore the project area during
2008 with anticipated programs that include mechanical trenching
and drilling.
The
current phase of the program is being supervised by Mr. Jim Robinson,
Vice President of the Company, who is a Qualified Person as defined
by National Instrument 43-101. Northair maintains a quality control
program using best industry practices consistent with NI 43-101.
Samples were submitted to ALS Chemex Labs in Hermosillo, Mexico,
with gold assayed by a 50-gram digestion with fire assay - AA
finish. Silver and other elements were assayed by aqua regia acid
digestion with ICP finish. Silver samples reporting over 100 ppm
were re-assayed by AA finish.
ON
BEHALF OF THE BOARD,
INTERNATIONAL
NORTHAIR MINES LTD.
Fred
G. Hewett, P.Eng., President & CEO
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 AIF Report
and filings for a more detailed discussion of factors that may
impact expected results.
SOURCE:
International Northair Mines Ltd. |
