IMMC Drills 73 Feet of 158 g/t Silver and 1.33 g/t Gold at Nivloc
North Vancouver, BC: International Millennium Mining Corp. (TSX-V: IMI) (the �Company� or �IMMC�) reports assay results from three additional drill holes at its Nivloc Silver and Gold Project located in southwestern Nevada.
Assays have been received for drill holes 11NL-26 to 11NL-28 (see drill highlights and table below), all designed to expand the mineralized zone on the Nivloc property. All holes from the Company�s drilling program have been collared on four drill pads and are oriented to systematically test a 1,200 foot long by 600 foot vertical, un-mined zone within the Nivloc Mine. This target zone, which is crossed by access/haulage drifts that were developed on four levels while the mine was in production, lies between two partially mined areas exploited by Desert Silver between 1937 and 1942.
Of the recently completed drill holes, hole 11NL-26 was the last hole drilled from pad 1 in the eastern portion of the target zone, and 11NL-27 & 11NL-28 were drilled from pad 4 in the western part of the zone. Four additional holes, 11NL-29 to 11NL-32, have also been completed from pad 4 and a fifth hole is in progress. Following completion of the fifth hole, the drill will be moved to a new pad further to the west to test new areas beneath and to the west of the old workings. The IMMC drilling program at Nivloc continues to expand the mineralized zone, which remains open at depth and along strike to both the northeast and southwest.
All holes continue to intersect high grade lenses enclosed by wider zones of lower grade material. Highlights include:
Drill Highlights from hole 11NL-26:
109.0 feet @ 78.0 g/t Ag and 0.37 g/t Au - Main Nivloc vein
8.0 feet @ 266.0 g/t Ag and 1.14 g/t Au - Main Nivloc vein
Drill Highlight from hole 11NL-27:
18.2 feet @ 84.0 g/t Ag and 0.46 g/t Au - Main Nivloc vein
Drill Highlights from hole 11NL-28:
73.0 feet @ 157.8 g/t Ag and 1.33 g/t Au - Main Nivloc vein
6.5 feet @ 244.8 g/t Ag and 5.06 g/t Au - Main Nivloc vein
9.0 feet @ 352.7 g/t Ag and 2.53 g/t Au - Main Nivloc vein
Drill hole 11NL-26 intersected the Nivloc vein system between the 700 and 800 ft levels, in the eastern portion of the target area below the old mine workings. Drill hole 11NL-27 was drilled between surface and the 440 ft level in the western part of the target area and was designed to test a geological cross-cutting feature postulated in this part of the vein system. This hole intersected two zones of lower grade mineralization and has yet to be fully evaluated. Additional core sampling of hole 11NL-27 is planned. Hole 11NL-28 was also drilled in the western part of the target area, directly below Hole 11NL 27, between the 600 and 700 ft levels. The level numbers referred to above, along with distances from other hole intercepts, are deemed to be approximate.
Drill Hole Results
Hole No.*** |
AZo |
Dipo |
Interval (ft) |
Width (ft) (drill) |
Width (ft) (estimated true)* |
Ag (g/t) |
Au (g/t) |
Vein Description** |
11NL-26 |
150 |
-63 |
927.0 - 1036.0 |
109.0 |
85.3 |
78.0 |
0.37 |
MNV |
Including |
|
|
929.5 - 942.0 |
12.5 |
9.8 |
139.6 |
1.02 |
MNV |
Also Including |
|
|
1017.0 - 1025.0 |
8.0 |
6.3 |
266.4 |
1.14 |
MNV |
11NL-27 |
144 |
-66 |
433.0 - 451.2 |
18.2 |
15.8 |
84.0 |
0.46 |
MNV (upper) |
Including |
|
|
433.0 - 439.7 |
6.7 |
5.8 |
201.0 |
0.72 |
MNV (upper) |
1NL-28 |
143 |
-88 |
842.0 - 915.0 |
73.0 |
47.9 |
157.8 |
1.33 |
MNV |
Including |
|
|
842.0 - 848.5 |
6.5 |
4.3 |
244.8 |
5.06 |
MNV |
Including |
|
|
846.5 - 848.5 |
2.0 |
1.3 |
395.0 |
11.55 |
MNV |
Also Including |
|
|
902.0 - 911.0 |
9.0 |
5.9 |
352.7 |
2.53 |
MNV |
Including |
|
|
907.0 - 911.0 |
4.0 |
2.6 |
431.0 |
2.70 |
MNV |
*Estimated true widths are calculated and may change slightly with additional structural information.
**Main Nivloc Vein (MNV).
***Previous drill hole results are set out in the Company�s prior news releases.
As mentioned above, the current drilling program is focused on a target area that lies between previously mined zones within the northeast-southwest-trending Nivloc vein structure. The exploration target lies between the surface and the existing 800 ft level drift in the old mine workings. The 800 ft mine level is approximately 900 feet vertically below surface, and the vein and workings dip from minus-45 to minus-65 degrees toward the northwest. Previous mining at Nivloc focused on high-grade lenses of ore that were encountered while drifting along the vein structure. The current IMMC drilling program indicates the Nivloc structure ranges from 50 to more than 150 feet wide and contains several parallel vein zones. It appears from available data that only one of these parallel vein zones was exploited by prior mining activity in the 1930s and 1940s. In addition to the potential for high-grade lenses similar to those mined in the past, the material between the lenses is consistently mineralized and the entire structure may have potential as a low-grade, bulk-minable deposit.
Part of the current drilling program will be directed beneath and 500 feet west of the most westerly workings, in order to test the mineralized zone beyond the current target area.
It is stressed that no tonnage or grade estimates have been calculated to date. The current drilling program is designed to generate enough reliable information to outline viable mineralized zones that can be converted to resources in compliance with NI 43-101 standards.
John A. Versfelt, President and Chief Executive Officer of the Company, comments, �With the consistent excellent drill results that we continue to intersect at Nivloc, the Company�s plan is to continue drilling throughout 2012 to develop a NI43-101-resource.�
Thomas L. Evans, PGeo, the Company's qualified person under NI 43-101 in charge of the drilling program, reviewed and approved the technical disclosure of this press release on behalf of the Company.
International Millennium Mining Corp., through its wholly owned subsidiary International Millennium Mining Inc., has an option agreement with Silver Reserve Corp. (SRC), a wholly owned subsidiary of Infrastructure Materials Corp. (OTCBB: IFAM) to acquire an 85% interest in SRC�s 18 claim NL Property, which forms part of the Nivloc Property.
The drill assay intervals were calculated using the weighted average method. Drill core assaying was conducted by ALS Chemex, which is an ISO-certified laboratory. The Company has implemented a quality assurance/quality control program to ensure that sampling and analysis of all samples are conducted in accordance with the best possible practices. The system includes the use of standards, blanks and duplicates to ensure analytical accuracy and the submission of duplicate samples to a second laboratory to verify the integrity of the analytical results.
IMMC Hires Investor Relations Manager
The Company is also pleased to announce that subject to regulatory approval, it has entered into an Investor Relations Agreement with a private company owned by Mr. Kevin Hull, to assist in the implementation of its Investor Relations, Corporate Communications and Media Programs.
The initial term of the Investor Relations Agreement between IMMC and Mr. Hull�s company is for a period of twelve months and thereafter until terminated by either party. Mr. Hull will be granted a 100,000 stock option exercisable at $0.18 per share for a period of two years.
�We are pleased to retain the services of Kevin Hull to assist us with strengthening IMMC�s profile in the investor community. Mr. Hull�s technical skills using social media and his experience within the mining community were primary factors in choosing him to represent IMMC,� stated John Versfelt, President and CEO of International Millennium Mining Corp.
International Millennium Mining Corp. (TSX-V: IMI) is a mineral exploration and development company engaged in acquiring known smaller mine deposits, such as its Nivloc, Nevada silver-gold mine project, in the Americas, with the goal of advancing the properties to the mining stage. Emerging targets include silver, gold, copper, zinc and lead. The Company�s common shares trade on the TSX Venture Exchange under the symbol: IMI and on the Frankfurt Exchange under the symbol: L9J.
ON BEHALF OF THE BOARD
�John A. Versfelt�
John A. Versfelt,
President & CEO
Further information about the Company can be found on the IMMC website (www.immc.ca), on SEDAR (www.sedar.com) or by contacting Ms. Sheri Barton: 403-217-5830 sheribarton@telus.net or Mr. John Versfelt, President & CEO of the Company at 604-984-9907.
* * * * * * *
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 release. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, potential mineral recovery processes and other business transactions timing. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.