NIVLOC MINE PROPERTY NEAR
SILVER PEAK, NEVADA PURCHASED BY INTERNATIONAL MILLENNIUM – SHARES
ISSUED TO SETTLE DEBT
North Vancouver, B.C. –
September 26, 2007 - International Millennium Mining Corp.
(“IMMC” or the “Company”) has, subject to
regulatory acceptance, purchased 100% interest in the Nivloc Silver Mine,
located seven miles southwest of Silver Peak and 170 miles south-southeast
of Reno, in Esmeralda County, Nevada. The property includes three (3)
existing lode claims (the Mine claims”) acquired by purchase from a
private party and six (6) recently staked claims beginning 1,500 ft along
strike to the northeast of the Mine claims, purchased from Western
Geoscience Inc. of Mina, Nevada. The two properties totalling
approximately 180 acres are being purchased for US$75,000 and 110,000
shares.
Thomas L. Evans, P.Geo (Calif) President of
Western Geoscience Inc. reports: The Nivloc Mine was operated between
1937 and 1943 under the name of Desert Silver, Inc. Mining was carried out
via a two compartment vertical shaft to the 600 foot level with an inclined
winze extending to the 900 foot level. Another winze was sunk to the 1,100
foot level. The average grade of ore mined during the 1937 to 1943 period
was reported as 12.8 oz/ton silver (Ag) and 0.05 oz/ton gold (Au). The
mine was forced to close in 1943 due to wartime restrictions but
considerable developed ore reportedly was left behind. The mine is dry and
the ore was of the oxidized variety.
In 1948, the Anaconda Minerals Company sampled
the workings down to the 800 foot level but did no mining or drilling. The
Sunshine Mining Company acquired the property in the mid-1980’s and
completed an Ore Reserve Calculation based primarily on Desert Silver and
Anaconda sample results taken from level plan maps in their possession.
Sunshine Mining, in 1985, drilled 3 core holes that intersected ore reserve
blocks where tonnage, width and grade had been calculated using the old
sample data. Sunshine Mining stated in a January 1, 1987 report that
silver grades fell within 2% in an overall comparison between drill hole
assays and ore reserve block calculations.
Sunshine Mining reported, in a memo dated
January 15, 1987, a (non- NI 43-101 compliant) Calculated Ore Reserve of
621,314 short tons at a grade of 4.5 oz/ton Ag and 0.03 oz/ton Au for a
total of 2,795,913 ounces silver and 18,639 ounces gold. A minimum mining
width of 12 feet was assumed with a 10% dilution factor. Sunshine went on
to state, in the January 1987 memo, that they made the Ore Reserve
Calculation in accordance with standard Sunshine Mining Company practices
as they pertained to the Nivloc Mine, based in part on their experience at
their nearby Sixteen-to-One Silver Mine.
These parameters include: a. All
ore blocks are bounded on at least one side by existing mine workings. b. Maximum block projections have been limited to one-half the
vertical distance between levels. c. The boundaries between
ore blocks have been determined by grade and/or vein width variations. d. The tonnage factor for ore in-place is 12 cubic feet per
ton.
These estimates were made prior to the
implementation of Canadian Securities Administrators' National Instrument
43-101 (NI 43-101), and a qualified person (QP) has not completed
sufficient work to classify these historical estimates as current mineral
resources or reserves. The historical estimates are not NI 43-101
compliant and should not be relied upon.
Geology at Nivloc is reported to consist of
Paleozoic sediments and intrusive rocks, mostly alaskite, overlain by and
in fault contact with Tertiary andesitic and rhyolitic volcanics. The
older rocks are reported to host most of the ore at Nivloc and occur within
a strong 30 to 50 foot wide fissure or shear zone that strikes N50E dipping
60-70 degrees to the northwest. Silver and gold values reportedly are
found in manganese and iron oxide limonite stained quartz-calcite breccia
zones in the shear. Galena, occurring in scattered lenses, is the only
metallic ore sulfide reported. Assay plans indicate that silver and gold
values occur throughout the structural zone with local concentrations of
better grade material.
Significant silver and gold bearing tailings on
the property remain to be evaluated. In their January 15, 1987 memo,
Sunshine Mining discuss the excellent potential for increasing reserves at
Nivloc. They reported that a number of areas remain in the mine where
either nil or limited assay data was found. These areas may contain
mineable reserves not included in the historic reserve estimate. Down-dip
areas below the 900 foot level and areas along strike are virtually
unexplored.
Debt Settlement: Shares to settle debt of
C$28,200 at $0.30 per share, originally announced July 24, 2007, have now
been issued and paid by the Company.
International Millennium Mining Corp. is a
mineral exploration and development company engaged in the acquisition and
exploration of mineral properties in Canada and the Americas. To date the
Company has acquired and is exploring mineral properties in British
Columbia and Ontario, Canada; Nevada, USA; and Sonora State, Mexico.
Emerging mineral targets include silver, gold, cobalt, molybdenum, zinc,
lead, nickel, copper and platinum group metals.
ON BEHALF OF THE BOARD
“John A. Versfelt”
John A. Versfelt
President and CEO
Further information
about the Company can be found on SEDAR (www.sedar.com) or by contacting
Mr. John A. Versfelt, President & CEO of the Company or Mr. D. Alex
Caldwell, Corporate Secretary at 604-984-9907.
The Exchange has
not in any way passed upon the merits of this news 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.
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