International Millennium Mining Corp.: Drilling at the Nivloc Project Returns Highest Grade Intersection to Date: 1,725 g/t Silver Over 5.5 Feet
North Vancouver, BC: International Millennium Mining Corp. (TSX-V: IMI) (the �Company� or �IMMC�) reports assay results from two additional drill holes at its Nivloc Silver and Gold Project located in southwestern Nevada.
Assays have been received from drill holes 11NL-29 and 11NL-30 (see drill highlights and table below), located in the western part of the Nivloc Vein structure. Both holes were collared from pad 4 and are part of a systematic drilling program designed to test a 1,200 foot long by 800 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.
Four additional holes, 11NL-31 to 11NL-34, have also been completed from pad 4. Drilling will continue after the Christmas break from a new location (pad 6) located in the eastern part of the target area. These additional holes will complete the initial pattern drilling designed to delineate a mineral resource within the area of the existing underground workings. Work will then focus on expanding 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-29:
172.6 feet @ 53.3 g/t Ag and 0.64 g/t Au - Main Nivloc vein, including:
13.5 feet @ 292.3 g/t Ag and 2.46 g/t Au - Main Nivloc vein
Drill Highlights from hole 11NL-30:
196.0 feet @ 98.6 g/t Ag and 0.31 g/t Au - Main Nivloc vein, including:
5.5 feet @ 1,725.0 g/t Ag and 0.16 g/t Au - Main Nivloc vein
Both holes (11NL-29 and 11NL-30) intersected the Nivloc vein system between the 440 and 600 ft levels, in the western portion of the target area, east of the westernmost mine workings. The holes were centered 100 feet apart, and both intersected high grade silver and gold zones within a wide zone of lower grade material. 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-29 |
135 |
-81 |
593.4 � 766.0 |
172.6 |
121.1 |
53.3 |
0.64 |
MNV |
Including |
|
|
593.4 � 609.5 |
16.1 |
11.3 |
109.0 |
2.22 |
MNV |
Also Including |
|
|
752.5 � 766.0 |
13.5 |
9.5 |
292.3 |
2.46 |
MNV |
11NL-30 |
125 |
-75 |
538.0 � 734.0 |
196.0 |
147.0 |
98.6 |
0.31 |
MNV |
Including |
|
|
538.0 � 555.0 |
17.0 |
12.8 |
135.1 |
1.26 |
MNV |
Also Including |
|
|
710.5 � 734.0 |
23.5 |
17.6 |
462.5 |
0.63 |
MNV |
Including |
|
|
710.5 � 716.0 |
5.5 |
4.1 |
1,725.0 |
0.16 |
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 2012 drilling program will be directed beneath and 500 feet west of the most westerly workings, and to the northeast of the main 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 are experiencing at Nivloc, the Company�s plan is to continue drilling throughout 2012 to develop a NI 43-101 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.
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.