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NWM Mining Corp.

Publié le 01 décembre 2010

NWM Drills 15 Meters of 1.082 g/t Au, 18.88 g/t Ag and 0.401% Cu at Lluvia de Oro

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NMW Mining Corp. is now listed and trading on the Frankfurt Stock Exchange - Frankfurter Wertpapierboerse - under Ticker: 55C with the WKN: A0Q57P and ISIN Code: CA62946X1042 

 

NWM Drills 15 Meters of 1.082 g/t Au, 18.88 g/t Ag and 0.401% Cu at Lluvia de Oro

TSX Venture Exchange - Symbol: NWM - Shares Outstanding: 304,131,093

Toronto, ON - NWM Mining Corporation (the �Company� TSX-V: NWM) is pleased to announce additional drilling results from the on-going 2010 drilling program at the Company�s wholly owned Lluvia-Jojoba project, located in northern Sonora, Mexico. The Company has received and reviewed the results of an additional 27 core drill holes completed at Lluvia de Oro since the drill results reported July 20, 2010. These new data include core drill holes L10-017 through L10-043, which were drilled primarily to the northeast and southeast of the Creston Pit.

Results of current exploration drilling are expected to add new mineral resources and mineable reserves to the sum of resources and reserves reported in Company�s NI 43-101 report of July 8, 2010. Using a cut-off grade of 0.2 g/t gold and $900 per ounce gold price, the combined Mineral Reserves for the Lluvia-Jojoba project currently stand at Proven plus Probable Reserves of 19,537,925 tonnes, grading 0.612 grams per tonne gold, for a total 384,361 ounces gold. The Mineral Reserves are contained within a global Measured plus Indicated (M+I) Resource base of 23.8 million tonnes at a grade of 0.591 g Au/t, aggregating 452,456 ounces gold. Inferred resources of 10.2 million tonnes at 0.516 g Au/t are not included in the above figures, but converting these to higher resource categories constitutes one of the objectives of 2010 drilling.

Northeast Pit Extension

NE Pit Extension is a partially defined zone of gold-silver mineralization with minor copper that extends from the northern edge of the Creston Pit for 860 meters to the northeast. Mineralization exists primarily in fractures within fine grained clastic sediments in the upper plate of a detachment fault system. Upper plate lithologies occur in a trough-like wedge of rocks that thickens from approximately 50 to 60 meters thick in the Northeast Pit Extension area to in excess of 300 meters thick in the southwest part of Creston Pit.

Drilling in the NE Pit Extension was directed primarily at redefining existing inferred grade blocks, based on previous drilling where drill lines were 93 to 100 meters apart. The following table summarizes these results of these drill holes which better defines the distribution of known gold-silver-copper mineralization along the northern part of the NE-SW trending Lluvia Shear. All intercept lengths represent vertical widths, which are considered to be true widths of mineralization.

http://www.nwmcorp.ca/wp-content/uploads/2010/12/chart1.jpg

Central Creston Pit

Two drill holes were drilled in the central Creston Pit to delineate a zone of intense chlorite alteration with associated gold-silver-copper mineralization. Surface expressions of the chlorite altered rock exhibit unoxidized sulfide mineralization in the central portion of Creston Pit. The zone of interest is subject to near-term mining, but due to its variable sulfide content, it will be stockpiled in-part, for special treatment to recover the relatively high-grade metal values. Drill logs for hole L10-042 indicate that the top 32 meters on the east side of the 51.4 meter intercept will be dominantly oxide material suitable for near-term leaching.

http://www.nwmcorp.ca/wp-content/uploads/2010/12/chart2.jpg

Hole L10-043, also drilled through the chlorite-sulfide zone, indicates that the western zone of interest is dominated by sulfide mineralization over the entire width of 21.7 meters and will be stockpiled for future treatment. All intercepts are vertical thickness of inclined drill holes, representing true widths of mineralization.

Southeast Lobe

Drilling in the Southeast Lobe (SEL) of Creston Pit encountered substantially greater copper�silver mineralization than observed in the central Creston Pit and the NE Pit Extension. Due to increased thickness of lithologies in the upper plate of the detachment fault, the vertical range of mineralization is greater in the SEL than defined elsewhere in the Lluvia de Oro deposit.

http://www.nwmcorp.ca/wp-content/uploads/2010/12/chart3.jpg

Igneous lithologies not previously observed at Lluvia have been encountered in the SEL drilling. In drill hole L10-033, a thin intercept of quartz-feldspar porphyry was encountered at 196.0 to 203.5 meters. A similar intercept was encountered between 215.5 to 224.5 meters in hole L10-035 with thicker intercepts in holes L10-036 through L10-041. The quartz-feldspar porphyry, interpreted to be a sub-volcanic igneous rock with exotic rock fragments situated between the detachment fault and overlying clastic sediments, exhibits several percent disseminated sulfides with intense sericite alteration. This lithology is the first lithology found at the property with these mineralization characteristics. A variably thick zone of high copper-silver mineralization often occurs near the contact with this lithology, indicating a possible genetic relationship to mineralization.

Other Drill Results

Three condemnation holes (L10-026, -027, and -028) were drilled in the area of the polvorines (explosives magazines) to confirm the absence of mineralization. Results of the drill holes in that area confirmed the absence of mineralization under the polvorines. Three other drill holes (L10-018, -019, and -020) were drilled on the edge of the mineralization defined for the NE Pit Extension area; these holes did not return significant assay results.

The southwest portion of Creston Pit was explored to test for mineralization below a series of angle drill holes that returned favourable mineralization in the central part of Creston Pit. Those holes (L10-029, -030, and -034) did not encounter new mineralization, and appear to constrain the known mineralization, at that location and to the depths tested, in the direction of the waste storage areas and leach pads.

The Company is also pleased to announce that the second phase of reverse-circulation (RC) drilling, consisting of 2,000 meters, has been undertaken on the Lluvia de Oro project. This drilling is intended to complement the core drilling program which will continue throughout the remainder of this year. Phase Two of the RC drilling is concentrated in the NE Pit Extension and is intended as in-fill drilling to supplement the core drilling in converting inferred resources to higher quantifiable resource categories. This drilling includes both angle and vertical drill holes ranging from 100 to 150 meters depth. Results of the RC drilling program are expected to be reported in mid-December. An update of NWM Mining Corporation�s mineral resources for Lluvia de Oro as a result of the drilling is under review by the Company�s in-house consultants.

Sample QA/QC

NWM Mining Corp. strives to procure high quality sample information from its operations. The Company�s Qualified Person designed and oversees sample handling, field preparation and quality control procedures, which start at the drill. The tops and bottoms of core boxes are marked to ensure core is laid in the proper order and when broken by the core handlers to fit into the core trays, the break points are clearly marked. Core is removed from the drill daily and stored in a locked container until processed. The core is measured and logged in detail by experienced geologists, marked for sampling, split by core saw or percussion splitter and � of each sample interval bagged, secured with safety ties, and stored under chain of custody procedures until shipped by commercial carrier to the processing lab. ALS-Chemex, an ISO 9001:2000 certified laboratory, receives the samples and prepares them at their Hermosillo, Sonora facility. Core samples are dried, fine-crushed to nominal 2mm size, with 250 gram homogenized pulps prepared for shipment to the ALS analytical lab in Nevada or Vancouver, Canada. Pulverized pulps are analyzed by 50 gram fire assay with AA finish. A 15 gram sub sample is analyzed by 43-element ICP methods to provide a broad range of geochemical information for analysis. Certified sample standards (every twenty) from WCM Minerals of Burnaby, BC Canada and sample blanks are included in the sample suite. Analytical data is returned to the QP by e-mail attachment and the data is checked for consistency and recorded.

Mr. Rodney A. Blakestad, C.P.G., is the designated Qualified Person pursuant to National Instrument 43-101 of the Canadian Securities Administrators for this press release and has reviewed and approved the technical and scientific disclosure contained herein.


Please e-mail NWM Mining or telephone us at 416-364-6799 for more information.


The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.


 

 

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NWM Mining Corp.

PRODUCTEUR
CODE : COL.V
ISIN : CA62946X1042
CUSIP : 197801103
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MWN Mining est une société développant des projet miniers d'or basée au Canada.

MWN Mining détient divers projets d'exploration au Mexique.

Son principal projet en production est LLUVIA DE ORO au Mexique et ses principaux projets en exploration sont NORTH SONORA, CAMPAMENTO MEXICO et LLUVIA JOJOBA au Mexique.

MWN Mining est cotée au Canada et aux Etats-Unis D'Amerique. Sa capitalisation boursière aujourd'hui est 1,5 millions CA$ (1,2 millions US$, 973 367 €).

La valeur de son action a atteint son plus haut niveau récent le 07 juillet 2006 à 0,41 CA$, et son plus bas niveau récent le 01 avril 2020 à 0,01 CA$.

MWN Mining possède 30 110 000 actions en circulation.

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