DGAP-News: International Minerals - New Drill Results at Inmaculada Project
(firmenpresse) - International Minerals Corp. / Miscellaneous
05.05.2010 00:03
Dissemination of a Corporate News, transmitted by
DGAP - a company of EquityStory AG.
The issuer / publisher is solely responsible for the content of this announcement.
---------------------------------------------------------------------------
International Minerals - New Drill Results at Inmaculada Project
May 4, 2010, Scottsdale, Arizona - International Minerals Corporation
(Toronto and Swiss stock exchanges - 'IMZ' or the 'Company') reports new
drill results from the Angela Vein at the 51%-owned Inmaculada gold-silver
project, located approximately 25km southwest of IMZ's 40%-owned Pallancata
silver mine.
Several high-grade intercepts (estimated true widths) are reported in the
latest drill results, including 3.5 meters ('m') at an average grade of
35.1 grams per tonne ('g/t') gold and 1,364 g/t silver and 3.1m at an
average grade of 27.0 g/t gold and 490 g/t silver.
The new drill results have extended the Angela Vein mineralization for an
additional 500m of strike length from 1,400m (as reported in the January
19, 2010 news release) to more than 1,900m, with a vertical extent of up to
300m (see Appendix 2; http://www.intlminerals.com/release.php?R_ID=201).
Mineralization remains open along strike to the northeast.
Assay results for all 47 core drill holes totaling 13,910m (Inma 88-134)
are summarized in Appendix 1
(http://www.intlminerals.com/release.php?R_ID=201) and shown on the long
section in Appendix 2 (http://www.intlminerals.com/release.php?R_ID=201.
Assay results for 26 core drill holes totaling 9,499m (Inma 62-87) were
previously reported in the January 19, 2010 news release.
Highlights of drill results from the 47 drill holes (all representing
estimated true widths and average uncut grades) include:
* 3.5m at 35.1 g/t gold and 1,364 g/t silver (drill hole Inma-125)
* 3.1m at 27.0 g/t gold and 490 g/t silver (drill hole Inma-129)
* 5.0m at 19.9 g/t gold and 285 g/t silver (drill hole Inma-132)
* 4.6m at 12.5 g/t gold and 386 g/t silver (drill hole Inma-100)
* 7.0m at 9.2 g/t gold and 208 g/t silver (drill hole Inma-90)
* 12.5m at 6.8 g/t gold and 251 g/t silver (drill hole Inma-122)
The Angela Vein is one of several significant vein systems recognized at
the Inmaculada Project, most of which are relatively under-explored.
In February 2010, an independent National Instrument ('NI') 43-101
compliant mineral resource estimate on the Angela Vein (based on
approximately 25,000m of drilling in 84 core holes) reported both indicated
and inferred resources for the Angela vein, at a 3 g/t gold-equivalent
cut-off grade (assuming a 60:1 silver to gold ratio), as follows:
* Indicated Resources: 1,238,000 Tonnes at 3.9 g/t gold and 122 g/t silver
containing approximately 154,000 ounces of gold and 4.9 million ounces of
silver (100% project basis)
* Inferred Resources: 4,686,000 Tonnes at 3.4 g/t gold and 147 g/t silver
containing approximately 512,000 ounces of gold and 22.1 million ounces of
silver (100% project basis)
An updated mineral resource estimate for the Angela Vein is expected to be
completed by IMZ by the end of the second calendar quarter of 2010.
Feasibility Study Update
Three core rigs have been drilling on-site at Inmaculada for several months
and are planned to continue drilling throughout 2010, with the intention of
expanding and upgrading the resource estimate to support completionof a
feasibility study, including a mineral reserve estimate, by the end of
2011.
IMZ currently owns a 51% interest in Inmaculada (and is the project
operator) with Hochschild Mining plc ('Hochschild') owning the remaining
49% interest. IMZ can earn and acquire an additional 19% interest (total
70%) by completing (at its sole cost) a feasibility study by September 2013
and by issuing 200,000 common shares to Hochschild over a 5-year period,
commencing February 2011. IMZ estimates that the feasibility study will
cost approximately US$7-8 million.
Metallurgical testwork is ongoing. Preliminary results to date suggest that
the Inmaculada mineralization could be treatable by conventional processing
techniques with good metal recoveries.
General
Sample preparation and analytical work for the Inmaculada drilling program
were carried out by SGS Mineral Services in Lima, Peru using
industry-standard sampling practices and analytical methods for silver and
gold. As part of IMZ's QA/QC protocol, standard samples and blanks were
inserted into the sample processing stream at a rate of one per 10 samples.
Duplicate and alternate laboratory check samples also form part of this
sampling protocol. The technical disclosure including drill results in this
news release were reviewed by IMZ's Qualified Person, Exploration Manager,
Mark Cannuli.
The previous Angela Vein mineral resource estimate was classified as
indicated and inferred in accordance with CIM guidelines, as required by NI
43-101, by FSS Canada's Qualified Person R. Mohan Srivastava (P.Geo.). The
estimate has an effective date of February 3, 2010.
A March 2009 technical report on the Inmaculada Project, providing
additional information about the current mineral resource estimate,
mineralization, geology and exploration drilling program at the Angela Vein
is available on IMZ's web site at www.intlminerals.com.
About International Minerals
International Minerals is a silver-gold producer, explorer and developer
with silver-gold production from its 40%-owned Pallancata Mine, one of the
top-10 primary silver mines in the world. Production of approximately 10
million ounces of silver and 33,000 ounces of gold (on a 100% project
basis) is estimated by IMZ in 2010.
In addition to the Pallancata Mine and the Inmaculada Project, IMZ also
holds a majority or 100% ownership interests in development stage gold
projects in Nevada (Goldfield and Converse) and Ecuador (Rio Blanco and
Gaby). IMZ also receives a 3% net smelter return royalty from Barrick
Gold's Ruby Hill gold mine in Nevada, which produced approximately 100,000
gold ounces in 2009.
IMZ is listed on the Toronto Stock Exchange (since 1994) and the Swiss
Stock Exchange (since 2002).
Hochschild Mining plc does not accept any responsibility for the adequacy
or inadequacy of the disclosure made in this news release and any such
responsibility is hereby disclaimed in all respects.
For additional information, contact:
In North America:
Paul Durham, Vice President Corporate Relations
Tel: (203) 940 2538
In Europe:
Oliver Holzer, Marketing Consultant
+41 (0) 44 854 11 39
Or email us at:
IR(at)intlminerals.com
Internet Site: http://www.intlminerals.com
Cautionary Statement:
Some of the statements contained in this release are 'forward-looking
statements' within the meaning of Canadian securities law requirements.
Such forward-looking statements involve known and unknown risks,
uncertainties and other factors that may cause our actual results,
performance or achievements to differ materially from the anticipated
results, performance or achievements expressed or implied by such
forward-looking statements. Forward-looking statements in this release
include statements regarding estimates of timing of resource estimate,
feasibility studies and metal production. Factors that could cause actual
results to differ materially from anticipated results include risks and
uncertainties such as: risks in maintaining production and processing
rates, risks of cost escalation, risks of estimating mineral resources and
reserves, variances between mineral reserves and actual mineral production
,delays in completing planned exploration programs and feasibility studies,
and other risks and uncertainties detailed in the Company's Renewal Annual
Information Form for the year ended June 30, 2009, which is available at
www.sedar.com under the Company's name. The Company disclaims any intention
or obligation to update or revise any forward-looking statements, whether
as a result of new information, future events or otherwise.
05.05.2010 00:03 Ad hoc announcement, Financial News and Media Release distributed by DGAP. Medienarchiv atwww.dgap-medientreff.deandwww.dgap.de---------------------------------------------------------------------------
Language: English
Company: International Minerals Corp.
7950 East Acoma Street
AZ 85260 Scottdale
Vereinigte Staaten von Amerika
Phone: 001 480 483 9932
Fax: 001 480 483 9926
E-mail: IR(at)intlminerals.com
Internet: www.intlminerals.com
ISIN: CA4598751002
WKN: 893760
Listed: Freiverkehr in Berlin, München; Open Market in Frankfurt;
Foreign Exchange(s) Toronto, SIX
End of News DGAP News-Service
---------------------------------------------------------------------------
Datum: 05.05.2010 - 00:03 Uhr
Sprache: Deutsch
News-ID 20255
Anzahl Zeichen: 0
contact information:
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 191 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"DGAP-News: International Minerals - New Drill Results at Inmaculada Project"
steht unter der journalistisch-redaktionellen Verantwortung von
International Minerals Corp. (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
