The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Globe Investor

News Sources

Take control of your investments with the latest investing news and analysis

Press release from Marketwire

Northair Provides Exploration Update at La Cigarra Project, Mexico

Tuesday, December 18, 2012

Northair Provides Exploration Update at La Cigarra Project, Mexico07:30 EST Tuesday, December 18, 2012VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 18, 2012) -International Northair Mines Ltd. (TSX VENTURE:INM) (the "Company" or "Northair") is pleased to provide an update on current exploration activities underway at its La Cigarra silver project ("Property"), located in north central Mexico.As previously announced on November 13, 2012, Northair expanded its core drill program at La Cigarra to follow up higher grade zones identified during its initial 20,000 metre drill program. Since drilling recommenced, the Company has completed approximately 3,650 meters in 20 holes with one more planned before the Christmas break. Drilling is focused on down dip projections of known silver mineralization at San Gregorio and local infill drilling at Las Carolinas. The drilling will provide important deposit information to aid in the Company's initial resource estimate scheduled for completion in Q1 2013. Results from the most recent drill holes will be announced in the New Year.In addition to the drill program, the Company currently has several geological crews conducting geological mapping, soil, rock and stream sediment sampling on a number of target locations within the recently enlarged La Cigarra concession package. One priority is on the southern extension of the Las Carolinas Zone, where prospecting and rock sampling has extended known silver bearing quartz veining and stockwork upwards of three (3) kilometres. This trend includes the Las Venadas Zone, (situated 500 metres south of Las Carolinas). This target area has returned important silver values over an area of approximately 230 metres by 90 metres, including a rock chip sample returning 2.5 metres of 233.0 g/t silver. The Company is utilizing incoming data to define and prioritize targets for more detailed exploration work including drilling. Full results from the mapping and sampling will be published in the first quarter of 2013.About the La Cigarra Silver ProjectThe La Cigarra Project is located in the state of Chihuahua along the eastern fringes of the Sierra Madre Occidental in Mexico. Local topography is gentle with good road access to the major city of Parral, located 26 kilometres to the south east. The 32,064 hectare property position controls an emerging mineral district with permissive geology and numerous historical mine workings.This news release has been prepared in accordance with Canadian regulatory requirements set out in National Instrument 43-101 and approved by Fred Hewett the Company's President and CEO, and a Qualified Person under NI 43-101.ON BEHALF OF THE BOARD,INTERNATIONAL NORTHAIR MINES LTD.Fred G. Hewett, P.Eng., President & CEOThis news release may contain forward looking statements which are not historical facts, such as ore reserve estimates, anticipated production or results, sales, revenues, costs, or discussions of goals and exploration results, and involves a number of risks and uncertainties that could cause actual results to differ materially from those projected. These risks and uncertainties include, but are not limited to, metal price volatility, volatility of metals production, project development, ore reserve estimates, future anticipated reserves and cost engineering estimate risks, geological factors and exploration results. See Northair's filings for a more detailed discussion of factors that may impact expected results.This news release does not constitute an offer to sell or solicitation of an offer to sell any securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.FOR FURTHER INFORMATION PLEASE CONTACT: 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 news release. Contact Information: International Northair Mines Ltd.Fred HewettPresident604-687-7545 or 1-888-338-2200International Northair Mines Ltd.Chris CurranManager of Corporate Communications604-687-7545 or 1-888-338-2200International Northair Mines Ltd.Brent LevenstadtInvestor Relations Associate604-687-7545 or 1-888-338-2200604-689-5041 (FAX)info@northair.comwww.northair.com/international/