VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sept. 16, 2013) - International Northair Mines Ltd. (TSX VENTURE:INM) ("Northair" or the "Company") announces that Focus Ventures Ltd. (TSX VENTURE:FCV) ("Focus") has terminated its option to acquire an interest in the Company's El Reventon silver-gold property ("El Reventon" or the "Property"), located in the State of Durango, Mexico.
Work on the Property by Focus included a review and re-evaluation of all previous data, surface sampling and diamond drilling. Focus had originally planned to carry out a 2,000 metre diamond drill program on the Property to test several targets, however party due to mechanical problems with the contracted drill equipment only approximately 500 metres in two holes were completed at the Estrella and Chicle zones. However, Focus' drilling did successfully encounter high-grade silver mineralization at depth in both holes. The most significant intersections found within the two holes were 2 metres of 305 g/t silver, which included 0.3 g/t gold from 239.6 metres down-hole at the Chicle Zone and 2 metres of 115 g/t silver from 188 metres down-hole at the Estrella Zone.
Focus' drill program was unable to test the Reventon Breccia Zone, where previous drilling by Northair in 2007 and 2008 returned significant intercepts of silver, zinc and lead within the majority of the completed holes, which included 155.4 metres of 71.3 g/t silver, 0.46% lead and 0.61% zinc from hole RC-08-08 and 22.9 metres of 287 g/t silver, 1.39% lead and 3.48% zinc from hole RC-08-13.
Northair now holds a 100% interest in the El Reventon silver-gold property, which consists of 3,370 hectares. The Property includes a 100% interest in the 60 hectare internal concession covering the Reventon Breccia, which was previously covered by an option agreement prior to Focus completing payments to the property owner as per the agreement with Northair. The El Reventon Property was acquired by Northair in 2006 and subsequent exploration by the Company identified numerous precious metal occurrences throughout the Property including the Reventon Breccia.
Northair appreciates the professional work that Focus completed on its El Reventon Project and will assess the results of their exploration program before deciding how to move the Property forward.
Sampling Quality Analysis and Quality Control
Core was first split in half using a diamond core splitter and then logged, and each box photographed prior to sampling. Half-core samples were bagged, security-sealed and transported by Inspectorate to their laboratories in Durango for preparation and shipping of pulps to Reno for analysis. Silver was determined by multi-acid digestion and ICP-AES, with fire assay gravimetric finish. Gold was assayed by Atomic Adsorption Spectrometry with fire assay gravimetric finish. Quality control by Oro Pacific involved the insertion of blind certified standards and blanks into the sample stream at regular intervals in order to independently assess analytical precision and accuracy of each batch of samples as they are received from the laboratory.
The scientific and technical information reported in this release was prepared under the supervision of Mr. David Cass, Focus's President, who is a member of the Association of Professional Engineers and Geoscientists of British Columbia, and a Qualified Person in accordance with NI 43-101.
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.
About International Northair Mines Ltd.
Northair is a mineral exploration company engaged in the acquisition and development of gold and silver properties in Mexico. International Northair Mines Ltd.is focused on advancing its La Cigarra silver project located in the state of Chihuahua, which currently hosts a NI 43-101 resource estimate of 50.4 million ounces of silver in the measured & indicated categories grading 76 g/t silver and 3.5 million ounces of silver in the inferred category grading 61 g/t silver constrained by a Whittle pit shell at an economic cutoff grade of 30 g/t silver (assuming metallurgical recoveries of 84% silver). The La Cigarra silver deposit also contains appreciable amounts of lead, zinc and gold.
ON BEHALF OF THE BOARD,
INTERNATIONAL NORTHAIR MINES LTD.
Fred G. Hewett, P.Eng. President & CEO
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.
This 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.
- Commodity Markets
604-687-7545 or 1-888-338-2200
International Northair Mines Ltd.
Manager of Corporate Communications
604-687-7545 or 1-888-338-2200