INM news
Northair Acquires Additional Mexican Property
International Northair Mines Ltd. (TSXV:INM) is pleased to announce that the Company has acquired an additional property located in the state of Durango, Mexico. The “Las Moras” Project is located in the Sierra Madre Mountains, pproximately 100 kilometers east of Mazatlan, and 120 kilometers southwest of the city of Durango. Las Moras lies in a geologic setting similar to the Company’s El Tesoro property, and has the potential to contain high grade gold as well as bulk tonnage base metal deposits.
Las Moras was identified by Company geologists during Northair’s ongoing generative exploration program. High grade, low sulfidation gold veins have been discovered in limited outcrops. First phase sampling from these gold veins by the Company has reported very encouraging results, with four grab samples averaging 18.39 g/t gold and 7.88 g/t silver. Due to the limited outcrop, true widths and strike lengths of these zones have yet to be determined and a hand trenching program will be initiated shortly. Although there are no known historic mines on the property, numerous small gambusino workings and arrastras have been observed in the area of the high grade veins.
A separate zone of copper-lead-zinc mineralization was discovered by Company geologists during their property examination. The width of the mineralized zone where observed, averages about 30 meters and has been traced on the ground during initial field visits for over 300 meters along strike length, and is open in both directions. Four representative grab samples from this zone averaged 0.35% copper, 0.26% lead, and 0.96% zinc. These results are considered very significant in an oxidized environment.
The Las Moras property is comprised of optioned and wholly owned concessions totaling 450 hectares. Northair has signed an option agreement, subject to due diligence, to acquire 100% of a privately held concession with staged payments totaling US $86,000 over a four year period. There are no royalties. The Company has also staked concessions covering highly prospective ground adjacent to the privately held concession. Detailed exploration of the property will commence in early November with a program of geological mapping, sampling and hand trenching to be followed by mechanical trenching. Project access is good with numerous unimproved old logging roads located in the area.
At the Company’s El Tesoro Project, an exploration program is well underway. Road building, mechanical trenching, sampling and geological mapping are progressing in preparation for a drilling program. As well as the exploration program underway on our El Tesoro Project, and the planned program at Los Moras, the Company is continuing with its aggressive generative exploration program. Currently a number of projects are under review for possible acquisition. The Company is very excited about its opportunities in Mexico and looks forward to providing shareholders with additional information as it becomes available.
ON BEHALF OF THE BOARD,
INTERNATIONAL NORTHAIR MINES LTD.
AI
