International Northair Provides Exploration Update at La Cigarra Project, Mexico; Shares Up 17% Mid-Morning
International Northair Mines Ltd. (INM.V) has provided an update on current exploration activities underway at its La Cigarra silver project in north central Mexico.
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 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.
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