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Northair Intersects 7.26 metres of 68 g/t silver at La Cigarra's La Boracha Zone, Mexico
International Northair Mines Ltd. (TSXV: INM) (the "Company" or "Northair") is pleased to announce final assay results from the last 4 holes of the drill program recently completed at the La Cigarra silver project, located in north central Mexico. Previous drill results from the San Gregorio and Las Carolinas Zones were released on July 13, 2010 (see INM Press Release #10-10). The phase I drill program, totaling 1,455 metres in 15 reverse circulation drill holes, successfully tested three known mineralized targets on the property. Drill highlights of the program at the La Boracha Zone include a near surface intercept of 7.26 metres of 68.0 g/t silver in Hole CRC-10-13 and an intercept of 7.26 metres of 67.0 g/t silver in Hole CRC-10-15 beginning from surface. Highlights from the San Gregorio and Las Carolinas Zones include near surface intercepts of 32 metres of 132.4 g/t silver in Hole CRC-10-06 and 10.7 metres of 172.5 g/t silver in Hole CRC-10-01.
The program, the first known drilling on the property, was carried out to confirm surface values, expand geological knowledge, and provide a framework to decide upon the future direction of exploration on the property. Drilling intercepted significant widths of altered and mineralized sediments and volcanics and a follow up drilling program is warranted. The Company is currently developing plans for the next stage of exploration to commence at the end of the rainy season. It is anticipated that the program will include further drilling and field work to expand targets on the property.
|*intersected old workings|
|*intersected old workings|
*Holes CRC-10-7 and 8 did not adequately test the mineralized zone due to intersecting old workings.
Please click the link below to view the locations of the Phase 1 drill-holes:
Please click on the link below to view a complete summary of the Company's drill results
Select portions of certain drill holes were analyzed for gold and returned anomalous values. The Company is presently re-assaying the complete CRC-10-11 drill hole for gold because of the initial anomalous values found, and is reviewing additional holes for gold analysis. Gold values contained within Hole CRC-10-11 include an open 4.5 metre intercept of 0.26 g/t gold including 1.5 metres of 0.33 g/t gold. The anomalous gold values could significantly impact the potential economics of the project and further analysis is warranted.
As well, a significant number of the reported intercepts at the La Cigarra Project returned anomalous lead and zinc values, which further strengthens the project's possible geological similarities to the producers of the Parral region. Multi-element geochemical analysis from the drilling has confirmed that La Cigarra hosts classic low sulfidation silver-gold mineralization and associated trace element geochemistry. The silver-lead mineralization correlates strongly with antimony and to a lesser extend with lead, zinc, copper, barium, manganese and arsenic. Further analysis of the drilling data is being undertaken to ascertain zoning relationships between silver and its known associated trace elements; in order to focus further exploration.
The La Cigarra silver project is located in 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 La Cigarra Project hosts a silver-rich, epithermal mineral system that is controlled by a northwest striking fault system that has localized silver (lead, zinc, copper and gold) mineralization hosted in sediments and related to rhyolite dikes and flows. La Cigarra has witnessed limited mining and prospecting with no previous apparent drilling along this northwest striking structural trend. Surface sampling from the Company during 2009 and 2010 was successful in highlighting three mineralized centers, and the recent reverse circulation drill program focused on these zones. Grupo Northair de Mexico, S.A. de C.A., a subsidiary of Northair, can acquire a 100% property ownership by making payments over a 5 year period totaling US$445,000 with no royalties.
The grades from the initial surface sampling reported at La Cigarra appear to be similar in scale to those of the Santa Barbara-San Francisco del Oro sub-districts of Parral that have produced over 440 million ounces of silver. Although La Cigarra has probably had very limited silver production, the Parral Region in total has produced over one billion ounces of silver and over one million ounces of gold, placing it in the top ten silver districts in Mexico.
All technical information for the La Cigarra drill program is obtained and reported under a formal quality assurance and quality control (QA/QC) program. Samples are taken under the direction of qualified geologists and stored in sealed bags. Samples are picked up on site by ALS Chemex Labs and taken to Chihuahua for drying, crushing and pulverizing; with the pulps sent by airfreight to ALS Chemex in Vancouver BC for analysis. Systematic assaying of standards and blanks are performed for precision and accuracy. Analysis for silver, zinc, lead and copper was done by ICP four acid digestion, with selected gold analysis by 30 gram fire assay with an AA finish.
This news release has been prepared in accordance with Canadian regulatory requirements set out in National Instrument 43-101 and reviewed 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"
Fred G. Hewett, P.Eng.
President & CEO
For further information please contact Fred Hewett, President or Chris Curran, Investor Relations
at 604-687-7545 or 1-888-338-2200
Website: www.northair.com/international/ Email: firstname.lastname@example.org
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.