Northair Silver Corp. Submits Application for Drilling Permits for La Cigarra Silver Project, Mexico
Provides Update to Continuing Exploration Programs
Northair Silver Corp. (TSXV: INM) (the "Company" or "Northair") is pleased to announce that it has submitted a drill permit application to Mexico's Secretariat of Environment and Natural Resources ("SEMARNAT"), for the next phase of drilling at the Company's La Cigarra silver project located in Chihuahua State, Mexico.
"The Company has identified multiple areas within and adjacent to the known resource where additional drilling has the potential to expand mineralization and we are very excited to drill-test these obvious step-outs. In addition, field activities have identified multiple new discovery areas that have yet to be drilled" said Andrea Zaradic, President and CEO of Northair. "This drilling program is designed to help us achieve our internal goal of realizing +100Moz of silver and will initially focus on targets at La Borracha, the La Colorada North Zone (located on the western flank of the La Cigarra anticline), the central zone between San Gregorio and Las Carolinas (main resource area) and the La Navidad Zone, located approximately 400 metres to the east and southeast of Las Carolinas."
The proposed program is for up to 8,000 meters of reverse-circulation and/or core drilling and is designed to expand the existing mineral resource comprised of 51.47 million ounces of silver in the Measured & Indicated categories grading 86.3 g/t silver. There is an additional 11.46 million ounces of silver in the Inferred category, grading 80 g/t silver. (See INM PR#15-01 dated January 14, 2015). Based on known permitting timelines in Chihuahua, permits are anticipated in Q3 of 2015.
To view a map of the planned drilling within the areas being permitted at the La Cigarra Project, please click on the following link: 2015-05-11_LaCigarraExpansionPlanMap.jpg or view below:
Continuing Exploration Programs at La Cigarra:
While waiting on drill permits, Northair will continue its property wide exploration programs. Field work currently underway includes geologic mapping and rock chip sampling within the La Colorada and Nogalera areas with work also planned on other known but less advanced silver targets proximal to the current La Cigarra Resource.
The airborne geophysical survey announced previously (see INM PR#14-05, dated March 31, 2015) has been completed and the Company is currently processing and interpreting results. This incoming data is expected to support results from ongoing exploration work. The continued objective is to identify and drill-test additional targets within the large La Cigarra project area.
In addition to the on-site exploration programs, test work regarding the Company's phase 3 metallurgical program (see INM PR# 14-02, dated January 26, 2015) is progressing well and is now over 50% complete.
Mr. David Ernst, a professional geologist and VP Exploration of Northair is a Qualified Person as defined by NI 43-101. Mr. Ernst has reviewed the technical information in this news release and approves the disclosure herein.
About Northair Silver Corp.
Northair is focused on advancing its flagship La Cigarra silver project located in the state of Chihuahua, Mexico, 26 kilometres from the historic silver mining city of Parral. The 36,000 hectare property boasts nearby power, good road access, gentle topography, established infrastructure The mineralized system at La Cigarra has been traced over 6.5 kilometres and is defined at surface as a silver soil anomaly and by numerous historic mine workings. The La Cigarra silver deposit is open along strike and at depth and is approximately 25km north, and along strike of Grupo Mexico's Santa Barbara mine and Minera Frisco's San Francisco del Oro mine.
ON BEHALF OF THE BOARD,
NORTHAIR SILVER CORP.
Andrea Zaradic, P. Eng.
President & CEO
Chris Curran, Manager of Corporate Communications at 604-687-7545 or 1-888-338-2200
Website: www.northairsilver.com Email: email@example.com
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.
Caution Concerning Forward-Looking Statements
This news release may contain forward looking statements which are statements that are not statements of historical fact, such as statements regarding the mineral resource estimates, results of the sensitivity analysis, anticipated production or results, sales, revenues, costs, or discussions of goals and exploration results, and involve 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, mineral 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.
Cautionary Note Concerning Estimates of Measured, Indicated and Inferred Mineral Resources
This news release uses the terms "Measured and Indicated Resources" and "Inferred Resources", which have a great amount of uncertainty as to their existence, and great uncertainty as to their economic feasibility. It cannot be assumed that all or any part of a Measured and Indicated and/or Inferred Mineral Resource will ever be upgraded to a higher category. Under Canadian rules, estimates of Inferred Resources may not form the basis of feasibility or other economic studies. Northair advises U.S. investors that while this term is recognized and required by Canadian regulations, the U.S. Securities and Exchange Commission does not recognize it. U.S. investors are cautioned not to assume that part or all of a Measured, Indicated and Inferred resource exists, or is economically or legally minable.