RENO, Nev., March 19, 2012 (GLOBE NEWSWIRE) -- Infrastructure Materials Corp. (IFAM) (TSXV:IFM) (TSXV:IFM-S) (the "Company") reports that International Millennium Mining Inc. ("IMMI"), the option holder for the Nivloc Mine Project (the "Project") released assay results from two additional diamond drill holes at the Project. IMMI, a wholly-owned subsidiary of International Millennium Mining Corp. (TSXV:IMI), is continuing its exploratory drilling at the Project under an option agreement to acquire an 85% interest in 18 claims at the Project that are held by the Company's wholly-owned subsidiary, Silver Reserve Corp.
The results announced by IMMI are from holes 11NL-29 and 11NL-30 (see drill highlights and table below), located in the western part of the Nivloc Vein structure. Both holes were collared from pad 4 and are part of a systematic drilling program designed to test a 1,200 foot long by 800 foot vertical, un-mined zone within the Nivloc Mine. The IMMI drilling program at Nivloc continues to focus on expanding the mineralized zone, which remains open at depth and along strike to both the northeast and southwest directions.
The following highlights of Holes 11NL-29 to 11NL-30 were reported by IMMI:
Drill Highlights from hole 11NL-29:
172.6 feet @ 53.3 grams/tonne g/t Ag and 0.64 g/t Au - Main Nivloc vein, including:
13.5 feet @ 292.3 g/t Ag and 2.46 g/t Au - Main Nivloc vein
Drill Highlights from hole 11NL-30:
196.0 feet @ 98.6 g/t Ag and 0.31 g/t Au - Main Nivloc vein, including:
5.5 feet @ 1,725.0 g/t Ag and 0.16 g/t Au - Main Nivloc vein
Both holes (11NL-29 and 11NL-30) intersected the Nivloc vein system between the 440 and 600 foot levels, in the western portion of the target area, east of the westernmost mine workings. The holes were centered 100 feet apart, and intersected 292 g/t to 1,725 g/t Ag and 1.26 g/t to 2.46 g/t Au lenses within a wide zone of lower grade material. The level numbers referred to above, along with distances from other hole intercepts, are deemed to be approximate.
Drill Hole Results
|Hole No.***||AZo||Dipo||Interval (ft)||Width (feet)|
|Ag (g/t)||Au (g/t)||Vein Description**|
|11NL-29||135||-81||593.4 – 766.0||172.6||121.1||53.3||0.64||MNV|
|Including||593.4 – 609.5||16.1||11.3||109.0||2.22||MNV|
|Also Including||752.5 – 766.0||13.5||9.5||292.3||2.46||MNV|
|11NL-30||125||-75||538.0 – 734.0||196.0||147.0||98.6||0.31||MNV|
|Including||538.0 – 555.0||17.0||12.8||135.1||1.26||MNV|
|Also Including||710.5 – 734.0||23.5||17.6||462.5||0.63||MNV|
|Including||710.5 – 716.0||5.5||4.1||1,725.0||0.16||MNV|
*Estimated true widths are calculated and may change slightly with additional structural information.
**Main Nivloc Vein (MNV).
*** Previous drill hole results are set out in the Company's prior press releases.
The drilling reported to date is focused on a target area that lies between previously mined zones within the northeast-southwest-trending Nivloc vein structure. The exploration target lies between the surface and the existing 800 foot level drift in the old mine workings. The 800 foot mine level is approximately 900 feet vertically below surface, and the vein and workings dip from minus-45 to minus-65 degrees toward the northwest. Previous mining at Nivloc focused on higher-grade lenses of ore that were encountered while drifting along the vein structure. The IMMI drilling program indicates the Nivloc structure ranges from 50 feet to more than 150 feet wide and contains several parallel vein zones. It appears from available data that only one of these parallel vein zones was exploited by prior mining activity. In addition to the potential for higher-grade lenses similar to those that were mined historically, the material between the lenses is consistently mineralized to some degree.
Another component of the IMMI drilling program is directed beneath and 500 feet west of the most westerly workings and to the northeast of the main workings to test the mineralized zone beyond the current target area.
It is stressed that no tonnage or grade estimates have been calculated to date. The drilling program is designed to generate enough reliable information to outline viable mineralized zones that can be converted to resources in compliance with Canadian National Instrument (NI) 43-101 standards.
The drill assay intervals were calculated using the weighted average method. Drill core assaying was conducted by ALS Chemex, which is an ISO-certified laboratory. IMMI reports that it has implemented a quality assurance and quality control program to ensure that sampling and analysis of all samples are conducted in accordance with the best possible practices. The system includes the use of standards, blanks and duplicates to ensure analytical accuracy and the submission of duplicate samples to a second laboratory to verify the integrity of the analytical results.
Thomas L. Evans, California Professional Geologist and a qualified person under NI 43-101, reviewed and approved the technical disclosures of this press release.
Infrastructure Materials Corp. is a Reno, Nevada based exploration stage mining company that is directing its efforts to the exploration and development, if warranted, of cement grade limestone deposits in strategic locations in the United States and Canada and precious metal properties located in Nevada.
Neither the 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 release.
This press release contains technical data concerning drilling results that are intended for persons who have expertise with respect to the interpretation of such data.
FORWARD-LOOKING STATEMENTS: This news release contains certain "forward-looking statements" within the meaning of U.S. securities laws. Forward-looking statements are frequently characterized by words such as "plan," "expect," "project," "intend," "believe," "anticipate," "estimate" and other similar words or statements to the effect that certain events or conditions "may", "have" or "will" occur. This release also contains statements based upon historical records pertaining to our mineral claims that have not been verified by the Company. The term, "resource" is not a term that is recognized by SEC guidelines and does not rise to the level of certainty required by SEC guidelines. Forward-looking statements or references to historical records are based on the material in our possession, opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those stated or projected in this press release. The Company undertakes no obligation to update forward-looking statements or historical information. The reader is cautioned not to place undue reliance on forward-looking statements.
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