RENO, Nev., April 2, 2012 (GLOBE NEWSWIRE) -- Infrastructure Materials Corp. (OTCBB:IFAM) (TSX-V:IFM) (TSX-V: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 four additional diamond drill holes at the Project. IMMI, a wholly-owned subsidiary of International Millennium Mining Corp. (TSX-V: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-31 and 11NL-34 (see drill highlights and table below), located in the western part of the Nivloc Vein Structure. All 4 holes were collared from pad 4 and are part of a systematic drilling program designed to test a 1,200 foot long by 600 foot vertical, un-mined zone within the Nivloc Mine. Three of these holes were designed to test the upper part of the target area, above the area outlined by previous drilling. All holes intersected the Nivloc host structure with the best intersection being from the deepest hole, 11NL-31.
Drill Highlights from hole 11NL-31:
53 feet @ 92.3 g/t Ag and 0.86 g/t Au - Main Nivloc vein, including:
22 feet @ 165.3 g/t Ag and 1.88 g/t Au - Main Nivloc vein
Hole 11NL-31 intersected the Nivloc vein system between the 700 and 800 foot levels, in the western portion of the target area, 200 feet east of the westernmost mine workings.
Hole 11NL-32 intersected the zone beneath the 440 foot level. Holes 11NL-33 and 11NL-34 were aimed above the 440 foot level with the latter intersecting the zone at its shallowest point to date (200 foot level) The holes show a weakening of grade in this area. The level numbers referred to above, along with distances from other features, are deemed to be approximate.
|Summary of Drill Hole Results|
|11NL-31||055||-86||876.0 – 929.0||53.0||35.4||92.3||0.86||MNV|
|Including||896.0 – 918.0||22.0||14.7||165.3||1.88||MNV|
|11NL-32||116||-63||624.5 – 713.0||88.5||68.0||25.1||0.23||MNV|
|Including||624.5 – 660.0||35.5||27.3||45.5||0.50||MNV|
|Including||629.0 – 635.0||6.0||4.6||106.0||0.80||MNV|
|11NL-33||090||-68||610.0 – 746.0||136.0||75.6||10.1||0.07||MNV|
|Including||739.0 – 746.0||7.0||3.9||31.7||0.16||MNV|
|11NL-34||109||-47||621.0 – 657.0||36.0||27.9||36.7||0.19||MNV|
|Including||626.0 – 629.8||3.8||2.9||142.0||0.13||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 news releases.|
The drilling reported to date has been focused on a target area that lies between previously mined zones within the northeast-southwest-trending Nivloc vein structure. A strongly mineralized zone has been outlined between the 440 and 800 foot level drifts in the old mine workings with lower grade mineralization above the 440 foot level. 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 high-grade lenses of ore that were encountered while drifting along the vein structure. The IMMI drilling program indicates the Nivloc structure ranges from 50 to more than 150 feet wide and contains several parallel vein zones In addition to the potential for high-grade lenses similar to those mined historically, the material between the lenses is consistently mineralized to some degree.
IMMI has also commenced the second phase of its drilling program at the Project. The holes in this program are designed to tighten the drill spacing in parts of the previously drilled target area and to expand the currently defined mineralized zone by stepping out along strike towards the northeast and southwest. Part of the 2012 drilling program will be directed beneath and 500 feet west of the most westerly workings, and to the northeast of the main workings in order to test the mineralized zone beyond the current target area.
It is stressed that no tonnage or grade estimates have been calculated to date. IMMI reports that information from the current drilling program has been incorporated into a geological model for the Nivloc deposit. The results are currently being evaluated for the purpose of converting the data into a Canadian National Instrument (NI) 43-101 compliant resource for the area drilled and to determine locations for additional drilling.
The drill assay intervals were calculated using the weighted average method. Drill core assaying was conducted by ALS Minerals, 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, the qualified person under NI 43-101 in charge of the drilling program, reviewed and approved the technical disclosure 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 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 unless specifically required by law. The reader is cautioned not to place undue reliance on forward-looking statements.