🕐20.01.11 - 21:54 Uhr
International Millennium Adds Ground & Company Updates
International Millennium Adds Ground & Updates Exploration Progress
By First Mexican Gold On Hilda Property Sonora Mexico
North Vancouver, BC: International Millennium Mining Corp.
(“IMMC” of the “Company”) announces the purchase, of the
Santa Martha exploration concession 220 kilometers southeast of
Hermosillo, near the village of Guadalupe in Sonora State, Mexico.
The 68 hectare concession, acquired through IMMC’s wholly owned
Mexico subsidiary Minera Internacional Milenio S.A.
de C.V.
(MIMSA),
is contiguous with the Company’s Hilda 30 and 31/32 properties and
increases the Hilda Group Properties now to 1,566 hectares.
The
US$50,000 acquisition price for the Santa Martha was funded by First
Mexican Gold Corp.
(“First Mex” TSX-V FMG) (formerly First
Mexican Resources Ltd.) and is an expenditure incurred under First
Mex’s 80% earn-in option with IMMC.
In the past, the Santa Martha
has been mined for both copper and gold/silver on a small scale.
Other property acquisitions are pending.
Further to IMMC’s November 2, 2009, news release setting out the
terms for an Amended and Restated Option agreement between the
Company and First Mex, First Mex exercised its option, in June 2010,
to acquire, 60% interest in Hilda 30 concession and 40% interest in
the Hilda 31, 32, and 37/38 concessions.
At the same time, First Mex
advised IMMC that it would take-up its further option to earn 80%
interest in the Hilda Group concessions by incurring an additional
US$3 million of expenditures, making timed cash payments of
US$100,000 and by issuing 1.4 million First Mex shares to the Company
over a 5 year period (see First Mex news release of January 14, 2011).
The Hilda Group properties are located in the Guadalupe - Santa Anna
area and a paved road runs to within 15 kilometres of the property.
First Mex has to date, completed over 14 km of access roads to
numerous exploration areas within the property itself.
The Hilda
Group properties are, according to First Mex, bordered
by Corex Gold Corp (TSX-V: CGE) on two sides and are situated in the
same general area as the Mulatos mine of Alamos Gold Inc.,
(approximately 52 km northeast of the Hilda), the Dolores mine of
Minefinders Corp Ltd., (approx.
105 km northeast of the Hilda) and
the Ocampo mine of Gammon Gold Inc.
(approx.
76 km east-southeast of
the Hilda).
To date, First Mex reports, exploration programs have focused on
soil and rock chip sampling across a large area of the Hilda group
properties (Hilda’s 30, 31, 32, 37/38) and have included some
limited geophysics plus some limited drilling.
First Mex reports in
their January 14, 2011, news release that in the late summer of 2009
a three hole diamond drill program was carried out on the Hilda 30
prospect.
Ground conditions, according to First Mex, interrupted the
drilling of the first two holes and the third one was completed to a
design depth of 100 metres.
(see highlights below) “Subsequent to
this drill program’, First Mex reports, ‘an opportunity to
quickly drill an additional seven holes presented itself so a program
was designed and drilled by Layne Drilling of Hermosillo.
These holes
were reverse circulation (RC) holes and on average reached a designed
maximum depth of 100 metres.” “The seven holes’, according to
First Mex, ‘were not targeted to replicate the original three
(diamond drill) holes but were designed to help provide strike and
dip information to increase the orientation knowledge of the
discovery and aide efforts to figure out where the mineralization was
going and where it was contained.
First Mex, geologist John Archibald
BSc., P.Geo, a qualified person (QP) under Canadian National
Instrument, 43-101 (“NI 43-101”), and who oversaw the RC drilling
concludes: “From this drill testing it appears that (the
mineralization) is trending further to the north than originally
expected as is exhibited in results from hole RC hole #3 which is
situated furthest to the north.” All samples were assayed by ALS
Chemex.” First Mex describes the drilling to date in the following
words: “All holes drilled to date are near surface with open pit
potential and have all hit mineralized zones with the best highlights
set out below:”
“
DDH #1:
5.8 metres with 3.67 g/t Au & 753 g/t Ag
DDH #2:
15.25 metres with 2.58 g/t Au & 47 g/t Ag
DDH #3:
37.8 metres with 6.51 g/t Au & 678 g/t Ag
including 29.1 metres with 8.36 g/t Au & 900 g/t Ag
including 16.9 metres with 10.61 g/t Au & 1,416 g/t of Ag
RC hole #2:
2 metres with 1.48 g/t Au & 1330 g/t Ag
RC hole #3:
18 metres with 6.52 g/t Au & 61 g/t Ag
including 2 metres with 14.40 g/t Au & 152 g/t Ag
DDH holes #1 thru #3 are non-compliant by Canadian (“NI”) 43-101
standards.
Reverse circulation holes listed above are compliant to
43-101 standards and were overseen by John Archibald P.Geo.”
Precious metal results, reports First Mex, have been very
encouraging and support their view of the positive exploration
potential of this gold/silver prospect.
Exploration work subsequent
to the drill programs has been focused on extensive soil and rock
chip sampling and mapping program over Hilda 30, & 37/38 properties.
This work is presently ongoing.
In addition First Mex conducted and
completed a regional airborne magnetic survey.
First Mex recently
announced commencement of an +/- 1,250 meter, 8 to 10 hole diamond
drill program and advise plans are prepared for a targeted Induced
Polarization (IP) survey to identify the highest grade zones of
mineralization.
First Mex also advises that following interpretation
of collected data combined with new drill data and the existing
encouraging drill results, “…a further exploration drill program
will be planned and executed to further delineate the existing
significant discovery and test new targets on various areas of the
property.”
About First Mexican Gold Corp
First Mexican Gold Corp is an active explorer for precious metals in
Mexico and holds an option to acquire 80% interest in the Guadalupe
property package from Minera Internacional Milenio S.A.
de C.V.
(MIMSA) a wholly owned subsidiary of IMMC.
About International Millennium Mining Corp
International Millennium Mining Corp.
is a mineral exploration and
development company engaged in acquiring known small mine deposits
world-wide and in the exploration of polymetallic mineral properties
in Canada and the Americas.
To date, the Company has acquired and is
exploring mineral properties in British Columbia and Ontario, Canada;
Nevada, USA; and Sonora State, Mexico.
Emerging mineral targets
include gold, silver, cobalt, molybdenum, zinc, lead, nickel, copper
and platinum group metals.
The Company’s common shares trade on the
TSX Venture Exchange under the symbol: IMI and on the Frankfurt
Exchange under the symbol: L9J.
ON BEHALF OF THE BOARD
John A.
Versfelt
John A.
Versfelt,
President and CEO
Further information about the Company can be found on SEDAR
(www.sedar.com) or by contacting Ms.
Sheri Barton: 403-217-5830
or Mr.
John Versfelt, President & CEO of the
Company at 604-984-9907.
* * * * * * *
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 news release may contain forward-looking statements including
but not limited to comments regarding the timing and content of
upcoming work programs, geological interpretations, potential mineral
recovery processes and other business transactions timing.
Forward-looking statements address future events and conditions and
therefore, involve inherent risks and uncertainties.
Actual results
may differ materially from those currently anticipated in such
statements.
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