🕐03.05.10 - 21:32 Uhr
Drilling Continues And Additional Ground Acquired At Simon Mine Property, Nevada
DRILLING CONTINUES AND ADDITIONAL GROUND
ACQUIRED AT SIMON MINE PROPERTY, NEVADA
North Vancouver, BC: International Millennium Mining Corp.
(the
“Company” or “IMMC”) is completing the second of two holes to
test the main Simon Mine MMI geochemical anomaly and is about to
commence a third hole to test a strong Induced Polarization (IP)
anomaly located just SW of the main Simon Mine workings in an area
previously unexplored by drilling.
The intensity of the IP high
suggests the possible presence of sulphide mineralization beneath an
area of jasperoid/hematite altered limestone cut by rhyolite dikes.
The Company’s 100% owned Simon Mine Property is located in the
Walker Lane Trend, near Mina, Nevada.
Following the recommendations
in the June 11, 2009, Report of David Mark, P.Geo, IMMC initiated a
minimum 3,000 meter drill program to test certain primary coincident
mobile metal ion (MMI) geochemistry and induced polarization (IP)
geophysics targets developed from programs carried out by the Company
in 2007 and 2008.
Thomas L.
Evans, Professional Geologist, California, the qualified
person under NI 43-101 responsible for the drilling program, reports
the drill program commenced in early February, 2010.
Hole S10-1 was
drilled on the North side of the Mammoth Fault to test a down-dip
target below the 300 meter level of the Simon Mine where Federal
Resources last mined mineralised material.
The hole was collared in a
hanging wall of Tertiary, volcanic and intrusive rocks.
S10-1
encountered strongly altered and faulted rhyolite tuff and shallowly
emplaced felsic intrusives.
Phyllic alteration consisting of
quartz-sericite with pyrite mineralization was common.
The hole was
lost at 191 meters when clay gouge and fault breccia sloughed into
the hole.
A replacement hole, S10-2, was collared 100 meters east of the
original site on March 3, 2010.
The hole encountered volcanic and
intrusive phases similar to those in S10-1.
Despite difficult
drilling conditions, S10-2 reached the Mammoth fault at 314 meters
where it entered a footwall of Luning limestone.
Although no
significant mineralization was found, the hole is continuing to test
deeper levels in the footwall sequence.
Intrusive porphyry dikes have
been intersected, and silica alteration and bleaching have increased
at the current depth of 543 meters.
The hole is expected to be
completed at about 600 meters.
The Company also announces that seven new contiguous lode claims
(~55.7 hectares) have been located to cover a molybdenum and copper
MMI geochemical anomaly situated on the southwest side of the Simon
property.
The new claims are contiguous with the western boundary of
the Simon property.
The anomaly is a large bulls-eye type feature
located in late Tertiary lake bed sediments of the Esmeralda
formation.
Any drilling on this target would test for a concealed
coppermolybdenum porphyry beneath these sediments.
The Simon Mine is a past lead, zinc, silver, gold and copper
producer.
In addition, there are unsubstantiated reports that 50,000
to 100,000 tons of mineralized material, with unknown grade, remain
within the mine, but this cannot be confirmed until the underground
workings are dewatered.
Stock Options Correction
The Company also wishes to correct its stock options announcements
of December 24, 2009 and March 4, 2010, and advise that the grant of
three year incentive options to its employees, officers, directors
and consultants under terms of its Stock Option Plan, was for the
right to purchase 2.81 million shares at $0.10 per share and not 3.2
million or 2.91 million shares at $0.10 per share as previously
announced.
The Company has no other stock options in effect.
About International Millennium Mining Corp.
International Millennium Mining Corp.
is a mineral exploration and
development company engaged in acquiring known small mines 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 & CEO
Further information about the Company can be found on SEDAR
(www.sedar.com) or by contacting Mr.
Wayne Meredith: 604- 569-2509
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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