Infrastructure Materials Corp. Commences Drill Program on Its Kope Scheelite Project
19 September 2012 - 3:20PM
Infrastructure Materials Corp. (OTCBB:IFAM) (TSX-V:IFM)
(TSX-V:IFM.s) (the "Company") is pleased to announce that it has
commenced a 5,000 foot drill program on its Kope Scheelite Project
(the "Project") to further delineate gold, silver and copper
anomalies identified during recent Time Domain Electro-Magnetic
("TDEM") surveys. TDEM surveys conducted this year indicate the
presence of conductive structures on the Project with potential
mineralization present within a porphyry system. These anomalies,
in conjunction with supporting surface sampling that indicates the
presence of gold, silver and copper, serve as the impetus behind
this drill program. The Project consists of 101 mineral claims
located in Mineral County, Nevada, approximately 11 miles northeast
of the town of Mina.
Pursuant to positive geochemical, geological and historical
ground magnetic data similar to other porphyry systems in the area,
in April of this year the Company contracted Koop Geotechnical
Services Inc. to conduct a TDEM survey over a limited area (see the
Company's Press Release dated May 29, 2012). A total of four lines,
each more than two kilometers long and spaced 300 meters apart,
were completed. The survey identified three distinct trends. The
anomalies can be described as conductivity highs superimposed on a
regional background conductivity produced by the local
overburden.
The most prominent response displayed amplitudes and
conductances typical of what is normally produced from a massive
sulphide source. The dimensions of the modeled conductive plate are
approximately 1000 meters X 1100 meters. The 3-D computer models of
the other two anomalies indicated extents of 250 meters and 300
meters respectively in the shortest dimensions. These two anomalies
are directly coincident with the Clay Peters Mine, which mined
significant gold and silver values. It is Management's intention to
drill test these conductors during the current fall drill
program.
As mentioned, previous surface sampling on the Project also
indicates the presence of gold, silver and copper. Surface mapping
completed in the fall of 2007 at a scale of 1:6000 identified a
series of east-west fault structures and positive indications of
mineralization that are sometimes associated with gold, silver, and
porphyry copper deposits that are situated in Western Nevada's
Walker Lane zone. The 2007 mapping was followed up with two soil
sampling grid programs and selective rock chip samples (2010 and
2012) that confirmed the presence of anomalies at surface
coinciding with the structures and alteration identified by the
earlier work. Results from these efforts included 25 rock samples
and over 450 soil samples. Rock samples collected were grab
samples, which are by nature selective and may not be
representative of mineralized units.
Additional surface geology was completed during June and July of
2012 after reviewing historical data from previous operators that
was used to determine the targets for the drill program that just
commenced. The Company's targets concentrate on three Magnetic
Highs and three TDEM target areas that also coincide roughly with
surface geochemistry.
Previously reported rock samples with significant levels of
gold, silver and copper are summarized in the table below:
|
Sample |
Gold parts per million
(ppm) grams per tonne (g/t) |
Silver ppm (g/t) |
Copper % |
KCP-101 |
0.079 |
6.2 |
1.29 |
KCP-102 |
3.494 |
12.6 |
0.09 |
KCP-107 |
2.028 |
532.3 |
6.09 |
KCP-110 |
0.116 |
6.4 |
4.53 |
KCP-111 |
1.461 |
361.2 |
15.95 |
KCP-115 |
2.648 |
5.2 |
0.05 |
Analytical work was conducted by Inspectorate America, which is
an ISO 9001 Certified laboratory widely recognized as an expert in
geochemical analysis and assaying. The assay method used by
Inspectorate America for gold is Fire Assay with Atomic Adsorption
finishing. Inspectorate America uses Aqua Regia digestion with ICP
for all other elements assayed. The Company 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.
Todd Montgomery, CEO of the Company, said, "Our Team is very
excited about the geophysical targets we are testing in this drill
program. The Kope Scheelite Project offers targets with tremendous
potential as we see evidence both from our geophysical work and
from our extensive surface sampling."
John Harrop, PGeo, FGS, of Coast Mountain Geological Ltd., a
qualified person as defined by Canadian National Instrument 43-101
Standards of Disclosure for Mineral Projects, reviewed the
technical information contained in this press release on behalf of
the Company.
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.
For further information please see our public filings at
www.sedar.com and www.sec.gov/edgar.shtml or contact:
Steve McGuire (Teatyn Enterprises Inc.) Investor Relations
Phone: 1- 604-574-7555 Email: steve@teatyn.com or
info@infrastructurematerialscorp.com or visit our website at
www.cementforthefuture.com or
www.infrastructurematerialscorp.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 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.
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