International Millennium Mining Corp. (“IMMC” or the “Company”)
(TSX-V:IMI) reports on the results from the first of two 2017
geology programs on its Silver Peak, Nevada, Property, a property
consisting of approximately 4,000 contiguous acres covering no less
than fourteen (14) fault/vein structures, of which two (2) zones
have historically produced 9.8 million oz of silver and 52.9
thousand oz of gold (see Silver Peak Property Map, on the Company’s
website).
During its 2017 Summer program, the Company
completed prospecting, rock sampling and geological mapping over
the southern portion of its Silver Peak Project to:
- Evaluate the fifty (50) newly acquired contiguous lode claims
to the south and east of the Nivloc Property, which acquisition was
announced in the Company’s April 11, 2017 news release;
- Prospect for the extension of the Nivloc Zone detailed in the
Company’s July 2012 NI 43-101 Inferred Mineral Resource technical
report; and,
- Delineate targets for the Company’s 2018 drill program, which
program is rescheduled to late Spring 2018, largely due to the
Company’s focus on completing the acquisition of an additional
thirty-nine (39) contiguous claims to the north of the Nivloc 172
claims block, announced on December 4, 2017, and completion of the
2017 Winter prospecting, rock sampling and geological mapping
program.
At the Guisti Zone, an area acquired by the
Company in early 2017 (see the Company’s April 11, 2017 news
release), the work program examined two historic adits on the
Guisti Vein and identified a very strong alteration zone with
excellent gold values along its northern extension. Gold values
ranging from 0.12 to 11.35 g/t were obtained from the vein and from
narrow, parallel veins within the altered wall rocks. This vein
system is very strong. The Guisti Vein, where observed at surface,
consists of 2 parallel quartz veins separated by approximately 1.5
m of deformed and altered breccia. The west vein is 0.3 to 0.5 m
wide and, where sampled, assayed from 1.64 to 12.25 grams per tonne
gold (g/t Au) and from 6.0 to 42 grams per tonne silver (g/t Ag).
The east vein assayed from 0.12 to 4.35 g/t Au and 1.4 to 18 g/t
Ag. As with other surface samples in the Silver Peak Project, there
is a strong possibility that these narrow veins will increase in
both thickness and grade with increasing depth.
In the Guisti West area, subparallel to the
Guisti Vein, within the footwall of the Nivloc structure, there are
scores of quartz veins, veinlets and swarms of veinlets. A 0.8 m
wide chip sample from a trench along one of these veins, the
Tailings Vein, assayed 1.81 g/t Au and 134 g/t Ag.
The summer geology program located the primary
Nivloc Vein and traced its surface exposure for 500 meters to the
northeast and 200 meters to the southwest, before it disappeared
under extensive talus and post mineral volcanic rocks. Towards the
northeast, the sampling program focused on the area between the
Main Nivloc Shaft (east of the drilled resource blocks), and the
top of the hill above the Bighorn Adit, a distance of approximately
500 meters. Samples from vein and altered hangingwall rocks assayed
from no detectable gold and one (1) gram of silver to 6.27 g/t Au
and 912 g/t Ag. Considering that these samples were from surface or
near surface, the potential for strong mineralized zones down dip
in this area, east of the Nivloc Main Shaft, is very high.
Sampling of the Nivloc West, which included four
separate areas, was intended to locate the southwest extension of
the Nivloc Structure, and to test the existence of what appears to
be a “Gold Cap,” a zone of high gold values, overlying the resource
blocks identified by the Company’s 2011/2012 drilling program (see
the Company’s 2012 43:101 Inferred Mineral Resource technical
report). Gold values from this sampling program ranged from trace
to 5.55 g/t and silver values ranged from 0.9 to 474 g/t.
Outcropping of the Nivloc Footwall Vein at the east side of the
Gold Cap assayed 3.93 g/t Au and 172 g/t Ag over a sampled width of
8.0 meters. Twenty-five meters along strike, up the hill from that
sample, a 5 meter wide section of the Nivloc Footwall Vein assayed
5.55 g/t Au and 474 g/t Ag. Further to the southwest, approximately
200 meters, at the last known exposure of the Nivloc Vein, sampling
of narrow quartz veins that are part of a wider fractured zone up
to 15 meters wide, produced sample assays ranging from 0.06 g/t to
3.8 g/t Au and from 3.4 g/t to 89 g/t Ag. All of the quartz vein
samples contained elevated Au and Ag, and management expects, based
on historical records and IMMC’s 2011/2012 drilling program, that
these veins will coalesce into thicker veins at depth.
Approximately 400 meters to the west of the
Silver Pond Creek, where the last known exposure of the Nivloc Vein
was observed and sampled, there is an erosional window that exposes
favorable underlying sedimentary rocks, but very limited outcrop.
There is evidence, in the form of strong southwest trending
fracturing and abundant calcite and gypsum in the overburden, which
indicates that the Nivloc Fault Structure may extend beneath a
southwest trending ridge in this area. The rocks to the south of
this structural trend contain numerous crosscutting veins with
elevated values of Ag and Au and may be targets for further
sampling. The work program examined the north-south trending Martin
Adit Vein located on the western end of the Nivloc Structure, as
currently defined. Three channel chip samples across the Marten
Vein above the adit contained a weighted average grade of 1.13 g/t
Au and 85 g/t Ag over a width of 3.0 metres.
The work program also located a swarm of
quartz-calcite veins in the hangingwall of the Nivloc Vein that may
represent a sub-parallel vein system. This area lies to the north
of the main Nivloc shaft and is referred to as the “Million Dollar
Pit” area (MDP Zone). Samples from surface ranged from <0.05 to
0.29 g/t Au and from 0.6 to 9.0 g/t Ag. This area is important
since it may represent the surface expression of a hangingwall vein
encountered in the IMMC 2011-2012 drilling program from which
values ranging from 0.14 to 5.46 g/t Au and 65 to 563.4 g/t Ag were
obtained from intersected widths of 1.1 to 15.1 metres.
The 2017 Summer field program evaluated the
potential for extending the mineral resource area outlined in the
Company’s 2011/2012 drilling program. The mapping and sampling
program located the lowermost vein (footwall vein) within the
Nivloc Structure and traced its surface exposure to the east and
west of the IMMC 2011/2012 drilled resource area for a total length
of 1,400 meters. Further, the program provided evidence that the
Nivloc Structure continues towards the southwest either beneath
overlying volcanic rocks or offset towards the north, and verified
strong gold values in the “Gold Cap”, a near surface zone of high
gold values located directly above the IMMC 2011/2012 drilled
resource area.
The second part of the 2017 Summer program
evaluated the Guisti Zone. Acquired in early 2017, this region of
very strong alteration zones, with excellent gold and silver
values, requires significant follow-up, including mechanical
stripping and channel sampling work, followed by a shallow drill
hole program. Of particular interest, is the swarm of Au-Ag bearing
quartz-calcite veins located to the west of the Guisti Zone. These
vein swarms may expand to economic widths as they approach or
intersect the Nivloc Structure.
The host vein material located within the Silver
Peak Project area are classic epithermal veins. The veins display
distinct vertical zoning, consisting principally of quartz and
adularia at the bottom, and calcite and gypsum nearer the surface.
In addition, the upper parts of the vein systems in this area have
been weathered and leached near surface and oxidized to depths of
200 to 300 meters. The higher grades of known Ag and Au
mineralization appear to occur within the interval from 50 meters
below surface to the base of the oxidized zone, a distance of 150
to 250 metres. Below that point, grades of Cu, Pb and Zn appear to
increase and precious metals decrease, although there is very
little drill data from below the oxidized zone to assess the
economic viability of these zones. As a general rule, the
mineralized veins in the Silver Peak Project area are narrow in
surface exposures, but increase dramatically in width a short
distance down dip.
As an example, the surface exposures of the
Nivloc Vein rarely exceed 1.0 m in width compared to widths of up
to 2.5 to 11.0 m at depth. The historic mining at Nivloc was
focused on the Footwall Vein which had a mining width ranging from
2.0 to 4.0 m. The recently acquired “16 to 1” vein, located
immediately to the northwest of Nivloc, ranges from 0.3 to 1.0 m at
surface, but reaches a width of more than 15 m at a depth of
50 m. The narrow surface expression of the veins is attributed to
weathering and leaching, but in some cases it may be a result of
rock type. The veins often present themselves as narrow chalcedonic
quartz and calcite stringer swarms when observed in a very
siliceous rhyolitic unit that occupies much of the higher terrain
in the area. The mineralizing fluids may have been ponded beneath
this unit, resulting in the increased vein thickness at shallow
depths.
Seymour Sears, P. Geo, the Company’s consulting
geologist since 2004, completed the field work for the Company’s
second 2017 geology program on its Silver Peak property in late
December 2017. The Company anticipates the results will be compiled
and reported by the end of February 2018. Upon receipt of the
results of the Winter 2017 program, the Company will complete its
planning for a 2018 infill definition drilling program, which
program is anticipated to begin following receipt of a temporary
water use permit from the Nevada Division of Water Resources.
International Millennium Mining
Corp. (TSX-V:IMI) is focused on the acquisition,
exploration and development of precious metal deposits in the
Americas, such as its Silver Peak silver-gold project in southwest
Nevada. The Company’s common shares trade on the TSX Venture
Exchange under the symbol: IMI and on the Frankfurt Exchange under
the symbol: L9J.
Seymour Sears, P.Geo, a qualified person as
defined by Nation Instrument (“NI”) 43-101, reviewed and approved
the technical information contained in this news release.
ON BEHALF OF THE BOARD
”John A. Versfelt”
John A. Versfelt President and CEO
Further information about the Company can be
found on the Company’s website (www.immc.ca) and SEDAR
(www.sedar.com) or by contacting Mr. John Versfelt, President &
CEO of the Company at 604-527‑8135.
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.
CONTACT:
John A. Versfelt, President &
CEO Telephone: (604) 527-8135Facsimile: (604)
527-9126E-mail: info@immc.ca
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