RENO, Nev., Jan. 16, 2013 (GLOBE NEWSWIRE) -- Infrastructure Materials Corp. (OTCBB:IFAM) (TSX-V:IFM) (TSX-V:IFM-S) (the "Company") is pleased to announce a new copper-gold discovery at its Kope Scheelite Project (the "Project") in Nevada. The Company's wholly owned subsidiary, Silver Reserve Corp., has completed a preliminary review of assay and geochemical data from reverse circulation drilling on the Project to further delineate the potential of gold, copper, silver and lead mineralization on the Project.
During September and October 2012 the Company completed 2,311.9 meters (m) (7,578 ft) of drilling in 19 reverse circulation holes at the Project. Holes were located to test geological and geophysical targets identified by the Company in previous exploration programs.
|Hole ID||From m||To m||Interval m||Cu %||Au g/t||Other||Host|
|incl||3.0||6.1||3.1||572 ppm antimony (Sb)|
|CPR11||7.6||16.8||9.1||2.42||93.6 g/t Ag||jasperoid, skarn|
|incl||42.7||45.7||3.0||8.92||24.8 g/t Ag|
Drilling has identified copper and gold mineralization hosted both in the intrusive and in adjacent sediments. In addition to those elements reported in this news release, a complex suite of anomalous elements including antimony, bismuth, cobalt, cadmium, gallium, germanium, molybdenum, indium, selenium, tellurium, tin and tungsten were found to form zones in and surrounding the mineralization.
The Company notes the substantial spacing between holes with significant intersections; CPR2 and CPR8 are approximately 1,000m (3,300 ft) apart with no infill drilling to test copper mineralization. CPR9 is on a northeast line between CPR11 500m to the northeast and CPR17 300m to the southwest also without infill drilling to test gold mineralization. It is not clear that these gold intersections are on the same mineralized structure. Phase II drilling will conduct both step out and infill drilling to more clearly delineate these zones. These results have presented the Company with multiple target areas. The Mag grid will be extended to the south in late January to further delineate target areas south of CPR2. It is assumed that this geophysical work will lead to a better understanding of the area. It is anticipated that phase II drilling will start in the late spring of 2013.
"The Company is particularly encouraged by these results since they both confirm historical work and identify directions for future testing of the mineralization. The results also confirm the multi-commodity potential of the Project," notes Mason Douglas, the Company's President and Chief Executive Officer.
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.
About the Kope Scheelite Project
The Project consists of 101 mineral claims located in Mineral County, Nevada, approximately 11 miles northeast of the town of Mina. Previous exploration efforts include recent Time Domain Electro-Magnetic ("TDEM") surveys that offered evidence of the presence of conductive structures on the Project with potential mineralization present within a porphyry system.
The Kope Scheelite Project is located in the Walker Lane, a structural belt which prolifically hosts many significant deposits, including Nevada Copper Corp.'s recently developed Pumpkin Hollow deposits (total Measured and Indicated copper resource of 3.1 billion kilograms (6.8 billion pounds) for the combined Western and Eastern Deposits (Western Open-Pit Deposits: 664 million tonnes, averaging 0.37% Cu with a 0.15% cutoff; and Eastern Underground Deposits: 45.9 million tonnes averaging 1.45% Cu with a 0.75% cutoff - source: Nevada Copper Corp. news release dated October 19, 2012). Infrastructure Materials Corp. believes the Pumpkin Hollow deposits are an analogue for the copper mineralization at the Company's Kope Scheelite Project. Initial exploration appears to indicate that the Kope Scheelite Project may have some higher grade gold mineralization that in places differentiates it from the mineralization style at Pumpkin Hollow. Pumpkin Hollow and the nearby Yerington mine are located approximately 100km (60 miles) northwest of the Kope Scheelite Project. The historical Yerington mine, operated by Anaconda from 1953 to 1978, produced more than 147 million tonnes (162 million tons) of ore grading 0.6% copper.
John Harrop, P.Geo., FGS of Coast Mountain Geological Ltd., a qualified person as defined by Canadian National Instrument 43-101 Standards of Disclosure for Mineral Projects, reviewed and approved the technical disclosures of 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.
Steve McGuire (Teatyn Enterprises Inc.)
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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.
Source:Infrastructure Materials Corp.