Printer Friendly

Int'l Northair - Teck Identifies Possible Large Bulk Minable Gold Deposit at Lachatao in Mexico.

VANCOUVER, BRITISH COLUMBIA--(BUSINESS WIRE)--Jan. 24, 1997-- International Northa(VSE INM.) Mr. Donald A. McLeod, Chairman of International Northair Mines Ltd. (VSE:INM) is pleased to announce very encouraging exploration results from the Lachatao project, located approximately 35 km northeast of the city of Oaxaca, Mexico. The Lachatao property is held by International Northair's wholly owned Mexican subsidiary, Grupo Northair de Mexico, S.A. de C.V., under an option agreement for both surface and mineral rights. The property position consists of an 8km by 8km concession, which gives Grupo Northair control of a major gold district that has been partially developed from Pre-Colonial times to the present. Several bulk tonnage gold targets have been identified to date associated with a large bi-modal volcanic center.

In May of 1996, the Company entered into a Joint Venture agreement with Minera Teck, S.A. de C.V., the Mexican subsidiary of Teck Corporation to explore and develop the property. Teck's initial exploration focused on the San Pedro - San Pablo target with a program consisting of detailed mapping, trenching, sampling of outcrops and road cuts, and a nine hole reverse circulation drill program totalling 1,215.5 meters. Five of the drill holes encountered significant gold mineralization summarized as follows:

Drill Hole # From To Width Gold Total Depth
 (m) (m) (m) g/t (m)

Lach-1 79.0 106.0 27.0 0.123 143.5
Lach-2 17.0 66.5 49.5 0.509 90.5
 80.0 90.5 10.5 2.140
Lach-3 5.0 90.5 85.5 0.967 90.5
includes 17.0 24.5 7.5 1.300
includes 29.0 44.0 15.0 2.138
Lach-4 65.0 161.0 96.0 0.616 161.0
includes 72.5 75.5 3.0 1.630
includes 90.5 98.0 7.5 1.877
Lach-9 34.5 57.0 22.5 0.404 122.5
 78.0 122.5 44.5 0.695
includes 100.5 111.0 10.5 2.590

The remaining four holes intersected strongly anomalous gold values. Six of the drill holes bottomed in mineralization. The drilling program intersected massive vein, stockwork and disseminated gold mineralization primarily in lithic tuffs. Of particular interest is disseminated gold values over significant intercepts within altered volcanics indicating the possible presence of a large bulk minable gold deposit.

The San Pedro - San Pablo zone represents one of several targets previously defined by Teck and Northair on the Lachatao property. Teck now considers the Lachatao project to be one of its more encouraging exploration projects in Mexico, and has committed a budget of US$450,000 for 1997. Teck has informed Northair that their 1997 program will focus on exploring the entire property position and defining and evaluating additional bulk minable targets. This program will include regional color aerial photography, installing a grid, detailed mapping and sampling, stream sediment sampling, widespread trenching and finally drilling. A second phase of drilling will also be scheduled for the San Pedro - San Pablo zone. Teck hopes to initiate drilling prior to July of this year. Northair is pleased to have Teck as a partner on this exciting project. The Joint Venture has created a powerful well financed exploration team that is committed to fully evaluating the district's potential. -0-

The Vancouver Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this press release.

CONTACT: International Northair Mines Ltd.

James D. Romano, 604/ 687-7545

1-888-338-2200 Toll Free
COPYRIGHT 1997 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1997, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Business Wire
Date:Jan 24, 1997
Previous Article:Corporate Profile for LinkPro Inc., dated Jan. 24, 1997.
Next Article:Corporate Profile for Accent Presentations Inc., dated Friday, Jan. 24, 1997.

Related Articles
Southwestern Gold and Teck Corporation - Gold Discovery Poracota Property - Cotahuasi Joint Venture, Peru.
Teck Corporation Southwestern Gold Corporation Gold Discovery Poracota Property - Cotahuasi Joint Venture, Peru.
Golden Quail announces increase in reserves at San Bernardino County, Calif. project.
Royal Standard Minerals: Preliminary Assessment of the Economic Viability of the South Bullion Gold-Silver Deposit Completed.
Int'l Northair-Teck Reports 30 M of 1.59 G/T Gold From Lachatao Trenching.
International Northair Mines: Teck Discovers a New High Grade Gold Zone at Lachatao in Mexico.
Mink: Early Results in Goingoindougou Zone; Major Aeromagnetic Anomaly Discovered in Libre Plateau and Niaouleni Zones; Diamond Drilling of IP...
Southwestern/Teck to Advance Poracota Gold Project, Peru; Cotahuasi Joint Venture: Internal Review Positive.
Canarc Resource Corp. Acquires The Strategic Lobo 3 Property Near Zacatecas, Mexico; Grants 50% Option To Mill City International Inc.
1998 Exploration Update, Exploration underway on True North, Twin Buttes and Scheelite Dome properties, Alaska and Yukon.

Terms of use | Privacy policy | Copyright © 2018 Farlex, Inc. | Feedback | For webmasters