Re: News coming down the pipe, Drill results North Zone
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Jun 11, 2008 09:05AM
The company is exploring for nickel deposits on its Langmuir property near Timmins, Ontario; for nickel-gold-copper on its Cleaver and Douglas properties; and for molybdenum and rare earth elements at recently acquired Desrosiers property.
Inspiration Intersects 1.042% Ni Over 9.95 M or 32.64 Ft Containing 1.248% Ni Over 7.09 M or 23.26 Ft (True Width) 247m Below Surface at the Langmuir North Zone
13:00 EDT Wednesday, June 11, 2008
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TORONTO, ONTARIO--(Marketwire - June 11, 2008) - Inspiration Mining Corporation (TSX:ISM)(FRANKFURT:OI8) (the "Corporation") is pleased to announce the results of the continuation of their diamond drilling program on its Langmuir Project, located in Langmuir Township south of Timmins, Ontario. The Langmuir Property consists of 69 unpatented contiguous mining claim units covering approximately 1090 hectares in the north-central portion of Langmuir Township, Porcupine Mining Division, District of Cochrane, Ontario. The property is approximately 25 km southeast of Timmins, Ontario, and hosts the past producing Langmuir No.1 Mine, and majority of the past producing Langmuir No. 2 Mine.
Inspiration is continuing the drilling at the Langmuir Project - Langmuir No.2 Mine - North Zone. The detail fill-in drill program is designed to complete the definition of the nickel bearing mineralization below the 100 metre level.
The following table indicates the drill information for the North Zone drill holes:
--------------------------------------------------------------------------- --------------------------------------------------------------------------- Drill Hole Grid Grid Dip Azimuth Section Section Length Northing Easting (Geodetic) Northing Easting (m) (metres) (metres) (metres) (metres) --------------------------------------------------------------------------- --------------------------------------------------------------------------- LN08-107 3037.90 2035.05 -60.41 301.27 3648.42 243.45 407.01 --------------------------------------------------------------------------- LN08-108 3037.74 2035.31 -67.32 301.27 3648.41 243.77 464.24 --------------------------------------------------------------------------- LN08-109 3034.34 1944.62 -62.97 298.93 3600.13 166.92 199.97 --------------------------------------------------------------------------- LN08-110 3034.16 1944.91 -72.30 310.57 3600.12 167.26 265.93 --------------------------------------------------------------------------- ---------------------------------------------------------------------------
Drill hole LN08-107 and LN08-108 was located 118 metres east of previously released drill holes LN06-42 and LN06-43. These drill holes were designed to evaluate the nickel potential at a greater depth than previous drilling at the North Zone.
Drill hole LN08-107 is located approximately 164 metres down dip of previously released drill hole LN06-43. The nickel mineralization ranging from 282.40 m to 296.00 m (core length) is approximately 242 metres to 253 metres vertically below surface.
Drill hole LN08-108 deviated northwards onto Section 3675 North and is located approximately 243 metres down dip from previously released drill hole LN06-60. The nickel mineralization ranging from 339.80 m to 368.00 m (core length) is approximately 310 metres to 335 metres vertically below surface.
Drill holes LN08-109 and LN08-110 drilled from the same setup is located approximately 8 metres east of previously released drill holes LN06-44 and LN06-45 and approximately 19 metres and 52 metres, respectively, down dip from LN06-45.
The following assay results for drill holes LN08-107 to LN08-110 at the Langmuir No.2 Mine - North Zone have been received, compiled and condensed to the following:
-------------------------------------------------------------------------- -------------------------------------------------------------------------- Drill Hole From (m) To (m) Core True Core True Weighted Length Width Length Width Average (m) (m) (ft) (ft) Ni (%) -------------------------------------------------------------------------- -------------------------------------------------------------------------- -------------------------------------------------------------------------- -------------------------------------------------------------------------- LN08-107 226.60 265.30 38.70 28.30 126.97 92.85 0.224 ------------------------------------------------------------------ and ------------------------------------------------------------------ 282.40 330.00 47.60 34.81 156.17 114.21 0.526 ------------------------------------------------------------------ and contains ------------------------------------------------------------------ 282.40 296.00 13.60 9.95 44.62 32.64 1.042 ------------------------------------------------------------------ or 284.30 294.00 9.70 7.09 31.82 23.26 1.248 ------------------------------------------------------------------ 318.90 322.80 3.90 2.85 12.80 9.35 0.922 ------------------------------------------------------------------ or 318.90 321.00 2.10 1.54 6.89 5.05 1.043 -------------------------------------------------------------------------- -------------------------------------------------------------------------- -------------------------------------------------------------------------- -------------------------------------------------------------------------- LN08-108 306.00 381.80 75.80 48.72 248.69 159.84 0.532 ------------------------------------------------------------------ and contains ------------------------------------------------------------------ 339.80 368.00 28.20 17.75 92.52 58.23 0.917 ------------------------------------------------------------------ or 345.90 365.00 19.10 12.02 62.66 39.44 1.058 ------------------------------------------------------------------ with 346.80 355.00 8.20 5.16 26.90 16.93 1.154 ------------------------------------------------------------------ 357.30 362.70 5.40 3.40 17.72 11.15 1.081 ------------------------------------------------------------------ and ------------------------------------------------------------------ 374.40 381.80 7.40 4.66 24.28 15.29 0.567 ------------------------------------------------------------------ or 374.40 377.80 3.40 2.14 11.15 7.02 0.754 -------------------------------------------------------------------------- -------------------------------------------------------------------------- -------------------------------------------------------------------------- -------------------------------------------------------------------------- LN08-109 111.00 129.00 18.00 12.50 59.06 41.01 0.298 ------------------------------------------------------------------ with 123.00 128.00 5.00 3.47 16.40 11.38 0.485 ------------------------------------------------------------------ and ------------------------------------------------------------------ 134.00 137.60 3.60 2.50 11.81 8.20 0.282 -------------------------------------------------------------------------- -------------------------------------------------------------------------- -------------------------------------------------------------------------- -------------------------------------------------------------------------- LN08-110 143.00 162.67 19.67 10.71 64.53 35.14 0.237 ------------------------------------------------------------------ and ------------------------------------------------------------------ 186.50 190.20 3.70 2.02 12.14 6.63 0.235 -------------------------------------------------------------------------- --------------------------------------------------------------------------
The nickel bearing sulphide mineralization, with estimations ranging from 1% to 20% fine-grained disseminatations up to massive 100% sulphides, is contained within serpentenized komatiitic ultramaftic extrusive flows with occasional spinifex texture.
The assaying technique used is the industry standard for base metal assaying, which uses nitric and hydrochloric acids that extracts nickel only from sulphide mineralization and not from nickel silicate minerals.
The assaying of split core samples was conducted by Swastika Laboratories, and included the insertion of blanks and standards. The Qualified Person in charge of the Langmuir Project and the person who prepared the technical data in this release is Kian Jensen, B.Sc., P.Geo. (Ont).
FOR FURTHER INFORMATION PLEASE CONTACT:
Inspiration Mining Corporation Randy Miller President (905) 853-7400 Website: www.inspirationmining.comor
Investor Relations: Gale Capital Corporation (604) 221-7604 (604) 221-7606 (FAX) Email: galecapital@shaw.ca