International Millennium Mining Corp.: Results from Silver Peak's Winter 2017 Exploration Programs Exceed Expectations
March 05 2018 - 9:00AM
International Millennium Mining Corp. (“IMMC” or the “Company”)
(TSX-V:IMI) announces that as a result of its recent land
acquisitions at Silver Peak, the Company embarked on a winter
exploration program, which demonstrated surface gold and silver
mineralization was much more extensive than previously anticipated.
The Silver Peak property now consists of approximately 4,000
contiguous acres, which hosts fourteen (14) well mineralized
fault/vein structures. Two of these structures have so far produced
9.8 million ounces of silver (Ag) and 52.9 thousand ounces of gold
(Au).
The winter program focused on sampling ten (10)
known fault/vein structures in the 16-to-1 Canyon (see Silver Peak
Property Map, on the Company’s website). Table 1 shows the veins
that were examined during the work program along with their
orientation and known lengths; these lengths represent the exposed
occurrence of vein material.
Table 1. Vein Descriptions
Vein
Descriptions |
Zone Name |
(Average) |
Length (m) |
Strike (°) |
Dip (°) |
Vein |
Host-Fault |
Red Mountain |
042 |
Vertical |
Multiple veins |
2,000 |
16 to 1 |
055 |
75° SE |
670 |
1,400 |
Eagle |
048 |
63° NW |
900 |
1,200 |
Chico |
065 |
75° SE |
400 |
700 |
Burney |
025 |
84° SE |
400 |
800 |
Patience |
055 |
72° SE |
300 |
700 |
Kathy |
038 |
Vertical |
200 |
? |
Elaina |
190 |
68° SE |
200 |
? |
Merle |
192 |
50° SE |
200 |
? |
14 to 1 |
Unknown |
Unknown |
? |
? |
Historical production at the 16-to-1 Mine was
from the 16-to-1 Vein and the Colorado Zone, a splay vein.
According to historical records, neither of these zones were
completely exploited. Seven (7) samples were collected from
muck-piles and adits of the 16-to-1 Mine, with sample values
ranging from 1.09 to 8.79 g/t Au and 62 to 667 g/t Ag, as shown in
Table 2. In this area, at surface, the structures consist of
numerous narrow veins that individually are less than 1.5 m wide,
but they lie within a wider (10 to 20 m wide) deformed zone
containing irregular veining. At a depth of 50 m, it appears from
historical work that this veining coalesces into much wider zones
of well mineralized material.
Table 2. 16-to-1 Vein Sample
Results
16-to-1 Vein Sampling Results |
Sample No. |
Vein |
Description |
Au (g/t) |
Ag (g/t) |
M685145 |
16-to-1 |
16-to-1 Shaft #1 Muck Pile; grab |
1.09 |
62 |
M685146 |
16-to-1 |
16-to-1 Muck Pile east of 7200-level Adit; grab |
2.92 |
505 |
M685151 |
16-to-1 |
16-to-1 Surface NE of Shaft #1; Chip over 1 m |
1.79 |
195 |
M685169 |
16-to-1 |
UG in #2 adit 16-to-1; Chip over 1.5 m |
2.50 |
91 |
M685170 |
16-to-1 |
16-to-1 Surface by #2 Adit; Chip over 1.5 m |
4.16 |
272 |
V661502 |
16-to-1 |
16-to-1 muck pile grab; dark; 7200-level; grab |
1.45 |
667 |
V661503 |
16-to-1 |
16-to-1 muck pile grab; light; 7200-level; grab |
8.79 |
476 |
The Red Mountain Fault Zone is a major NE-SW
trending fault zone, located 100 to 300 m north of the 16-to-1
Vein. With a strike of 042° it is projected to merge with the
16-to-1 Vein west of the 16-to-1 Canyon. Due to the rugged terrain
only one sample from a narrow calcite-quartz vein was collected.
This sample contained >25% Ca suggesting that it is very high in
the epithermal vein system and above the zone where precious metals
would be anticipated. Further work is required in this area either
with surface drilling or underground development.
In the northwest portion of the property,
northeast of the 16-to-1 structure, the 14-to-1 and Eagle Veins
were sampled where exposed in old pits, trenches and outcrops.
Sample results in these areas did not contain significant
mineralization, with sample values ranging from no detectable
precious metals to 0.25 g/t Au and 18 g/t Ag, the exception being
one significant sample from an outcrop in the eastern projection of
the Eagle Vein system on the west side of the 14-1 Canyon. This
sample was from a 30 cm wide vein within a veined and deformed
structure that was more than 20 m wide and assayed 2.57 g/t Au and
53 g/t Ag despite being dominantly calcite (>25% Ca).
The 2017 Winter program demonstrated that there
is significant potential on the west side of the 16-to-1 Canyon, an
area that has not been systematically explored to-date, and during
the program three strongly mineralized areas were identified in the
lower 16-to-1 Canyon, see sample results in Table 3, below. The
mineralized zones include the western end of the Chico Vein, which
is strongly mineralized at surface where the exposed veining is
primarily calcite; the Burney Vein, which is well developed and
well mineralized on both sides of the 16-to-1 Canyon, but was never
fully explored underground; and the Patience, Kathy, Elaina and
Merle Vein Cluster, which are all proximal and oriented in such a
way as to suggest that they may merge at a shallow depth, or are
related to a common structural feature, such as an intrusive body,
at shallow depth. Most of the historical drilling in this region
was carried out in the active mining areas in order to locate
additional ore reserves. Very little attention was given to other
known mineralization in this portion of the Silver Peak Property,
partially because of ownership issues during the time when the mine
was in operation by Sunshine Mines.
Table 3. Lower 16-to-1 Canyon
Sample Results
Lower 16-to-1 Canyon Sampling
Results |
Sample No. |
Vein |
Description |
Au (g/t) |
Ag (g/t) |
M685178 |
Chico |
Chico Vein; upper |
0.64 |
37 |
M685179 |
Chico |
Chico Vein B |
1.23 |
148 |
M685180 |
Chico |
Chico Vein A |
1.50 |
56 |
M685181 |
Chico |
Chico Vein C |
0.74 |
46 |
M685182 |
Chico |
Chico 1 wide |
1.19 |
129 |
M685183 |
Chico |
Chico Vein above Polvorin |
1.12 |
57 |
M685150 |
Burney |
Burney Vein; old, open cut, Chip over 3 m |
0.21 |
33 |
M685184 |
Burney |
Burney Vein NE; 50 cm of 3m vein |
0.12 |
13 |
M685185 |
Burney |
Burney Vein system, 20 cm vein |
0.96 |
86 |
M685186 |
Burney |
Burney SE; 30 cm of a 2 m wide zone |
0.31 |
27 |
M685187 |
Burney |
Grab of Burney Vein in 3m open cut |
0.10 |
15 |
M685188 |
Burney |
Burney 40cm 060 Vein |
1.05 |
70 |
M685190 |
Burney |
Burney South Adit; Middle, chip over 1m |
1.38 |
49 |
M685191 |
Burney |
Burney South Adit; Left, chip over 1m |
3.79 |
75 |
M685192 |
Burney |
Burney South Adit; Right, chip over 1m |
0.17 |
16 |
M685189 |
Merle |
Merle North; 20+5 cm |
2.29 |
18 |
M685193 |
Patience |
Patience 30 cm |
0.33 |
49 |
M685194 |
Kathy |
Kathy Vein; 3m wide -65° at 030° |
0.25 |
21 |
M685195 |
Patience |
Patience |
0.51 |
64 |
M685198 |
Merle |
Merle Vein; 40 cm |
0.31 |
25 |
M685199 |
Merle |
Merle Vein; 50 cm |
0.41 |
25 |
M685200 |
Elaine |
Elaina Vein |
0.30 |
<5 |
V661501 |
Elaina |
Elaina Vein; 20 cm |
0.70 |
13 |
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. Drilling is required to further delineate the
potential of this area.
Seymour Sears, P. Geo, the Company’s consulting
geologist since 2004, completed the Silver Peak Winter geology
field work program in late December 2017. The Company is currently
planning its 2018 drilling program, which 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 &
CEOTelephone: (604) 527-8135E-mail: info@immc.ca
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