Nitinat Announces Results from its Work Program and Commencement of Drilling Program
September 29 2011 - 10:07AM
Marketwired
Nitinat Minerals Corporation (TSX VENTURE: NZZ) ("Nitinat") is
pleased to announce the results from the initial phase of the 2011
field work program on its 100% owned Jasper Property. The work
program was designed to follow up on the positive results from the
2010 program.
The Jasper Property is located on west-central Vancouver Island,
British Columbia, and consists of 10 mineral claims covering 6,615
hectares. Historical and recent exploration work from 1956 to 2010
has discovered numerous occurrences of stringer and massive base
metal sulphide minerals including chalcopyrite, sphalerite and
galena within a co-incident quartz-sericite-pyrite alteration
zone.
The geochemistry results have been received for 12 rock samples
taken from outcrops from five (5) targets at the Jasper Main Grid
area. The results for key elements are as follows:
----------------------------------------------------------------------------
Width Length
Target Sample Type metres metres Au g/t Ag g/t Cu % Pb % Zn %
----------------------------------------------------------------------------
Upper Camp select grab
Creek Road 1 1 0.207 61.45 8.15% 0.01% 0.02%
-----------------------------------------------------------------
select grab 0.5 1 0.121 7.88 0.09% 0.01% 0.05%
-----------------------------------------------------------------
select grab 0.15 1 0.019 3.04 0.34% 0.01% 0.01%
-----------------------------------------------------------------
select grab 0.75 1 0.041 34.4 8.38% 0.01% 0.02%
----------------------------------------------------------------------------
Pan North select grab 0.5 1 0.136 48.20 7.34% 0.14% 16.00%
-----------------------------------------------------------------
select grab 0.5 1 0.047 7.15 1.18% 0.01% 4.21%
----------------------------------------------------------------------------
Upper Pan select grab 0.5 2 0.214 34.49 5.93% 0.04% 0.11%
----------------------------------------------------------------------------
1.25 0.042 17.68 0.95% 20.07% 9.61%
continuous -------- -----------------------------------
Pan South representative 0.9 6 0.087 6.68 0.27% 0.52% 3.71%
chips -------- -----------------------------------
0.5 0.072 7.75 0.39% 6.71% 9.11%
----------------------------------------------------------------------------
continuous 2 0.035 2.50 0.64% 0.01% 0.05%
Log Sort representative-------- 2 -----------------------------------
chips 2 0.055 3.10 0.43% 0.06% 0.06%
----------------------------------------------------------------------------
Based on these results, Nitinat will commence a drilling program
of approximately three (3) holes in October, 2011. The drilling
program is designed to follow up on the positive results from the
12 rock samples.
All rock samples were taken by, or under the supervision of,
Jacques Houle, P.Eng. and sent to, and analyzed by, Inspectorate
Mining and Exploration Services Ltd. of Richmond, B.C. using 4-acid
digestion and 50 element ICPMS, ore grade assay AA for over limit
Cu, Pb, Zn, and 1AT fire assay AAS for Au.
All five (5) targets are known from previous work on the Jasper
Property documented in previous reports and news releases by
Inspiration Mining Corporation.
The Upper Camp Creek Road Target consist of several
steeply-dipping, narrow (0.1-1.0 m. thick) quartz-sulphide veins
containing varying amounts of pyrite, chalcopyrite and bornite
hosted by altered volcanic rocks exposed in blasted and
mechanically trenched outcrops along logging roads. The Log Sort
Target consists of a gently north-dipping, 2 m. thick zone
siliceous, sulphidic and chloritic volcanic breccia containing
varying amounts of pyrite, chalcopyrite and malachite exposed over
2 m. length in a mechanically trenched outcrop. Neither is
considered a high priority target at this time.
The Pan North Target consists of fault-bound segments of gently
west-dipping to flat-lying semi-massive sulphides containing
pyrite, chalcopyrite, sphalerite, and bornite hosted by sericitic
and siliceous volcanics, exposed in blasted and mechanically
trenched outcrops along logging roads. The Upper Pan Target
consists of chloritic and sulphidic volcanics containing pyrite and
chalcopyrite in a 0.5 m. thick steeply west-dipping shear zone,
exposed over 2 m. in a hand-trenched outcrop. The Pan South Target
consists of a gently northwest-dipping, 0.5 - 1.25 m. thick
quartz-calcite-sericite-sulphide vein containing pyrite,
chalcopyrite, sphalerite and galena hosted by chloritic volcanics
and exposed over 6 m. in a mechanically trenched outcrop along a
logging road. Three representative chip samples taken across the
vein structure averaged 0.063 ppm gold, 12.07 ppm silver, 0.61%
copper, 10.91% lead and 7.51% zinc over 0.9 m. thickness. The three
Pan targets together are considered a priority target for diamond
drilling initially by three 50-100 m. steep, east-trending holes at
50 m. spacing from the Caycuse Main Road, requiring a $50,000
budget. Additional drilling may be proposed conditional upon the
results of the initial drilling.
The field work program is being supervised by Jacques Houle,
P.Eng., a Qualified Person pursuant to National Instrument 43-101.
Mr. Houle has reviewed the contents of this news release.
This update contains "forward looking statements" within the
meaning of the United States Private Securities Litigation Reform
Act of 1995 and applicable Canadian securities legislation.
Generally, these forward looking statements can be identified by
the use of forward looking terminology such as "plans",
"anticipated", "expects" or "does not expect", "is expected",
"budget", "scheduled", "estimates", "forecasts", "intends",
"anticipates" or "does not anticipate", or "believes", or
variations of such words and phrases or state that certain actions,
events or results "may", "could", "would", "might" or "will be
taken", "occur" or "be achieved". Nitinat is subject to significant
risks and uncertainties which may cause the actual results,
performance or achievements to be materially different from any
future results, performance, or achievements expressed or implied
by the forward looking statements contained in this release.
Nitinat cannot assure investors that actual results will be
consistent with these forward looking statements and Nitinat
assumes no obligation to update or revise the forward looking
statements contained in this release to reflect actual events or
new circumstances.
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.
Contacts: Nitinat Minerals Corporation Herb Brugh Secretary of
the Corporation 416-842-9000 Investor Relations 604-221-7604
604-221-7606 (FAX) galecapital@shaw.ca www.nitinatminerals.com
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