Infrastructure Materials Corp. (OTCBB:IFAM) (TSX-V:IFM)
(TSX-V:IFM.s) (the "Company") is pleased to announce the completion
of the first phase of an extensive geophysical survey program on
its Clay Peters Project in Nevada (the "Project"), referred to in
prior communications as "Kope Scheelite." The Company's survey
program extended to the south a magnetic geophysical survey that
was conducted by Zonge International Inc. of Reno, Nevada
("Zonge"), for AngloGold (U.S.A.) Exploration, Inc. in 1999, and
offers encouraging evidence of the presence of a high priority
anomalous target.
In January 2013, the Company retained Zonge to perform a ground
magnetic survey on the Project covering a total area measuring
3,450 meters by 4,500 meters with 150 meter spacing between 18
east-west lines for a total of approximately 62.1 line-km of survey
coverage. A broad composite magnetic high (approximately 2km x
1.5km) was identified with amplitudes of 200-350 nano Tesla (nT)
above background in the central area of the survey. The depth of
the magnetic anomaly is estimated at 300-to-400 meters with two
distinct local areas in the south of shallower magnetic
anomalies.
Presently, the Company believes that the source of the magnetic
response may be one or more magnetite skarns around a
Cretaceous–Tertiary granodiorite and feldspar porphyry that is
mapped in outcrop on the northern and eastern portions of the
Project. Further, the Company also reasons that the anomaly
represents a large intrusive when considered in the context of
previous surface geology, magnetic surveys and drilling work. Due
to the wide line-spacing, this anomaly is currently rather
indistinct and requires additional exploration to further delineate
its nature. Please refer to the image below entitled, "Ground
Magnetic Survey and Conceptual Cross Section" for a visual review
of the magnetic structures identified from the magnetic surveys to
date as well as overlaying drill hole locations discussed
below.
Mapping and sampling, which has taken place since late January
2013, has noted numerous northeast/southwest fault structures with
weak alteration.
The Company has also initiated an orientation induced
polarization geophysical survey expected to be completed by the end
of April 2013. This survey will build on previous work and provide
both a deep and shallow look at the anomaly. The Company's
President and CEO, Mason Douglas, speaking about the current
geophysical work, stated, "I am very excited about this new
discovery and this particular phase of exploration. Results
continue to offer evidence for the potential for a large
copper-gold system. This next phase of geophysics will be integral
to the design of our planned summer drill program that in turn will
offer an enhanced look at what we believe are potentially sizeable
targets." The summer drilling will include first round exploratory
drilling in the southern portion of the Project to test the edge
targets as well as the central portion of the magnetic high.
Additionally, several holes may be drilled to test mineralized
extensions encountered in the 2012 drill program.
To view an enhanced version of this
image, please visit:
http://orders.newsfilecorp.com/files/1496/4985_imc-enhanced.jpg
During September and October 2012 the Company completed 2,309.8
meters (m) (7,578 ft) of drilling in 19 reverse circulation holes
at the Project (see press release dated January 16, 2013). Drilling
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. Below is a table of highlights from the fall 2012
drill program:
|
|
|
|
|
|
|
|
Hole ID |
From m |
To m |
Interval m |
Cu % |
Au g/t |
Other |
Host |
|
CPR2 |
86.9 |
161.6 |
74.7 |
0.26% |
|
|
skarn, gossan |
incl |
138.7 |
161.6 |
22.9 |
0.49% |
|
0.42% Zn |
|
and |
86.9 |
103.7 |
16.8 |
0.34% |
|
|
|
|
CPR8 |
0.0 |
35.1 |
35.1 |
0.39% |
|
|
skarn, intrusive |
incl |
10.7 |
35.1 |
24.4 |
0.53% |
|
|
|
incl |
15.2 |
27.4 |
12.2 |
0.91% |
|
|
|
incl |
21.3 |
25.9 |
4.6 |
1.64% |
|
|
|
|
CPR9 |
3.0 |
9.1 |
6.1 |
|
2.34 |
|
jasperoid, gossan |
incl |
3.0 |
6.1 |
3.1 |
|
|
572 ppm antimony (Sb) |
|
|
7.6 |
19.8 |
12.2 |
|
|
0.51% Zn |
|
|
CPR11 |
7.6 |
16.7 |
9.1 |
|
2.42 |
93.6 g/t Ag |
jasperoid, skarn |
incl |
9.1 |
15.2 |
6.1 |
|
|
0.28% Sb |
|
|
CPR13 |
0.0 |
18.3 |
18.3 |
|
0.40 |
|
intrusive |
incl |
6.1 |
18.3 |
12.2 |
|
0.49 |
|
|
|
|
|
|
|
|
|
CPR14 |
3.0 |
19.8 |
16.8 |
|
0.55 |
|
intrusive |
|
CPR17 |
36.6 |
54.9 |
18.3 |
|
1.72 |
|
gossan, limestone |
incl |
42.7 |
54.9 |
12.2 |
|
2.52 |
|
|
incl |
42.7 |
45.7 |
3.0 |
|
8.92 |
24.8 g/t Ag |
|
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.
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 Clay Peters (Kope Scheelite)
Project
The Project consists of 263 mineral claims located in Mineral
County, Nevada, approximately 11 miles northeast of the town of
Mina. The 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 Clay Peters 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 Clay Peters 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.
Nicola Struyk, P.Geo., 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 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.
For further information please see our public filings at
www.sedar.com and www.sec.gov/edgar.shtml or contact:
Mason Douglas, President and CEO |
Phone: 866-448-1073 |
Email:
info@infrastructurematerialscorp.com |
or visit our website at
www.cementforthefuture.com or |
www.infrastructurematerialscorp.com |
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 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.
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