Monpre drill core to be analyzed for iron grade and metallurgy

CIN - TSX.V

VANCOUVER, Jan. 28, 2013 /CNW/ - Canadian International Minerals Inc. (the "Company" or "CIN") is pleased to announce that it has completed its evaluation and interpretation of previous exploration programs and reports on its 100% owned  Monpre Iron Ore Project (MIOP) near Shebandowan, Ontario.

Highlights include the availability of core from diamond drilling in 2008, as well as detailed drill logs and detailed surface geological mapping. While drilling was directed at gold targets, several holes intercepted significant widths of the Monpre Iron formation. Reconnaisance in the area of the 2008 drilling has revealed surface expression of iron formation up to 300 meters in width and over 1 km in length. The Monpre iron formation is magnetite rich with lessor hematite and related non magnetic iron oxide minerals. It is part of the regional Gunflint Iron Formation that is similar to that occurring in the prolific Mesabi Iron Range located approximately 170km to the southwest. Available drill core will be split and analysed for recoverable iron content and metallurgical characteristics.

Drill Hole GC08-07
Downhole Interval (metres) Length   Lithology
From To      
1.6 118.9 117.3   Massive Iron formation, principally magnetite
Including   2.2   - as 6 scattered Lamprophyre dikes, max 0.5 m
118.9 122.0 3.1   Diabase dike
122.0 188.1 66.1   Massive Iron formation, principally magnetite
188.1 203.0 24.9   Syenite dike
203.0 251.0 48.0   Massive Iron formation, principally magnetite
  End      
Total Iron Formation 229.2   Ends in Iron Formation
 
Drill Hole GC08-08
Downhole Interval (metres) Length   Lithology
From To      
2.9 140.2 137.3   Siltstone, with Lamprophyre & Diabase dikes
140.2 244.5 104.3   Banded Iron Formation with scattering of narrow arkose
including        
228.7 233.2 4.5   foliated arkose
244.5 266.0 21.5   Sandstone/siltstone
including        
245.0 250.0 5.0   Cherty Iron Formation
End of hole 266.0      
Total Iron Formation 109.3    
 
Drill Hole GC08-09
Downhole Interval (metres) Length   Lithology
From To      
7.5 167.4 159.9   Iron Formation - dominantly magnetite
167.4 170.5 3.1   Diabase dike
170.5 248.8 78.3   Iron Formation - dominantly magnetite
248.8 253.3 4.5   Lamprophyre dike
253.3 286.4 33.1   Iron Formation - dominantly magnetite
286.4 291.5 5.1   Diabase dike
291.5 332.4 40.9   Iron Formation with 2 narrow (<0.5m) lamprophyre dikes
332.4 334.6 2.2   Syenite dike
334.6 340.5 5.9   Iron Formation - dominantly magnetite
340.5 342.5 2   Syenite dike
342.5 366.8 24.3   Iron Formation - dominantly magnetite
366.8 395 28.2   Siltstone
  End      
Total Iron Formation 342.4    

 

The MIOP was first mentioned in Ontario Department of Mines reports dating 1895 to 1910.   Comprehensive geological mapping and diamond drilling was conducted in 1956-57 with extensive bench scale metallurgical studies focused on producing a commercial magnetite concentrate were conducted up to 1972. A worldwide recession in 1973 preceded the demise of the Ontario iron ore mining and steel industry.

The MIOP directly adjoins the Inco`s former producing Shebandowan nickel, copper, platinum group metal mine that produced between 1972 until closure in 1998. In the 1980`s Inco did extensive mine area exploration for base and precious metals, which included all of the Monpre project area now held by CIN. While this work was not directed toward iron ore development, airborne and ground magnetic surveys confirmed and expanded the indicated extent of Monpre iron formation well beyond the known exposed surface expression that had been drilled in the 1950s. A 1958 resource estimate outlined 100 million tons grading 29.1% soluble iron (Vincienne, B., P. Eng, 1958). The reader is cautioned that this historical resource is not compliant with the terms if N.I. 43-101, and therefore is not to be relied upon. The term "soluble iron" refers to the analytic technique prevalent at the time: XRF results in new assays return higher values for iron than the acid soluble iron methods, and for this reason the historical assay values will be of limited value in calculating a current resource estimate. This resource was based on 41 diamond drill holes totalling 23,140 feet, and was contained within a proposed open pit, with a stripping ratio of 1.07 to 1. The drill hole collars were surveyed and tied in to legally surveyed patented claim boundaries. Several iron survey pins have been located in recent prospecting, and thus the historic drilling locations can be recovered with a relatively high degree of confidence. Detailed geological mapping at 1:4800 scale covering the area of interest has been preserved, and CIN has also recovered copies of logs of 30 of the drill holes. In 1968, extensive bench scale tests at Lakefield Research found that a concentrate of approximately 67% soluble iron could be produced at a minus 100 mesh grind. (Halet, R.A., Ph.D, P.Eng., 1972).

Access is exceptional: the deposit straddles a forest service road only 6 km from a major transportation corridor which includes Provincial Highway 11, Canadian National Railroad mainline, and major natural gas and electrical transmission lines. No lakes or watercourses are in the area of the deposit: a distinct advantage the project has over several proposed iron ore developments in Ontario. The project area lies approximately 60 kilometers west of Thunder Bay, a major logistical center for mining and logging operations in western Ontario.

The company is pleased to introduce its new web site, which is now live. The old web site will remain available for a short period while the transition is completed.

The technical data in this news release has been reviewed by Thomas Hasek, P. Eng. a Qualified Person under the terms of N.I. 43-101.

On behalf of the Board of Directors,

"Michael E. Schuss"

Michael E. Schuss
President and Chief Executive Officer

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.

CAUTION CONCERNING FORWARD-LOOKING STATEMENTS: Some of the statements contained herein may be forward-looking statements which involve known and unknown risks and uncertainties.  Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward looking statements that involve various risks.  The following are important factors that could cause the Company's actual results to differ materially from those expressed or implied by such forward looking statements: changes in the world wide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital. There can be no assurance that forward-looking statements will prove to be accurate as actual results and future events may differ materially from those anticipated in such statements.  Canadian International Minerals undertakes no obligation to update such forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on such forward-looking statements

SOURCE: Canadian International Minerals Inc.

For further information:

For further information on Canadian International Minerals Inc. please visit the new company website or contact Michael E, Schuss at 604-241-2254.