PASS LAKE, ON, Feb. 3 /CNW/ - James R. B. Parres, President & CEO of
Jiminex Inc. is pleased to provide an update on the current exploration
Geochemical analyses from drill samples from the Snow Lake, Manitoba
property have been received from TSL Laboratories, Saskatoon,
Saskatchewan and have been evaluated by the Company. Highlights
include a 0.25 metre section from drill hole P10-3 which returned 1.8%
copper and 1.51 grams per tonne gold from an intermediate volcanic tuff
located at a hole depth of 132.50 to 132.75 metres. Mr. Parres
commented "The interesting copper intersection in hole P10-3 as well as
the conductive zones containing anomalous geochemical values in copper
and/or zinc in holes P10-1, -2, -3 and -5 require further evaluation.
We intend to undertake further drilling to follow up on this copper
intersection along strike as well as on several other anomalies not
accessible before freeze-up. Meanwhile, we are continuing with two
drills active at our Hemlo property and are in the process of preparing
a winter drill camp for our Pickle Lake drill program."
The majority of the conductors were determined to be 0.5 to 1.5 metre
semi-massive (20-50%) pyrrhotite and pyrite zones in
andesitic-dacitic-rhyolitic volcanic rocks. Six conductive zones in 4
holes had geochemically-anomalous values (greater than 500 ppm for
copper and greater than 1000 ppm for zinc) in copper and/or zinc over
widths varying from 0.25 up to 1.55 metres. The first phase of drilling
on the Parres property in late 2010 consisted of drilling eight holes
located into 9 VTEM airborne geophysical anomalies. Drill core
totaling 1,847 metres was recovered and a total of 326 samples were
sent to TSL laboratories for ICP-MS multi-element geochemical analysis.
Copper, zinc, silver and gold were included in the 37 element
At the Hemlo, Ontario Northern Eagle gold property, being optioned by
the Company from Beaufield Resources Inc., diamond drilling continues
testing the Titan 24 deep-penetrating ground geophysical survey
anomalies and the barite/alteration zone using both a small and a
larger drill rig. Since commencing the drilling in November 2010,
approximately 3,565 metres of core has been recovered from 6 holes
(10NE-01 to 04 and 11NE-05, and -06). The large rig is now preparing
to drill hole 11NE-08 with a planned depth of approximately 1,500
metres and the small rig has recently began hole 11NE-07. The small rig
will continue to test the Titan 24 anomalies to check for possible
narrower gold mineralized zones brought up nearer to the surface, in a
manner similar to the historic Corona discovery zone at the Hemlo
deposit. The larger drill rig will continue to test the
barite/alteration horizon and fault structures to depths in the range
of 600 to 900 metres or deeper. These depths are necessary in order to
test for a possible large Hemlo-style replacement gold mineralized body
underneath the Northern Eagle property.
Jiminex Inc. was listed as a junior resource company on the TSX venture
exchange in late August 2009 and is focused on gold exploration in
Canada. The Company has acquired three high potential gold properties
located in three separate well-known gold and copper-zinc mining
camps. The Northern Eagle property is located in the Hemlo gold mining
camp, Ontario close to the 21 million ounce Hemlo gold deposit
currently being mined by Barrick Gold Corp. This property is considered
one of the best target areas in which to locate another Hemlo-style
gold deposit and Jiminex is earning a 50% interest from Beaufield
Resources Inc. The 100%-owned Misehkow River property is located in
the Pickle Lake gold mining region of Ontario near to the Pickle Crow
Project of PC Gold Inc. and in the same general region as the
Musselwhite Mine currently being mined by Goldcorp Inc. Misehkow River
presents an opportunity to locate significant iron formation hosted
gold deposits over a large target area of approximately 30 kilometres.
The 100% owned Parres and Parres Two properties are located in the
well-known Snow Lake copper-zinc and gold mining camp of Manitoba where
the major new Lalor Lake copper-zinc and gold deposit discovery of
HudBay Minerals Inc. is actively being explored and developed.
Allan J. Willy, P. Eng., VP Exploration & Director of Jiminex Inc. is
the qualified person responsible for the geotechnical content of the
Company's public information.
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This press release may contain forward-looking statements that are
subject to known and unknown risks and uncertainties that could cause
actual results to vary materially from targeted results. Such risks and
uncertainties include those described in the Company's periodic reports
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time to time with securities regulations. The Company undertakes no
obligation to publicly release the result of any revision of these
forward-looking statements to reflect events or circumstances after the
date they are made or to reflect the occurrence of unanticipated event.
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SOURCE Jiminex Inc.
For further information:
Jim Parres, President & CEO
Phone: (807) 977-1679
Fax: (807) 977-1769