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PASS LAKE, ON, April 6 /CNW/ - James R. B. Parres, President & CEO of Jiminex Inc. is pleased to report that the Company has added 54 mining claim units to the Misehkow River gold property located in the Pickle Lake gold area, Ontario and near to the Pickle Crow Project of PC Gold Inc. Mr. Parres states that "The high grade gold intersection (1.26 oz./ 43.1 ft. including 4.04 oz/13.1 ft.) recently press released by PC Gold certainly highlights the high grade gold potential for the Pickle Lake gold area. We acquired the Misehkow River claims last fall on the belief that the area has a high potential for discovery of significant gold deposits."
The Misehkow River property has noteworthy historical gold assay value diamond drill intercepts of up to 12.4 grams per tonne over 0.71 metres (0.362 ounces/ton over 2.2 feet) and value/width intercepts of up to 3.84 grams per tonne over 6.4 metres (0.11 ounces/ton over 21.0 feet). Jiminex Inc. now owns a substantial strike length of under-explored iron formation and associated rocks considered to have a high potential for Pickle Lake and Mussewhite-style gold mineralized deposits.
The Misehkow River property presently consists of two blocks of claims covering 22.5 kilometres of iron formation lithology which is a favorable host environment for gold deposits in the Pickle Lake gold area. The new West Block has 47 claim units having an area of 7.5 square kilometres and covering 6 kilometres of iron formation. The East Block now consists of 213 claim units having an area of 34.1 square kilometres and covering 16.5 kilometres of iron formation.
The Misehkow River property was flown with an airborne Versatile Time Domain Electromagnetic (VTEM) and high sensitivity cesium magnetic state-of-the-art geophysical survey in the fall of 2009. The original property and the eastern-third of the west block are covered by this survey. A number of iron formation target areas have been picked for ground and diamond drill follow-up.
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. At present, the company's main exploration activity will be on the Parres and Parres Two properties 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. Jiminex is also present in the Hemlo gold mining camp, Ontario close to the World-Class 21 million ounce Hemlo gold deposit currently being mined by Barrick Gold Corp. The Northern Eagle gold property is considered one of the best target areas in which to locate another Hemlo-style gold deposit and Jiminex can earn a 50% interest from Beaufield Resources Inc. The Misehkow River Property located in the Pickle Lake gold region of Ontario presents opportunity to locate iron formation hosted gold deposits over a large target area of approximately 20 kilometres. Jiminex is actively seeking to locate and acquire new high potential gold exploration properties.
Allan J. Willy, P. Eng., VP Exploration & Director of Jiminex Inc. is the qualified person responsible for the geotechnical content of this news release.
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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 including the annual report or in the filings made by the Company from 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: For further information: Jim Parres, President & CEO, Phone: (807) 977-1679, Fax: (807) 977-1769, Email: email@example.com, Website: http://www.jiminex.com