TSX Venture Exchange
Shares Outstanding: 174,519,527
TORONTO, Dec. 15 /CNW/ - NWM Mining Corporation (the "Company" TSX-V: NWM) is pleased to announce commencement of an anticipated 25,000 metre drill program at the 100% owned Lluvia de Oro and La Jojoba mine in the State of Sonora, Mexico.
Initially the drilling program will focus on increasing Measured and Indicated resources at the Lluvia de Oro mine. This will be followed by exploration drilling on previously identified drill targets adjacent to Lluvia's "Creston" pit and along the northeast trending Lluvia Shear Zone where trenching and drilling have traced the mineralization over a strike length of 1.7 kilometres. This secondary exploration program will concurrently test the extent of a Lower Zone of gold-copper mineralization which was first identified on the Lluvia de Oro property in 1997. There are seven distinct Zones of interest that characterize currently identified exploration potential on the four claims of Lluvia de Oro. These Zones in order of priority are: Southeast Lobe of Creston Pit, Northeast Pit Extension, Lluvia Shear, Lower Zone, El Cobre Zone, El Pozo Zone and the Este target Zone.
Drilling will also be undertaken on the La Jojoba project, located four kilometres to the west of Lluvia de Oro. Drilling at La Jojoba will concentrate on three previously identified targets: the Campamento Zone which is located one km to the southwest of the Northeast Zone (which hosts the currently delineated gold and copper resources), the North Zone and the Papalote Zone. The latter Zones lie approximately 500 metres north and northwest respectively of the main mineralization already outlined in the Northeast Zone. Further exploration targets at La Jojoba include the South-central Zone and the Loma Colorada target area.
Upon completion of the drilling, a new reserve estimate will be completed for both projects.
Previous soil geochemical sampling, enzyme leach geochemistry and prospecting at the La Jojoba and Lluvia de Oro properties has disclosed additional potential gold/copper targets. These other targets require additional geological definition and will also be explored and perhaps drilled at a later date.
To view La Jojoba and Lluvia de Oro properties, please, visit: http://files.newswire.ca/843/NWM_Mining_projects.pdf
Mr. Rodney A. Blakestad, C.P.G., is the Qualified Person in compliance with National Instrument 43-101 of the Canadian Securities Administrators for this press release and has reviewed and approved the technical and scientific disclosure contained herein.
CAUTIONARY STATEMENT ON FORWARD-LOOKING INFORMATION
This news release includes "forward-looking information"; as such term is defined in applicable securities laws. The forward-looking information includes, without limitation, the success of exploration activities and other similar statements concerning anticipated future events, conditions or results that are not historical facts. These statements reflect management's current estimates, beliefs, intentions and expectations; they are not guarantees of future performance. The Company cautions that all forward looking information is inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond the Company's control. Such factors include, among others, risks and uncertainties relating to exploration and development; the ability of the Company to obtain additional financing; the need to comply with environmental and governmental regulations; political and economic instability and general civil unrest in Mexico, if any; potential defects in title to the Company's properties; fluctuations in currency exchange rates; fluctuating prices of commodities; operating hazards and risks; competition; and other risks and uncertainties, including those described in the Company's other regulatory filings filed with the Canadian Securities Administrators and available at www.sedar.com. Accordingly, actual future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. All statements are made as of the date of this news release and the Company is under no obligation to update or alter any forward-looking information.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
SOURCE NWM Mining Corporation
For further information: For further information: NWM Mining Corporation at (416) 364-6799