RENO, NV, Sept. 14 /CNW/ - Infrastructure Materials Corp (NASDAQ OTC-BB: Symbol IFAM) (the "Company") is pleased to announce results from the last 10 holes of a 24 drill hole program (7,000 ft) completed on the Morgan Hill Limestone Project. The property contains 113 mineral claims covering approximately 3 square miles and located 20 miles west of Wells, Nevada in Elko County.
The drill program of 24 reverse circulation holes was designed to evaluate three adjoining sections that had been identified from surface mapping and sampling completed in the fall of 2008. Our objective was to locate one or more areas on the property with potential for open pit development of cement grade limestone to support a cement plant for long term production. The assay results from the last 10 drill (MHR15-MHR24) holes are set out below.
These holes are located in the north east part of the claim group. Compilation of drill cross sections and additional detailed surface geology at a scale of 1"=200' indicate two potential high grade (100% CaCo3) zones and 2 cement grade zones. Approximate dimensions of this target area from our recent detailed surface geology indicate a possible zone 6000 feet long by 2000+ feet wide and 200+ feet thick of cement grade material.
Below is a brief summary of the grades of calcium carbonate (%) (CaCo3) over depth in the 10 holes:
- MHR15: 165'-210'; 93%
- MHR16: 40'-150'; 98%; 165'-195'; 98%; 215'-245'; 93%; 260'-285';
- MHR 17: No significant value
- MHR18: 20'-140'; 97%*
- MHR19: - 50'- 180'; 97%; 230'-300'TD; 96%
- MHR20: 250'-295'; 90%
- MHR21: 0'-40'; 90%; 70'-110'; 96%; 195'-265'; 98%
- MHR22: 95'-160'; 94.9%; 235'-280TD; 98%;
- MHR23: 30'-135'; 95%; 150'-195'; 96%
- MHR24: 125'-190'; 93%; 200'-300'; 92%
The economic units intercepted in these 10 holes and those announced in the release dated August 4, 2009 are dipping steeply at the surface and repeated several times based on recent detail mapping completed after the drill results were received. Angle drilling is required to confirm the actual existence, thickness and continuity of these units.
Management believes this property is situated to competitively reach markets in Northern California, Reno, Southern Idaho, and Utah.
Mr. Todd Montgomery, CEO of Infrastructure Materials Corp., speaking to the cement market in the U.S. said recently, "We believe that the cement industry is poised toward recovery. Analysts are saying the housing market, which represents 30% of cement consumption, has hit the bottom and is on the verge of recovery, with sales of previously owned homes rising for the third consecutive month in June. Our team expects that once inventories of pre-owned homes deplete, new home starts will be on the rise. This, in conjunction with the Obama administration's pledge to spend $180B over two years on critical repairs to the country's crumbling roads and infrastructure, tells our team that we are well position to take advantage of the upcoming economic recovery and the ensuing rise in cement demand."
Infrastructure Materials Corp. is an exploration stage mining company that is directing its efforts to the development of cement grade limestone deposits in strategic locations in the United States.
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. The reader is cautioned not to place undue reliance on forward-looking statements.
SOURCE INFRASTRUCTURE MATERIALS CORP.
For further information: For further information: Scott Koyich, IR, Mason Douglas, President, Phone (866) 448-1073, Fax (866) 786-6415, email firstname.lastname@example.org, or visit our website at www.infrastructurematerialscorp.com