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PASS LAKE, ON, Dec. 7 /CNW/ - James R. B. Parres, President & CEO of Jiminex Inc. is pleased to report that the first phase of diamond drilling at Hemlo, Ontario is underway and 134 drill core sample results for the first hole, 10NE-01, and part of hole 10NE-02 have been received from Accurassay Laboratories, Thunder Bay, Ontario. Mr. Parres comments "The recent analytical results have interesting geochemical signatures which will assist in directing the future exploration on the property. Systematic drill testing of the remaining targets is expected to continue up to the holiday season break and will resume in early January 2011. Jiminex management continues to have confidence that the Northern Eagle property could have a high potential to host Hemlo-style mineralization."
At the Northern Eagle gold property, Hemlo region, Ontario, three diamond drill holes have been completed to date recovering a total of 1,161 metres of NQ2 core. These holes tested one target selected by the Jiminex Inc. management and two Titan 24 ground geophysical targets recommended by the Quantec Geoscience. A total of 134 sample results have been returned for hole NE10-01 and 72 for the 123 samples taken of hole 10NE-02. These samples were analyzed for gold using the fire assay technique and an additional 34 elements (including Hemlo-style mineralization pathfinder elements of antimony, arsenic, mercury, vanadium, potassium, molybdenum and barium) using an ICP-AR multi-element geochemical procedure. Hole 10NE-01 tested a section of the barite-alteration zone never previously tested at a shallow depth. The Accurassay results are similar to historical sampling by other companies on the barite-alteration zone with several slightly anomalous gold values up to 80 parts per billion (ppb) and several samples variously having moderately anomalous trace element values of antimony up to 39 parts per million (ppm), arsenic up to 321 ppm, vanadium up to 96 ppm, potassium up to 1374 ppm with molybdenum and mercury not detected. However, mercury was detected up to 2 ppm and molybdenum up to 28 ppm outside of the described barite-alteration zone.
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 World-Class 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 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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