Shares outstanding: 37,741,321
PASS LAKE, ON, Dec. 6 /CNW/ - James R. B. Parres, President & CEO of Jiminex Inc. is pleased to report that the first phase of diamond drilling at Snow Lake, Manitoba has been completed and samples have been sent to TSL Laboratories Inc., Saskatoon, Saskatchewan. The results are expected in about three weeks time. Mr. Parres comments "The Jiminex management will be press releasing the analytical results of the drill core samples from Snow Lake as soon as we receive and examine them. We hope to be back to finish the second phase of the drill program in early 2011 when the lakes and swamps are frozen."
During this first phase of drilling on the Parres property, eight holes were drilled into 9 VTEM airborne geophysical anomalies recovering 1,847 metres of drill core and a total of 326 samples were sent to TSL laboratories for ICP-MS multi-element geochemical analysis. Included in this 37 element analysis are the elements copper, zinc, silver and gold. Three holes totaling 460 metres, one on the Parres property and two on the Parres Two property, remain to be drilled. These hole collar locations are situated on a swamp and on Herblet Lake, respectively, requiring frozen swamp and lakes which usually exist in the months of January or February.
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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