Shares outstanding: 24,652,866 www.jiminex.com
PASS LAKE, ON, March 4 /CNW/ - James R. B. Parres, President & CEO of Jiminex Inc. is pleased to report that Condor Consulting Inc., Lakewood, Colorado has been engaged to interpret the results of the Geotech Ltd. Mega Versatile Time Domain Electromagnetic (Mega VTEM(35)), and high sensitivity cesium magnetic, state-of-the-art airborne geophysical survey system recently flown over the Parres and Parres Two properties, Snow Lake, Manitoba. Condor Consulting will identify and prioritize the Mega VTEM(35) anomalies and recommend targets for diamond drill testing. Rodren Drilling Ltd., West St. Paul, Manitoba has been contracted to diamond drill the Mega VTEM(35) anomalies, the drilling anticipated to begin early in the second quarter.
The Jiminex Snow Lake properties remain untested either by historical drilling or geophysical surveying to depths exceeding 150 metres. The Mega VTEM(35) airborne geophysical system can detect conductive geological zones such as copper-zinc sulfide mineralized rock to depths of 500 to 600 metres, or even deeper depending on the geological characteristics of the survey region. Contemporary airborne systems have opened up exploration to depths unrealized a decade or two ago, and can result in new discoveries even within old mining camps like Snow Lake. Volcanogenic massive sulfide (VMS) deposits such as found at Snow Lake can be stacked and occur at varying depths from the surface to 100's of metres deep. For example, at Snow Lake, HudBay Minerals' new Lalor Lake copper-zinc VMS discovery and associated gold deposit zones begin at 800 metres deep, continuing down 500 or more metres.
Jiminex Inc. will be exhibiting in the upcoming Investors Syndicate at the Prospectors and Developers Association of Canada International Convention March 7-10, 2010 in Toronto, Ontario. Please visit our Booth No. 3327, management will be there to answer investor questions. If you would like to be added to Jiminex's news distribution list, please send your name (optional) and email address to firstname.lastname@example.org.
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.
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.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS
THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
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