RENO, NV, April 19 /CNW/ - Infrastructure Materials Corp. (NASDAQ OTC-BB: Symbol IFAM) (the "Company") is pleased to announce the assay results from Phase III of its drill program completed on the Blue Nose Limestone Project. The Blue Nose Project consists of 301 mineral claims covering over 6,000 acres located 90 miles northeast of Las Vegas, Nevada in Lincoln County.
Management is very pleased with the results of Phase III, consisting of six drill holes with several of the holes encountering over 250 feet of cement grade limestone. Drill holes BNR-30 and 31 were not drilled deep enough to intercept the lower dolomite unit that is at the base of the good grade limestone on the property, but they did show nearly 250 feet of cement grade material. Future holes will drill to the basal dolomite contact to fully test the thickness of the cement grade limestone on the Blue Nose project.
Drill holes BNR-32 and 34 were drilled into the lower dolomite and indicate a locally thinner section of the limestone due to uplifting along at least one recognized fault. These holes had over 250 feet of good grade limestone in them from the surface. Drill hole BNR-35 was drilled approximately 250 feet north of BNR-34 and indicates a substantially greater depth to the basal dolomite, which suggests another fault offset.
This drilling also suggests that several of the earlier exploration holes located in the northeast part of the project did not drill completely through the good grade limestone. Future holes will be drilled deeper to intercept the basal dolomite unit to better assess the cement grade limestone on the Property.
Below is a brief summary of the grades of calcium carbonate (%) over depth in the six holes that made up Phase III of the program.
- BNR30: 0'-25' - 93.05%; 240'-500' - 98.06%
- BNR31: 150'-155' - 94.02; 165'-170' - 88.63%; 220'-225' - 90.10%;
250'-500' - 96.49%
- BNR32: 75'-80' - 95.64%; 145'-165' - 88.05%; 170'-195' - 92.88%;
200'-250' - 95.60; 255'-260' - 90.28%; 270'-480' - 96.58%; 505'-
510' - 88.38%; 530'-535' - 93.81%; 550'-555' - 88.23%.
- BNR33: 5'-10' - 87.34%; 20'-25' - 91.63; 30'-185' - 97.26%; 190'-
270' - 95.31%; 275'-365' - 96.48%
- BNR34: 5'-60' - 99.46%; 65'-70' - 95.46%; 75'-105' - 96.21%; 240'-
245' - 88.57%; 255'-275' - 93.30%; 280'-345' - 98.93%; 350'-690' -
98.06%; 695'-725' - 95.12%; 730'-745' - 93.31%
- BNR35: 60'-65' -- 89.85%; 165'-170' - 89.03%; 180'-210' - 89.15%;
215'-250' - 92.11%; 270' - 595' - 97.06%; 600'-620' - 95.11%; 635'-
675' - 93.86%; 685'-715' - 92.23%; 720' - 775' - 96.06%
Results continue to confirm the presence of cement grade limestone. Management believes these latest calcium oxide values validate the Company's plan to aggressively develop the Blue Nose Project through to pre-feasibility. Subject to BLM approval of a Plan of Operation, an extensive drill program to define the resource is expected to begin in late spring or early summer on the Blue Nose Project.
Management is also pleased to announce the launch of its new website. This new website was designed to update the existing corporate identity package. Management believes it is important to provide the investment community with a clean, easy to use website with up to date information and a visual theme that is consistent with the goals of the Company. Management encourages investors to visit our new site at www.infrastructurematerialscorp.com.
Management is encouraged with the timing of the development of the Blue Nose project. Though immediate demand for cement has been low given present recessionary conditions, future forecasts would suggest a recovery at a time when our project's development will conclude. The Portland Cement Association published an Economic Research 25-year Forecast which cites market factors that could propel domestic powder demand upwards of 192 million metric tons by 2035. This study suggests that climate-change legislation, plant emissions regulations, and sustained high oil prices may result in the elimination of wet process cement, forcing closure of a significant portion of domestic mill capacity. The Portland Cement Association further forecasted growth in cement usage in the next five years with levels projected to hit 122 million metric tons by 2015. As a result, the study suggests a potential for a 100 million-metric ton domestic supply gap materializing by 2035. This forecast goes on to speculate that large investment in new import terminals and new domestic capacity will be required to close the gap. This forecast is well timed to coincide with our project's expected feasibility in 2015.
Infrastructure Materials Corp. is an exploration stage mining company that is directing its efforts to the exploration and development, if warranted, of cement grade limestone deposits in strategic locations in the United States and Canada.
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: Mason Douglas, President, Phone (866) 448-1073, Fax (775) 322-4458, Email: email@example.com or visit our website at www.infrastructurematerialscorp.com