International Minerals Corp.

  • WKN: 893760
  • ISIN: CA4598751002
  • Land: USA

Nachricht vom 21.03.2012 | 00:03

International Minerals Announces Metallurgical and Drill Results from Goldfield Project, Nevada. d Intercepts include 40m at 6.8g/t


International Minerals Corp.  / Key word(s): Research Update

21.03.2012 00:03

Release of an ad hoc announcement pursuant to Art. 53 KR
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NEWS RELEASE 

International Minerals Announces Metallurgical and Drill Results from
Goldfield Project, Nevada. Gold Intercepts include 40m at 6.8g/t
                           
Scottsdale, Arizona, March 20, 2012 - International Minerals Corporation
(Toronto and Swiss stock exchanges: 'IMZ') announces additional drill
results from its 100%-owned Goldfield gold project in southern Nevada where
IMZ anticipates completing a feasibility study in the third quarter of
2012. The Company is also pleased to announce positive results from a
series of metallurgical tests on mineralized material from the project.

The Goldfield Project comprises three main mineralized areas, Gemfield,
McMahon Ridge and Goldfield Main (see attached map in Appendix 1). In
addition the property contains several identified exploration targets which
are currently being evaluated.

The new drill assay results include reverse circulation ('RC') and core
drill holes designed to define, extend and upgrade the existing mineral
resources at the Gemfield deposit as part of an ongoing feasibility study
that is scheduled to be completed in the third quarter of 2012. Gemfield
represents the largest percentage of the currently known mineral resources
at the Goldfield project.

New assay results for 24 core holes totaling¬ 5,619m and 62 RC drill holes
totaling 8,590m are summarized in Appendix 2.  The samples were submitted
to the Inspectorate laboratory in Reno, Nevada for sample preparation and
analysis, along with standards of known gold grade for quality control.

To date IMZ has reported drill assay results for a total of 244 RC and 43
core drill holes totaling 56,842m at the Goldfield project.

Definition/Extension/Exploration Drilling Program 

Highlights of the new assay results from the Gemfield area include the
following intercepts:
* 24.4m at 3.1 g/t in drill hole Gemc006 (core)
* 12.2m at 3.1 g/t in Gemc 025 (core)
* 38.1m at 2.1 g/t in Gemc 026 (core)
* 50.3m at 1.2 g/t in Gemc 029 (core)
* 67.1m at 2.6 g/t in Gemc 030 (core)
* 25.9m at 2.7 g/t in Gem 434 (RC)
* 44.2m at 1.7 g/t in Gem 436 (RC)
* 39.6m at 6.8 g/t in Gem 443 (RC)
Note: All uncut average gold grades; true widths are between 70% and 100%
of drill intercept width.

The Extension Drilling program has been focused in the southeast part of
the Gemfield deposit as well as the down-dip extension to the west of
Gemfield, the latter program being designed to define the distance that the
State Highway 95 needs to be relocated so as not to sterilize any potential
future extensions of the Gemfield deposit.
The Definition Drilling program has two main aims: (a) to upgrade areas of
inferred resources to the measured or indicated category: and (b) to better
define the known high-grade zones within the deposit. This definition
drilling will help increase the quality of the resource estimation that is
being conducted as part of the ongoing feasibility study for the Goldfield
project.

Metallurgical results:

Final results have been received for column leach tests on composites
generated from the Gemfield and McMahon Ridge deposits.  The results show
that the Gemfield composites returned metallurgical gold recoveries of 85
to 90%, whilst the composites from McMahon Ridge gave metallurgical gold
recoveries from 36 to 79%.

Overall metallurgical recovery to be used in the ongoing feasibility study
has not yet been defined by IMZ, but is expected to be in the range of 80
to 90% for Gemfield and 60 to 70% for McMahon Ridge.

The composites were generated from down-hole intercepts of similar grade
and lithology and submitted to McClelland Laboratories, Inc. in Reno,
Nevada for column leach testing, where they were crushed to 100% passing
12.5mm and leached for 60 days.

   Table 1. Gemfield Deposit Metallurgical Testwork Results
Composite Description Head Grade (g/t) Gold1 Gold Recovery (%)
Low Grade 0.2 - 0.5 g/t gold,    0.38 86.8
Medium Grade  0.5 - 1.5 g/t gold   1.16 89.7
High Grade  1.5 - 7 g/t gold 4.04 84.9
Very High Grade   Greater than 7 g/t 7.90 90.2
Note 1: Head grade is a back-calculated grade using gold extracted in
solution and final tail assays.


Table 2. McMahon Ridge Deposit Metallurgical Testwork Results
Composite Description 2 Head Grade (g/t) Gold1 Gold Recovery (%)
Low Grade Low Cyanide Soluble 0.15 - 0.55 g/t gold and 
CN Sol/FA ratio 0 - 0.33 0.38 52.6
Low Grade Medium Cyanide Soluble 0.15 - 0.55 g/t gold and 
CN Sol/FA ratio 0.34 - 0.66 0.31 61.3
Low Grade High Cyanide Soluble 0.15 - 0.55 g/t gold and 
CN Sol/FA ratio 0.67 - 1 0.28 78.6
Medium Grade Low Cyanide Soluble 0.55 - 1.5 g/t gold and 
CN Sol/FA ratio 0 - 0.33 1.11 36.0
Medium Grade Medium Cyanide Soluble 0.55 - 1.5 g/t gold and 
CN Sol/FA ratio 0.34 - 0.66 0.81 61.7
Medium Grade High Cyanide Soluble 0.55 - 1.5 g/t gold and 
CN Sol/FA ratio 0.67 - 1 1.09 78.6
High Grade Low Cyanide Soluble Greater than 1.5 g/t gold and 
CN Sol/FA ratio 0 - 0.33 3.90 54.6
High Grade Medium Cyanide Soluble Greater than 1.5 g/t gold and 
CN Sol/FA ratio 0.34 - 0.66 4.01 60.6
High Grade High Cyanide Soluble Greater than 1.5 g/t gold and 
CN Sol/FA ratio 0.67 - 1 7.80 56.0
Note 1: Head grade is a back-calculated grade using gold extracted in
solution and final tail assays.
Note 2: CN Sol/FA ratio refers to the results of laboratory cyanide shake
tests compared to gold fire assay results. Industry-wide, the cyanide shake
test is considered to be a good indicator of a sample's amenability to
cyanide leaching, although it is not considered a true metallurgical test
and only provides indicative results suitable for metallurgical domain
definition.

 
Feasibility Study Update

The independent feasibility study on the Gemfield and McMahon Ridge
deposits will be carried out by Micon International Limited of Toronto,
Canada and is expected to be complete in mid-2012, and will determine the
economic viability of two open pit mines providing feed to a central heap
leach process operation. Data relative to the Goldfield Main deposit is not
being included in the current feasibility study as IMZ believes the known
mineralization is not amenable to heap leaching. Data from Goldfield Main
deposit will, however, be analyzed in the near future as part of an
envisaged project expansion to include a milling scenario with agitation
leaching.

Environmental and Permitting

The Environmental Baseline Study (EBS) has advanced significantly in the
following areas: hydrogeology/hydrology, geochemistry, archaeology,
selected biological aspects and socioeconomic baseline. The remaining field
studies will be completed during the spring/early summer of 2012 with final
reporting in the third quarter. The Plan of Operations (PoO) will be
developed based on the Feasibility Study. Water rights acquisition for the
project is also in progress.

IMZ initiated discussions with the US Bureau of Land Management (BLM)
during the second half of 2011. The key message was that BLM has a
fast-tracking mechanism in place for permitting in order to expedite
project development, with timelines ranging from 12 to 18 months.
The PoO and EBS have been targeted for completion and submission to the BLM
in the summer of 2012, and subject to their approval, these milestones will
trigger the initiation of the permitting process, which is anticipated to
be completed by the end of calendar year 2013.
There have also been meetings and consultation with the appropriate
authorities of Esmeralda and Nye Counties, as well as local Goldfield and
Tonopah residents. Both the residents and the county officials have
continued to provide support and positive feedback for the Goldfield
project.

Existing Goldfield Project Mineral Resources

The current estimated mineral resources for the overall Goldfield project
are:

Gemfield and McMahon Ridge Deposits

* 826,000 ounces of Measured and Indicated resources, contained in 22.7
million tonnes ('Mt') at an average grade of 1.1 g/t gold; and

* 25,000 ounces of Inferred resources, contained in 1.1 Mt at an average
grade of 0.7 g/t gold.

Goldfield Main Deposit

* 421,000 ounces of Measured and Indicated resources, contained in 8.5 Mt
at an average grade of 1.5 g/t gold; and

* 360,000 ounces of Inferred resources, contained in 6.6 Mt at an average
grade of 1.7 g/t gold.

The gold cut-off grades used were 0.34 g/t for Gemfield and McMahon Ridge
and 0.4 g/t for Goldfield Main.

Mineral resource estimates at the Goldfield project have been conducted
separately for the Goldfield Main deposit and the Gemfield/McMahon Ridge
deposits:

* at Goldfield Main, the mineral resources were estimated in 2011 by
Qualified Person ('QP') R.Mohan Srivastava P.Geo (see IMZ press release
dated February 1st, 2011).

* at Gemfield and McMahon Ridge, the mineral resources were estimated in
2005 by Watts, Griffis and McOuat, with John R. Sullivan, P.Geo as the QP.


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Information and Explaination of the Issuer to this News:

About International Minerals

International Minerals is a silver-gold producer, explorer and developer
with silver-gold production from its 40%-owned Pallancata Mine in Peru,
which is operated by Hochschild and in 2011 was one of the top-10 primary
silver mines in the world. Production for Pallancata in calendar year 2011
was approximately 8.8 million ounces of silver and 34,000 ounces of gold
(on a 100% project basis). Also in Peru and partnered with Hochschild is
the Inmaculada project, which is scheduled to be in production by December
2013 and produce approximately 124,000 ounces of gold and 4.2 million
ounces of silver a year on a 100% project basis (IMZ owns 40%).

In addition to Inmaculada and Pallancata, IMZ also owns a 100% ownership
interests in advanced stage gold projects in Nevada (Goldfield and
Converse) and variable interests in gold projects in Ecuador (Rio Blanco
100% and Gaby 60%).

IMZ also holds a 3% NSR royalty from Barrick Gold Corporation's Ruby Hill
gold mine in Nevada, which produced approximately 128,000 gold ounces in
2011.

IMZ is listed on the Toronto Stock Exchange (since 1994) and the Swiss
Stock Exchange (since 2002).

The technical information reported in this news release was reviewed by
IMZ's Qualified Person, VP Corporate Development, Nick Appleyard.


For additional information, contact:

In North America 
Paul Durham, Vice President Corporate Affairs Relations       
Tel: +1 203 940 2538

In Europe
Oliver Holzer, Marketing Consultant
Tel: +41 44 853 00 47

Or email us at: IR@intlminerals.com                                      
Internet Site: http://www.intlminerals.com

To acess this news release from IMZ's website, please click this link:
 http://www.intlminerals.com/newsreleases.php.

Cautionary Statement:

Some of the statements contained in this release are 'forward-looking
statements' within the meaning of Canadian securities law requirements.
Such forward-looking statements involve known and unknown risks,
uncertainties and other factors that may cause our actual results,
performance or achievements to differ materially from the anticipated
results, performance or achievements expressed or implied by such
forward-looking statements. Forward-looking statements in this release
include statements regarding mineral resource estimates and planned
feasibility studies.  Factors that could cause actual results to differ
materially from anticipated results include risks and uncertainties such
as: risks of estimating mineral resources, risk of scale-up of laboratory
metallurgical testwork, risks of timely completion of feasibility and other
technical studies and other risks and uncertainties detailed in the
Company's Renewal Annual Information Form for the year ended June 30, 2011,
which is available at www.sedar.com under the Company's name. The Company
disclaims any intention or obligation to update or revise any
forward-looking statements, whether as a result of new information, future
events or otherwise.




21.03.2012 News transmitted by EquityStory AG. 
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Language:               English
Company:                International Minerals Corp.
                        7950 East Acoma Street
                        AZ 85260 Scottdale
                        United States
Phone:                  001 480 483 9932
Fax:                    001 480 483 9926
E-mail:                 IR@intlminerals.com
Internet:               www.intlminerals.com
ISIN:                   CA4598751002
Swiss Security Number:  893760
Listed:                 Freiverkehr in Berlin, München; Open Market in
                        Frankfurt; Toronto, SIX
 
End of Announcement                             EquityStory News-Service
 
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