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Drilling to Test for Nickel-Cobalt Over Large 6-Km Long Area
Vancouver, British Columbia--(Newsfile Corp. - October 6, 2021) - Inomin Mines Inc. (TSXV: MINE) ("Inomin", "MINE" or the "Company") reports drilling is underway at the Company's Beaver-Lynx Nickel-Cobalt property located in the Cariboo region of British Columbia. Approximately 1,200 metres of diamond drilling is planned to test for nickel mineralization within a 5 - 6 kilometre-long area covering the Spur and North Lobe zones. This large exploration area has been defined by MINE's summer 2021 ground magnetic survey and limited previous drilling.
Inomin's 100% owned Beaver-Lynx project is approximately 20,000 hectares, located 15 - 25 kilometres east and southeast respectively of Taseko Mines Ltd.'s Gibraltar Mine in British Columbia's Cariboo Mining Division. Initial exploration and metallurgical studies at Beaver, including geophysical surveys and diamond drilling programs during 2013 - 2014, demonstrated the property's potential to host large areas of near-surface, disseminated sulphide nickel and cobalt, amenable to conventional extraction methods.
The Company recently acquired additional mineral claims to join the Beaver and Lynx claim blocks into a single property (Beaver-Lynx). Mineral claims were also acquired in the Lynx area to cover a strong magnetic target.
Beaver-Lynx Location and 2021 Beaver Ground Magnetic Survey
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Magnetic surveys have proven very effective at delineating magnetite-serpentinite rocks hosting nickel-cobalt mineralization. At Beaver, airborne and ground magnetic surveys have identified five magnetite-serpentinite zones with a cumulative strike length of approximately 10 kilometres. Historic drilling at these zones intersected strongly magnetic shallow-dipping serpentinites hosting nickel mineralization in sulphide form.
Given the positive drill results related to areas of significant magnetite-rich serpentinite rocks, Beaver displays potential to host multiple zones of large, disseminated, sulphide nickel. Cobalt occurs with nickel mineralization ranging from 0.009% to 0.012% cobalt.
The Beaver-Lynx project is situated in relatively flat terrain and easily accessible via all-season roads, as well as a network of forestry roads providing access to most of the property. Other important nearby infrastructure includes electricity (hydro-power) and railroad. Skilled workers, contractors, and supplies are available locally from the city of Williams Lake situated about 20 kilometres south of Lynx.
For further information about the project visit MINE's website at www.inominmines.com.
Inomin Mines Director, L. John Peters P.Geo, a qualified person as defined by NI 43-101, has reviewed and approved the technical information in this news release.
About Inomin Mines
Inomin Mines is engaged in the identification, acquisition and exploration of mineral properties, especially gold, silver and nickel projects that display strong potential to host significant mineral resources. Inomin holds the La Gitana and Pena Blanca gold-silver properties in Mexico. The company owns a 100% interest in the Beaver-Lynx sulphide nickel project in south-central British Columbia, and the Fleetwood zinc-copper-gold-silver VMS project in south-west British Columbia. Inomin also owns 100% of the King's Point gold-copper-zinc project in Newfoundland under option to Maritime Resources Corp. Inomin trades on the TSX Venture Exchange under the symbol MINE. For more information visit www.inominmines.com and follow us on Twitter @InominMines.
On behalf of the board of Inomin Mines:
Inomin Mines Inc.
Per: "John Gomez"
President and CEO
For more information please contact:
Forward-Looking Statements: This news release contains certain statements that may be deemed "forward-looking statements". Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or realities may differ materially from those in forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by law, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/98782