Vancouver – Step-out drilling at International Northair Mines‘ (INM-V) La Cigarra project in Mexico has intersected 53.7 metres of 87.1 grams silver per tonne, extending the strike length of the main San Gregorio zone by 100 metres.
More promising, however, are assays from the less-explored Las Carolinas zone 1.1 km to the southeast. Core drilling there returned 48.05 metres of 140.6 grams silver per tonne, including a 22.1-metre section grading 263 grams silver.
Both zones remain open along strike and down dip.
“The results from these two zones, along with the intervening 1.1 km of untested ground, provide excellent immediate upside exploration potential,” said Fred Hewett, president and CEO of Northair, in a prepared statement.
The company has finished releasing assays for all six holes of a 1,500-metre drill program completed at the project in February, and investors will now have to wait for the results of a 3,000-metre expansion program started in late March.
Drilling will cover all three known mineralized zones at La Cigarra but will mostly focus on the central San Gregorio zone. Smaller programs will be carried out on Las Carolinas and the third zone, La Borracha, roughly 1 km to the northwest of San Gregorio.
Northair optioned a 100% interest in the property in April 2009 from private vendors for staged payments over five years totalling US$450,000. The company says the 335-hectare property is home to dozens of small- to medium-sized old workings, but there is no evidence of any modern exploration having been previously carried out on the project.
La Cigarra lies within what Northair believes is a prospective geological belt on the eastern flanks of the Sierra Madre Occidental in Chihuahua State. The epithermal, low-sulphidation silver mineralization occurs within altered rhyolite intrusives and sediments, including shale, siltstone and sandstone.
Northair shares are up from 10¢ in February and at presstime on March 31, were trading up 13¢ to 63¢ on heavy volume of 4.9 million shares.
Be the first to comment on "International Northair jumps on silver assays"