Ground Survey Covering 6-Km Long Target Area Underway
Vancouver, British Columbia, May 18, 2021 – Inomin Mines Inc. (TSX.V: MINE) reports a 115 line-kilometre (km) ground magnetic survey is underway at the company’s Beaver sulphide nickel project in south-central British Columbia. The survey is designed to delineate drill targets in magnetite hosted nickel mineralization. The survey will encompass 570 hectares in the North Lobe and Spur zones situated on the south-eastern side of the property. Collectively these zones are approximately 6 km long, as defined by airborne magnetic surveys (see survey area map). Scott Geophysics Ltd. of Vancouver, BC is completing the survey.
An airborne EM survey will also be tested on the property to ascertain its viability for defining higher concentrations of nickel mineralization. Should it prove effective, a larger program will be conducted. The results of the geophysical surveys will be used to prioritize targets for drilling later in 2021.
John Gomez, President & CEO of Inomin Mines, says, “The ground magnetic program complements the airborne surveys that have identified several large zones of magnetite hosted nickel mineralization. The new data from the ground survey will assist us to prioritize drill targets. The initial EM test survey may help us source nickel in non-magnetic areas as well as higher grading areas; if so, this would be a real game-changer.”
Inomin’s 100% owned Beaver-Lynx nickel project consists of the Beaver and Lynx properties totaling 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 nickel and cobalt, amenable to conventional extraction methods.
Previous magnetics surveys have proven very effective at delineating magnetite-serpentinite rocks hosting nickel-cobalt mineralization. At Beaver, airborne and ground magnetic surveys have identified four 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 less explored Lynx property (no drilling to date) is geologically similar to Beaver with larger-bearing potential nickel zones as defined by geophysics. Lynx also hosts the highest nickel stream and lake sediment nickel anomalies in the region.
In 2015, SGS Canada Inc. completed a QEMSCAN (Quantitative Evaluation of Minerals by Scanning Electron Microscopy) metallurgical study on a sample from drill core demonstrating that 91% of the nickel is present in a recoverable form. Of the 91% recoverable nickel, 48% is Heazlewoodite, 42% Pentlandite, and 1% forms the nickel alloy awaruite.
The Beaver and Lynx properties are relatively flat and easily accessible via all-season roads as well as a network of forestry roads providing access to most of the properties. Other important nearby infrastructure includes electricity and railroad. Skilled workers, contractors, and suppliers are available locally from the city of Williams Lake situated about 20 kilometres south of Lynx.
A 2020 National Instrument 43-101 technical report on the Beaver and Lynx sulphide nickel project – available on Inomin’s website www.inominmines.com – notes that the Beaver property hosts large volumes of low-grading nickel and cobalt mineralization amendable to conventional floatation extraction techniques.
Beaver Property 2021 Geophysical Program
Above: Map of south-eastern region of Beaver property with magnetite zones hosting nickel and cobalt mineralization in white and magenta.
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. (TSX.V MAE). 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:
John Gomez
Tel. 604.566.8703
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.
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