Vancouver, British Columbia, February 1, 2022 – Inomin Mines Inc. (TSX.V: MINE), (“Inomin”, “MINE” or the “Company”) reports a 118 line-kilometre (km) ground magnetic survey will begin in early February at the Company’s Lynx sulphide nickel property in south-central British Columbia. The survey is designed to delineate drill targets in serpentinite-magnetite hosted nickel mineralization. The survey will encompass 624 hectares in the Bear North and South zones situated on the north-eastern extent of the property. The aforementioned zones extend 3 km long, forming the eastern rim of a large (9 km diameter) circular magnetic feature interpreted to be an ocean basin accreted seamount containing ultramafic complexes (Figure 1). Scott Geophysics Ltd. of Vancouver, BC is completing the survey.
Figure 1: Ground-magnetic grid over Bear zone of Lynx property. An 8 kilometre-wide ring-like magnetic anomaly and several strong magnetic anomalies greater than 2 kilometres in length have been delineated at Lynx by an airborne magnetics survey.
Previous magnetics surveys in the Beaver block (located 11 km north of Lynx) of the Beaver-Lynx project 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.
The Lynx area is geologically similar to Beaver with even larger prospective targets areas. RGS (regional stream sediment) data collected by the Province of British Columbia illustrates the existence of a large 10 x 5 kilometre nickel anomaly at Lynx. An airborne magnetics survey delineated an 8 kilometre-wide ring-like magnetic anomaly and several strong magnetic anomalies – all greater than 2 kilometres in length.
Given the positive drill results related to areas of significant magnetite-rich serpentinite rocks in the Beaver property, Lynx displays potential to host multiple zones of large, disseminated, sulphide nickel. Cobalt occurs with nickel mineralization in the Beaver property.
A 2020 National Instrument 43-101 technical report on the Beaver-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.
Partnership Opportunity
To continue to evaluate the project’s multiple large targets and potential to host bulk-tonnage style, sulphide (class 1) nickel and cobalt deposits, Inomin is seeking a joint venture partner for the Beaver-Lynx project. The price of nickel is at a 10-year high driven by accelerating use in electric vehicle batteries. The United States recently recognized nickel as a new critical metal, essential for the country’s rising infrastructure and clean energy requirements.
Beaver Drill Results
Assay results are pending from the Company’s drill program at the Beaver property. As reported November 15, 2021, a five-hole drill program tested a 5.7 km strike length intersecting long intervals of favourable mineralization up to 190 metres in thickness. The diamond drilling program successfully tested the Spur and North Lobe zones, large 5 – 6 kilometre-long areas defined by the preceding ground magnetics survey.
Beaver-Lynx Project
Inomin’s 100% owned Beaver-Lynx project, approximately 20,000 hectares in size, is located 15 – 25 kilometres east and southeast respectively of Taseko Mines Ltd.’s Gibraltar Mine in British Columbia’s Cariboo Region. The topography of the properties is 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 (hydro) and railroad. Skilled workers, contractors, and suppliers are available locally from the city of Williams Lake situated about 20 kilometres south of Lynx (Figure 2). For further information about the Beaver-Lynx project visit MINE’s website at www.inominmines.com.
Figure 2: The Beaver-Lynx nickel-cobalt project is located in the Cariboo Region of south-central British Columbia.
About Inomin Mines
Inomin Mines is focused on the acquisition and exploration of mineral properties with strong potential to host significant resources, especially gold, silver and nickel projects. 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 holds a royalty on the King’s Point gold-copper-zinc project in Newfoundland owned by 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.
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.
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
[email protected]
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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