Drilling also Finds Silver and Copper
Vancouver, British Columbia, March 29, 2022 – Inomin Mines Inc. (TSX.V: MINE), (“Inomin”, “MINE” or the “Company”) reports significant new discoveries of nickel, magnesium, and chromium at the Company’s Beaver nickel-cobalt property in south-central, British Columbia. Drill-hole B21-02 intersected 252.1 metres (m) grading 20.6% magnesium, 0.16% nickel, and 0.33% chromium. B21-02 is the longest mineralized hole ever drilled at Beaver, and the first-ever drilling in the Spur zone, one of five large mineralized areas at the property. Hole B21-01 at Spur also made another first, discovering near-surface silver and copper, intersecting 649 g/t silver and 0.29% copper over 3 metres, before the hole was terminated due to difficult ground drilling conditions. All holes ended in mineralization leaving the discoveries open to extension at depth.
Summary – 2021 Drilling on the Beaver Property
The 2021 drilling program, consisting of 5 holes (716 m), successfully tested mineralization over a strike length of 5.7 kilometres. Drilling confirmed the presence of significant, near-surface, polymetallic mineralization over the tested strike length, and discovered mineralization in untested areas of the property. Drilling in the Spur and North Lobe zones, the focus of the 2021 drilling, intersected long intervals of favourable mineralization up to 252 metres in thickness, open to expansion in all directions. All drillholes ended in mineralization.
John Gomez, President of MINE states, “Our initial drilling program demonstrates Beaver’s potential for hosting large volumes of nickel, as well as magnesium and chromium – all critical metals. Finding significant magnesium and chromium in new areas of the property is a tremendous discovery that adds considerable more value to the project.”
A ground magnetics program on the Lynx block of the Beaver property, started in early February, has been concluded and results are pending. The magnetics program was implemented to delineate targets for the next phase of drilling in this previously untested area.
Figure 1: Drillhole Location Map (TF Magnetics Background)
Laboratory Analysis of Samples
SGS Minerals Services of Burnaby, BC was chosen to analyze the core samples. Samples were dried, crushed, split, and pulverized prior to analyses. Multi-element analyses was completed using SGS’s GE-ICP90A50 method which is a 29 element package using a sodium peroxide digestion with an ICP-AES finish. This package was chosen specifically to discriminate sulphide nickel from silicate nickels generally found in olivines.
Collaboration with University of British Columbia
Select magnesium-rich samples from the drilling program will be analyzed at the University of British Columbia (UBC). Led by award-winning professor Dr. Greg Dipple, UBC researchers have demonstrated that magnesium captures carbon dioxide (CO2) from the air in tailings of ultramafic nickel, diamonds, and PGEs deposits.
Magnesium is a key mineral for carbon capture as it naturally sequesters CO2. In tailings magnesium reacts with CO2 removing it from the atmosphere, converting it into a safe, solid form that is stable for thousands of years. Depending on the amount of carbon dioxide sequestered, it is technically possible for mines to be carbon neutral or even negative in terms of CO2 emissions.
Inomin is pleased to be working with UBC to support their leading carbon mineralization research and advancement of carbon capture technology. Carbonization technology could have a substantial impact to decrease carbon emissions and assist companies and governments reduce their CO2 footprints to fight climate change.
About the 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. Initial exploration and metallurgical studies at Beaver in 2013 – 2014, including geophysical surveys and diamond drilling programs, demonstrated the property’s potential to host large volumes of near-surface, Class 1 sulphide nickel and cobalt, amenable to conventional extraction methods.
The Lynx area is geologically similar to Beaver with even larger prospective target 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. The Lynx property shows potential for multiple, large, bulk-tonnage nickel deposits.
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.
Inomin Mines Director, L. John Peters P.Geo, a qualified person as defined by NI43-101, has reviewed and approved the technical information in this news release.
For further information about the Beaver-Lynx project visit MINE’s website at www.inominmines.com.
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.
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.
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.
