Vancouver, British Columbia, February 2, 2023 – Inomin Mines Inc. (TSX.V: MINE), (“Inomin”, “MINE” or the “Company”) reports signing a drilling agreement for the Company’s Beaver-Lynx critical minerals property, an emerging magnesium-nickel-chromium-cobalt discovery located in south-central British Columbia. The next drilling is aimed at expanding Inomin’s significant 2022 discovery and working towards delineating resources at Beaver. Maiden drilling is also planned at the Lynx area to test if mineralization is similar to discoveries at Beaver. Drilling is targeted to start this spring, with further drilling anticipated in summer and/or autumn.
John Gomez, President of MINE comments, “We’re happy we have been able to secure the same drilling company that we worked with to make our inaugural big discoveries at Beaver. Our team is excited to build on our successful exploration programs and test multiple, large, mineral footprints. We also look forward to completing first-ever drilling at Lynx that has even larger targets.”
Inomin’s drilling plans follow the Company’s announcement January 19, 2023, reporting achieving 99% magnesium recoveries from Beaver drill core samples using hydrochloric acid leaching. The drilling programs will be managed by L. John Peters, P.Geo. who directed the previous drilling campaign at Beaver. The timing and extent of drilling will depend on available funds.
Beaver-Lynx – a Major Critical Minerals Discovery
Inomin’s inaugural drilling 2021 program at Beaver generated a major discovery of high-grade magnesium and other critical minerals, primarily nickel, chromium, and cobalt. Drilling intersected substantial near-surface mineralization in all five drill holes, over a 5.5-kilometre-long strike distance. Furthermore, all holes ended in mineralization leaving the discoveries open to extension at depth.
Drillhole B21-02 intersected 252.1 metres (827 feet) grading 20.6% magnesium with nickel, chromium, and cobalt. B21-02 is the longest mineralized hole ever drilled at Beaver, and the first-ever drilling in the Spur zone, one of four mineralized zones on the eastern side of the property covering a 7-kilometre-long strike length.
The 13,610-hectare Lynx area is geologically similar to Beaver with even larger mineral targets as defined by magnetics data. A ground magnetics survey completed on the Lynx block in 2022 developed a number of areas for testing; no drilling has been completed at Lynx.
The Beaver-Lynx property is ideally located in south-central British Columbia, 50 kilometres from the town of Williams Lake and just 15-kilometres east of the Gibraltar project, a large, open-pit, mining operation grading approximately 0.27% copper equivalent. Inomin’s property is easily accessible by good all-season roads with nearby hydro-electric power. The Company owns a 100% interest in the project with no royalties.
Conference Participation
Inomin will be participating at Mines and Money (booth #B08) in Miami February 23 – 24, 2023, and at PDAC (booth #2751) in Toronto March 5 – 8, 2023.
About Inomin Mines
Inomin Mines is focused on the identification, acquisition, and exploration of mineral properties with strong potential to host significant resources, especially critical minerals, as well as gold and silver projects. 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
[email protected]
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.
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.
