PASS LAKE, ON, Aug. 2, 2011 /CNW/ – James R. B. Parres, President & CEO of Jiminex Inc. reports that exploration at Pickle Lake was delayed due to a very large forest fire located immediately west of the Misehkow River camp. Jiminex field employees were evacuated late June and will be returning soon. The additional Misehkow River drill samples sent to the lab in early June returned assays up to 3.6 grams per tonne over 0.34 metres in the vicinity of discovery hole MIS11-03. Fladgate Exploration Consulting Corp., Thunder, Bay, Ontario has been retained to relog the Misehkow River drill core and produce a report. Mr. Parres commented “We were lucky not to lose our camp thanks to the firefighters of the Ontario MNR. The drill geology and additional assay results from the Misehkow River drill program suggest that the mineralized zone in MIS11-03 may have a flattened rod-like shape similar to the zones comprising the Musselwhite Mine. We expect that the upcoming work of Fladgate will confirm this model and that specific drill site recommendations will be made in order to trace our discovery zone. Also, we remain highly optimistic for our Hemlo project and are currently examining the data towards planning a second phase drill program later this year.”
During first phase of drilling at the Northern Eagle property, Hemlo, Ontario completed in March 2011, 10 holes were drilled with 6,816 metres of core recovered. A total of six of the 15 geophysical targets recommended by Quantec were drilled with the remaining nine targets yet to be tested. Three drill sites chosen by Jiminex management were attempts to penetrate the favored baritic alteration zone at depths exceeding 500 metres and two of these intersected this horizon at vertical depths of 550 and 700 metres. One other drill site was also chosen by management to intersect a newly exposed baritic alteration zone at a shallow depth.
A total of 2,340 Northern Eagle drill core samples were sent for gold plus 34 other element ICP-MS geochemical analyses with the expectation that a number of these trace elements results may provide a guide for future drilling programs. This is especially the case for the trace elements gold, antimony, arsenic, barium, mercury, potassium, molybdenum and vanadium which are often, in varying combinations and concentrations, geochemical indicator elements for the Hemlo gold deposit mineralization. The results on the drill core samples are currently being examined in conjunction with other geotechnical information towards planning the second phase of diamond drilling at the property.
Jiminex Inc. was listed as a resource company on the TSX venture exchange in 2009 and is focused on gold exploration in Canada. The Company acquired three high potential properties located in three well-known mining camps. The 100%-owned Misehkow River property is sited in the Pickle Lake gold mining region of Ontario near to the Pickle Crow Project of PC Gold Inc. and in the same general region as the Musselwhite Mine currently being mined by Goldcorp Inc. Misehkow River presents an opportunity to possibly locate more than one gold deposit within a large target area. The Northern Eagle property is located in the Hemlo gold mining camp, Ontario close to the 22 million ounce Hemlo deposit being mined by Barrick Gold Corp. The property is considered one of the best target areas in which to locate another Hemlo-style gold deposit and Jiminex has earned a 50% interest from Beaufield Resources Inc. The 100% owned Parres and Parres Two properties are located in the Snow Lake copper-zinc and gold mining camp of Manitoba where the major Lalor Lake copper-zinc and gold deposit discovery of HudBay Minerals Inc. is actively being explored and developed.
Allan J. Willy, P. Eng., VP Exploration & Director of Jiminex Inc. is the qualified person responsible for the geotechnical content of the Company’s public information.
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This press release may contain forward-looking statements that are subject to known and unknown risks and uncertainties that could cause actual results to vary materially from targeted results. Such risks and uncertainties include those described in the Company’s periodic reports including the annual report or in the filings made by the Company from time to time with securities regulations. The Company undertakes no obligation to publicly release the result of any revision of these forward-looking statements to reflect events or circumstances after the date they are made or to reflect the occurrence of unanticipated event.
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For further information:
Jim Parres, President & CEO
Phone: (807) 977-1679
Fax: (807) 977-1769
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