JIMINEX INC. ANNOUNCES DRILLING TO BEGIN AT SNOW LAKE COPPER-ZINC-GOLD
PROPERTY, MANITOBA
Shares outstanding: 28,510,116
PASS LAKE, ON, Oct. 6 /CNW/ - James R.B. Parres, President & CEO of Jiminex Inc. is pleased to report that drilling is scheduled to begin on October 18, 2010 on the drill-ready 100%-owned Parres property, Snow Lake copper-zinc and gold mining area, Manitoba. Condor Consulting Inc., Lakewood, Colorado, recognized experts in the field of airborne electromagnetics, were retained to interpret the February 2010 VTEM airborne geophysical survey. Their report recommends a 2,200 metre, 12 hole drill program. Mr. Parres comments, "I am excited to get this particular drill program moving ahead. Many of our drill targets are located on the mine stratigraphy between the past-producing Stall and Osborne copper-zinc mines. The Condor targets have never been drilled and the Jiminex management team believes the prospects for success are excellent. We are also very encouraged by the recent success of HudBay Minerals Inc. with their new Lalor Lake copper-zinc and gold deposit discovery which has revived the Town of Snow Lake."
Jiminex Inc. was listed as a junior resource company on the TSX venture exchange in late August 2009 and is focused on gold exploration in Canada. The Company has acquired three high potential gold properties located in three separate well-known gold and copper-zinc mining camps. The Northern Eagle property is located in the Hemlo gold mining camp, Ontario close to the 21 million ounce Hemlo gold deposit currently being mined by Barrick Gold Corp. This property is considered one of the best target areas in which to locate another Hemlo-style World-Class gold deposit and Jiminex is earning a 50% interest from Beaufield Resources Inc. The 100%-owned Misehkow River property is located 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 locate significant iron formation hosted gold deposits over a large target area of approximately 30 kilometres. The 100% owned Parres and Parres Two properties are located in the well-known Snow Lake copper-zinc and gold mining camp of Manitoba where the major new 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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FORWARD-LOOKING STATEMENTS
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.
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.
For further information: Jim Parres, President & CEO, Phone: (807) 977-1679, Fax: (807) 977-1769, Email: [email protected], Website: http://www.jiminex.com
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