NWM Drills 2.155 g/t Au over 25.9 Meters at Lluvia de Oro (R10-08)
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Symbol: NWM
Shares Outstanding: 221,375,195
TORONTO, July 20 /CNW/ - Lluvia de Oro Infill & Step-out Drilling Update No. 1:
NWM Mining Corporation (the "Company" TSX-V: NWM) is pleased to report on completion of Phase One of the reverse-circulation (RC) drilling program conducted at Lluvia de Oro in the month of June (2,981.2 meters of drilling), and to provide results of the core drilling program through core hole number R10-017 (3,140.5 meters of drilling).
Highlights of the current drill results include a number of favorable gold intercepts in the area designated as the Southeast Lobe (SEL) of the southwest Creston Pit, and RC drill hole (R10-008), which indicates a significant extension to the Southeast Lobe mineralization. RC holes R10-002 through R10-004, R10-006, and R10-008 are listed in Table 1 below, and initial core drill results defining new mineralization in the Southeast Lobe area are listed in Table 2 below.
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RC Hole From To Length Au
ID (m) (m) (m) (g/t)
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R10-002 0.0 24.0 24.0 0.323
37.5 51.0 13.5 0.579
72.0 109.5 37.5 0.325
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R10-003 24.0 55.5 31.5 0.245
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R10-004 6.0 22.5 16.5 0.322
42.0 66.0 24.0 0.962
81.0 106.5 25.5 0.758
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R10-006 36.0 51.0 15.0 0.242
66.0 72.0 6.0 0.222
84.0 118.5 34.5 0.31
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R10-008 96.0 121.9 25.9 2.155
Including 106.7 111.3 4.5 7.24
245.4 256.0 10.7 0.782
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R10-010 76.2 88.4 12.2 0.399
100.6 103.6 3.0 0.485
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R10-011 38.1 45.7 7.1 0.223
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R10-012 10.7 15.2 4.2 0.423
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Table 1: RC drill hole assays for the Southeast Lobe of the Creston Pit.
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From Length Au
Hole ID (m) To (m) (m) (g/t)
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L10-010 9.0 17.5 8.5 0.482
43.8 46.4 2.6 0.379
77.6 92.5 14.9 1.165
Including 77.6 82.0 4.4 2.72
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L10-011 14.5 20.5 6.0 1.008
50.6 67.4 16.8 0.556
83.7 98.5 14.8 0.337
Including 92.4 94.0 1.6 2.29
118.6 127.8 9.2 0.464
150.1 171.5 21.4 0.356
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L10-012 22.0 64.8 42.8 0.359
Including 38.5 46.0 7.5 1.12
96.8 98.8 2.0 1.891
197.5 211.0 13.5 0.313
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L10-013 12.1 15.0 2.9 0.298
65.0 88.0 23.0 0.542
Including 66.1 70.3 4.2 1.73
99.1 106.0 6.9 0.304
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L10-014 2.5 5.3 2.8 0.887
Including 17.5 20.5 3.0 1.075
100.3 101.8 1.5 0.312
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L10-015 31.9 34.9 3.0 0.291
116.0 119.0 3.0 0.455
172.0 175.0 3.0 0.379
205.0 209.5 4.5 0.386
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Table 2: Core drill hole intercept assays in the Southeast Lobe of SW
Creston Pit.
The significant mineralized intercept identified in R10-008 (2.155 g/t Au over 25.9 Meters) can be seen (in Figure 1) to be some 200 meters to the southwest of the new mineralization identified in the Southeast Lobe (SEL). A follow up drill program to identify the potential continuity of mineralization between and to the south of these areas is now in progress.
Figure 1: http://www.nwmcorp.ca/images/creston1200.jpg Digital Globe satellite image showing drill hole (R10-08) approximately 200 Meters south and west of the newly defined mineralization in the Southeast Lobe area (SEL) of the Creston Pit. RC holes are represented by stars and core holes by circles. Arrows indicate the trace of inclined drill holes.
It is important to note that none of the newly identified mineralization in the SEL area was included in the previously calculated proven and probable reserves for Lluvia de Oro. This area outlines a newly defined zone of gold mineralization and drill hole R10-08 has detected a significant band of mineralization some 200 Meters to the south and west of the recently defined SEL area. Continuity of mineralization between and to the south of these areas could materially affect future resource and reserve calculations for Lluvia de Oro.
Four other exploration drill holes were drilled in the area west and southwest of the Creston Pit exploring for extensions of mineralization in the southwest direction. These drill holes did not return significant intercepts of gold mineralization (Table 3), however, the several intercepts encountered suggest that further exploration of the southwest extension is needed.
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RC Hole From Length Au
ID (m) To (m) (m) (g/t)
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R10-001 118.5 124.5 6.0 0.253
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R10-005 228.0 234.0 5.6 0.213
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R10-007 196.6 201.2 4.6 0.256
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R10-009 71.6 79.2 7.1 0.400
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R10-013 0.0 3.0 3.0 0.238
105.2 112.8 7.6 0.321
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Table 3: RC drill hole intercept values for the west and southwest
Creston Pit area.
RC holes R10-014 through R10-017 and core hole L10-016 were drilled in the Northeast Extension area (not shown on Figure 1). These holes were drilled principally with a view to upgrading resource categories in that area where previously reported inferred resources may be upgraded to measured and indicated resources, and ultimately to reserve categories. Core hole L10-016 tested an Enzyme Leach soil anomaly previous identified at Lluvia de Oro and resulted in intercepts of 31.3 and 44.8 vertical meters, including a 25.1 meter interval (vertical thickness) of mineralized rock in the metamorphic sequence underlying the detachment block (96.3 to 124.0m at -65 degrees intercept). The intercept of gold mineralization in the metamorphic rocks defines a new target for further exploration in the Northeast Extension area.
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From Length Au
Hole ID (m) To (m) (m) (g/t)
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R10-014 No Sig. Assays to 122.7
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R10-015 27.4 30.5 3.1 1.545
42.7 53.3 10.6 0.367
93 109.7 16.7 0.273
118.9 129.5 10.6 0.896
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R10-016 33.5 36.6 2.8 2.033
80.8 93 11.1 0.450
103.6 109.7 5.5 2.258
118.9 135.6 15.1 0.265
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R10-017 13.7 16.8 2.8 0.328
21.3 29 7.0 0.131
67.1 71.6 4.1 0.778
80.8 83.8 2.7 1.036
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L10-016 17.5 52.0 31.3 0.535
74.5 124.0 44.8 0.670
Including 110.5 118.0 6.8 2.15
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Table 4: Drill intercept assay results for the Northeast Extension area.
Core drill holes L10-001 through L10-009 were drilled in Area 1, on the northwest end of Creston Pit, to define margins of known mineralization for mine planning and to provide drilling information in areas of planned leach pad construction. Drill holes L10-001, L10-003, L10-007, and L10-009 were successful in defining grade blocks between existing drill lines, and holes L10-004 through L10-006 were condemnation drill holes in the area of the northeast leach pad (see Table 5 below).
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From Length Au
Hole ID (m) To (m) (m) (g/t)
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L10-001 7.0 14.5 7.5 0.755
59.5 70.1 10.6 0.394
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L10-002 No Sig. Assays to 179.5
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L10-003 5.5 8.5 2.6 0.313
118.0 122.5 3.9 0.485
133.0 141.9 7.7 0.224
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L10-004 No Sig. Assays to 164.9
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L10-005 No Sig. Assays to 165.5
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L10-006 No Sig. Assays to 183.5
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L10-007 30.6 34.0 3.1 0.551
46.0 50.5 4.1 0.255
99.2 118.0 17.0 0.489
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L10-008 No Sig. Assays to 214.3
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L10-009 26.5 48.7 22.2 0.699
56.1 64.0 7.9 0.307
70.4 74.5 4.1 0.450
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Table 5: Drill results from nine core holes in Area 1.
The drilling program was designed to accomplish three objectives: 1) provide gold-silver-copper assay information for areas between existing drill lines within the defined block of mineral resources at the Lluvia de Oro mine and to upgrade resource categories in these areas; 2) continue the drill holes below the defined Upper Zone mineralization envelope to explore and obtain grade and continuity information for the Lower Zone mineralization; and 3) conduct exploration drilling to find the margins of existing mineralization, which includes some condemnation drilling. The objectives of drilling have been realized to date and the cost of drilling and related support has been within budget.
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Mr. Rodney A. Blakestad, C.P.G., is the Qualified Person in compliance with National Instrument 43-101 of the Canadian Securities Administrators for this press release and has reviewed and approved the technical and scientific disclosure contained herein.
CAUTIONARY STATEMENT ON FORWARD-LOOKING INFORMATION
This news release includes "forward-looking information"; as such term is defined in applicable securities laws. The forward-looking information includes, without limitation, the success of exploration activities and other similar statements concerning anticipated future events, conditions or results that are not historical facts. These statements reflect management's current estimates, beliefs, intentions and expectations; they are not guarantees of future performance. The Company cautions that all forward looking information is inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond the Company's control. Such factors include, among others, risks and uncertainties relating to exploration and development; the ability of the Company to obtain additional financing; the need to comply with environmental and governmental regulations; political and economic instability and general civil unrest in Mexico, if any; potential defects in title to the Company's properties; fluctuations in currency exchange rates; fluctuating prices of commodities; operating hazards and risks; competition; and other risks and uncertainties, including those described in the Company's other regulatory filings filed with the Canadian Securities Administrators and available at www.sedar.com. Accordingly, actual future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward-looking information. All statements are made as of the date of this news release and the Company is under no obligation to update or alter any forward-looking information.
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Neither the 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 of this release.
For further information: NWM Mining Corporation at (416) 364-6799
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