Continued Exploration At La Cigarra Silver Project

 

VANCOUVER, BC - International Northair Mines Ltd. reported an update of the ongoing exploration program underway at its La Cigarra silver project located in north central Mexico.

Since the Company acquired the Property, exploration had been concentrated mainly in the northern half of the open 6.5 kilometre long La Cigarra mineralized system. Within the trend, drilling has outlined a continuously mineralized portion with a strike length of approximately 3.6 kilometers defined by the results of 154 drill holes. In February, utilizing only a 2.1 kilometre segment comprising the San Gregorio and Las Carolinas areas, the Company reported a measured and indicated mineral resource estimate of 50.5 million ounces of silver grading 76 g/t silver contained in a Whittle pit shell at an economic cutoff grade of 30 g/t silver. Significant quantities of mineralized material existing along strike and down dip were excluded from the resource estimate in areas where drill-hole density was not sufficient to bring mineralization into the pit shell boundary.

Recent surface exploration by the Company has concentrated on the largely unexplored southern 3.5 kilometre portion of the system that lies on trend and immediately south of the Las Carolinas Zone. This work led to the discovery of three (3) new zones (Las Venadas, La Soledad and La Chinas).

Each zone hosts a cluster of historic mine workings evenly spaced along the north-south trending mineralized system and exhibit geological similarities to the three (3) main La Cigarra showings to the north (La Borracha, San Gregorio and Las Carolinas). Surface sampling within these new zones returned significant silver values and Northair believes that the Las Venadas, La Soledad and La Chinas zones all have potential for both high grade veins and bulk tonnage surface mineable silver deposits.

Las Venadas, located 500 metres south of Las Carolinas, hosts multiple mine workings including a 20 metre deep shaft and two shallow prospect pits. Initial rock chip sampling here returned important silver values over an area measuring 230 metres by 90 metres. Nineteen of thirty three samples exceeded 20 g/t silver including a high of 233 g/t silver. The remaining fourteen samples returned values ranging from 1.1 g/t to 17.5 g/t silver. Follow up sampling confirms the presence of a north by northwest trending silver bearing structural zone measuring 700 meters long by 200 meters wide. This large mineralized area represents a high priority drill target. In addition, a second area with anomalous surface silver values up to 34 g/t silver occurs 300 metres west of the Las Venadas main trend. Based on the alignment and positioning of the scattered anomalous silver values to the northwest the Company believes that a parallel mineralized structure may exist on the western limb of the La Cigarra anticline.

La Soledad, situated approximately 500 meters south of Las Venadas, contains a number of large mine dumps and historic mine workings that exploited a series of silver bearing quartz veins. Although sampling here reported only moderate silver values, the scope of the historic mine workings are comparable to those found within the Las Carolinas Zone. Much of the area is covered, but soil sampling has defined a broad lead anomaly, supporting the probability that the mineralized system does underlie the covered area.

Las Chinas is located approximately 1,000 meters south of La Soledad and is comprised of a number of historic mine workings that exploited silver bearing quartz-calacite veins. Northair has thus far mapped and sampled 600 metres of this structure. Sampling yielded relatively low silver values with the exception of three rock chips that returned values up to 458 g/t over 0.90 metres. This area is defined by a significant lead-zinc soil anomaly and anomalous gold. The Company plans further sampling and mapping here with the objective of defining drill targets.

The work done to date in the southern extension of the La Cigarra structure has demonstrated a robust mineralized system with numerous drill targets. The permissive geology and attractive surface sampling results present a compelling opportunity to expand the known resource. The Company is presently prioritizing target areas for an expected 2013 drilling program.