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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| IEMR Resources Inc | TSXV:IRI | TSX Venture | Common Stock |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| -0.01 | -50.00% | 0.01 | 0.01 | 0.02 | 0.01 | 0.01 | 0.01 | 15,000 | 17:37:56 |
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IEMR Resources Inc. (TSX VENTURE:IRI) is pleased to report that the 2011
drilling program has been completed on the Pine Tree Project near Mina, Nevada.
Nine diamond drill holes totaling 5652.7 meters (18,545.5 feet) have been
completed as part of the program. The table below lists the completed holes and
their locations can be seen in figure 1
(http://media3.marketwire.com/docs/IRI0812.pdf). This brings to total drilling
on the property since 2005 to 14,069.7 meters (43,797.5 feet) in 30 holes for
the property. Previous drilling was conducted by Mosquito Consolidated Gold
Mines Ltd. ("Mosquito"), who currently manages exploration on the Pine Tree
project on behalf of IEMR.
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Hole Northing Easting Elevation dip azimuth Length
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Number feet feet feet degrees degrees feet
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PT10-22 101,901 200,962 7741 -90 000 2128
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PT10-23 101,900 200,960 7741 -80 280 2266.5
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PT10-24 101,903 200,964 7741 -65 310 2339.5
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PT10-25 102,232 199,652 7379 -65 040 2118.5
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PT10-26 102,015 201,478 7748 -65 250 2159
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PT10-27 102,235 199,656 7378.5 -70 340 1824
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PT10-28 101,357 200,969 7752 -75 250 1235
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PT10-29 102,236 199,661 7378.5 -70 270 2508.5
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PT10-30 101,969 199,121 7120 -75 170 1966.5
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The drill holes encountered three different types of mineralization,
corresponding to the three distinct mineralizing events previously identified on
the property. These are the older copper bearing calc-silicate skarn
replacement, the molybdenum bearing stockwork and the younger
arsenopyrite-precious-base metal bearing systems. Assay results will be released
once all analytical, check and precious metal analytical work is completed.
Almost the entire core was sampled and cut in half using a diamond saw. Half the
core is sent for analysis with the other half being kept and stored at the core
facility located on site. Following cutting the samples are picked up directly
by ALS Chemex and taken to their fully accredited analytical laboratory in Reno.
They are first analyzed for 47 elements using a four (4) acid digestion with
analysis by Inductively Coupled Argon Plasma Optical Mass Spectrometer (ICP-MS)
and for gold using a 50 gram fire assay with an Atomic Absorption (AA) finish.
Copper and Molybdenum bearing samples are then checked by using a larger 5 gram
sample and analyzed using a pressed power pellet X-Ray Fluorescence Spectroscopy
(XRF). In addition duplicates, blanks, and standards are analyzed to ensure
analytical accuracy and reproducibility. All rejects are being kept for further
analysis and for use in metallurgical testing.
Geologically the intersection lengths and type of mineralization encountered in
the drilling are listed in Table below. These are mineralized zones identified
by the geology personnel, that are used to produce the geologic block model that
IEMR expects will be used in a resource calculation. Assays will determine the
grade of these zones.
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Hole From To Length From To Length mineralized
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Name meters meters meters feet feet feet type
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PT10-22 170.1 371.2 201.1 558.0 1,218.0 660.0 Molybdenum/
calc silicate
skarn
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316.4 319.4 3.0 1,038.0 1,048.0 10.0 lead-zinc
veins
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389.5 389.7 0.2 1,278.0 1,278.5 0.5 zinc
---------------------------------------------------------------------------
395.3 395.6 0.3 1,297.0 1,298.0 1.0 zinc
---------------------------------------------------------------------------
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PT10-23 213.4 420.6 207.3 700.0 1,380.0 680.0 Molybdenum
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551.7 582.2 30.5 1,810.0 1,910.0 100.0 Molybdenum_
copper/calc
silicate skarn
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597.4 637.0 39.6 1,960.0 2,090.0 130.0 copper calc
silicate skarn
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646.2 667.5 21.3 2,120.0 2,190.0 70.0 arsenopyrite
Au-Ag
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PT10-24 304.8 356.6 51.8 1,000.0 1,170.0 170.0 arsenopyrite
Au-Ag
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536.4 576.1 39.6 1,760.0 1,890.0 130.0 arsenopyrite
Au-Ag
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PT10-25 274.3 353.6 79.2 900.0 1,160.0 260.0 arsenopyrite
Au-Ag
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484.6 524.3 39.6 1,590.0 1,720.0 130.0 arsenopyrite
Au-Ag
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PT10-26 246.9 320.0 73.2 810.0 1,050.0 240.0 Molybdenum
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420.6 603.5 182.9 1,380.0 1,980.0 600.0 Molybdenum_
copper/calc
silicate skarn
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213.4 338.3 125.0 700.0 1,110.0 410.0 arsenopyrite
Au-Ag
---------------------------------------------------------------------------
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PT10-27 103.6 155.4 51.8 340.0 510.0 170.0 arsenopyrite
Au-Ag
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350.5 402.3 51.8 1,150.0 1,320.0 170.0 arsenopyrite
Au-Ag
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438.9 460.2 21.3 1,440.0 1,510.0 70.0 arsenopyrite
Au-Ag
---------------------------------------------------------------------------
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PT10-28 57.9 70.1 12.2 190.0 230.0 40.0 arsenopyrite
Au-Ag
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91.4 170.7 79.2 300.0 560.0 260.0 arsenopyrite
Au-Ag
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201.2 219.5 18.3 660.0 720.0 60.0 Molybdenum_
copper/calc
silicate skarn
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277.4 313.9 36.6 910.0 1,030.0 120.0 Molybdenum_
copper/calc
silicate skarn
---------------------------------------------------------------------------
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PT10-29 406.6 764.6 358.0 1,334.0 2,508.5 1,174.5 Molybdenum_
copper/calc
silicate skarn
---------------------------------------------------------------------------
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PT10-30 194.5 595.6 401.1 638.0 1,954.0 1,316.0 Molybdenum_
copper/calc
silicate skarn
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Once all the assays are received, IEMR is going to calculate an initial National
Instrument 43-101 compliant resource for the project, the results of which will
be used to control additional drilling and development of the project.
Mr. Shaun M. Dykes, M.Sc. (Eng), P.Geo., Exploration Manager and a Director of
Mosquito, is the designated qualified person for the Pine Tree Project, and
prepared the technical information contained in this news release.
On Behalf of the Board
IEMR RESOURCES INC.
Hongxue Fu, President and Chief Executive Officer
Information in this news release may contain forward-looking information under
applicable securities laws. Forward-looking information are statements or
information that relate to future events. In this context, forward-looking
information often address expected future business and financial performance,
and often contain words such as "anticipate" or "expect", statements that an
action or event "will" be taken or occur, or other similar expressions.
Forward-looking information relates to, among other things, the calculation of
an initial National Instrument 43-101 compliant resource for the Pine Tree
Project and the timing of the preparation of such resource. By their nature,
forward-looking information involves known and unknown risks, uncertainties and
other factors which may cause its actual results, performance or achievements,
actions or other future events, to be materially different from any future
results, performance, actions or achievements expressed or implied by such
forward-looking statements. Such factors include, among others, the following
risks: risks associated with project development; the need for additional
financing; operational risks associated with mineral exploration; fluctuations
in commodity prices; title matters; environmental liability claims and
insurance; reliance on key personnel; the absence of dividends; competition;
dilution; and the volatility of IEMR's common share price and volume, as well as
those described in the risk factors section in IEMR's most recently filed
Management's Discussion and Analysis for the financial year ended October 31,
2010 available at www.sedar.com. Forward-looking information is made based on
management's beliefs, estimates and opinions on the date that such statements
are made and IEMR undertakes no obligation to update forward-looking information
if these beliefs, estimates and opinions or other circumstances should change,
except as required by law. Investors are cautioned against undue reliance on
forward-looking information.
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