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INSPIRATION ADVANCES LANGMUIR PROJECT AND ENGAGES NORDPRO TO PROVIDE ENGINEERING AND GEOLOGICAL SERVICES
FOR IMMEDIATE RELEASE
| August, 15 2011 | TSX - ISM Frankfurt- OI8 |
Toronto, Ontario, August 15, 2011 – Inspiration Mining Corporation (“Inspiration” or the “Corporation”) is pleased to announce the engagement of NordPro Mine and Project Management Services Ltd. of Thunder Bay, Ontario to provide engineering and geological services on the company’s Langmuir Property. In addition, the Company is pleased to announce results from its ongoing infill and detail drilling program at the Langmuir Open Pit Nickel Deposit.
The Langmuir property comprises 69 mining claims covering 1121 hectares in the Langmuir Township, 25 km southeast of Timmins, Ontario. It hosts the past nickel producing mines of Langmuir No. 1 and 2. Two main deposits were drilled and identified by Inspiration Mining on which indicated nickel resources were estimated at 1.7 Mt @ 0.51% for Langmuir 1 and 8.3 Mt @ 0.4% Ni for Langmuir North deposits (43-101 Micon Report, Jan 2010).
With the 2011 infill and detail drilling program nearing completion, the Company is pleased to report that it now has sufficient data and has engaged a team led by NordPro in order to provide an updated NI 43-101 Resource Report.
Highlights of the services to be provided by NordPro include:
1. Rebuilding of Block Models for Langmuir.
2. Completing an NI 43-101 compliant resource estimate utilizing the new Block Models.
3. Providing guidance and support in the optimization of future exploration drilling programs.
4. Providing direction for oriented core directional drilling to support Geotechnical evaluations.
5. Providing open pit analysis and optimization strategies for pit wall slopes.
“We are very pleased to be working with the NordPro team on this important initiative. The breadth of experience within the team is superb and we are confident that the updated 43-101 Report will give the Company and it’s shareholders a more complete understanding of the potential for the Langmuir deposit”, said Ian Stewart, President, Inspiration Mining.
KCC-Allerston is a lower grade, high tonnage nickel-mineralized zone located 2 km northwest of the Langmuir1 deposit, revealed by exploration drill programs in 2008 and 2009 (listed in 43-101 Report, Sept 2009 posted on Sedar). The zone is hosted in intrusive komatiitic ultramafic and mafic rocks conformably intercalated with intermediate and felsic volcanic sequences dipping to the SE and in contact with a late-Archean tonalitic pluton to the southwest. The zone is trending to NNE and extends at least over 700 m horizontally.
In March 2011, the Company embarked on a 3000 meter drill program designed to delimit the extension of the mineralized body and to fill voids between previous drilling with spacing between 60 and 100 meters.
Results with 0.2% Ni cutoff are as follows:
2011 Drill Program
|
Id |
From |
To |
Length (m) |
Ni Weight Av % |
|
*KCC11-6 |
50 |
103 |
53 |
0.24 |
|
|
120 |
171 |
50 |
0.26 |
|
|
174 |
192 |
17 |
0.32 |
|
|
197 |
245 |
48 |
0.24 |
|
*KCC11-7 |
116 |
325 |
207 |
0.22 |
|
*KCC11-8 |
158 |
386 |
228 |
0.23 |
|
*KCC11-9 |
134 |
348 |
213 |
0.23 |
|
*KCC11-10 |
68 |
172 |
104 |
0.24 |
|
|
175 |
238 |
63 |
0.22 |
|
*KCC11-11 |
47 |
100 |
53 |
0.21 |
|
|
116 |
323 |
208 |
0.22 |
|
*KCC11-12 |
142 |
309 |
165 |
0.22 |
|
New Assays | ||||
|
KCC11-13 |
216 |
416 |
200 |
0.23 |
|
KCC11-14 |
2 |
106 |
104 |
0.23 |
|
KCC11-15 |
1 |
109 |
108 |
0.22 |
|
KCC11-16 |
3 |
97 |
94 |
0.21 |
|
KCC11-17 |
2 |
113 |
111 |
0.23 |
|
KCC11-30 |
47 |
155 |
108 |
0.22 |
|
KCC11-32 |
76 |
151 |
75 |
0.23 |
|
KCC11-37 |
53 |
155 |
102 |
0.23 |
† all intersection lengths should be considered as true widths
*Previously released in MD&A dated March 31, 2011
The Qualified person in charge of the Langmuir Property and the person who prepared the technical data in this release is Andre Ciesielski, P.Geo.
Forward Looking Statements
This news release contains “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “anticipated”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Inspiration is subject to significant risks and uncertainties which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward looking statements contained in this release. Inspiration cannot assure investors that actual results will be consistent with these forward looking statements and Inspiration assumes no obligation to update or revise the forward looking statements contained in this release to reflect actual events or new circumstances.
The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.