TSX Venture Exchange
Symbol: NWM
Shares Outstanding: 402,069,593
TORONTO, March 31 /CNW/ - NWM is pleased to announce that drilling at the Campamento Zone of the La Jojoba property has returned high-grade gold intercepts.
The first phase of shallow drilling was completed March 23. Approximately half of the drill sample assays have been received with the balance expected within two weeks. The Company has now completed 221 air-track drill holes in the area of the Campamento Zone. The Campamento area is situated about one kilometre southwest of the Northeast Zone of the La Jojoba property. The Northeast Zone hosts an NI 43-101 compliant Mineral Reserve of 193,489 ounces of gold, which is restricted to an area considerably smaller on surface than the Campamento Zone.
Current drill results indicate a three-meter interval of 11.15 g Au/t at the surface of drill hole Camp-65, which is located 200 meters south of four other drill intercepts of 3.0 to 3.4 meters each, ranging between 3.0 to 5.24 g Au/t. Drill sites Camp-85 to Camp-95 are located in the area surrounding the central Campamento Zone. Numerous other drill sites in the group of drill holes reported in this news release returned ore-grade gold intercept values. The extensive surface and shallow underground workings in this area are only partially evaluated by this work.
Rock chips collected from the drilling are split at the drill site to a ¼ volume sample, which is bagged, tagged and then secured for subsequent shipment to the laboratory for analysis. Each 20th drill sample is a duplicate sample and the Company inserts blank and known assay standards in its sample program. All drill samples are secured and sent to the ALS-Chemex sample preparation facility in Hermosillo. Sample pulps are sent to Reno or Vancouver for 50-gram fire assay and ICP analyses.
Table of high-grade gold intercepts from drill holes at Campamento
| Hole |
Sample |
From |
To |
Interval |
Au (g/t) |
| Camp-65 |
315637 |
0 |
3.0 |
3.0 |
11.15 |
| Camp-65 |
315638 |
3.0 |
6.4 |
3.4 |
0.984 |
| Camp-65 |
315639 |
6.4 |
9.8 |
3.4 |
0.258 |
| Camp-65 |
315640 |
9.8 |
13.2 |
3.4 |
0.218 |
| Camp-65 |
315642 |
13.2 |
16.6 |
3.4 |
0.091 |
| Camp-65 |
315643 |
16.6 |
20.0 |
3.4 |
0.018 |
| Camp-65 |
315644 |
20 |
23.4 |
3.4 |
0.452 |
| Camp-85 |
315769 |
0 |
3.0 |
3.0 |
5.24 |
| Camp-85 |
315770 |
3.0 |
6.4 |
3.4 |
1.635 |
| Camp-85 |
315771 |
6.4 |
9.8 |
3.4 |
0.565 |
| Camp-88 |
315780 |
0 |
3.0 |
3.0 |
3.69 |
| Camp-88 |
315782 |
3.0 |
6.4 |
3.4 |
1.265 |
| Camp-88 |
315783 |
6.4 |
9.8 |
3.4 |
0.246 |
| Camp-88 |
315784 |
9.8 |
13.2 |
3.4 |
0.102 |
| Camp-93 |
315798 |
0 |
3.0 |
3.0 |
4.42 |
| Camp-93 |
315799 |
3.0 |
6.4 |
3.4 |
0.204 |
| Camp-93 |
315800 |
6.4 |
9.8 |
3.4 |
0.307 |
| Camp-93 |
315801 |
9.8 |
13.2 |
3.4 |
0.024 |
| Camp-94 |
315803 |
0 |
3.0 |
3.0 |
3.07 |
| Camp-94 |
315804 |
3.0 |
6.4 |
3.4 |
0.108 |
| Camp-94 |
315805 |
6.4 |
9.8 |
3.4 |
0.01 |
| Camp-94 |
315806 |
9.8 |
13.2 |
3.4 |
0.143 |
The air-track drill program is conducted in conjunction with surface mapping and an on-going core drilling campaign. The NWM core drill is presently working on the western part of the Campamento Zone. No mineral resources have been calculated for, or attributed to, the Campamento Zone in past technical reports. This means NWM currently has no resources or reserves associated with the Campamento Zone. Upon conclusion of the current exploration program, the Company expects to obtain sufficient information to establish a new resource area on the Campamento Zone of the La Jojoba property.
While the Northeast Zone of La Jojoba (which contains 193,489 oz. of Proven & Probable gold reserves) covers an area of 300m by 150m on surface, the Campamento Zone covers an area which is almost 1,500m in strike length and has a width of some 900m. This is a surface imprint which is considerably larger than the surface imprint of the La Jojoba Northeast Zone. This size dimension, in combination with the reported high grade intersections found on the Campamento Zone to date make it the company's most prospective exploration initiative.
The Company is also pleased to report that it has obtained requisite authority to conduct surface exploration activities on approximately 1,500 hectares of land on the adjacent La Jojoba ranch. Exploration of this area is undergoing planning and review and will begin before June 2011.
La Jojoba Northeast Zone (193,489 oz. P&P Reserves) / Campamento Zone South
To see this map, follow this link: https://www.nwmcorp.ca/wp-content/uploads/2011/03/LaJojoba_ExplorTargets_110329.jpg
This press release has been prepared by Rodney A. Blakestad, C.P.G. Qualified Person.
CAUTIONARY STATEMENT ON FORWARD-LOOKING INFORMATION
This news release includes "forward-looking information", as such term is defined in applicable securities laws. Forward-looking information includes, without limitation, the success of exploration activities, price outlooks, production expectations 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. 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.
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, (416) 364-6799