TSX Venture Exchange
Symbol: NWM
TORONTO, Sept. 11, 2013 /CNW/ - NWM Mining Corporation
("NWM" or the "Company") (TSX-V: NWM) is pleased to provide an
update on the recent Phase 1 in-fill drilling programs at the
company's Lluvia de Oro ("Creston") deposit. The Creston pit has been the source of essentially
all the ore mined to date at the Lluvia de Oro site until the
recent initiation of mining operations at the Company's new Gold
Ridge deposit in Q2-2013 (see news release dated August 27, 2013).
Subsequent to the Lluvia de Oro reserve updates
completed in 2010, little exploration effort has been directed at
the expansion of the known areas of mineralization contained within
the NWM property area. Early in 2013, the Company's new
management team prepared a phased exploration program intended to
run through 2014 with the goal of increasing the resource potential
of the project. Phase 1 of this program was completed late in
Q2-2013 and was targeted primarily at upgrading inferred resources
at the Creston deposit.
Highlights from the recent drilling at
Creston are listed below (details
in Table 1):
- Excellent continuity of mineralization over a strike length of
approximately 2000m which covers the current areas of mining
operations at the Creston
pit. Of the 39 drill holes completed only 7 holes reported no
intersections of significant mineralization.
- The currently known resource appears to remain open along
strike in both directions as significant zones of mineralization
were intersected both at the NE and SW limits of the current mining
areas
-
- NE Limit (Hole RC13-66 / 73.2m @ 0.55 g/t gold)
- SW Limit (Hole RC13-88 / 70.1m @ 0.52 g/t gold)
- Other highlights from the drilling are shown in Table 1 and
show the presence of significant mineralized intersections
throughout the drilling area.
- The grades of the mineralization drilled in the current
campaign are relatively consistent across the deposit and
comparable to those currently being mined at the Creston pit (see results in Table 1 for
intervals in excess of current 0.15 g/t mine cut-off)
An updated estimate of the mineralization
potential for Creston deposit will
be included as part of the company's updated resource/reserve study
planned for release by the end of September
2013.
"The completion of the company's recent Phase 1
drill program clearly shows the potential for adding new gold
resources/reserves at the Lluvia de Oro project," said Darren Koningen (NWM Mining Interim CEO).
"The current campaign was intended primarily to upgrade inferred
resource potential in the Creston
mining area and we are extremely pleased with the results. An
added benefit has been the increasing confidence within our
exploration team regarding the potential for the current
mineralized resources to continue along strike both at the north
and south limits of the current mining operations. These
areas will be targeted for the next phase of exploration drilling
currently planned for around year end."
Qualified Person
This press release has been reviewed by Mr.
Darren Koningen, P. Eng., NWM
Mining's Interim CEO and President. Mr. Koningen is a Qualified
Person under National Instrument 43-101.
All RC drill samples were collected by NWM
Mining personnel including the company's exploration geologists and
trained mine technicians. RC drill samples were collected
every 1.5m in two 5 gallon buckets. The entire sample is then
weighed and split in half using a single Jones-type splitter.
One half of the sample is then further reduced, through the Jones
splitter with one half (one quarter of the original sample) bagged
for analysis at the NWM laboratory facilities. The remaining
half is bagged for storage in the project warehouse. Blanks,
duplicates and standards were randomly inserted with the samples
sent for analysis as part of the normal QA/QC procedures.
All samples were prepared and analyzed for gold
using fire assay procedures with an Atomic Adsorption Spectroscopy
("AAS") finish. Check samples were sent from the NWM laboratory
facilities to ALS-Chemex in Hermosillo,
Mexico for QA/QC purposes.
About NWM Mining Corporation
NWM is in commercial gold production at its
wholly owned Lluvia gold project. The mine is an open pit heap
leach operation in Sonora State, Mexico. Management believes the property is
significantly under-explored and hosts potential to provide further
gold discoveries and resource and reserve upgrades. While
management has focused in the past on developing the mine and
supporting cash flows, the focus in 2013 will shift to increasing
mining rates and drilling to expand geological resources and
reserves.
Additional information about NWM can be found on
the NWM website at www.nwmcorp.ca or on SEDAR at www.sedar.com.
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.
Table 1. Creston Deposit Phase 1 Drill
Results
|
Complete Intervals*1 |
>0.15 g/t gold cut-off*2 |
Drill Hole |
From
(m) |
To
(m) |
Width
(m) |
Grade
(g/t gold) |
Width
(m) |
Grade
(g/t gold) |
RC13-65 |
7.6 |
65.5 |
57.9 |
0.22 |
16.8 |
0.58 |
RC13-66 |
35.1 |
108.2 |
73.2 |
0.55 |
44.2 |
0.88 |
RC13-67 |
47.2 |
62.5 |
15.2 |
0.44 |
10.7 |
0.60 |
RC13-68 |
3.1 |
10.7 |
7.6 |
0.28 |
4.6 |
0.39 |
RC13-69 |
3.1 |
10.7 |
7.6 |
0.32 |
4.6 |
0.43 |
64.0 |
85.3 |
21.3 |
0.31 |
12.2 |
0.50 |
RC13-70 |
0.0 |
62.5 |
62.5 |
0.43 |
25.9 |
1.00 |
RC13-71 |
0.0 |
15.2 |
15.2 |
0.22 |
3.1 |
0.85 |
RC13-72 |
30.5 |
50.3 |
19.8 |
0.23 |
12.2 |
0.43 |
RC13-73 |
25.9 |
100.6 |
74.7 |
0.31 |
32.0 |
0.67 |
RC13-74 |
36.6 |
73.2 |
36.6 |
0.20 |
16.8 |
0.39 |
RC13-75 |
15.2 |
59.4 |
44.2 |
0.22 |
22.9 |
0.35 |
RC13-77 |
59.4 |
73.2 |
13.7 |
0.39 |
4.6 |
1.0 |
102.1 |
157.0 |
54.9 |
0.38 |
22.9 |
0.82 |
RC13-78 |
59.4 |
106.7 |
47.2 |
0.52 |
32.0 |
0.74 |
RC13-79 |
118.9 |
128.0 |
9.2 |
0.29 |
6.1 |
0.38 |
RC13-80 |
22.9 |
25.9 |
3.1 |
0.40 |
3.1 |
0.40 |
RC13-81 |
61.0 |
71.6 |
10.7 |
0.50 |
7.6 |
0.69 |
RC13-83 |
68.6 |
83.2 |
14.6 |
0.23 |
6.1 |
0.43 |
RC13-84 |
29.0 |
93.0 |
64.0 |
0.39 |
15.2 |
1.50 |
RC13-86 |
16.7 |
30.5 |
13.7 |
0.28 |
6.1 |
0.59 |
RC13-87 |
38.1 |
48.8 |
10.7 |
0.22 |
4.6 |
0.44 |
RC13-88 |
3.1 |
73.2 |
70.1 |
0.52 |
35.1 |
0.98 |
RC13-89 |
0.0 |
48.8 |
48.8 |
0.21 |
15.2 |
0.53 |
RC13-90 |
15.2 |
27.4 |
12.2 |
0.28 |
10.7 |
0.30 |
RC13-91 |
32.0 |
41.2 |
9.2 |
0.31 |
3.1 |
0.75 |
RC13-93 |
16.7 |
79.3 |
62.5 |
0.27 |
19.8 |
0.58 |
RC13-94 |
0.0 |
44.2 |
44.2 |
0.24 |
22.9 |
0.38 |
RC13-95 |
10.7 |
62.5 |
51.8 |
0.30 |
21.3 |
0.64 |
RC13-96 |
1.5 |
88.4 |
86.9 |
0.62 |
62.5 |
0.79 |
RC13-97 |
59.4 |
100.6 |
41.1 |
1.62 |
27.4 |
2.41 |
RC13-98 |
22.9 |
74.7 |
51.8 |
0.24 |
35.1 |
0.30 |
RC13-100 |
50.3 |
82.3 |
32.0 |
0.22 |
18.3 |
0.34 |
RC13-101 |
62.5 |
100.6 |
38.1 |
0.70 |
19.8 |
1.28 |
RC13-103 |
1.5 |
9.1 |
7.62 |
0.35 |
3.1 |
0.81 |
RC13-64/76/82/85/92/99/102 contained no significant
mineralization. |
Notes:
- Grade/width of mineralized intersection as shown is complete
interval "from" "to" drill depths as shown.
- Grade/width as shown is total of only those mineralized
individual drill composite samples that have gold grade in excess
of cut-off at current Lluvia de Oro mining operations (0.15 g/t
gold)
- 39 drill holes were completed in the current drill program for
a total of 4613 meters. Holes were a mixture of vertical and
inclined (70 degrees).
- Holes were not necessarily completed to the ultimate margins of
the mineralization. Therefore it cannot be certain that the
drill widths outlined in Table 1 represent the true widths of the
mineralization.
- All numbers are rounded.
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.
SOURCE NWM Mining Corporation