SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Gold/Mining/Energy : Mining News of Note -- Ignore unavailable to you. Want to Upgrade?


To: LoneClone who wrote (30960)1/8/2009 8:21:03 PM
From: LoneClone  Read Replies (1) | Respond to of 194965
 
Inspiration Intersects 0.674% Ni Over 24.44m or 80.18ft Containing 1.091% Ni Over 7.98m or 26.18ft (True Width)
Thu Jan 8, 11:30 AM

ca.news.finance.yahoo.com

TORONTO, ONTARIO--(Marketwire - Jan. 8, 2009) - Inspiration Mining Corporation (the "Corporation") (TSX: ISM.TO)(FRANKFURT:OI8) is pleased to announce the results of the continuation of their diamond drilling program on its Langmuir Project, located in Langmuir Township south of Timmins, Ontario. The Langmuir Property consists of 69 unpatented contiguous mining claim units covering approximately 1090 hectares in the north-central portion of Langmuir Township, Porcupine Mining Division, and District of Cochrane, Ontario. The property is approximately 25 km southeast of Timmins, Ontario, and hosts the past producing Langmuir No.1 Mine, and majority of the past producing Langmuir No. 2 Mine.

Inspiration is continuing the drilling at the Langmuir Project - Langmuir No.2 Mine - North Zone. The detail fill-in drill program is designed to complete the definition of the nickel bearing mineralization. Several drill holes were terminated in nickel bearing mineralization and these drill holes have been extended.

The following table indicates the drill information for the North Zone drill holes:

---------------------------------------------------------------------------
---------------------------------------------------------------------------
Drill Hole Grid Grid Dip Azimuth Section Section Length
Northing Easting (Geodetic) Northing Easting (m)
(metres) (metres) (metres) (metres)
---------------------------------------------------------------------------
---------------------------------------------------------------------------
LN08-124 3230.83 2001.64 -59.16 297.73 3798.80 118.06 199.82
---------------------------------------------------------------------------
LN08-125 3230.65 2002.02 -71.71 299.15 3798.83 118.47 203.45
---------------------------------------------------------------------------
LN08-126 3219.83 1970.06 -50.35 300.95 3773.49 96.21 169.89
---------------------------------------------------------------------------
---------------------------------------------------------------------------

Drill holes LN08-124 and LN08-125 were completed on Section 3800 North and below previously released drill holes LN06-30 and LN06-31 to follow up the down dip extension of higher grade nickel mineralization. The intersections in LN08-124 range approximately from 97.55m to 115.12m vertically below surface while the intersections in LN08-125 ranges approximately from 155.02m to 174.53m. The intersection in LN08-125 is approximately 57.65m down dip from LN08-124.

Drill hole LN08-126 was completed on Section 3775 North to fill in a gap between previously released drill holes LN06-63 and LN05-10, which are stratigraphically approximately 10m above and 29m below LN08-126, respectively.

The above drill holes continue to confirm the presence of a higher-grade nickel bearing mineralization within the northern portion of the Langmuir No.2 North Zone.

The following revised assay results for drill holes LN08-124 to LN08-126, inclusively at the Langmuir No.2 Mine - North Zone have been received, compiled and condensed to the following:

----------------------------------------------------------------------------
----------------------------------------------------------------------------
Drill Hole From To Core True Core True Weighted
(m) (m) Length Width Length Width Average
(m) (m) (ft) (ft) Ni(%)
----------------------------------------------------------------------------
----------------------------------------------------------------------------

----------------------------------------------------------------------------
----------------------------------------------------------------------------
LN08-124 115.20 154.00 38.80 28.38 127.30 93.11 0.462
-------------------------------------------------------------------
and Contains
-------------------------------------------------------------------
116.30 125.56 9.26 6.77 30.38 22.21 0.872
-------------------------------------------------------------------
119.05 122.70 3.65 2.67 11.98 8.76 1.004
-------------------------------------------------------------------
123.53 125.56 2.03 1.48 6.66 4.86 1.146
-------------------------------------------------------------------
129.70 137.08 7.38 5.40 24.21 17.72 0.720
-------------------------------------------------------------------
132.27 134.33 2.06 1.51 6.76 4.95 0.972
-------------------------------------------------------------------
146.83 152.03 5.20 3.80 17.06 12.47 0.439
----------------------------------------------------------------------------
----------------------------------------------------------------------------

----------------------------------------------------------------------------
----------------------------------------------------------------------------
LN08-125 138.80 193.85 55.05 29.98 180.61 98.36 0.390
-------------------------------------------------------------------
and contains
-------------------------------------------------------------------
161.29 184.84 23.55 12.83 77.26 42.09 0.634
-------------------------------------------------------------------
or 170.33 182.36 12.03 6.55 39.47 21.49 0.944
-------------------------------------------------------------------
with 170.33 171.82 1.49 0.81 4.89 2.66 2.222
-------------------------------------------------------------------
and 174.72 177.38 2.66 1.45 8.73 4.76 1.382
----------------------------------------------------------------------------
----------------------------------------------------------------------------

----------------------------------------------------------------------------
----------------------------------------------------------------------------
LN08-126 69.43 98.57 29.14 24.44 95.60 80.18 0.674
-------------------------------------------------------------------
and contains
-------------------------------------------------------------------
69.68 74.40 4.72 3.91 15.49 12.83 0.513
-------------------------------------------------------------------
78.10 94.69 16.59 13.91 54.43 45.64 0.869
-------------------------------------------------------------------
with 85.17 94.69 9.52 7.98 31.23 26.18 1.091
-------------------------------------------------------------------
or 85.17 89.40 4.23 3.55 13.88 11.65 1.366
-------------------------------------------------------------------
or 85.17 86.15 0.98 0.82 3.22 2.69 2.455
-------------------------------------------------------------------
and
-------------------------------------------------------------------
101.88 112.50 10.62 8.91 34.84 29.23 0.328
-------------------------------------------------------------------
101.88 106.23 4.35 3.65 14.27 11.98 0.424
-------------------------------------------------------------------
and
-------------------------------------------------------------------
119.00 123.45 4.45 3.73 14.60 12.24 0.596
-------------------------------------------------------------------
122.75 123.45 0.70 0.58 2.30 1.90 1.940
----------------------------------------------------------------------------
----------------------------------------------------------------------------

The nickel bearing sulphide mineralization, with estimations ranging from 1% to 20% fine-grained disseminatations up to massive 100% sulphides, is contained within serpentenized komatiitic ultramaftic extrusive flows with occasional spinifex texture.

The assaying technique used is the industry standard for base metal assaying, which uses nitric and hydrochloric acids that extracts nickel only from sulphide mineralization and not from nickel silicate minerals.

The assaying of split core samples was conducted by Swastika Laboratories, and included the insertion of blanks and standards. The Qualified Person in charge of the Langmuir Project and the person who prepared the technical data in this release is Kian Jensen, B.Sc., P.Geo. (On), who is an arm's length party retained by the Company to carry out its exploration program on the Langmuir Project.

The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contacts

Randy Miller
Inspiration Mining Corporation
President
(905) 853-7400
Website: www.inspirationmining.com

Investor Relations
Gale Capital Corporation
(604) 221-7604
(604) 221-7606 (FAX)
Email: galecapital@shaw.ca