Inomin Mines Commences Exploration at King's Point Project
TSX VENTURE: MINE
Vancouver, British Columbia--(Newsfile Corp. - October 10, 2017) - Inomin Mines Inc. (TSXV: MINE) ("Inomin" or the "Company") has initiated exploration at the Beetle Pond Zinc Volcanogenic Massive Sulphide (VMS) target, one of eight mineral areas at the Company's King's Point project in the Springdale area of Newfoundland. A program of line-cutting, soil geochemistry and high-resolution ground magnetometer surveys will be performed in an area around the Beetle Pond zinc prospect.
The exploration is designed to extend previously identified base and precious metals soil geochemistry anomalies, coincident with Induced Polarization (IP) anomalies and magnetic structures, that were identified in the Company's 2016 field program. The line-cutting is also in preparation for a geophysical program over Beetle Pond.
Left: Map illustrating gold in soil anomalies (pink areas) identified by previous exploration
Right: Ground magnetics; red lines represent new survey areas
Beetle Pond is located just south of the Golden Anchor gold zone (see map below) within a large base metal geochemical anomaly measuring in excess of 1.5 kilometres long. A strong IP anomaly extends approximately 700 meters across the mineral showing and off the target to the northwest. Limited shallow drilling intersected highly chloritized felsic volcanics with widespread, strong alteration, as well as disseminated and narrow massive sulphide mineralization. A drill hole intersected 1.6% zinc over 2 metres.
"With zinc inventory levels approaching critical low levels, zinc prices are at a five year high," said John Gomez, President, Inomin Mines. "We are fortunate to have multiple zinc and gold exploration targets at King's Point."
About the King's Point Gold-Copper-Zinc Property
The King's Point gold-base metals project is within the prolific Catcher's Pond Greenstone Belt in the Green Bay area of Newfoundland, noted for high-grade gold deposits. The property comprises 3,225 hectares in two separate claim blocks (North and South Blocks) that host several priority "Buchans-style" VMS exploration targets, as well as intermediate-stage targets including the Golden Anchor mesothermal gold prospect, the former Rendell-Jackman copper producer, and the Beetle Pond zinc prospect. These targets are near the high-grade Hammerdown gold deposit and the Lochinvar VMS deposit. The region has excellent infrastructure and accessibility, located only minutes from the communities of King's Point and Springdale, the mining hub of Newfoundland.
Figure 2: Map of King's Point project (North and South blocks) showing eight main mineral areas on Inomin's properties, as well as other gold and base metal prospects and deposits in the region
About Inomin Mines
Inomin Mines is engaged in the identification, exploration and development of mineral properties. The Company holds a 100% interest in the King's Point polymetallic (gold-copper-zinc) project in Newfoundland's prolific Green Bay mineral region. Inomin Mines trades on the TSX Venture Exchange with the symbol MINE. For further information visit www.inominmines.com.
Inomin Director Bruce Winfield P.Geo, a qualified person as defined by NI 43-101, has reviewed and approved the technical information in this news release.