NMW Mining Corp. is now
listed and trading on the Frankfurt Stock Exchange - Frankfurter Wertpapierboerse - under Ticker: 55C with the WKN: A0Q57P and ISIN Code: CA62946X1042
NWM
Drills 15 Meters of 1.082 g/t Au, 18.88 g/t Ag and 0.401% Cu at Lluvia de Oro
TSX Venture Exchange - Symbol: NWM - Shares Outstanding: 304,131,093
Toronto, ON - NWM Mining Corporation (the �Company�
TSX-V: NWM) is pleased to announce additional drilling results from the
on-going 2010 drilling program at the Company�s wholly owned Lluvia-Jojoba project, located in northern Sonora, Mexico.
The Company has received and reviewed the results of an additional 27 core
drill holes completed at Lluvia de Oro since the
drill results reported July 20, 2010. These new data include core drill holes
L10-017 through L10-043, which were drilled primarily to the northeast and
southeast of the Creston Pit.
Results of current exploration drilling are expected
to add new mineral resources and mineable reserves to the sum of resources and
reserves reported in Company�s NI 43-101 report of July 8, 2010. Using a
cut-off grade of 0.2 g/t gold and $900 per ounce gold price, the combined
Mineral Reserves for the Lluvia-Jojoba project
currently stand at Proven plus Probable Reserves of 19,537,925 tonnes, grading 0.612 grams per tonne
gold, for a total 384,361 ounces gold. The Mineral
Reserves are contained within a global Measured plus Indicated (M+I) Resource
base of 23.8 million tonnes at a grade of 0.591 g
Au/t, aggregating 452,456 ounces gold. Inferred resources of 10.2 million tonnes at 0.516 g Au/t are not included in the above
figures, but converting these to higher resource categories constitutes one of
the objectives of 2010 drilling.
Northeast
Pit Extension
NE Pit Extension is a partially defined zone of
gold-silver mineralization with minor copper that extends from the northern
edge of the Creston Pit for 860 meters to the northeast. Mineralization exists
primarily in fractures within fine grained clastic
sediments in the upper plate of a detachment fault system. Upper plate lithologies occur in a trough-like wedge of rocks that
thickens from approximately 50 to 60 meters thick in the Northeast Pit
Extension area to in excess of 300 meters thick in the southwest part of
Creston Pit.
Drilling in the NE Pit Extension was directed
primarily at redefining existing inferred grade blocks, based on previous
drilling where drill lines were 93 to 100 meters apart. The following table
summarizes these results of these drill holes which better defines the distribution
of known gold-silver-copper mineralization along the northern part of the NE-SW
trending Lluvia Shear. All intercept lengths
represent vertical widths, which are considered to be true widths of
mineralization.
Central
Creston Pit
Two drill holes were drilled in the central Creston
Pit to delineate a zone of intense chlorite alteration with associated
gold-silver-copper mineralization. Surface expressions of the chlorite altered
rock exhibit unoxidized sulfide mineralization in the
central portion of Creston Pit. The zone of interest is subject to near-term
mining, but due to its variable sulfide content, it will be stockpiled in-part,
for special treatment to recover the relatively high-grade metal values. Drill
logs for hole L10-042 indicate that the top 32 meters
on the east side of the 51.4 meter intercept will be dominantly oxide material
suitable for near-term leaching.
Hole
L10-043, also drilled through the chlorite-sulfide zone, indicates that the
western zone of interest is dominated by sulfide mineralization over the entire
width of 21.7 meters and will be stockpiled for future treatment. All
intercepts are vertical thickness of inclined drill holes, representing true
widths of mineralization.
Southeast
Lobe
Drilling in the Southeast Lobe (SEL) of Creston Pit
encountered substantially greater copper�silver mineralization than observed in
the central Creston Pit and the NE Pit Extension. Due to increased thickness of
lithologies in the upper plate of the detachment
fault, the vertical range of mineralization is greater in the SEL than defined
elsewhere in the Lluvia de Oro deposit.
Igneous lithologies not
previously observed at Lluvia have been encountered
in the SEL drilling. In drill hole L10-033, a thin intercept of quartz-feldspar
porphyry was encountered at 196.0 to 203.5 meters. A similar intercept was
encountered between 215.5 to 224.5 meters in hole
L10-035 with thicker intercepts in holes L10-036 through L10-041. The
quartz-feldspar porphyry, interpreted to be a sub-volcanic igneous rock with
exotic rock fragments situated between the detachment fault
and overlying clastic sediments, exhibits several
percent disseminated sulfides with intense sericite
alteration. This lithology is the first lithology found at the property with these mineralization
characteristics. A variably thick zone of high copper-silver mineralization
often occurs near the contact with this lithology,
indicating a possible genetic relationship to mineralization.
Other Drill
Results
Three condemnation holes (L10-026, -027, and -028)
were drilled in the area of the polvorines
(explosives magazines) to confirm the absence of mineralization. Results of the
drill holes in that area confirmed the absence of mineralization under the polvorines. Three other drill holes (L10-018, -019, and
-020) were drilled on the edge of the mineralization defined for the NE Pit
Extension area; these holes did not return significant assay results.
The southwest portion of Creston Pit was explored to
test for mineralization below a series of angle drill holes that returned favourable mineralization in the central part of Creston
Pit. Those holes (L10-029, -030, and -034) did not encounter new
mineralization, and appear to constrain the known mineralization, at that
location and to the depths tested, in the direction of the waste storage areas
and leach pads.
The Company is also pleased to announce that the
second phase of reverse-circulation (RC) drilling, consisting of 2,000 meters,
has been undertaken on the Lluvia de Oro project.
This drilling is intended to complement the core drilling program which will
continue throughout the remainder of this year. Phase Two of the RC drilling is
concentrated in the NE Pit Extension and is intended as in-fill drilling to
supplement the core drilling in converting inferred resources to higher
quantifiable resource categories. This drilling includes both angle and
vertical drill holes ranging from 100 to 150 meters depth. Results of the RC
drilling program are expected to be reported in mid-December. An update of NWM
Mining Corporation�s mineral resources for Lluvia de
Oro as a result of the drilling is under review by the Company�s in-house
consultants.
Sample QA/QC
NWM Mining Corp. strives to procure high quality
sample information from its operations. The Company�s Qualified Person designed
and oversees sample handling, field preparation and quality control procedures,
which start at the drill. The tops and bottoms of core boxes are marked to
ensure core is laid in the proper order and when broken by the core handlers to
fit into the core trays, the break points are clearly marked. Core is removed
from the drill daily and stored in a locked container until processed. The core
is measured and logged in detail by experienced geologists, marked for
sampling, split by core saw or percussion splitter and � of each sample
interval bagged, secured with safety ties, and stored under chain of custody
procedures until shipped by commercial carrier to the processing lab. ALS-Chemex, an ISO 9001:2000 certified laboratory, receives the
samples and prepares them at their Hermosillo, Sonora facility. Core samples
are dried, fine-crushed to nominal 2mm size, with 250 gram homogenized pulps
prepared for shipment to the ALS analytical lab in Nevada or Vancouver, Canada.
Pulverized pulps are analyzed by 50 gram fire assay with AA finish. A 15 gram
sub sample is analyzed by 43-element ICP methods to provide a broad range of
geochemical information for analysis. Certified sample standards (every twenty)
from WCM Minerals of Burnaby, BC Canada and sample blanks are included in the
sample suite. Analytical data is returned to the QP by e-mail attachment and
the data is checked for consistency and recorded.
Mr. Rodney A. Blakestad,
C.P.G., is the designated Qualified Person pursuant to National Instrument
43-101 of the Canadian Securities Administrators for this press release and has
reviewed and approved the technical and scientific disclosure contained herein.
The TSX
Venture Exchange has not reviewed and does not accept responsibility for the
adequacy or accuracy of this release.