International Millennium Mining Corp.
TSX VENTURE : IMI
FRANKFURT : L9J

International Millennium Mining Corp.

December 09, 2009 09:00 ET

International Millennium Mining Corp.: Simon Mine Nevada Property Exploration Highlights, Drilling to Start January 2010, $735,000 Private Placement Announced

NORTH VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 9, 2009) - International Millennium Mining Corp. (the "Company" or "IMMC") (TSX VENTURE:IMI)(FRANKFURT:L9J) is pleased to announce the highlights of the mobile metal ion (MMI) soil sampling survey contained in a recent report (the "Report") submitted by David Mark, P.Geo., describing exploration carried out on the Simon Mine Property in 2007 and 2008. Further to the Company's news release of May 26, 2009, the survey indicates mineralization on the property is polymetallic in nature, possibly a lead-zinc skarn deposit that grades into a gold skarn. The survey also indicates gold, lithium and rare earth element anomalies. Based on the strength in the MMI soil sample data and its correlation with known mineralization, induced polarization (IP) anomalies and geological mapping of the property, the full results are considered to be very promising for finding ore-grade mineralization. A nearby example of a gold skarn is the Fortitude deposit located near Battle Mountain, Nevada which consisted of 5.1 million tonnes of 10.45 grams/tonne gold.

The highlights of the 2007 and 2008 Simon Mine Property MMI soil sampling survey include:

  1. The MMI survey indicates that there is a minimum of 1,200 meters of undiscovered Simon Mine mineralization. The main MMI anomaly is the Simon Mine anomaly consisting of highly anomalous values in lead, zinc, and silver. It has been labeled 'A' and strikes in a west-south-west (WSW) direction along the northern edge of the Luning limestone, for a minimum length of 1,750 meters being open to the WSW. The Simon Mine workings occur along anomaly 'A' but for only 550 meters indicating that there is a minimum of 1,200 meters of unknown lead-zinc-silver mineralization, presumably of similar grade to that which was mined. In addition, the mine anomaly extends a few hundred meters to the north in the Simon Mine area indicating unknown lead-zinc-silver mineralization occurring in this area as well. The Simon Mine is a past lead, zinc, silver, gold and copper producer. In addition, there are unsubstantiated reports that 50,000 to 100,000 tons of ore, with unknown grade, remain within the mine; however, this cannot be confirmed until the underground workings are dewatered.
  2. There are strong MMI gold results within the Simon Mine property that are highly indicative of ore-grade gold mineralization along substantial strike lengths. The main gold anomaly is 'B' which occurs to the immediate north of the Simon Mine anomaly. This anomaly has a minimum strike length of 1,000 meters and an approximate width of 300 meters. The strongest part of the anomaly is open to the west, indicating that the gold mineralization continues to the west. A second gold anomaly, labeled 'C', consisting of strong gold results occurs along the western edge of the Luning limestone for a minimum strike length of 2,400 meters, being open to the south.
  3. Uranium and molybdenum mineralization is strongly indicated from MMI anomaly 'D' to occur along the western part of the property to the immediate west of anomaly 'C'. The size of anomaly 'D' is a minimum 800 meters with it being open to the west by up to 300 meters. Like gold anomaly 'B', the strongest part of the anomaly is at the western edge suggesting that the uranium and molybdenum mineralization continues to the west.
  4. Copper mineralization, as suggested by the MMI data, occurs within the Mine Anomaly 'A' as well as with anomalies 'B', 'C', and 'D'.
  5. A very strong arsenic and antimony anomaly correlates with uranium anomaly 'D' and a second weaker one correlates with anomaly 'A'.
  6. Lithium mineralization is indicated to occur on the Simon Mine property. There are several lithium anomalies, with the best one occurring to the east of the uranium anomaly. This anomaly is up to 400 meters in strike length with an unknown width and correlates with a strong molybdenum anomaly. Two other lithium anomalies occur on either side of gold anomaly 'B', each one with a minimum strike length of 200 meters.
  7. Rare earth element (REE) anomalies occur within the survey area, the most significant one occurs north of gold anomaly 'B,' correlating with one of the lithium anomalies.
  8. The results of the geological mapping, as well as the IP, resistivity, and magnetic surveys provided valuable correlations with the MMI survey results.

There is a widespread occurrence of highly anomalous MMI results for several different metals on the property. This suggests a polymetallic deposit(s), probably a gold and/or a lead-zinc skarn type. The report highly recommends diamond drilling the eastern part of the Simon Mine anomaly, as well as the southeastern part of anomaly 'C'. Diamond drill targets exist on the western part of the Simon Mine anomaly as well as within anomalies 'B', the northern part of anomaly 'C', and anomaly 'D', however, fill-in MMI soil sampling is recommended within these anomalies in order to optimize the drill targets.

The Company is planning a January, 2010 drilling program for the Simon Property, based on recommendations in the Report.

David Mark, P. Geo, in charge of exploration on the property, and a qualified person as defined by National Instrument ("NI") 43-101, has reviewed and approved the technical information contained in this press release.

Private Placement

The Company announces that it is arranging a private placement of up to $735,000 including, $660,000 of non-flow-through units at $0.06 per unit and up to $75,000 of flow-through units at $0.08 per unit. Each unit is comprised of one (1) non-flow-through or flow-through common share and one half (1/2) non-flow-through, non-transferable share purchase warrant, each full warrant entitling the holder to purchase an additional share in the capital stock of the Company at $0.10 per share for a period of two (2) years from the date of issuance. The placement is subject to regulatory acceptance.

About International Millennium Mining Corp.

International Millennium Mining Corp. is a mineral exploration and development company engaged in the acquisition and exploration of polymetallic mineral properties in Canada and the Americas, with a particular focus on small mine deposits. To date, the Company has acquired and is exploring mineral properties in British Columbia and Ontario, Canada; Nevada, USA; and Sonora State, Mexico. Emerging mineral targets include gold, silver, cobalt, molybdenum, zinc, lead, nickel, copper and platinum group metals. The Company's common shares trade on the TSX Venture Exchange under the symbol: IMI and on the Frankfurt Exchange under the symbol: L9J.

ON BEHALF OF THE BOARD

John A. Versfelt, President and CEO

Further information about the Company can be found on SEDAR (www.sedar.com).

This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, potential mineral recovery processes and other business transactions timing. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.

Neither 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 or accuracy of this release.

Contact Information

  • International Millennium Mining Corp.
    Mr. Wayne Meredith
    (604) 569-2509
    waynem@immc.ca
    or
    International Millennium Mining Corp.
    Mr. John Versfelt
    President & CEO
    (604) 984-9907
    (604) 983-8056 (FAX)
    info@immc.ca