IEMR Resources Inc.
TSX VENTURE : IRI

March 04, 2011 16:29 ET

IEMR Update for Current Exploration Program at Pine Tree

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 4, 2011) - IEMR Resources Inc. (IEMR) (TSX VENTURE:IRI) is pleased to report that drilling is proceeding according to plan on its Pine Tree Property located in Nevada. Two drills are currently drilling on the property with three holes having been completed to date.

The $2.2 million budget exploration program is designed to complete up to 15,000 feet of diamond drilling in approximately 8 holes, which will be used to expand and further delineate the extensive molybdenum, copper, silver and gold mineralization identified in previous drill holes. Initially, the drilling will be concentrated in the northeastern block, where the presence of molybdenum bearing mineralization closer to surface was confirmed from pre-drilling.

To date all holes have encountered three different types of mineralization, corresponding to the three distinct mineralizing events identified on the property. These are the older copper bearing calc-silicate skarn replacement, the molybdenum bearing stockwork and the younger precious-base metal bearing systems.

Hole PT10-22 intersected the molybdenum bearing mineralized zone between 170.1 meters (558 feet) and 371.2 meters (1218 feet), and lead-zinc bearing mineral veins between 316.4 meters (1038 feet) and 319.4 meters (1048 feet), and zinc bearing mineral veins at 389.5 meters (1278 feet) and 395.6 meters (1298 feet).

Hole PT10-23 intersected molybdenum bearing mineralized zone between 213.4 meters (700 feet) and 420.6 meters (1380 feet), and a second zone between 551.7 meters (1810 feet) and 582.2 meters (1910 feet). Copper mineralized zone(calc_silicate skarn) was intersected between 597.4 meters (1960 feet) and 637.0 meters (2090 feet). Several zones of arsenopyrite veins were intersected throughout out the hole crosscutting the molybdenum mineralization observed. Finally a zone of heavy fine black sulphides was encountered between 655.3 meters (2150 feet) and 658.4 meters (2160 feet), both lead and zinc sulphides were visible in this zone.

Hole PT10-24 was just completed (March 1) and geological analysis and sampling is still on going. It too has intersected al three styles of mineralization. As has PT10-25 which is still drilling to a target depth of 701 meters (2300 feet).

Table of hole locations for 2010-2011 drilling to date.
 
Hole Northing Easting Elevation dip azimuth   Length
Number feet feet feet degrees degrees   feet
PT10-22 101,901 200,962 7741 -90 000   2128
PT10-23 101,900 200,960 7741 -80 280   2266.5
PT10-24 101,903 200,964 7741 -65 310   2339.5
PT10-25 102,232 199,652 7379 -65 040   1680 still drilling
PT10-26 102,015 201,478 7748 -65 250   Just starting

Hole PT10-22, 23 and 24 are located due east of hole PT07-12, which assayed 335.9 meters (1102.0 feet) grading 1.14% Cu Eq. (0.101% MoS2 eq., 1.81 lbs MoO3/T). Hole PT10-25 is still progressing, drilling to the northeast, from the same location at PT07-12. Finally, Hole PT10-26 is being drilled to the north of the high grade silver intersection obtained in hole PT08-19 that intersected 10.4 meters (34.0 feet) grading 0.834% copper, 1252.2 gms silver/tonne (36.5 oz/ton), and 0.33% tungsten at the south end of the mineralized zone. The remaining holes in the program will be located based on the results and interpretation of the initial holes..

Almost the entire core was sampled and cut in half using a diamond saw. Half the core is sent for analysis with the other half being kept and stored at the core facility located on site. Following cutting the samples are picked up directly by o ALS Chemex and taken to their fully accredited analytical laboratory in Reno. They are first analyzed for 47 elements using a four(4) acid digestion with analysis by Inductively Coupled Argon Plasma Optical Mass Spectrometer (ICP-MS) and for gold using a 50 gram fire assay with an Atomic Absorption(AA) finish. Copper and Molybdenum bearing samples are then checked by using a larger 5 gram sample and analyzed using a pressed power pellet X-Ray Fluorescence Spectroscopy (XRF). In addition duplicates, blanks, and standards are analyzed to ensure analytical accuracy and reproducibility. All rejects are being kept for further analysis and for use in metallurgical testing.

Assay results will be released once all check assaying and sampling is complete.

Once the drilling is completed the results will be used to calculate a 43-101 compliant resource for the project, the results of which will be used to control additional drilling and development of the project.

Mr. Shaun M. Dykes, M.Sc. (Eng), P.Geo., Exploration Manager and Director of Mosquito is the designated qualified person for the Pine Tree Project, and prepared the technical information contained in this news release.

On Behalf of the Board

IEMR RESOURCES INC.

Hongxue Fu, President and Chief Executive Officer

Notes: Copper equivalent (Cu. Eq.) is based on the following metal prices(all in US$): Copper $2.00/lb, Molybdenum Trioxide ($15/lb), Rhenium $5.25/gram , Silver $0.32/gram and Gallium $0.425/gram. Other factors include 1% = 20 pounds; 1 ppm = 1 gm/T; 1000 ppb =1ppm = 1 gm/T.

Formulas :

Cu. Equiv. = ((Cu* 20*$)+((MoS2*20*(1.5/1.6681)*$(MoO3))+(Re*$)+(Ag*$)+(Ga*$))/ $(copper) *20

MoS2. Equiv. = ((Cu* 20*$)+((MoS2*20*(1.5/1.6681)*$(MoO3))+(Re*$)+(Ag*$)+(Ga*$))/ ((1.6681/1.5)* $(MoO3))*20

THIS NEWS RELEASE WAS PREPARED BY MANAGEMENT WHO TAKES FULL RESPONSIBILITY FOR ITS CONTENTS.

This news release includes certain statements that express management's expectation or estimates of future performance and may be deemed "forward-looking statements". These forward-looking statements include plans, estimates, forecasts and statements as to management's expectations regarding the Pine Tree Project. These forward-looking statements involve assumptions, risks and uncertainties and actual results may vary materially. For these reasons shareholders should not place undue reliance on such forward-looking information.

United States residents are cautioned that some of the information that may be published by IEMR may not be consistent with United States Securities and Exchange Commission disclosure rules and may be materially different from what the Company is permitted to disclose in the United States and therefore United States residents should not rely on such information.

The TSX-Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • IEMR Resources Inc.
    Long Wang
    Chief Financial Officer
    604 642 6199
    604 642 6162 (FAX)
    info@iemr.ca