Inspiration Mining Corporation

Inspiration Mining Corporation

July 07, 2010 10:30 ET

Inspiration Mobilizes Drill To Langmuir One Extension per Micon's Report

TORONTO, ONTARIO--(Marketwire - July 7, 2010) - Inspiration Mining Corporation ("Inspiration" or the "Corporation") (TSX:ISM)(FRANKFURT:OI8) is pleased to announce the commencement of a new infill and detail drill program on the extension of the Langmuir One nickel deposit. The Langmuir property comprises 69 mining claims covering 1121 hectares in the Langmuir Township, 25 km southeast of Timmins, Ontario. It hosts the past nickel producing mines of Langmuir No. 1 and 2.

Exploration holes drilled in the area in 2007 and 2008 revealed various massive and disseminated sulfide mineralization zones hosted in komatiitic basalts, komatiites and ultramafic intrusives.

The first zone, exemplified by intersections in Table 1, shows high grade nickel and is stratigraphically above the Langmuir One host komatiite. It extends for at least 150 m and is open at depth. The Corporation believes that a 2000 m infill drilling program will allow it to precisely define the zone and its continuity with the already defined Langmuir One nickel deposit.

    Table 1    
Hole Id   Length (m)   Nickel (%)
IMCEX-23   11.7   1.59
    48.8   0.56
IMCEX-24   4   0.44
    34.8   0.3
IMCEX-51   10.9   1.15
IMCEX-52   25.4   1.45

The second zone is located 200 m NE of the Langmuir One deposit in identical komatiite stratigraphic level. It contains low grade nickel, as shown on Table 2, extends for 450 m and is open at depth. The Corporation believes that a 1500 m infill drilling will allow it to define the extension of the zone and its potential.

    Table 2    
Hole Id   Length (m)   Nickel (%)
IMCEX-57   70   0.23
IMCEX-31   115   0.25
IMCEX-1   164   0.24
IMCEX-32   153   0.24

The third zone is located 650 m NW of the Langmuir One deposit in ultramafic intrusive startigraphically above the first high grade zone hosted in basalts. The zone contains low grade nickel as shown on Table 3, extends for at least 500 m and is open at depth. The Corporation believes that a 1500 m infill drill program will allow it to define more precisely the zone, its extension and potential. 

    Table 3    
Hole Id   Length (m)   Nickel (%)
IMCEX-8   141   0.24
IMCEX-7   34   0.26
IMCEX-36   63   0.23
IMCEX-13   42   0.25

Mr. Randy Miller, the President of the Corporation, stated "The additional 5,000 m infill drill program is a step forward in enabling the Corporation to identify the areas of mineralization that are believed to hold the potential to host the additional 20 to 40 million tonnes of nickel mineralization that was identified by Micon International Limited in its National Instrument 43-101 compliant resource estimate report for the Langmuir North Deposit and the Langmuir No 1 Deposit. This drill program is a significant milestone in the Corporation's efforts to maximize the full potential of the Langmuir Property."

The Qualified Person in charge of the Langmuir Property and the person who prepared the technical data in this release is Andre Ciesielski, P. Geo.

Forward Looking Statements

This news release contains "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "anticipated", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Inspiration is subject to significant risks and uncertainties which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward looking statements contained in this release. Inspiration cannot assure investors that actual results will be consistent with these forward looking statements and Inspiration assumes no obligation to update or revise the forward looking statements contained in this release to reflect actual events or new circumstances.

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

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