International Millennium Mining Corp.

International Millennium Mining Corp.

June 22, 2011 09:01 ET

International Millennium Mining Corp.: First Mex Confirms New Target & Issues Mexico Property Exploration Update

NORTH VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 22, 2011) - International Millennium Mining Corp. (TSX VENTURE:IMI) (the "Company") is pleased to provide its shareholders the following exploration update on its Hilda Group properties in Sonora State, Mexico operated by First Mexican Gold Corp. ("First Mex`) (TSX-V: FMG) under an option and joint venture agreement with the Company and the Company's wholly-owned Mexico subsidiary, Minera Internacional Milenio S.A. de C.V. ("MIMSA") wherein First Mex holds the right to earn 80% interest in the Company's Hilda Group properties.

First Mex has announced results of the extensive 3D IP (Induced Polarization) geophysical survey carried out by SJ Geophysics on, what First Mex refers to as, the Guadalupe Gold & Silver Project.

SJ Geophysics' scope of work involved acquisition and interpretation of 42 line kilometers of 3D IP (Induced Polarization) chargeability and resistivity geophysical survey responses over two specific targeted zones: 1) The Diana zone, in order to complement positive results from three earlier diamond drill holes HDH 11-9 thru HDH 11-11drilled over a 400 metre spacing on the Eastern flank of a significant ridge carried out in January & February, 2011 and an earlier (2010) grid and trenching surface sampling campaign completed in 2010; and, 2) The North to South geographic corridor from the earlier discovered Karen Zone (North) down to the Bailey Zone (acquired in Q1-11) in the South, where a comprehensive and successful grid surface sampling program was carried out during the 2010 exploration campaign.

The geophysics survey program on both targets was configured on 100 meter spaced lines and dipole lengths for an optimized interpretation of expected near surface targets. The highlights of this survey and interpretations can be summarized as follows:

1. Diana Zone (11.3 line kilometers):

Strong (primary) chargeability in the range of 15 to 20ms (milliseconds) confirms a target that strongly correlates over the 400 meter spacing of holes HDH 11-9 thru 11 in the Eastern flank, while also extending West an additional +600 metres at widths from 80 to 150 meters and reaching depths up to 175 metres below surface. Background values are at below 10 milliseconds.

Additionally, a secondary, but almost equal in size chargeability target, was discovered offset 90 degrees and only a couple of hundred meters North Northwest from the Western extent of the above (primary) Diana Zone, where no earlier prospecting, mapping, drilling or sampling by First Mex has been carried out. To view a Plan View and snapshot of 3D modeling of the survey and interpretations, click on the following First Mex website links: 06-11.pdf

2. Corridor (North to South) from Karen to Bailey Zones (30.5 line kilometers):

Discovery of a significant chargeability target now being referred to as the Erica Zone, lying near surface in the ridge adjacent (Southeast) to the known high grade Karen Zone, trending South towards the known mineralized Bailey Zone, with interpreted response at +12 to 14 milliseconds ("ms"), indicates the presence of a near surface target measuring 1.1 kilometers in length, from 150 to 350 metres in width and an interpreted minimum (bottom) depth of at least 350 to 400 meters. A more defined target at a response of +18ms within this same area has a length of approximately 600 metres and widths from 75 to 250 metres. Background values are below 10 ms.

Based on the survey's configuration, known regional characteristics of structures and geology, as well as known results from other surveys carried out in the area, SJ Geophysics concludes with confidence the likelihood or expectation of the structure responsible for this chargeability to be open at depth until further tested by either drilling or a 'depth' configured 3D-IP data acquisition survey. To view a snapshot of this 3D modeling and correlating surface sampling data select the following First Mex website link:

3. Karen Zone:

9 x 800 metre North to South survey lines on 100 meter spacing over the entire Karen Zone area strongly confirm a secondary area of intruded chargeability under the known hematite cap lying at the top of the ridge from the Karen Zone and on trend along a known andesite contact. This area is approximately 300m East Northeast of the strongly mineralized discovery hole HDH 09-03 in 2009 (eg: from surface to 37.8m averaging 6.5 gpt Au and 678 gpt Ag; also within a 16.9m intercept averaging 10.6 gpt Au and 1,400 gpt Ag beginning at 12.2m depth). Here First Mex interprets a sulphide oxide transition zone similar, and associated, to what is encountered at the Karen Zone. To view four cross sections covering this new area of interest (Karen East) please click on the following First Mex website link:

This area trending Northwest to Southeast along a known andesite contact for over 800 metres is proving to be comprised of moderately complicated geology hosting strongly mineralized oxides and sulphides with very significant gold and silver values.

After reviewing and evaluating the above results, First Mex's technical staff have designed and planned a next phase of drilling at the Diana Zone that contemplates up to 15 strategically sequenced 100 metre spaced diamond drill holes to depths up to 200 metres, in order to further delineate and define the extents of this target in a manner where positive results can support developing an inferred resource estimate compliant with NI 43-101.

Secondly, the Company now contemplates a first phase of drilling at the Erica Zone that requires at least 10 holes (with depths up to 450 meters) to fully investigate the physical characteristics and extents of the interpreted structure. At present, only 3 holes have been drilled (HDH 11-12 through HDH 11-14).

Lastly, while drilling hole HDH 11-15 at the Bailey Zone, the drill rig experienced mechanical failure on May 24. Repairs were completed and drilling resumed on June 18. After completing HDH 11-15, this drill rig will resume drilling at the Karen Zone to continue definition drilling, as well as further investigate this new area of interest.

As First Mex prepares for the arrival of a second drill on site, access road and drill pad construction continues along with selective prospecting, surface sampling and mapping of existing known targets (within the original concessions), as well as new known targets within the recently acquired contiguous land packages.

Additionally, First Mex's newly constructed camp and compound area is now fully operational and secured.

In the absence of any major delays, the above work is scheduled to be completed within the next 3 to 4 months. During this time, First Mex aims to continue providing shareholders and the Company with ongoing updates and results, as well as additional information and content for its website.

"We're expecting the pace and scope of exploration and drilling to ramp up quite a bit in the near term. After meeting and reviewing the results with SJ Geophysics, First Mex's level of confidence in the Diana Zone, having the size necessary to support a plus 1 million ounce gold equivalent target, has been strongly demonstrated with the chargeability's strong correlation to First Mex's earlier drilling and surface sampling. Having discovered the Erica Zone as a chargeability target that is considerably larger than Diana, and also well supported by strongly correlated anomalous grid surface sampling, the Erica Zone is a real bonus for First Mex's shareholders" remarks First Mex President & CEO, Jim Voisin. Mr. Voisin further states, "We are very keen to fully investigate the potential of the Erica Zone in these coming months.

However, just as encouraging for the near term is to learn how the area around the higher grade Karen Zone appears to be expanding along the andesite contact.".

John Archibald, PGeo, of Billiken Management Services Inc., a qualified person pursuant to NI 43-101, has reviewed and approved the technical disclosure of this press release on behalf of IMMC, while Trent Pezzot, B.Sc., P.Geo., and Senior Geophysicist with SJ Geophysics has also reviewed and approved the technical disclosure relating to results and interpretations of the 3D-IP survey.

About First Mexican Gold Corp.

First Mexican Gold Corp is an active explorer for precious metals in Mexico and holds an option to acquire 80% interest in the Guadalupe property package from MIMSA. First Mex now controls a total of 15,112 hectares in this high potential exploration area.

About International Millennium Mining Corp.

International Millennium Mining Corp. is a mineral exploration and development company engaged in acquiring known small mine deposits world-wide and in the exploration of polymetallic mineral properties in Canada and the Americas. To date, the Company has acquired and is exploring mineral properties in Ontario, Canada; Nevada, USA; and Sonora State, Mexico. Emerging mineral targets include silver, gold, zinc, lead and copper. The Company's common shares trade on the TSX Venture Exchange under the symbol: IMI and on the Frankfurt Exchange under the symbol: L9J.


John A. Versfelt, President and CEO

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.
    Ms. Sheri Barton

    International Millennium Mining Corp.
    Mr. John Versfelt
    President & CEO