Nitinat Minerals Corporation

September 15, 2010 11:57 ET

Nitinat Announces the Commencement of its Work Program for the Jasper Property

TORONTO, ONTARIO--(Marketwire - Sept. 15, 2010) - Nitinat Minerals Corporation (the "Corporation") (TSX VENTURE:NZZ) is pleased to announce the commencement of the initial phase of its 2010 field work program on its 100% owned Jasper Property. The Jasper Property is located on west-central Vancouver Island, British Columbia, and consists of 10 mineral claims covering 6,615 hectares.

The Jasper Property is underlain mainly by the calc-alkalic volcanic, volcaniclastic and sedimentary rocks of the Jurassic Bonanza Group. The northeast portion of the property is underlain by Parson Bay argillites, Quatsino limestones and Karmutsen mafic volcanics of the Triassic Vancouver Group. Stocks and dykes of granodiorite and quartz feldspar porphyry, probably of the Middle Jurassic Island Plutonic Suite, intrude all other rocks on the Property. A north-northeast trending fault structure and co-incident 4 km. long pyritic alteration zone transects the Jasper Property, and contains numerous soil anomalies and bedrock showings of copper, zinc, lead, silver and/or gold.

The geological setting of the Jasper Property is considered favourable for two distinctly different styles and origins of significant metallic mineralization:

  • Noranda/Kuroko Massive Sulphide Copper-Lead-Zinc-Silver-Gold (syngenetic with host rocks) of Jurassic age
  • Porphyry Copper-Molybdenum-Gold; and related Copper Skarn; and related Epithermal Gold-Silver-Copper (epigenetic) of probable Jurassic or possible Eocene age

The Jasper Property covers four (4) documented British Columbia MINFILE occurrences discovered during the 1970's and 1980's as follows:

  • Avallin – MINFILE 092C037 – Copper, Silver Showing
  • Jasper – MINFILE 092C080 – Copper, Silver, Lead, Zinc Showing
  • Tam – MINFILE 092C081 – Copper, Zinc Showing
  • Pan – MINFILE 092C088 – Copper, Zinc, Lead, Gold, Silver Showing

Sixteen (16) new and unexplained soil geochemical anomalies and nine (9) additional metallic bedrock mineral showings were discovered on the Jasper Property by Inspiration Mining Corporation ("Inspiration") during the last major field program conducted in 2004. Highlights from representative bedrock chip sampling of both previously known and new mineral showings are as follows:

  • Jasper – 3.2% Cu, 9.2% Zn, 12 g/t Ag, 0.125 g/t Au over 1.3 m. width from one of two semi-massive bands of pyrite, chalcopyrite, sphalerite and minor galena exposed over a strike length of 44 m. in logging road cuts
  • Pan (North) – 3.2% Cu, 12.6% Zn, 0.6% Pb, 29 g/t Ag, 0.095 g/t Au over 2.0 m. width from a cross-cutting sulphide stringer zone, and contains a massive sulphide layer of sphalerite and galena exposed over a strike length of 30 m. which yielded 16.2% Zn and 2.7% Pb over 0.25 m. width exposed in a logging road cut
  • Pan (South) – 2.1% Cu, 22.3% Zn, 17.2% Pb, 26 g/t Ag, 0.15 g/t Au over 1.9 m. from massive sulphides containing sphalerite, galena and chalcopyrite exposed in a logging road cut and across the road bed
  • Upper 4 Mile Creek – 1.95% Cu, 0.16% Zn, 5.6 g/t Ag, 0.03 g/t Au over 0.9 m. containing disseminated, clustered and veinlet pyrite and chalcopyrite, exposed in outcrop along the side of a creek for 125 m.
  • Camp View – 1.36% Cu, 0.056% Zn, 4.0 g/t Ag, 0.02 g/t Au over 0.6 m. containing disseminated to blebby pyrite and chalcopyrite exposed in two adjacent outcrops of altered volcanics
  • South Camp Creek Road – 6.86% Cu, 0.01% Zn, 35 g/t Ag, 0.03 g/t Au over 1.3 m. from cherty zone containing massive sulphides exposed in a logging road cut
  • Upper Pan – 0.81% Cu, 0.025% Pb, 0.044% Zn, 3.7 g/t Ag, 0.09 g/t Au over 3.0 m. from altered volcanics containing up to 20% sulphides exposed in a trenched outcrop

Geochronological investigations completed by Inspiration in early 2008 of base metal sulphide mineralization from the Jasper and Pan showings suggests that a syngenetic origin of Jurassic age for the mineralization is possible. However, the medium to coarse grained nature of the sulphides suggests that they probably represent some form of epigenetic mineralization.

A helicopter-borne electromagnetic and aeromagnetic survey completed over the Jasper Property by Inspiration in 2008 detected 22 low-conductance electromagnetic ("EM") anomalies, none of which are co-incident with the known sulphide showings on the Jasper Property, and all of which are unexplained at this time. Twenty one of the EM anomalies appear as multiple linear clusters located in the unexplored east-central portion of the Property, which has by far the highest background conductivity in the survey area.

The 2010 field work program consists of focused prospecting, rock sampling and grid-based soil geochemistry to follow up the 16 unexplained soil geochemical anomalies, and also focused prospecting, rock sampling and stream moss mat sampling to ground-truth the 21 airborne EM anomalies.

The field work program is being supervised by Jacques Houle, P.Eng., a Qualified Person pursuant to National Instrument 43-101. Mr. Houle has reviewed the contents of this news release.

This update 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". Nitinat 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. Nitinat cannot assure investors that actual results will be consistent with these forward looking statements and Nitinat assumes no obligation to update or revise the forward looking statements contained in this release to reflect actual events or new circumstances.

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

  • Nitinat Minerals Corporation
    Victor Cantore
    Director of the Corporation