NWM Drills 1.03 g/t Au over 23.0 Meters from surface at Gold Ridge
TSX Venture Exchange
Symbol: NWM
Shares Outstanding: 501,092,777
TORONTO, Sept. 27, 2012 /CNW/ – NWM Mining Corporation (the “Company”
TSX-V: NWM) is pleased to report on the progress of the air-track (AT)
drilling program conducted on the Gold Ridge target at Lluvia de Oro.
Located approximately 500 meters west of the Lluvia de Oro / Creston
pit, Gold Ridge consists of a quartz porphyry / felsic volcanic unit
with an exposed strike length of 1.4 kilometers and an approximate
thickness of 200 meters. Initially defined by highly anomalous gold in
soil geochemistry, wide spaced percussion drilling in 2011 and diamond
core holes L11-066 and L11-067 confirmed the presence of gold near
surface and at depth. In 2012 (see the Company’s June 6, 2012 Press Release), 20 percussion holes intersected gold mineralization along the east
flank of Gold Ridge, expanding the lateral distribution of the gold
mineralization while also identifying 3 target areas, the North,
Central and South Zones (Figure 1) for follow up drilling.
During June and July 2012, approximately 1,700 meters of drilling were
conducted primarily on the northern and central targets with drill hole
spacing on a 50 x 25 meter grid to a nominal depth of 30.6 meters. All
drill holes were vertical.
Drill results from the Central Zone continue to define a near surface
resource adjacent to and extending northeast from the previously
defined target. Due to the elevated gold grade encountered in this area
a preliminary pit design has been completed and 2 benches will be
blasted in the next few days in order to provide material for
metallurgical testing.
The quartz porphyry at Gold Ridge, having substantial size and hosting
favorable near surface mineralization continues to show the potential
to expand project resources in a new lithology.
“Gold Ridge is a new lithology for hosting gold on the Lluvia-Jojoba
project. Whereas the Lluvia deposit is hosted in sediments and the
Jojoba deposit principally in metamorphic rocks, Gold Ridge is a
volcanic rock type that was previously only known to occur in drill
holes at depth approximately 800 metres east of the ridge. This could
have geological significance in the search for new gold mineralization
on the property and we are encouraged to see gold grades in material
starting from surface and detected so far to depths of 30 meters. This
combination, and the potential for substantial size makes Gold Ridge
the most exciting new exploration initiative on the Lluvia-Jojoba
project,” said Chris Berlet, CEO.
Samples from the drill program were split in the field, bagged, tagged,
and shipped to the ALS-Chemex sample preparation facility in
Hermosillo. Samples were analyzed for gold by fire assay with
AA-finish, and an additional 35 elements by induced-couple plasma (ICP)
methods. ICP data indicate that the gold-bearing intervals are low in
copper and other elements that may affect recovery.
Results of this percussion drilling program are being used to define
shallow mineralization and to develop follow-up drill targets for
reverse-circulation (RC drilling) and core (diamond) drilling programs.
A summary of select results from the Central Zone are listed in Table 1
below. The width of the sample is the true width.
_______________________________________________________
| Hole # |From| To |Width|Interval Weighted|Au (g/t)|
| |(m.)|(m.)|(m.) |Average (g/t Au) |Maximum |
|____________|____|____|_____|_________________|________|
|12-GR-AT-81 |0.0 |30.6|30.6 | 0.517 | |
|____________|____|____|_____|_________________|________|
| including|0.0 |21.6|21.6 | 0.650 | |
|____________|____|____|_____|_________________|________|
| including|5.4 |7.2 | 1.8 | | 2.62 |
|____________|____|____|_____|_________________|________|
| | | | | | |
|____________|____|____|_____|_________________|________|
|12-GR-AT-82 |0.0 |30.6|30.6 | 0.130 | |
|____________|____|____|_____|_________________|________|
|12-GR-AR-86 |0.0 |30.6|30.6 | 0.349 | |
|____________|____|____|_____|_________________|________|
| including|21.6|23.4| 1.8 | | 1.66 |
|____________|____|____|_____|_________________|________|
| | | | | | |
|____________|____|____|_____|_________________|________|
|12-GR-AT-87 |0.0 |30.6|30.6 | 0.489 | |
|____________|____|____|_____|_________________|________|
| including|0.0 |16.2|16.2 | 0.730 | |
|____________|____|____|_____|_________________|________|
| including|0.0 |1.8 | 1.8 | | 1.27 |
|____________|____|____|_____|_________________|________|
| | | | | | |
|____________|____|____|_____|_________________|________|
|12-GR-AT-88 |0.0 |30.6|30.6 | 0.430 | |
|____________|____|____|_____|_________________|________|
| including|3.6 |25.2|21.6 | 0.530 | |
|____________|____|____|_____|_________________|________|
| including|14.4|16.2| 1.8 | | 1.965 |
|____________|____|____|_____|_________________|________|
| | | | | | |
|____________|____|____|_____|_________________|________|
|12-GR-AT-89 |0.0 |30.6|30.6 | 0.336 | 0.997 |
|____________|____|____|_____|_________________|________|
|12-GR-AT-90 |0.0 |30.6|30.6 | 0.050 | |
|____________|____|____|_____|_________________|________|
| | | | | | |
|____________|____|____|_____|_________________|________|
|12-GR-AT-92 |0.0 |30.6|30.6 | 0.818 | |
|____________|____|____|_____|_________________|________|
| including|0.0 |23.4|23.4 | 1.030 | |
|____________|____|____|_____|_________________|________|
| including|21.6|23.4| 1.8 | | 3.03 |
|____________|____|____|_____|_________________|________|
| | | | | | |
|____________|____|____|_____|_________________|________|
|12-GR-AT-93 |0.0 |30.6|30.6 | 0.704 | |
|____________|____|____|_____|_________________|________|
| including|10.8|27.0|16.2 | 1.000 | |
|____________|____|____|_____|_________________|________|
| including|21.6|23.4| 1.8 | | 1.65 |
|____________|____|____|_____|_________________|________|
| | | | | | |
|____________|____|____|_____|_________________|________|
|12-GR-AT-97 |0.0 |30.6|30.6 | 0.294 | |
|____________|____|____|_____|_________________|________|
| including|19.8|21.6| 1.8 | | 1.465 |
|____________|____|____|_____|_________________|________|
| | | | | | |
|____________|____|____|_____|_________________|________|
|12-GR-AT-98 |0.0 |30.6|30.6 | 0.057 | 0.454 |
|____________|____|____|_____|_________________|________|
|12-GR-AT-99 |0.0 |30.6|30.6 | 0.048 | 0.396 |
|____________|____|____|_____|_________________|________|
|12-GR-AT-102|0.0 |30.6|30.6 | 0.247 | 0.887 |
|____________|____|____|_____|_________________|________|
|12-GR-AT-103|0.0 |30.6|30.6 | 0.418 | |
|____________|____|____|_____|_________________|________|
| including|5.4 |7.2 | 1.8 | | 4.25 |
|____________|____|____|_____|_________________|________|
| | | | | | |
|____________|____|____|_____|_________________|________|
|12-GR-AT-104|0.0 |30.6|30.6 | 0.350 | |
|____________|____|____|_____|_________________|________|
| including|27.0|28.8| 1.8 | | 1.745 |
|____________|____|____|_____|_________________|________|
| | | | | | |
|____________|____|____|_____|_________________|________|
|12-GR-AT-105|0.0 |30.6|30.6 | 0.041 | 0.139 |
|____________|____|____|_____|_________________|________|
|12-GR-AT-106|0.0 |30.6|30.6 | 0.020 | 0.091 |
|____________|____|____|_____|_________________|________|
|12-GR-AT-107|0.0 |30.6|30.6 | 0.014 | 0.800 |
|____________|____|____|_____|_________________|________|
|12-GR-AT-108|0.0 |30.6|30.6 | 0.296 | |
|____________|____|____|_____|_________________|________|
| including|10.8|12.6| 1.8 | | 2.89 |
|____________|____|____|_____|_________________|________|
All AT drill-holes in Gold Ridge, showing weighted averages of Au (g/t).
http://www.nwmcorp.ca/news/pdf/120927-map.pdf
Mr. Jos Hantelmann, MAusIMM (CP) is an independent geological consultant
and designated Qualified Person pursuant to National Instrument 43-101
of the Canadian Securities Administrators for this press release and
has reviewed and approved the technical disclosure contained herein.
NWM is an emerging gold producer with two currently defined ore bodies
containing NI 43-101 compliant gold reserves and resources. The Company
is focused on demonstrating profitable operations at the Lluvia de Oro
and La Jojoba gold mines, and on growing reserves and resources through
exploration.
CAUTIONARY STATEMENT ON FORWARD-LOOKING INFORMATION
This news release includes “forward-looking information” as such term is
defined in applicable securities laws. The forward-looking information
includes, without limitation, the success of exploration activities and
other similar statements concerning anticipated future events,
conditions or results that are not historical facts. These statements
reflect management’s current estimates, beliefs, intentions and
expectations; they are not guarantees of future performance. The
Company cautions that all forward looking information is inherently
uncertain and that actual performance may be affected by a number of
material factors, many of which are beyond the Company’s control. Such
factors include, among others, risks and uncertainties relating to
exploration and development; the ability of the Company to obtain
additional financing; the need to comply with environmental and
governmental regulations; political and economic instability and
general civil unrest in Mexico, if any; potential defects in title to
the Company’s properties; fluctuations in currency exchange rates;
fluctuating prices of commodities; operating hazards and risks;
competition; and other risks and uncertainties, including those
described in the Company’s other regulatory filings filed with the
Canadian Securities Administrators and available at www.sedar.com.
Accordingly, actual future events, conditions and results may differ
materially from the estimates, beliefs, intentions and expectations
expressed or implied in the forward-looking information. All statements
are made as of the date of this news release and the Company is under
no obligation to update or alter any forward-looking information.
Neither the 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 of this release.
SOURCE NWM Mining Corporation
