This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Infrastructure Materials Corp. Announces Promising Results From Clay Peters Geophysics

RENO, Nev., April 22, 2013 (GLOBE NEWSWIRE) -- Infrastructure Materials Corp. (OTCBB:IFAM) (TSX-V:IFM) (TSX-V:IFM.s) (the "Company") is pleased to announce the completion of the first phase of an extensive geophysical survey program on its Clay Peters Project in Nevada (the "Project"), referred to in prior communications as "Kope Scheelite." The Company's survey program extended to the south a magnetic geophysical survey that was conducted by Zonge International Inc. of Reno, Nevada ("Zonge"), for AngloGold (U.S.A.) Exploration, Inc. in 1999, and offers encouraging evidence of the presence of a high priority anomalous target.

In January 2013, the Company retained Zonge to perform a ground magnetic survey on the Project covering a total area measuring 3,450 meters by 4,500 meters with 150 meter spacing between 18 east-west lines for a total of approximately 62.1 line-km of survey coverage. A broad composite magnetic high (approximately 2km x 1.5km) was identified with amplitudes of 200-350 nano Tesla (nT) above background in the central area of the survey. The depth of the magnetic anomaly is estimated at 300-to-400 meters with two distinct local areas in the south of shallower magnetic anomalies.

Presently, the Company believes that the source of the magnetic response may be one or more magnetite skarns around a Cretaceous–Tertiary granodiorite and feldspar porphyry that is mapped in outcrop on the northern and eastern portions of the Project. Further, the Company also reasons that the anomaly represents a large intrusive when considered in the context of previous surface geology, magnetic surveys and drilling work. Due to the wide line-spacing, this anomaly is currently rather indistinct and requires additional exploration to further delineate its nature. Please refer to the image below entitled, "Ground Magnetic Survey and Conceptual Cross Section" for a visual review of the magnetic structures identified from the magnetic surveys to date as well as overlaying drill hole locations discussed below.

1 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.79 0.10%
FB $101.98 0.07%
GOOG $682.32 -0.12%
TSLA $150.99 0.35%
YHOO $27.04 1.00%


Chart of I:DJI
DOW 15,973.84 +313.66 2.00%
S&P 500 1,864.78 +35.70 1.95%
NASDAQ 4,337.5120 +70.6750 1.66%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs