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.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV