This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Infrastructure Materials Corp. Announces Promising Results From Clay Peters Geophysics

Stocks in this article: IFAM

Mapping and sampling, which has taken place since late January 2013, has noted numerous northeast/southwest fault structures with weak alteration.

The Company has also initiated an orientation induced polarization geophysical survey expected to be completed by the end of April 2013. This survey will build on previous work and provide both a deep and shallow look at the anomaly. The Company's President and CEO, Mason Douglas, speaking about the current geophysical work, stated, "I am very excited about this new discovery and this particular phase of exploration. Results continue to offer evidence for the potential for a large copper-gold system. This next phase of geophysics will be integral to the design of our planned summer drill program that in turn will offer an enhanced look at what we believe are potentially sizeable targets." The summer drilling will include first round exploratory drilling in the southern portion of the Project to test the edge targets as well as the central portion of the magnetic high. Additionally, several holes may be drilled to test mineralized extensions encountered in the 2012 drill program.

To view an enhanced version of this image, please visit: http://orders.newsfilecorp.com/files/1496/4985_imc-enhanced.jpg

During September and October 2012 the Company completed 2,309.8 meters (m) (7,578 ft) of drilling in 19 reverse circulation holes at the Project (see press release dated January 16, 2013). Drilling identified copper and gold mineralization hosted both in the intrusive and in adjacent sediments. In addition to those elements reported in this news release, a complex suite of anomalous elements including antimony, bismuth, cobalt, cadmium, gallium, germanium, molybdenum, indium, selenium, tellurium, tin and tungsten were found to form zones in and surrounding the mineralization. Below is a table of highlights from the fall 2012 drill program:

               
Hole ID From m To m Interval m Cu % Au g/t Other Host
 
CPR2 86.9 161.6 74.7 0.26%     skarn, gossan
incl 138.7 161.6 22.9 0.49%   0.42% Zn  
and 86.9 103.7 16.8 0.34%      
 
CPR8 0.0 35.1 35.1 0.39%     skarn, intrusive
incl 10.7 35.1 24.4 0.53%      
incl 15.2 27.4 12.2 0.91%      
incl 21.3 25.9 4.6 1.64%      
 
CPR9 3.0 9.1 6.1   2.34   jasperoid, gossan
incl 3.0 6.1 3.1     572 ppm antimony (Sb)  
  7.6 19.8 12.2     0.51% Zn  
 
CPR11 7.6 16.7 9.1   2.42 93.6 g/t Ag jasperoid, skarn
incl 9.1 15.2 6.1     0.28% Sb  
 
CPR13 0.0 18.3 18.3   0.40   intrusive
incl 6.1 18.3 12.2   0.49    
             
CPR14 3.0 19.8 16.8   0.55   intrusive
 
CPR17 36.6 54.9 18.3   1.72   gossan, limestone
incl 42.7 54.9 12.2   2.52    
incl 42.7 45.7 3.0   8.92 24.8 g/t Ag  

The Company notes the substantial spacing between holes with significant intersections; CPR2 and CPR8 are approximately 1,000m (3,300 ft) apart with no infill drilling to test copper mineralization. CPR9 is on a northeast line between CPR11 500m to the northeast and CPR17 300m to the southwest also without infill drilling to test gold mineralization. It is not clear that these gold intersections are on the same mineralized structure.

2 of 4

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 18,053.71 +23.50 0.13%
S&P 500 2,088.77 +6.89 0.33%
NASDAQ 4,806.8590 +33.3870 0.70%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs