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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.

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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.

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