VANCOUVER, BRITISH COLUMBIA–(Marketwired – March 31, 2015) – Northair Silver Corp. (TSX VENTURE:INM) (the “Company” or “Northair”) is pleased to announce that it has contracted MPX Geophysics Ltd. (“MPX”) to complete an airborne geophysical program (the “Program”) on the Company’s La Cigarra silver project located in Chihuahua State, Mexico.
“We are excited to begin this geophysical phase of exploration on our project that will assist our team in prioritizing drill targets within and adjacent to our known zones of mineralization,” said Andrea Zaradic, President and CEO of Northair. “We expect the results of the Program to considerably improve our geologic understanding of the project as we prepare for our next phase of exploration drilling.”
The airborne survey (the “Survey”) is scheduled to commence in early April with the flight pattern designed around known mineral orientations and the Company’s interpretations of important structural controls at La Cigarra. The Primary Survey area (see map for details) which totals 262 line-kilometers will be flown then evaluated prior to flying the Secondary, or total survey area. The total proposed area will consist of 1,059 line-kilometers covering an area of approximately 95 square kilometers. The high sensitivity aeromagnetic survey should detect major structures and/or underlying intrusions potentially associated with silver mineralization on the project. The Program will include radiometrics to aid in the identification and distribution of alteration and the survey will also provide important geologic detail to help target more deep seated mineralization. The large, long-lived silver mines of Santa Barbara and San Francisco del Oro are on strike 25 kilometers SSE of La Cigarra and Northair believes that high-grade vein systems, similar to Santa Barbara and San Francisco del Oro, may underlie the stockwork-vein hosted silver deposits at La Cigarra.
Northair expects the Survey to take approximately two weeks with processed and interpreted data likely available in early May. The results from the Program will be combined with results of exploration work already completed on the project with the objective of detecting additional drill targets over the La Cigarra project area. The continuing exploration objective of the Company is to increase the current NI 43-101 resource estimate toward our internal goal of +100Moz silver.
Please click on the following link to view a map of the area being surveyed at the La Cigarra Project: http://www.internationalnorthair.com/i/maps/2015-03-31_LC_Geophysical_Survey.pdf.
Mr. David Ernst, a professional geologist and VP Exploration of Northair is a Qualified Person as defined by NI 43-101. Mr. Ernst has reviewed the technical information in this news release and approves the disclosure herein.
About Northair Silver Corp.
Northair is focused on advancing its flagship La Cigarra silver project located in the state of Chihuahua, Mexico, 26 kilometres from the historic silver mining city of Parral. The 36,000 hectare property boasts nearby power, good road access, gentle topography, established infrastructure and currently hosts a NI 43-101 Resource estimate of 51.47 million ounces of silver in the Measured & Indicated categories grading 86.3 g/t silver and 11.46 million ounces of silver in the Inferred category grading 80 g/t silver. The mineralized system at La Cigarra has been traced over 6.5 kilometres and is defined at surface as a silver soil anomaly and by numerous historic mine workings. The La Cigarra silver deposit is open along strike and at depth and is approximately 25km north, and along strike of Grupo Mexico’s Santa Barbara mine and Minera Frisco’s San Francisco del Oro mine.
ON BEHALF OF THE BOARD,
NORTHAIR SILVER CORP.
Andrea Zaradic, P. Eng., President & CEO
Neither 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 or accuracy of this news release.
Caution Concerning Forward-Looking Statements
This news release may contain forward-looking statements which are statements that are not statements of historical fact, such as statements regarding the mineral resource estimates, results of the sensitivity analysis, anticipated production or results, sales, revenues, costs, or discussions of goals and exploration results, and involve a number of risks and uncertainties that could cause actual results to differ materially from those projected. These risks and uncertainties include, but are not limited to, metal price volatility, volatility of metals production, project development, mineral reserve estimates, future anticipated reserves and cost engineering estimate risks, geological factors and exploration results. See Northair’s filings for a more detailed discussion of factors that may impact expected results.
Cautionary Note Concerning Estimates of Measured, Indicated and Inferred Mineral Resources
This news release uses the terms “Measured and Indicated Resources” and “Inferred Resources”, which have a great amount of uncertainty as to their existence, and great uncertainty as to their economic feasibility. It cannot be assumed that all or any part of a Measured and Indicated and/or Inferred Mineral Resource will ever be upgraded to a higher category. Under Canadian rules, estimates of Inferred Resources may not form the basis of feasibility or other economic studies. Northair advises U.S. investors that while this term is recognized and required by Canadian regulations, the U.S. Securities and Exchange Commission does not recognize it. U.S. investors are cautioned not to assume that part or all of a Measured, Indicated and Inferred resource exists, or is economically or legally minable.
Northair Silver Corp.
President & CEO
604-687-7545 or 1-888-338-2200
Northair Silver Corp.
Manager of Corporate Communications
604-687-7545 or 1-888-338-2200