Infrastructure Materials Corp. Suspends Drilling at Clay Peters Project
RENO, Nev., Oct. 25, 2013 (GLOBE NEWSWIRE) -- Infrastructure Materials Corp.
(the "Company") (OTCBB:IFAM) (TSX-V:IFM) is announcing its decision to suspend
a two-phase 5,000 foot reverse circulation drill program at the Company's Clay
Peters Project in Nevada (the "Project") after the completion of the first
phase for a total of 3,000 feet. The Company designed the drill program to
include two phases, with a short midpoint break to analyze drill results.
After completing this analysis, the Company concluded that the current drill
program should be halted for lack of favorable results. The Project consists
of 263 mineral claims located in Mineral County, Nevada, approximately 11
miles northeast of the town of Mina.
The two-phase drill program was designed to intercept what was believed to be
a copper porphyry system at depth located south of previous drilling efforts
on the Project. The first phase of the drill program included four holes
focusing on recently identified geophysical targets. The Company planned to
use the results of the first phase to determine follow up or offset drilling
targets for the second phase. Four holes (CPR-20 through 23) were drilled with
no significant copper, gold, or silver analytical results. Further, drilling
encountered unexpected geological features that, on a preliminary basis,
explain the geophysical targets explored. The Company believes that by using
the recent results it is possible to better prioritize the numerous targets on
the Project. The Company is currently reviewing all data before resuming the
drill program in the spring, subject to available funds.
John Harrop, P.Geo., FGS of Coast Mountain Geological Ltd., a qualified person
as defined by Canadian National Instrument 43-101 Standards of Disclosure for
Mineral Projects, reviewed and approved the technical disclosures of this
press release on behalf of the Company.
Infrastructure Materials Corp. is a Reno, Nevada based exploration stage
company that is directing its efforts to the exploration and development, if
warranted, of precious metal properties located in Nevada and cement grade
limestone deposits in strategic locations in the United States.
For further information please see our public filings at www.sedar.com and
www.sec.gov/edgar.shtml or contact:
Mason Douglas, President and CEO
or visit our website at
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 press release.
This press release contains technical data concerning drilling results that
are intended for persons who have expertise with respect to the interpretation
of such data.
FORWARD-LOOKING STATEMENTS: This news release contains certain
"forward-looking statements" within the meaning of U.S. securities laws.
Forward-looking statements are frequently characterized by words such as
"plan," "expect," "project," "intend," "believe," "anticipate," "estimate" and
other similar words or statements to the effect that certain events or
conditions "may", "have" or "will" occur. This press release also contains
statements based upon historical records pertaining to our mineral claims that
have not been verified by the Company. The term, "resource" is not a term that
is recognized by SEC guidelines and does not rise to the level of certainty
required by SEC guidelines. Forward-looking statements or references to
historical records are based on the material in our possession, opinions and
estimates of management at the date the statements are made, and are subject
to a variety of risks and uncertainties and other factors that could cause
actual events or results to differ materially from those stated or projected
in this press release. The Company undertakes no obligation to update
forward-looking statements or historical information unless specifically
required by law. The reader is cautioned not to place undue reliance on
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