SALT LAKE CITY, Jan. 09, 2017 (GLOBE NEWSWIRE) -- Inception Mining Inc. is pleased to report the twelfth drill hole in the CMCS drill program (“CMCS-12”), completed at the recently-acquired property adjacent to the Clavo Rico mine site, has encountered gold-bearing oxide content. The property and mine site are located within the town of El Corpus, in the Choluteca department of Honduras.
CMCS-12 was explored to a depth of 50 meters, through which crews drilled to find a heavily oxidized andesitic tuff which hosts a web of iron-, quartz-, and adularia-filled fractures and veins. These fractures and veins are the gold-bearing aspect of the rock. The average grade for the entire hole is 1.55 grams per ton, with the area between meters 6 and 22.5 averaging 2.08 grams per ton. The table below highlights the grade findings resulting from the CMCS-12 exploration. The rock in this section is more oxidized, especially with limonite, and hosts more significant veining than previous drill holes. These fractures and oxides will allow for easier and faster crushing and leaching through our on-site cyanide leach pad.
This hole indicates that Clavo Rico mine has the potential for a sizable extension to its current open pit, located approximately 20 meters due east of CMCS-12.
| Clavo Rico 2016 Assay Details | ||||
| Hole | From (m) | To (m) | Length | Grade (g/t) |
| CMCS-12 | 0 | 50 | 50 | 1.55 |
| Including | 6 | 22.5 | 16.5 | 2.08 |
| Within which | 12 | 22.5 | 10.5 | 2.25 |
| Within which | 16.5 | 19.5 | 3 | 2.54 |
About Inception Mining Inc.
We are a producing minerals resource company engaged in the acquisition, exploration, and development of primarily gold related properties. Our primary target properties are those that have been the subject of historical exploration having significant supporting data.
Forward-Looking Statements
This news release includes certain forward-looking statements or information. All statements other than statements of historical fact included in this release are forward-looking statements that involve various risks and uncertainties. Forward-looking statements in this news release include statements with respect to the potential mineralization and geological merits of the Company properties. There can be no assurance statements will prove to be accurate and actual results and future events could differ materially from anticipated in such statements.
Inception Mining Inc. disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events except as required by applicable securities legislation.