2009

Exploration Commences for Moly & Rare Earths on Desrosiers Property -- Drilling Begins (24-Nov-2009)

November, 24 2009 TSX - ISM Frankfurt- OI8

 

Toronto, Ontario -- Inspiration Mining Corporation ("Inspiration" or the "Corporation") is pleased to provide an update with respect to its exploration program on the Corporation's 100% owned property located at Desrosiers Township.

Historical work by Jonsmith Mining in 1960 demonstrated molybdenum mineralization with grades varying from 0.03% to more than 10%, plus significant bismuth. Bulk sampling returned non NI 43-101 compliant results of 165 tons @ 2.255 MoS2, and 50 tons @1% MoS2. More recent sampling in 1999 revealed associated bismuth, silver, lead mineralization and low levels of copper, nickel and zinc.  Regional lake bottom sediment sampling by the Ontario Geological Survey in 2005 revealed major molybdenum, lithium, niobium and rare earth element anomalies in the region.

Recent exploration efforts concentrated on the main showings on the southeastern part of the property .  Follow-up soil sampling, ground EM and magnetic survying, and geological mapping west of Alike Lake have revealed that molybdenum mineralization is located at the contact between mafic metavolcanic and metasedimentary rocks with granitoid rocks.  Various pegmatitic veins intrude the main northwest-trending mineralized shear zone, 20 to 50 meters wide and at least 800 meters long, carrying molybdenite, minor chalcopyrite, and pyrite.  Parallel zones of chalcopyrite and pyrite mineralization are also found in the host metasedimentary rock sequences.

To determine the potential for a broad suite of additional elements, including the rare earth group, a suite of 18 selected pegmatite samples from several mineralized zones have been sent for assaying for molybdenum, bismuth, silver, tungsten, lithium, beryllium, tantalum, rhenium, base metals, and rare earth elements. 

Compilation of both a four square kilometer soil survey program, and a ground EM and magnetic survey over the entire property is in progress.  Detailed mapping of other molybdenite zones on the west and east side of Alike Lake, follow-up soil sampling, and ground radiometric surveying is also in progress.

A drill program of 2000 meters is being initiated to evaluate the main molybdenum mineralized zones. Drilling of other refined targets will follow.

Andre Ciesielski, DSc., P. Geol., the Qualified Person in charge of the Property prepared the technical data in this release.

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Update On The 43-101 Resource Estimate Report Amendment To Warrant Exercise Price (17-Nov-2009)

November, 17 2009 TSX - ISM Frankfurt- OI8

 

Toronto, Ontario - Inspiration Mining Corporation ("Inspiration" or the "Corporation") is pleased to provide an update with respect to its 43-101 report being prepared by Micon International.

Further to its press release of May 16, 2008, the Corporation commissioned Micon International of Toronto, Ontario, Canada to prepare a mineral resource estimate and technical report on its Langmuir property. Details of the work undertaken by Micon International can be found in the Corporation's press release of May 16, 2008.

It is anticipated that the report will be completed by Micon by mid-December 2009. The delay in completing the report was a result of the Corporation undertaking additional fieldwork to ascertain the strike and depth extension of the mineralization. In addition, the updated 43-101 report, which was prepared by Kian Jensen, was delayed which had an impact on the ability of Micon to complete its report.

Mr. Randy Miller, the President and Chief Executive Officer of the Corporation, stated "We are excited that this process is nearing its completion. We believe that the report will provide the impetus for the Corporation to bring the Langmuir property to the next level."

In addition, the Corporation is pleased to announce that it has received approval from the Toronto Stock Exchange to amend the exercise price of 2,305,625 outstanding common share purchase warrants (the "Warrants") of the Corporation, which were issued in connection with the Corporation's May 2007 private placement financing. Each Warrant, as amended, entitles the holder thereof to purchase one common share of the Corporation at any time until the close of business on May 8, 2010 at an exercise price of $3.50 per common share. The Warrants will be amended, effective December 2, 2009, to amend the exercise price of such warrants to $1.50. All other provisions of the Warrants will remain the same. There are no insiders of the Corporation who hold Warrants.

The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

This update contains "forward looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation. Generally, these forward looking statements can be identified by the use of forward looking terminology such as "plans", "anticipated", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Inspiration is subject to significant risks and uncertainties which may cause the actual results, performance or achievements to be materially different from any future results, performance, or achievements expressed or implied by the forward looking statements contained in this release. Inspiration cannot assure investors that actual results will be consistent with these forward looking statements and Inspiration assumes no obligation to update or revise the forward looking statements contained in this release to reflect actual events or new circumstances.

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Inspiration Completes Its Jasper Property Spin-Off (04-Nov-2009)

November, 04 2009 TSX - ISM Frankfurt- OI8

 

Toronto, Ontario - Inspiration Mining Corporation ("Inspiration" or the "Corporation") is pleased to announce that further to its various press releases, Nitinat Minerals Corporation ("Nitinat"), an arm's length third party to the Corporation, has completed its initial public offering and will commence trading through the facilities of the TSX Venture Exchange on Monday November 9, 2009 under the symbol "NZZ".

Pursuant to a purchase agreement dated December 1, 2007 but effective as at July 30, 2007, the Corporation received an aggregate of 13,367,904common shares (the "Shares") in the capital of Nitinat upon the automatic exercise of the 13,367,904 special warrants previously issued to the Corporation. The Shares are subject to a twelve (12) month hold period. Upon the expiration of the hold period, the Corporation will evaluate all options available to it with respect to the Shares including the proposal, which is subject to the prior approval of the Toronto Stock Exchange (the "TSX"), to distribute up to 100% of the Shares on a pro rata basis to all of the Corporation's shareholders as at July 30, 2007. There can be no assurance that the Shares will be distributed to the Corporation's shareholders.

Management believes that, on the closing of its initial public offering, Nitinat has the necessary funds to develop the Jasper Property and that the Corporation will be rewarded as Nitinat unlocks the true value of the Jasper Property.

The Jasper Property claims are located in the Victoria Mining Division, southwestern Vancouver Island, British Columbia. The property is approximately 80 kilometres northwest of Victoria. The southern portion of the claims overlie much of the Caycuse River and its tributaries Four Mile Creek and Seven Mile Creek, extend northwards over the height of land to the tributaries of Jasper Creek, and westwards to a no staking reserve along the eastern shore of the Nitinat River. The Jasper Property consists of the Jas 3 legacy mineral claim and nine cell mineral claims that comprise ten contiguous claims which total 6,615 hectares. The property is currently 100% owned by Inspiration.

The Jasper Property does not constitute all or substantially all of the assets of the Corporation and as such shareholder approval is not required for the divesture.

Forward Looking Statements

This news release contains "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "anticipated", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Inspiration is subject to significant risks and uncertainties which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward looking statements contained in this release. Inspiration cannot assure investors that actual results will be consistent with these forward looking statements and Inspiration assumes no obligation to update or revise the forward looking statements contained in this release to reflect actual events or new circumstances.

The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

 

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Inspiration Retains Clarus Securities as Financial Advisor (15-Oct-2009)

October, 15 2009 TSX - ISM Frankfurt- OI8

 

Toronto, Ontario - Inspiration Mining Corporation (the "Company") announces that it has retained Clarus Securities Inc. ("Clarus") to assist in a review of the Companys strategic alternatives to enhance value for the shareholders. Together with Clarus, the Company is reviewing all options that will enable it to unlock value.

The Company is of the opinion that the current share price does not accurately reflect the true value of the Companys assets and accordingly is reviewing all of its options should an opportunistic party decide to take advantage of the low share price and launch a take over bid. One option being implemented is the adoption of a shareholders' rights plan ("SRP") which will protect the interests of the Companys shareholders. Any adoption of a SRP will require shareholder and TSX approval.

Mr. Randy Miller, the President of the Company, states "We are excited about having Clarus as our partner as we look for opportunities to unlock the true value of the Company's assets. The current market cap is not indicative of the true intrinsic value of the Company and with the assistance of Clarus; we believe that we can unlock the real value of the Company's assets."

 

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Technical report (NI 43-101) (06-Oct-2009)

October, 06 2009 TSX - ISM Frankfurt- OI8

 

Technical Report (NI 43-101). Click here to view the report (5636 Kb).

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Inspiration Continues Work on its Desrosiers Property (18-Sep-2009)

September, 18 2009 TSX - ISM Frankfurt- OI8

 

Toronto, Ontario - Inspiration Mining Corporation (the "Company") continues its exploration program on the Desrosiers Property (the "Property") which is prospective for molybdenum plus multiple other elements including, tantalum, tungsten, rhenium, lithium, bismuth, silver and rare earth elements. Geophysical surveying, geochemical sampling, drilling, and bulk sampling are required for the evaluation of a complex system of pegmatite, granite, and syenite hosted minerals enveloped by surrounding greenstone volcanic rocks, all of Precambrian age. This program is in progress, together with a baseline study to be commenced this season in preparation for additional bulk sampling in the future to compliment and verify historical sampling that has been conducted on the property over several campaigns of exploration.

The Property consists of 42 claim units acquired by the Company together with an additional 219 claim units staked to cover additional potential within the favourable volcanic belts which surround the intrusiveassociated complex mineralization known from 35 showings.

Surface trenching and sampling during historical work has demonstrated molybdenum values from 0.03 to 10.64% across widths from 2 cm. to 2 meters. Historical bulk sampling from the property is reported by D. Bending in his NI 43-101 Report dated 2008 to have returned 1% MoS2 from a 50 ton sample and 2.25% MoS2 from a 165 ton bulk sample. Previous work including drilling to approximately 200 feet suggests a geological exploration target of an open-pittable tonnage of 100,000 tons of molybdenum-bearing mineralization. Bending recommended an exploration program of $232,000 in two phases to evaluate potential for molybdenum, rhenium, silver, tungsten, lithium, beryllium, tantalum, and rare earth elements, as well as the potential for copper, zinc, and nickel within the granite-pegmatite and volcanic greenstone belt.

The Property lies 150 km southwest of the City of Timmins in Desrosiers Township, Porcupine Mining Division, District of Sudbury, Ontario. The Property is accessible by gravel and bush roads from paved Highway 144. Local access can be attained with tracked vehicles or by float plane to Alike Lake.

The Company looks to continue work on this project throughout the current field season, with drilling to begin by as quickly as possible. Results will be released when assays are available.

The Qualified Person in charge of the Property and the person who prepared the technical data in this release is Stewart Jackson, Ph D, P. Geol.

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Election of New Directors (07-Aug-2009)

August, 07 2009 TSX - ISM Frankfurt- OI8

 

Toronto, Ontario Inspiration Mining Corporation (the "Corporation") is pleased to announce that shareholders representing over 55% of the issued and outstanding capital submitted proxies for voting at the Corporation's Annual General Meeting held on August 6, 2009.

At the meeting, shareholders reappointed the Corporation's auditors for another term as well as elected Messieurs Miller, Brugh and Davis as directors for another year. In addition, the shareholders elected the following new directors:

Ian Stewart - Mr. Stewart co-founded and was the Managing Director of Stratacon Inc., the largest submetering company in Canada in 1996 and finalized a sale of the company to the Consumers Water Heater Income Fund in August 2008.

Stewart Jackson - Mr. Jackson has been the President and Chief Executive Officer and a director of Acero- Martin Exploration Inc. since April 2008. Mr. Jackson holds a Professional Geologist designation as well as a Ph.D. from the University of Alberta. Prior to which he was a self-employed business consultant and an officer and director of a number of publicly listed companies in Canada and Europe.

The Corporation would like to thank those shareholders for sending in their proxies and participating in the meeting.

The Corporation is a public junior mining company exploring for nickel deposits on its Langmuir property near Timmins, Ontario, as well as gold-copper on the Barton Syndicate Dry Fork property in Utah.

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LANGMUIR #1 PROJECT UPDATE (12-May-2009)

May, 12 2009 TSX - ISM Frankfurt- OI8

 

Toronto, Ontario Inspiration Mining Corporation (the Corporation) would like to provide an update on the status of its Langmuir #1 property (the "Property"). The Corporation engaged Blue Heron Solutions for Environmental Management Inc. ("Blue Heron") to initiate the necessary environmental permitting initiatives in order for the Corporation to obtain the necessary approvals for the dewatering of the Property. The dewatering process is a necessary first step in the Corporation's preparation of advanced exploration activities on the Property.

 In order to obtain the necessary approvals, the Corporation has:

 (i)         initiated a baseline collection program to ensure that the dewatering process will cause any unnecessary damage to the surrounding area's water flow;

 (ii)        identified the required ministerial, environmental and local approvals to commence the dewatering process; and

 (iii)       completed conceptual engineering related to the dewatering process.

 These activities are required in order for the Corporation to submit the necessary permit applications for the dewatering of the Langmuir #1 Project. In addition, the Corporation is currently identifying all interested parties in order to commence the necessary consultations with the appropriate stakeholders and aboriginal parties in order to ensure that all future exploration activities on the Langmuir #1 Project is done in an efficient and responsible manner.

 The dewatering process and advances exploration activities were reviewed by third party independent consultants and, based on their findings, it is predicted that the dewatering process does not trigger any environmental assessment under the Canadian Environmental Assessment Act.

 Randy Miller, the President of the Corporation, states "The work done on the Langmuir #1 Property by Blue Heron (www.blueheronenv.com) has and continues to assist the Corporation in its goal of dewatering Langmuir #1 and continuing its exploration activities underground. The dewatering process signifies a significant step in the advancement of Langmuir #1 and the identification of the mineral deposit on the property."

 About the Corporation

 The Corporation is a public junior mining company exploring for nickel deposits on its Langmuir property near Timmins, Ontario, as well as gold-copper on the Barton Syndicate Dry Fork property in Utah.

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INSPIRATION FILES REVISED AIF (09-April-2009)

April, 09 2009 TSX - ISM Frankfurt- OI8

 

Toronto, Ontario - Inspiration Mining Corporation (the Corporation) announces that it has filed a revised annual information form (which can be access through the Corporation's profile on the SEDAR website (www.sedar.com)). The annual information form ("AIF") was revised to provided investors with the most current information on the Corporation and its drilling program on the Langmuir Property. The Corporation encourages all investors to review the revised AIF.

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INSPIRATION INTERSECTS 0.445% NI OVER 119.69M OR 392.68FT CONTAINING 1.462% NI OVER 5.14M OR 16.86FT AND 1.389% NI OVER 3.21M OR 10.53 FT (TRUE WIDTH) (02-March-2009)

March, 02 2009 TSX - ISM Frankfurt- OI8

 

Toronto, Ontario - Inspiration Mining Corporation (the "Corporation") is pleased to announce the results of the continuation of their diamond drilling program on its Langmuir Project, located in Langmuir Township south of Timmins, Ontario. The Langmuir Property consists of 69 unpatented contiguous mining claim units covering approximately 1090 hectares in the north-central portion of Langmuir Township, Porcupine Mining Division, and District of Cochrane, Ontario. The property is approximately 25 km southeast of Timmins, Ontario, and hosts the past producing Langmuir No.1 Mine, and majority of the past producing Langmuir No. 2 Mine.

Inspiration is continuing the drilling at the Langmuir Project Langmuir No.2 Mine North Zone.  The detail fill-in drill program is designed to complete the definition of the nickel bearing mineralization.  Several drill holes were terminated in nickel bearing mineralization and these drill holes have been extended.

The following table indicates the drill information for the North Zone drill holes:

 

Drill Hole

Grid Northing (metres)

Grid Easting (metres)

Dip

Azimuth (Geodetic)

Section Northing (metres)

Section Easting (metres)

Length (m)

LN08-141

3135.94

2018.52

-65.62

298.15

3725.06

180.12

326.40

LN08-142

3135.82

2018.63

-69.42

304.53

3725.02

180.28

385.71

LN08-143

3135.71

2018.77

-74.20

313.53

3724.99

180.45

448.94

LN08-144

3025.17

2007.08

-65.80

300.10

3623.42

225.60

407.87

LN08-145

3025.02

2007.35

-72.74

300.32

3623.42

225.91

461.38

LN08-146

2996.07

2011.86

-50.89

300.18

3600.60

244.28

291.49

LN08-147

2995.87

2012.19

-59.19

299.48

3600.60

244.67

332.09

LN08-148

drill hole planned but not drilled

Drill hole LN08-141 to LN08-143 were completed from the same drill setup.  It appears that holes LN08-141 and LN08-142 intersected the higher-grade nickel mineralization of the North Shoot approximately 50 metres down dip from previously released drill hole LN06-57.  Drill hole LN08-143 deviated northwards and intersected the lower grade nickel halo mineralization below previously released LN07-101.

Drill holes LN08-144 and LN08-145 were drilled approximately 41 metres and 87 metres, respectively, below previously released drill hole LN08-114.  It appears that LN08-144 intersected a portion, 0.953 % Ni over 4.38 metres or 14.37 feet (true widths) of the high grade nickel mineralization of the North Shoot.

Drill holes LN08-146 and LN08-147 were completed approximately 23 meters south and 19 metres east of LN08-144 and LN08-145.  These drill holes were below previously released drill hole LN08-110 and up dip from previously released drill hole LN08-115.  LN08-146 intersected a portion of the nickel halo mineralization while LN08-147 contained only anomalous nickel values.

Drill Hole LN08-148 was planned at the same setup but was not drilled.

The following revised assay results for drill holes LN08-141 to LN08-148, inclusively at the Langmuir No.2 Mine North Zone have been received, compiled and condensed to the following:

Drill Hole

From (m)

To (m)

Core Length (m)

True Width (m)

Core Length (ft)

True Width   (ft)

Weighted Average Ni (%)

 

LN08-141

 

136.00

322.20

186.20

119.69

610.89

392.68

0.445

or

242.00

322.20

80.20

51.55

263.12

169.13

0.649

 and contains

 

242.00

276.00

34.00

21.85

111.55

71.69

0.886

with

242.00

250.00

8.00

5.14

26.25

16.86

1.462

 

250.00

254.00

4.00

2.57

13.12

8.43

0.945

 

258.00

263.00

5.00

3.21

16.40

10.53

1.389

 

263.00

268.00

5.00

3.21

16.40

10.53

0.602

       and

 

285.00

292.55

7.55

4.85

24.77

15.91

0.535

       and

 

295.18

306.17

10.99

7.06

36.06

23.16

0.698

       and

 

311.21

319.08

7.87

5.06

25.82

16.60

0.818

 

LN08-142

 

144.00

299.49

155.49

93.58

510.14

307.02

0.321

 and contains

 

239.20

246.00

6.80

4.09

22.31

13.42

0.473

 

260.00

282.40

22.40

13.48

73.49

44.23

0.613

with

267.80

272.49

4.69

2.82

15.39

9.25

1.609

or

269.50

272.49

2.99

1.80

9.81

5.91

2.051

 

270.20

271.68

1.48

0.89

4.86

2.92

2.442

       and

 

312.00

334.00

22.00

13.24

72.18

43.44

0.477

with

323.00

330.00

7.00

4.21

22.97

13.81

0.861

 

LN08-143

 

195.00

345.00

150.00

77.26

492.13

253.48

0.291

 and contains

 

196.00

211.00

15.00

7.73

49.21

25.36

0.308

 

279.00

292.00

13.00

7.21

42.65

23.65

0.373

 

299.00

312.00

13.00

6.70

42.65

21.98

0.408

 

331.00

342.00

11.00

5.67

36.09

18.60

0.410

 

LN08-144

 

280.00

321.67

41.67

26.78

136.71

87.86

0.359

 and contains

 

304.32

311.13

6.81

4.38

22.34

14.37

0.953

or

305.15

310.00

4.85

3.12

15.91

10.24

1.009

 

Drill Hole

From (m)

To (m)

Core Length (m)

True Width (m)

Core Length (ft)

True Width   (ft)

Weighted Average Ni (%)

 

LN08-145

 

300.30

379.00

   78.70

   45.14

  258.20

  148.10

   0.318

 and contains

 

308.00

323.00

15.00

8.60

49.21

28.22

0.419

 

352.00

358.00

6.00

3.44

19.69

11.29

0.515

with

352.00

353.00

1.00

0.57

3.28

1.87

    1.160

 

370.00

379.00

9.00

5.16

29.53

16.93

0.457

       and

 

386.70

391.65

4.95

2.84

16.24

9.32

0.334

 

LN08-146

 

189.00

194.00

5.00

4.15

16.40

13.62

0.312

       and

 

211.00

222.27

11.27

9.34

36.98

30.64

0.236

 

LN08-147

anomalous values

 

LN08-148

drill hole planned but not drilled

 

The nickel bearing sulphide mineralization, with estimations ranging from 1% to 20% fine-grained disseminatations up to massive 100% sulphides, is contained within serpentenized komatiitic ultramaftic extrusive flows with occasional spinifex texture.

The assaying technique used is the industry standard for base metal assaying, which uses nitric and hydrochloric acids that extracts nickel only from sulphide mineralization and not from nickel silicate minerals.

The assaying of split core samples was conducted by Swastika Laboratories, and included the insertion of blanks and standards. The Qualified Person in charge of the Langmuir Project and the person who prepared the technical data in this release is Kian Jensen, B.Sc., P.Geo. (On), who is an arm's length party retained by the Company to carry out its exploration program on the Langmuir Project.

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INSPIRATION INTERSECTS 0.313% NI OVER 48.88M OR 160.37FT CONTAINING 1.000% NI OVER 1.23M OR 4.04FT (TRUE WIDTH) (27-Feb-2009)

February, 27 2009 TSX - ISM Frankfurt- OI8

 

Toronto, Ontario - Inspiration Mining Corporation (the Corporation) is pleased to announce the results of the continuation of their diamond drilling program on its Langmuir Project, located in Langmuir Township south of Timmins, Ontario. The Langmuir Property consists of 69 unpatented contiguous mining claim units covering approximately 1090 hectares in the north-central portion of Langmuir Township, Porcupine Mining Division, and District of Cochrane, Ontario. The property is approximately 25 km southeast of Timmins, Ontario, and hosts the past producing Langmuir No.1 Mine, and majority of the past producing Langmuir No. 2 Mine.

Inspiration is continuing the drilling at the Langmuir Project Langmuir No.2 Mine North Zone.  The detail fill-in drill program is designed to complete the definition of the nickel bearing mineralization.  Several drill holes were terminated in nickel bearing mineralization and these drill holes have been extended.

The following table indicates the drill information for the North Zone drill holes:

 

Drill Hole

Grid Northing (metres)

Grid Easting (metres)

Dip

Azimuth (Geodetic)

Section Northing (metres)

Section Easting (metres)

Length (m)

LN08-136

3081.83

2006.08

-70.01

299.53

3671.98

196.40

413.47

LN08-137

3082.73

1958.46

-55.85

299.03

3648.96

154.71

229.29

LN08-138

3082.57

1958.70

-61.17

298.32

3648.94

155.00

260.39

LN08-139

3055.72

2004.20

-54.37

300.57

3648.43

207.83

287.35

LN08-140

3055.61

2004.36

-61.89

300.38

3648.42

208.02

310.46

 

 

Drill hole LN08-136 was completed on Section 3675 North and below previously released drill holes LN08-133 to LN08-135.

Drill holes LN08-137 and LN08-138 were drilled approximately 41 meters west and 23 meters south of LN08-136 and LN08-139 and LN08-140 were drilled approximately 53 meters east of LN08-137.  These drill holes were drilled down dip from previously released drill hole LN06-43 and up dip from previously released drill holes LN08-107, which contained 1.042% Ni over 9.95 meters or 32.64 feet (true thickness) from 282.40m to 296.00m.

The following revised assay results for drill holes LN08-136 to LN08-140, inclusively at the Langmuir No.2 Mine North Zone have been received, compiled and condensed to the following:

 

 

Drill Hole

From (m)

To (m)

Core Length (m)

True Width (m)

Core Length (ft)

True Width   (ft)

Weighted Average Ni (%)

 

 

LN08-136

 

194.06

241.70

47.64

29.33

156.30

96.23

0.243

       and

 

251.00

330.40

79.40

48.88

260.50

160.37

0.313

contains

293.00

295.00

2.00

1.23

6.56

4.04

1.000

 

301.00

304.00

3.00

1.85

9.84

6.07

0.393

 

320.00

330.40

10.40

6.40

34.12

21.00

0.530

 

321.00

325.00

4.00

2.46

13.12

8.07

0.635

 

326.00

328.72

2.72

1.67

8.92

5.48

0.610

       and

 

334.55

360.42

25.87

15.93

84.88

52.26

0.432

and contains

344.00

348.00

4.00

2.46

13.12

8.07

0.774

or

345.00

347.00

2.00

1.23

6.56

4.04

1.023

and

352.12

360.42

8.30

5.11

27.23

16.77

0.604

with

357.50

360.42

2.92

1.80

9.58

5.91

0.833

       and

 

367.30

377.00

9.70

5.97

31.82

19.59

0.523

or

371.30

377.00

5.70

3.51

18.70

11.52

0.744

or

372.10

374.00

1.90

1.17

6.23

3.84

1.052

 

 

LN08-137

 

117.40

130.70

13.30

10.48

43.64

34.38

0.246

       and

 

148.13

149.84

1.71

1.35

5.61

4.43

1.271

or

148.13

149.32

1.19

0.94

3.90

3.08

1.710

 

 

LN08-138

 

142.00

163.11

21.11

15.44

69.26

50.66

0.264

 

232.70

234.50

1.80

1.32

5.91

4.33

0.255

 

 

LN08-139

 

170.50

186.50

16.00

12.78

52.49

41.93

0.269

       and

 

216.10

223.00

6.90

5.51

22.64

18.08

0.201

 

 

LN08-140

 

172.79

205.40

32.61

24.23

106.99

79.49

0.307

or

184.00

193.00

9.00

6.69

29.53

21.95

0.373

       and

 

220.45

236.70

16.25

12.08

53.31

39.63

0.352

       and

 

243.00

266.17

23.17

17.22

76.02

56.50

0.297

 

The nickel bearing sulphide mineralization, with estimations ranging from 1% to 20% fine-grained disseminatations up to massive 100% sulphides, is contained within serpentenized komatiitic ultramaftic extrusive flows with occasional spinifex texture.

The assaying technique used is the industry standard for base metal assaying, which uses nitric and hydrochloric acids that extracts nickel only from sulphide mineralization and not from nickel silicate minerals.

The assaying of split core samples was conducted by Swastika Laboratories, and included the insertion of

blanks and standards. The Qualified Person in charge of the Langmuir Project and the person who prepared the

technical data in this release is Kian Jensen, B.Sc., P.Geo. (On), who is an arm's length party retained by the

Company to carry out its exploration program on the Langmuir Project.

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Drill Results (10-Feb-2009)

February, 10 2009 TSX - ISM Frankfurt- OI8

 

Toronto, Ontario - Inspiration Mining Corporation (the “Corporation”) is pleased to announce the results of the continuation of their diamond drilling program on its Langmuir Project, located in Langmuir Township south of Timmins, Ontario. The Langmuir Property consists of 69 unpatented contiguous mining claim units covering approximately 1090 hectares in the north-central portion of Langmuir Township, Porcupine Mining Division, and District of Cochrane, Ontario. The property is approximately 25 km southeast of Timmins, Ontario, and hosts the past producing Langmuir No.1 Mine, and majority of the past producing Langmuir No. 2 Mine.

Inspiration is continuing the drilling at the Langmuir Project – Langmuir No.2 Mine – North Zone. The detail fill-in drill program is designed to complete the definition of the nickel bearing mineralization. Several drill holes were terminated in nickel bearing mineralization and these drill holes have been extended.

The following table indicates the drill information for the North Zone drill holes:

 

 

Drill Hole

Grid Northing (metres)

Grid Easting (metres)

Dip

Azimuth (Geodetic)

Section Northing (metres)

Section Easting (metres)

Length (m)

LN08-131

3099.24

1976.50

-50.63

298.85

3672.27

162.08

199.47

LN08-132

3099.04

1976.79

-58.73

298.32

3672.24

162.43

261.75

LN08-133

3082.06

2005.66

-56.80

299.78

3671.97

195.92

323.25

LN08-134

3082.01

2005.74

-60.35

300.10

3671.97

196.02

340.36

LN08-135

3081.94

2005.94

-65.62

297.82

3672.00

196.22

434.67

 

 

Drill holes LN08-131 to LN08-135, respectively, were completed on Section 3675 North. Drill hole LN08-131 is approximately 13.65m down-dip from previously released drill hole LN06-60. The series of drill holes were designed to follow up the down dip extension of the wide nickel mineralization and to locate the upper portion of the high-grade nickel mineralization intersected in previously released drill hole LN08-108. Drill hole LN08-135 is approximately 79.7 metres up-dip from drill hole LN08-108.

Drill hole LN08-108 deviated northwards onto Section 3675 North and is located approximately 243 metres down dip from previously released drill hole LN06-60. The nickel mineralization averaged 0.917% Ni over a true width of 17.75 m or 58.23 feet and is approximately 310 metres to 335 metres vertically below surface.

The following revised assay results for drill holes LN08-131 to LN08-135, inclusively at the Langmuir No.2 Mine – North Zone have been received, compiled and condensed to the following:

 

 

Drill Hole

From (m)

To (m)

Core Length (m)

True Width (m)

Core Length (ft)

True Width (ft)

Weighted Average Ni (%)

 

 

 

LN08-131

 

88.00

180.53

92.53

77.60

303.58

254.59

0.268

and contains

 

90.00

110.00

20.00

16.77

65.62

55.02

0.324

 

153.00

161.00

8.00

6.78

26.25

22.24

0.306

 

168.84

170.79

1.95

1.65

6.40

5.41

0.644

 

176.69

180.53

3.84

3.26

12.60

10.70

0.409

 

 

 

LN08-132

 

104.00

185.60

81.60

62.51

267.72

205.09

0.350

and contains

 

172.00

178.80

6.80

5.28

22.31

17.32

0.581

with

173.00

174.00

1.00

0.78

3.28

2.56

1.090

 

182.90

185.60

2.70

2.10

8.86

6.89

0.476

and

 

194.40

195.40

1.00

0.78

3.28

2.56

0.454

 

207.00

207.70

0.70

0.54

2.30

1.77

0.545

 

209.50

210.40

0.90

0.70

2.95

2.30

0.620

 

 

 

LN08-133

 

138.00

276.55

138.55

107.67

454.56

353.25

0.333

and contains

 

163.00

165.00

2.00

1.55

6.56

5.09

0.532

 

179.00

185.96

6.96

5.41

22.83

17.75

0.466

 

204.00

217.00

13.00

10.10

42.65

33.14

0.921

with

205.00

210.00

5.00

3.94

16.40

12.93

1.147

and

213.00

215.00

2.00

1.55

6.56

5.09

1.043

 

248.84

253.50

4.66

3.67

15.29

12.04

0.767

with

248.84

249.44

0.60

0.47

1.97

1.54

1.505

and

252.50

253.50

1.00

0.79

3.28

2.59

1.130

 

 

 

LN08-134

 

162.00

263.05

101.05

73.90

331.53

242.45

0.398

and contains

 

198.00

212.00

14.00

10.24

45.93

33.60

0.895

with

204.00

209.25

5.25

3.84

17.22

12.60

1.671

or

205.95

208.25

2.30

1.68

7.55

5.51

2.384

 

217.00

230.00

13.00

9.51

42.65

31.20

0.507

with

217.00

218.00

1.00

0.74

3.28

2.43

0.910

and

222.00

225.00

3.00

2.19

9.84

7.19

0.813

 

234.00

244.00

10.00

7.31

32.81

23.98

0.449

 

 

 

 

 

Drill Hole

From (m)

To (m)

Core Length (m)

True Width (m)

Core Length (ft)

True Width (ft)

Weighted Average Ni (%)

 

 

 

LN08-135

 

178.00

202.10

24.10

16.74

79.07

54.92

0.243

and

 

221.00

222.00

1.00

0.69

3.28

2.26

0.610

and

 

226.17

299.73

73.56

51.10

241.34

167.65

0.490

or

256.00

299.73

43.73

30.38

143.47

99.67

0.660

with

277.00

288.68

11.68

8.11

38.32

26.61

1.104

and

290.50

299.73

9.23

6.41

30.28

21.03

0.936

or

291.50

296.50

5.00

3.47

16.40

11.38

1.080

and

 

314.40

318.40

4.00

2.83

13.12

9.28

0.578

 

 

The nickel bearing sulphide mineralization, with estimations ranging from 1% to 20% fine-grained disseminatations up to massive 100% sulphides, is contained within serpentenized komatiitic ultramaftic extrusive flows with occasional spinifex texture.

The assaying technique used is the industry standard for base metal assaying, which uses nitric and hydrochloric acids that extracts nickel only from sulphide mineralization and not from nickel silicate minerals.

The assaying of split core samples was conducted by Swastika Laboratories, and included the insertion of blanks and standards. The Qualified Person in charge of the Langmuir Project and the person who prepared the technical data in this release is Kian Jensen, B.Sc., P.Geo. (On), who is an arm's length party retained by the Company to carry out its exploration program on the Langmuir Project.

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INSPIRATION INTERSECTS 0.465% NI OVER 89.21M OR 292.68FT CONTAINING 1.112% NI OVER 7.47M OR 24.51FT (TRUE WIDTH) (21-Jun-2009)

January, 21 2009 TSX - ISM Frankfurt- OI8

 

Toronto, Ontario - Inspiration Mining Corporation (the “Corporation”) is pleased to announce the results of the continuation of their diamond drilling program on its Langmuir Project, located in Langmuir Township south of Timmins, Ontario. The Langmuir Property consists of 69 unpatented contiguous mining claim units covering approximately 1090 hectares in the north-central portion of Langmuir Township, Porcupine Mining Division, District of Cochrane, Ontario. The property is approximately 25 km southeast of Timmins, Ontario, and hosts the past producing Langmuir No.1 Mine, and majority of the past producing Langmuir No. 2 Mine.

Inspiration is continuing the drilling at the Langmuir Project – Langmuir No.2 Mine – North Zone.  The detail fill-in drill program is designed to complete the definition of the nickel bearing mineralization.  Several drill holes were terminated in nickel bearing mineralization and these drill holes have been extended.

The following table indicates the drill information for the North Zone drill holes:

 

Drill Hole

Grid Northing (metres)

Grid Easting (metres)

Dip

Azimuth (Geodetic)

Section Northing (metres)

Section Easting (metres)

Length (m)

LN08-127

3106.87

2018.15

-55.11

304.05

3699.71

194.33

256.71

LN08-128

3106.98

2018.18

-59.30

297.90

3699.82

194.31

277.67

LN08-129

3106.86

2018.31

-64.97

299.48

3699.78

194.48

377.46

LN08-130

3106.76

2018.47

-69.48

303.00

3699.77

194.67

454.69

Drill holes LN08-127 to LN08-130, respectively, were completed on Section 3700 North and below previously released drill hole LN05-2 to follow up the down dip extension of higher grade nickel mineralization.  The intersections range from 113.61m to 186.69m in drill hole LN08-127 to 252.21m to 294.13m in drill hole LN08-130 vertically below surface.  Felsic dykes terminated the bottom of the nickel mineralization in drill hole LN08-127.

The above drill holes continue to confirm the presence of a higher-grade nickel bearing mineralization within the northern portion of the Langmuir No.2 North Zone.

The following revised assay results for drill holes LN08-127 to LN08-130, inclusively at the Langmuir No.2 Mine – North Zone have been received, compiled and condensed to the following:

 

Drill Hole

From (m)

To (m)

Core Length (m)

True Width (m)

Core Length (ft)

True Width   (ft)

Weighted Average Ni (%)

 

LN08-127

 

139.92

237.25

97.33

78.74

319.32

258.33

0.390

or

162.57

235.30

72.73

58.84

238.62

193.04

0.431

 and contains

 

186.47

190.50

4.03

3.22

13.22

10.56

0.932

 

198.50

208.30

9.80

7.93

32.15

26.02

0.504

 

213.75

219.34

5.59

4.58

18.34

15.03

0.509

 

223.76

227.00

 

LN08-128

 

143.00

261.20

118.20

89.21

387.80

292.68

0.465

         or

 

168.00

252.95

84.95

64.11

278.71

210.33

0.545

 and contains

 

184.30

203.10

18.80

14.19

61.68

46.56

0.915

 

184.30

185.82

1.52

1.15

4.99

3.77

1.188

 

187.50

189.10

1.60

1.21

5.25

3.97

1.306

 

193.20

203.10

9.90

7.47

32.48

24.51

1.112

 

213.60

216.57

2.97

2.24

9.74

7.35

0.576

 

234.60

252.95

18.35

14.06

60.20

46.13

0.700

or

244.20

252.95

8.75

6.70

28.71

21.98

0.926

       and

 

267.20

276.05

8.85

6.68

29.04

21.92

0.268

or

271.52

276.05

4.53

3.43

14.86

11.25

0.319

 

LN08-129

 

196.00

326.59

130.59

90.72

428.44

297.64

0.338

 and contains

 

219.50

225.30

5.80

4.03

19.03

13.22

0.352

 

287.50

293.00

5.50

3.82

18.04

12.53

0.413

 

301.42

317.69

16.27

11.30

53.38

37.07

0.629

with

304.50

314.91

10.41

7.23

34.15

23.72

0.818

or

306.15

310.49

4.34

3.01

14.24

9.88

1.062

or

306.75

308.30

1.55

1.08

5.09

3.54

1.399

 

319.95

326.12

6.17

4.29

20.24

14.07

0.895

with

319.95

321.85

1.90

1.32

6.23

4.33

1.103

       and

 

329.47

334.70

5.23

3.63

17.16

11.91

0.469

 

LN08-130

 

226.00

332.04

106.04

66.73

347.90

218.93

0.324

 and contains

 

226.00

277.00

51.00

32.10

167.32

105.31

0.244

 

277.00

290.00

13.00

8.18

42.65

26.84

0.700

with

285.23

287.12

1.89

1.19

6.20

3.90

1.568

 

290.00

316.80

26.80

16.87

87.93

55.35

0.276

 

316.80

321.78

4.98

3.13

16.34

10.27

0.759

with

319.35

321.78

2.43

1.53

7.97

5.02

1.116

       and

 

338.10

345.00

6.90

4.34

22.64

14.24

0.204

The nickel bearing sulphide mineralization, with estimations ranging from 1% to 20% fine-grained disseminatations up to massive 100% sulphides, is contained within serpentenized komatiitic ultramaftic extrusive flows with occasional spinifex texture.

 

The assaying technique used is the industry standard for base metal assaying, which uses nitric and hydrochloric acids that extracts nickel only from sulphide mineralization and not from nickel silicate minerals.

 

The assaying of split core samples was conducted by Swastika Laboratories, and included the insertion of

blanks and standards. The Qualified Person in charge of the Langmuir Project and the person who prepared the

technical data in this release is Kian Jensen, B.Sc., P.Geo. (On), who is an arm's length party retained by the

Company to carry out its exploration program on the Langmuir Project.

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Inspiration Intersects 0.674% ni over 24.44m (08-Jun-2009)

For further information : Download the PDF.

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