Inomin Mines Inc. [MINE-TSXV] reported that drilling is under way at Beaver-Lynx property located between the Gibraltar and Mount Polley mines in the Cariboo region of south-central British Columbia.
Drilling at the Beaver property is currently targeting the South zone located approximately 3 km southwest of Inomin’s previous drilling discoveries. The objective of the program is to drill test the South zone’s potential for significant magnesium and nickel-cobalt-chromium mineralization.
The South zone is one of five main mineral zones identified at Beaver prospective for hosting critical mineral deposits. Previous drilling by the company in 2021 intersected mineralization in the Spur and North Lobe zones over a strike length of 5.7 km. All holes encountered significant intervals of mineralization, with drill hole B21-02 intersecting 252.1 metres grading 20.6% magnesium, 0.16% nickel and 0.33% chromium.
Testing carried out by researchers at the University of British Columbia in 2022 on the 2021 drill core demonstrated the potential for carbon capture and storage through key minerals that sequester carbon dioxide (CO2) from the atmosphere. Preliminary metallurgical testing completed in 2022 demonstrated up to 99% recovery of the magnesium using an HCl (hydrochloric acid) leach and 58% recovery of the nickel through floatation.
Positive drilling results from the current and previous programs enable the company to identify the size and grade potential of the various zones prior to definition drilling for a resource.
John Gomez, president, said: “We’re delighted to get the drill turning again at Beaver where our maiden drilling program discovered significant high-grade magnesium, as well as nickel, cobalt and chromium – all critical minerals. We plan to drill more metres than our previous drilling campaign that enabled us to make our big discoveries. As we’re testing new targets, the current drilling program could expand our discovery footprint substantially and materially increase the value of our project.”
The company also announces the proposed acquisition of approximately 197 hectares at Beaver-Lynx through staking (177 hectares) and a purchase agreement (20 hectares). The purchase of a 20-hectare claim by way of a purchase agreement covers a prospective mineral target and enables Inomin to consolidate the Beaver-Lynx project that now totals approximately 22,644 hectares. Subject to TSX Venture Exchange acceptance, the 20-hectare claim will be acquired for 100,000 common shares of the company.
Inomin Mines is focused on the identification, acquisition and exploration of mineral properties with strong potential to host significant resources, especially critical minerals, as well as gold and silver projects.