Feb. 25, 2010 (TheNewswire.ca) --
February 25, 2010 - Pass Lake, Ontario - James R. B. Parres, President & CEO of Jiminex Inc. (TSXV:JIM) is pleased to report that Geotech Ltd. has finished flying the Mega Versatile Time Domain Electromagnetic ( Mega VTEM35) and high sensitivity cesium magnetic state-of-the-art airborne geophysical survey system over the Parres and Parres Two properties. The Company also added 7.4 square km to the Parres Two Property. A total of 806 km of survey line were flown with resulting maps expected within a week. Jiminex will be engaging the services of a consulting geophysicist, with Snow Lake and VTEM experience, to pick and prioritize the anomalies detected by the survey as soon as possible. Rodren Drilling Ltd., West St. Paul, Manitoba has been contracted to diamond drill the Mega VTEM35 anomalies, the drilling anticipated to begin early in the second quarter.
The Mega VTEM35 airborne geophysical system can detect conductive geological zones such as copper-zinc sulfide mineralized rock to depths of 500 to 600 metres, or even deeper depending on the geological characteristics of the survey region. The accurate positioning of anomalies detected by this system means that, if the Mega VTEM35 anomalies are well-defined, ground follow-up line cutting and geophysical surveys are not required. This will result in substantial exploration cost savings. Using a geographic positioning system (GPS), drilling can proceed directly using the survey anomaly GPS co-ordinates to accurately locate the Mega VTEM35 targets zones and the required diamond drill hole locations on the ground.
The new claims were staked adjoining the Parres Two property on its north boundary and covering a portion of the original claims over flown to the north by the Mega VTEM35 survey. The preliminary results of the survey indicate a long conductive zone which crosses a part of the new claims. The Parres Two property is now about double its original size totaling 14.4 square km in area. A map showing the present sizes and locations of the Company's land holdings at Snow Lake, Manitoba will be put on the web site www.jiminex.com .
Jiminex Inc. will be exhibiting in the upcoming Investors Syndicate at the Prospectors and Developers Association of Canada International Convention March 7-10, 2010 in Toronto, Ontario. Please visit our Booth No. 3327, management will be there to answer investor questions.
Jiminex Inc. was listed as a junior resource company on the TSX Venture Exchange in late August 2009 and is focused on gold exploration in Canada. At present, the company's main exploration activity will be on the Parres and Parres Two properties located in the well-known Snow Lake copper-zinc and gold mining camp of Manitoba where the major new Lalor Lake copper-zinc and gold deposit discovery of HudBay Minerals Inc. (TSX:HBM) is actively being explored and developed. Jiminex is also present in the Hemlo gold mining camp, Ontario close to the World-Class 21 million ounce Hemlo gold deposit currently being mined by Barrick Gold Corp. (NYSE:ABX) (TSX:ABX) Jiminex's Northern Eagle Property is considered one of the best target areas in which to locate another Hemlo-style gold deposit. The Misehkow River Property located in the Pickle Lake gold region of Ontario presents opportunity to locate iron formation hosted gold deposits over a large target area of approximately 20 kilometres. Jiminex is actively seeking to locate and acquire new high potential gold exploration properties.
Allan J. Willy, P. Eng., VP Exploration & Director of Jiminex Inc. is the qualified person responsible for the geotechnical content of this news release.
For further information, please contact:
Jim Parres, President & CEO
Phone: (807) 977-1679
Fax: (807) 977-1769
This press release may contain forward-looking statements that are subject to known and unknown risks and uncertainties that could cause actual results to vary materially from targeted results. Such risks and uncertainties include those described in the Company's periodic reports including the annual report or in the filings made by the Company from time to time with securities regulations. The Company undertakes no obligation to publicly release the result of any revision of these forward-looking statements to reflect events or circumstances after the date they are made or to reflect the occurrence of unanticipated event.
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 RELEASE.
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