Company News Alert
Inspiration Announces Planned Work Program at Its 600 Acre Dry Fork, Utah Gold and Copper Property (ccnm)
TORONTO, ONTARIO--(Marketwire - Nov. 17, 2010) - Inspiration Mining Corporation ("Inspiration" or the "Corporation") (TSX:ISM)(FRANKFURT:OI8) is pleased to announce that it intends to proceed with a geophysical exploration program in Q2 2011 that will address both gold and base metal targets. The Dry Fork property, optioned by Inspiration in 2004, contains 31 contiguous lode claims and lies 6.4 KM north-northwest of Kennecott's Bingham Canyon copper –gold-molybendite mine and within 600M of Kennecott's past producing Melco and Barneys Canyon gold mines. In the period from 1988-2001, production from the two mines aggregated approximately 1.4 Million ounces of gold.
Inspiration has been actively working with Kennecott on acceptable arrangements regarding the 2011 Geophysical program that will allow for a safe, efficient and effective survey while addressing various considerations important to Kennecott. Inspiration is confident that an agreement will be reached in the near term that will allow for the Work Program to proceed as planned in Q2 of 2011.
"Although we remain primarily focused on our Langmuir Nickel project in Timmons Ontario, we are keen to advance our initial plans on Dry Fork given its superior location and encouraging historic surface geology", said Ian Stewart, President and COO of Inspiration.
Inspiration intends to proceed initially with GAR/SPG surveying whereby high angle structurally controlled gold mineralization in the near-surface to moderate depth (300 meter) range will be targeted using the gradient array resistivity (GAR) grid method with concurrent measurements of spontaneous potential (SP). The GAR/SPG survey would consist of approximately 31 grid lines totaling 42 kilometers in length. Immediately following the GAR/SPG survey, a Ground Magnetic Survey will be conducted to ascertain any evidence of anomalous features commonly associated with altered and mineralized intrusive bodies.
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.
FOR FURTHER INFORMATION PLEASE CONTACT:
Ian Stewart
Inspiration Mining Corporation
President and COO
416-842-9000
www.inspirationmining.com
OR
Gale Capital Corporation
Investor Relations:
604-221-7604
604-221-7606 (FAX)
galecapital@shaw.ca
The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
