SHUNIAH, ONTARIO -- (Marketwire) -- 01/30/13 -- James R. B. Parres, Chief Executive Officer, of Jiminex Inc. (TSX VENTURE: JIM) reports that 454 metres of drilling has been completed at the Misehkow River gold property, Pickle Lake region, Ontario. Two drill holes were completed and a third drill hole (MIS-12-12) was stopped in progress, in November 2012, due to freeze-up conditions and unavailability of suitable aircraft locally. A total of 310 drill core samples were split and sent to Accurassay Labs, Thunder Bay, Ontario for gold assay with the best assay being 935 ppb over 1.3 metres. Mr. Parres states "We have been drill testing a new highly prospective area 4 km west of the 2011 new gold zone discovery at Misehkow River. The results from the third hole, yet to be completed, indicate a geochemically-anomalous gold halo zone similar to that at the nearby past gold producer, the Dona Lake Mine. I am quite eager to get back to finish MIS-12-12 and the remainder of the phase two drilling which will also continue to test the 2011 discovery. This discovery intersected a 2.4 m wide zone with a weighted average of 18.3 g/t gold including 116 g/t over a 0.3 m width. Our new President Johnson Zhang has been working on a financing for Jiminex, which will allow our company to move forward on all its exploration projects in 2013."
At Misehkow River, geological mapping, outcrop stripping and channel sampling were done between May and November 2012. The planned 2,000 metre phase two diamond drilling program began towards the end of September continuing until near the end of November 2012. This drill program was delayed at this time for freeze-up. Drill hole MIS-12-12 was not completed due to the delay. A total of 78 samples were sent from this hole to the lab. The highest value reported was 169 ppb gold.
The 92 m drilled in MIS-12-12 has 62 gold geochemical values greater than 10 ppb with an average value being 37 ppb. At the nearby, past-producing, Dona Lake gold mine, gold geochemical bedrock background values are 1 ppb, but increase to 10 ppb near the deposit as an alteration halo to the actual mined gold mineralization in the iron formation. In MIS-12-12 these gold values are in the completed upper part of the hole above the expected depth of the iron formation and Jiminex Inc. technical management believes that these geochemically-anomalous gold values represent a gold alteration halo similar to that at Dona Lake as well as at many other gold deposits worldwide. This suggests there could possibly be a more significantly gold mineralized zone in the deeper iron formation not as yet reached in MIS-12-12. Completion of this hole will determine if this theory is correct.
Jiminex Inc. was listed as a resource company on the TSX Venture Exchange in 2009 and is focused on gold exploration in Canada. The Company acquired three high potential properties located in three well-known mining camps. The 100%-owned Misehkow River property is situated in the Pickle Lake gold mining region of Ontario near to the Pickle Crow Project of PC Gold Inc. and in the same general region as the Musselwhite Mine currently being mined by Goldcorp Inc. Misehkow River presents an opportunity to possibly locate more than one gold deposit within a large target area. The Northern Eagle property is located in the Hemlo gold mining camp, Ontario close to the 22 million ounce Hemlo deposit being mined by Barrick Gold Corp. The property is considered one of the best target areas in which to locate another Hemlo-style gold deposit and Jiminex has earned a 50% interest from Beaufield Resources Inc. The 100% owned Parres and Parres Two properties are located in the Snow Lake copper-zinc and gold mining camp of Manitoba where the major Lalor Lake copper-zinc and gold deposit discovery of HudBay Minerals Inc. is actively being explored and developed.
Allan J. Willy, P. Eng., VP Exploration & Director of Jiminex Inc. is the qualified person responsible for the geotechnical content of the Company's public information.
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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.
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