- Inomin Mines Inc. (MINE) discovers previously unreported significant magnesium grades
- Hole BN14-23 reported high grades of magnesium and nickel mineralization
- New and old data demonstrate high-grade magnesium is widespread at Beaver
- The latest results include the longest mineralized hole ever drilled at Beaver, and the first-ever drilling in the Spur zone
- The nearby Lynx area is similar to Beaver with even larger prospective target areas
- Inomin Mines Inc. (MINE) is up 18.87 per cent trading at $0.31 per share as of 12:54 p.m. ET
Inomin Mines Inc. (MINE) has discovered previously unreported significant magnesium grades from historical drilling on its Beaver Property.
Highlights include hole BN14-23 which reported exceptionally high grades of magnesium and included nickel mineralization.
Holes were drilled in the Skelton and Ring zones which were not tested by Inomin in the 2021 campaign, as well as the North Lobe zone. The combined data demonstrate that high-grade magnesium mineralization is widespread at Beaver. Additional sampling will be completed during the upcoming field season.
John Gomez, President of Inomin, stated,
“We are in the unique position of having high-grade magnesium and potentially a lot of it – a great combination.”
Last year Inomin’s inaugural drilling program found significantly greater magnesium than past drill programs. The latest results include the longest mineralized hole ever drilled at Beaver, and the first-ever drilling in the Spur zone.
Since 2014, magnesium and nickel prices have tripled and quadrupled. Moreover, the recently released Canadian 2022 budget has allocated $3.8 billion to implement the country’s first critical minerals strategy. This incentive will ramp up the extraction and processing of key minerals including nickel, lithium, cobalt, and magnesium.
Inomin’s Beaver-Lynx project is approximately 20,000 hectares in size and is in British Columbia’s Cariboo Region.
The Lynx area is geologically similar to Beaver with even larger prospective target areas. It shows potential for multiple, large, bulk-tonnage, nickel deposits.
Inomin Mines Inc. (MINE) is up 18.87 per cent trading at $0.31 per share as of 12:54 p.m. ET.