Inspiration Intersects 0.313% Ni Over 48.88m or 160.37ft Containing 1.000% Ni Over 1.23m or 4.04ft (True Width): Financial News

Inspiration Intersects 0.313% Ni Over 48.88m or 160.37ft Containing 1.000% Ni Over 1.23m or 4.04ft (True Width)
Friday February 27, 2009 12:32 pm ET

TORONTO, ONTARIO--(MARKET WIRE)--Feb 27, 2009 -- Inspiration Mining Corporation (the "Corporation") (Toronto:ISM.TO - News) (Frankfurt:O18.F - News) is pleased to announce the results of the continuation of their diamond drilling program on its Langmuir Project, located in Langmuir Township south of Timmins, Ontario. The Langmuir Property consists of 69 unpatented contiguous mining claim units covering approximately 1090 hectares in the north-central portion of Langmuir Township, Porcupine Mining Division, and District of Cochrane, Ontario. The property is approximately 25 km southeast of Timmins, Ontario, and hosts the past producing Langmuir No.1 Mine, and majority of the past producing Langmuir No. 2 Mine.

Inspiration is continuing the drilling at the Langmuir Project - Langmuir No.2 Mine - North Zone. The detail fill-in drill program is designed to complete the definition of the nickel bearing mineralization. Several drill holes were terminated in nickel bearing mineralization and these drill holes have been extended.

 

The following table indicates the drill information for the North Zone drill
holes:

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Drill Hole     Grid     Grid      Dip   Azimuth   Section   Section  Length
           Northing  Easting          (Geodetic) Northing   Easting      (m)
            (metres) (metres)                     (metres)  (metres)
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LN08-136    3081.83  2006.08   -70.01    299.53   3671.98    196.40  413.47
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LN08-137    3082.73  1958.46   -55.85    299.03   3648.96    154.71  229.29
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LN08-138    3082.57  1958.70   -61.17    298.32   3648.94    155.00  260.39
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LN08-139    3055.72  2004.20   -54.37    300.57   3648.43    207.83  287.35
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LN08-140    3055.61  2004.36   -61.89    300.38   3648.42    208.02  310.46
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Drill hole LN08-136 was completed on Section 3675 North and below previously released drill holes LN08-133 to LN08-135.

Drill holes LN08-137 and LN08-138 were drilled approximately 41 meters west and 23 meters south of LN08-136 and LN08-139 and LN08-140 were drilled approximately 53 meters east of LN08-137. These drill holes were drilled down dip from previously released drill hole LN06-43 and up dip from previously released drill holes LN08-107, which contained 1.042% Ni over 9.95 meters or 32.64 feet (true thickness) from 282.40m to 296.00m.

The following revised assay results for drill holes LN08-136 to LN08-140, inclusively at the Langmuir No.2 Mine - North Zone have been received, compiled and condensed to the following:

 

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Drill Hole           From (m) To (m)   Core   True    Core   True  Weighted
                                     Length  Width  Length  Width   Average
                                         (m)    (m)    (ft)   (ft)     Ni(%)
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----------------------------------------------------------------------------

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LN08-136              194.06 241.70   47.64  29.33  156.30  96.23     0.243
         -------------------------------------------------------------------
                  and
         -------------------------------------------------------------------
                      251.00 330.40   79.40  48.88  260.50 160.37     0.313
         -------------------------------------------------------------------
             contains 293.00 295.00    2.00   1.23    6.56   4.04     1.000
         -------------------------------------------------------------------
                      301.00 304.00    3.00   1.85    9.84   6.07     0.393
         -------------------------------------------------------------------
                      320.00 330.40   10.40   6.40   34.12  21.00     0.530
         -------------------------------------------------------------------
                      321.00 325.00    4.00   2.46   13.12   8.07     0.635
         -------------------------------------------------------------------
                      326.00 328.72    2.72   1.67    8.92   5.48     0.610
         -------------------------------------------------------------------
                  and
         -------------------------------------------------------------------
                      334.55 360.42   25.87  15.93   84.88  52.26     0.432
         -------------------------------------------------------------------
         and contains 344.00 348.00    4.00   2.46   13.12   8.07     0.774
         -------------------------------------------------------------------
                   or 345.00 347.00    2.00   1.23    6.56   4.04     1.023
         -------------------------------------------------------------------
                  and 352.12 360.42    8.30   5.11   27.23  16.77     0.604
         -------------------------------------------------------------------
                 with 357.50 360.42    2.92   1.80    9.58   5.91     0.833
         -------------------------------------------------------------------
                  and
         -------------------------------------------------------------------
                      367.30 377.00    9.70   5.97   31.82  19.59     0.523
         -------------------------------------------------------------------
                   or 371.30 377.00   \5.70   3.51   18.70  11.52     0.744
         -------------------------------------------------------------------
                   or 372.10 374.00    1.90   1.17    6.23   3.84     1.052
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LN08-137              117.40 130.70   13.30  10.48   43.64  34.38     0.246
         -------------------------------------------------------------------
                  and
         -------------------------------------------------------------------
                      148.13 149.84    1.71   1.35    5.61   4.43     1.271
         -------------------------------------------------------------------
                   or 148.13 149.32    1.19   0.94    3.90   3.08     1.710
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----------------------------------------------------------------------------

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LN08-138              142.00 163.11   21.11  15.44   69.26  50.66     0.264
         -------------------------------------------------------------------
                      232.70 234.50    1.80   1.32    5.91   4.33     0.255
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----------------------------------------------------------------------------

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LN08-139              170.50 186.50   16.00  12.78   52.49  41.93     0.269
         -------------------------------------------------------------------
                  and
         -------------------------------------------------------------------
                      216.10 223.00    6.90   5.51   22.64  18.08     0.201
----------------------------------------------------------------------------
----------------------------------------------------------------------------

----------------------------------------------------------------------------
----------------------------------------------------------------------------
LN08-140              172.79 205.40   32.61  24.23  106.99  79.49     0.307
         -------------------------------------------------------------------
                   or 184.00 193.00    9.00   6.69   29.53  21.95     0.373
         -------------------------------------------------------------------
                  and
         -------------------------------------------------------------------
                      220.45 236.70   16.25  12.08   53.31  39.63     0.352
         -------------------------------------------------------------------
                  and
         -------------------------------------------------------------------
                      243.00 266.17   23.17  17.22   76.02  56.50     0.297
----------------------------------------------------------------------------
----------------------------------------------------------------------------

The nickel bearing sulphide mineralization, with estimations ranging from 1% to 20% fine-grained disseminatations up to massive 100% sulphides, is contained within serpentenized komatiitic ultramaftic extrusive flows with occasional spinifex texture.

The assaying technique used is the industry standard for base metal assaying, which uses nitric and hydrochloric acids that extracts nickel only from sulphide mineralization and not from nickel silicate minerals.

The assaying of split core samples was conducted by Swastika Laboratories, and included the insertion of blanks and standards. The Qualified Person in charge of the Langmuir Project and the person who prepared the technical data in this release is Kian Jensen, B.Sc., P.Geo. (On), who is an arm's length party retained by the Company to carry out its exploration program on the Langmuir Project.

The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.