Inspiration Mining Corporation is pleased to announce that it has received ministerial approval to take its Langmuir Property to lease. Taking the Langmuir Property to lease is an important step in the Corporation's development from being an exploration company to being and a production company.
In order to bring the property to lease, the Corporation is required to have the Langmuir Property surveyed by a certified land surveyor, which such survey is currently underway and is anticipated to be completed in the first quarter of 2014. The Corporation has retained Exp Geomatics Inc. to complete the land survey.
"We are pleased that Exp Geomatics has commenced the surveying of the Langmuir Property," said Randy Miller, President of the Corporation. "Exp Geomatics has the necessary knowledge and skill to complete the survey in a professional manner. The surveying of the property is the last critical step in the Corporation bringing the Langmuir Property to lease. This represents a significant step in the continued development of the property and the Corporation into a production company."
Langmuir Property
The Langmuir Property comprises 69 mining claims covering 1121 hectares in the Langmuir Township, 25 km southeast of Timmins, Ontario. It hosts the past nickel producing mines of Langmuir No. 1 and 2.
In 2010, Micon International Limited ("Micon") completed the National Instrument 43-101 compliant resource estimate report (the "Micon Report") for the Langmuir North Deposit and the Langmuir No 1 Deposit. A copy of the Micon Report can be viewed under the Corporation's profile on the SEDAR website (http://www.sedar.com).
Given that the Langmuir No. 1 mine already has some infrastructure in place, such as its access ramp, and the presence of high grade nickel (ranging from 1.5% to 15%, as ret out in the Micon Report), the Corporation is of the opinion that in light of the current economics, it will make economic sense to further advance the Langmuir No. 1 deposit.
The Corporation has completed several internal studies which supports its decision to focus on the development of the Langmuir No. 1 mine. Based on the results of such studies, the Corporation is confident that once the ramp is reopened and the mine is dewatered, it will be able to proceed with preliminary underground drilling with the objective of completing a bulk sample.
Source: http://www.inspirationmining.com/