Drilling Results for Eva Kitto Property, Ontario
West Vancouver, British Columbia – July 10, 2012 – International Bethlehem Mining Corporation (the “Company” or “International Bethlehem”) is pleased to announce that its joint venture partner, Rainy Mountain Royalty Corp. (“Rainy Mountain” – TSX-V: RMO) has reported the results from its recently completed exploration and core drilling program on the Eva Kitto Property. The Eva Kitta Property is a "PGE" (Platinum Group Elements) exploration project and is located near the town of Beardmore, Ontario and approximately 190 kilometres northeast of Thunder Bay, Ontario. The Property is jointly owned (50/50) by Rainy Mountain and International Bethlehem.
As reported by Rainy Mountain, the recent exploration was a follow up core drill program based on the exploration and drilling previously completed on the Property by International Bethlehem in 2008 and 2010. Accordingly, Rainy Mountain’s Drill Hole EK-12-01 was drilled to explore for the first time a negative magnetic anomaly for potential Ni-Cu-PGE (nickel, copper, platinum group elements) "Noril’sk-type" mineralization, as previously observed by International Bethlehem. As indicated by Rainy Mountain, this large negative magnetic anomaly lies at the centre of a northern inward dipping ring dike phase of the gabbroic-ultramafic layered “Kitto Intrusion”. Rainy Mountain believes that the magnetic anomaly potentially represents Noril’sk-type basal massive mineralization, or possibly a feeder (bottom of the funnel) to the northern ring dike portion of the intrusion.
Rainy Mountain has also indicated that Drill Hole EK-12-01 was the first drill hole to explore the northernmost (and thickest) portion of the intrusion. The hole was drilled to a depth of 405 metres (intersecting 377 metres of the Kitto Intrusion below 28 metres of cover rocks), and according to Rainy Mountain, did not reach the basement contact or basal target. As a result, the magnetic anomaly remains unexplained and Rainy Mountain believes that further exploration and drilling is merited.
Typically, the Noril’sk-type genetic model requires a sulphur source and Rainy Mountain indicated in its news release that Drill Hole EK-12-01 was successful in intercepting veiny, serpentinized, magnetite and pyrrhotite ingestions possibly remobilized from an iron formation contaminant. Additionally, nearby (on surface) there is coincidental evidence of magnetite and pyrite suggestive of iron formation.
As reported by Rainy Mountain, in view of the significant thickness of the intrusion encountered and the limited initial budget for the drilling program, Drill Hole EK-12-01 was discontinued at a depth of 405 metres. Rainy Mountain and International Bethlehem intend to follow up on further drilling to extend Drill Hole EK-12-01 to the basement in order to obtain a more complete understanding of the magnetic anomaly.
J. Garry Clark, P.Geo., is acting as the Company's Qualified Person for the Eva Kitto Property project in accordance with regulations under NI 43-101.
For further information, contact Mr. Clive Shallow, Shareholder Communications at 604-922-2030, or visit the Company's website at www.bethlehemmining.com
INTERNATIONAL BETHLEHEM MINING CORPORATION
“Ronald A. Coombes”
Ronald A. Coombes, President
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