Geo Minerals Acquires 100% of Additional Claims in Quebec Along Southwest Trend of BonTerra Resources
November 16 2010 - 8:33AM
Marketwired
GEO MINERALS LTD. (TSX VENTURE: GM)(FRANKFURT: 8G3) ("Geo" or the
"Company") is pleased to announce it has acquired the Onstrike
claims located in northwestern Quebec, Canada to the southeast of
BonTerra Resources Inc.'s (BTR-TSX: V) Eastern Extension property.
BonTerra is in the midst of a successful drilling program with many
notable gold intercepts over significant intervals. To view
BonTerra's most recent announcements, visit BonTerra's website.
These claims consist of approximately 1,380 acres along the
southwest trend of Eagle Hill Exploration Corp.'s Windfall Lake
project and BonTerra Resources Inc.'s Eastern Extension property in
northwestern Quebec, Canada. Several areas covered by the claims
have a high probability for orogenic gold deposits in the Abitibi
as defined by Lamothe and Harris, 2006, and several 300 metre
spaced mag highs occur on the claims. The Windfall Lake property
hosts high-grade gold veins and has potential for wide mineralized
zones of gold mineralization which has underground and near-surface
bulk mining potential.
Geo will pay the vendor $10,000, issue 500,000 common shares and
grant a 2% NSR. The Company can purchase back 1% of the NSR for $1
million.
This agreement is subject to TSX Venture approval.
Geo Minerals is a junior exploration company actively seeking
mineral opportunities in North America for the benefit of all its
stakeholders. For further information we invite you to visit us at
www.geominerals.ca.
ON BEHALF OF THE BOARD
Michael England, President
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Geo Minerals Ltd. Michael England President
1-604-683-3995 or Toll Free: 1-888-945-4770 1-604-683-3988 (FAX)
www.geominerals.ca
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