Geo Minerals Completes Successful Drilling at Middle Mountain Porphyry Copper Project, Arizona
January 17 2011 - 7:00AM
Marketwired
GEO MINERALS LTD. (TSX VENTURE: GM)(FRANKFURT: 8G3) ("GEO" or the
"Company") is pleased to announce completion of its drilling
program with Inmet Mining Corp. at the Middle Mountain porphyry
copper property in south central Arizona. Two vertical drill holes
were completed using reverse-circulation drilling methods to test
for porphyry copper mineralization believed to be present in
extended and tilted structural blocks beneath shallow gravel cover
and outcrops exhibiting intense alteration and quartz-sulfide
veining. One hole on the eastern portion of the property
encountered 154 meters (505 feet) of altered granitic porphyry
rocks with sulfides or oxides after sulfides, and will be assayed
for copper in the coming weeks.
Based on the drilling results, the Company plans to file permits
for an additional series of drill holes, with the goal to test the
extent of the altered and mineralized rocks in the eastern portion
of the property. This is the same region where altered and
mineralized rocks were reported in the previous drilling program
(see news release, Jan. 8, 2009).
Drill hole MM-24 tested a geophysical anomaly on the eastern
part of the property, and encountered basement rock after passing
through 68 m (225 ft) of unconsolidated cover. Three meters (10 ft)
of volcanic rock gave way to intensely quartz-sericite-pyrite
altered granitic rocks with oxidized pyrite. At 85 m (280 ft),
fresh pyrite was encountered and continued intermittently to 108 m
(355 ft) with some zones exhibiting black coatings on the pyrite.
Several varieties of granite porphyry were then encountered with
weak to moderate alteration including iron oxides after sulfides.
Less altered porphyritic rock was encountered at 146 m (480 ft),
with thin veins of pyrite continuing to the bottom at 226 m (740
ft).
Drill hole MM-1 was collared four and a half kilometers
west-southwest of MM-24, and encountered biotite granodioritic
porphyritic rocks and porphyries (likely Laramide age) after
passing through approximately 61 m (200 ft) of unconsolidated
cover. The porphyritic rocks were weakly chlorite and locally
epidote altered, and continued to the TD at 300 m (985 ft). Several
faults were encountered including one at 227 m (745 feet) with
abundant hematite coated fractures and associated calcite and MnOx
veining.
All descriptions are visual field-based observations; relevant
intervals will be assayed with results expected in the coming
weeks. The drill rig will next mobilize to the Company's Red Hills
porphyry copper project, located ten kilometers north of Middle
Mountain.
GEO has an option agreement with Inmet Mining Corp. (INM-TSX) to
explore the Middle Mountain porphyry copper project, with GEO
holding its interest under a mining lease agreement with Eurasian
Minerals Inc. (EMX-TSX: V) through its wholly-owned subsidiary
Bronco Creek Exploration (see news release, Nov. 17, 2009).
Eurasian Minerals is acting as manager for the work programs at
Middle Mountain.
The technical contents of this release were approved by
Technical Advisor to Geo Minerals and qualified person as defined
by National Instrument 43-101, Dr. Tom E. McCandless, P. Geo.
Geo Minerals is a junior exploration company actively seeking
mineral and energy opportunities for the benefit of all our
stakeholders, with four active porphyry copper exploration projects
in Arizona.
Eurasian Minerals Inc. (EMX-TSX: V) is a Canadian-based junior
exploration company with properties in Haiti, Turkey, Europe,
United States, the Kyrgyz Republic, and Australia/Asia-Pacific.
Inmet Mining Corporation (IMN-TSX: V) is a Canadian-based global
mining company that produces copper, zinc and gold, with operations
in Turkey, Finland, Canada and Spain.
ON BEHALF OF THE BOARD
Michael England, President
Forward-Looking Statement:
Some of the statements in this news release contain
forward-looking information that involves inherent risk and
uncertainty affecting the business of Geo Minerals Inc. Actual
results may differ materially from those currently anticipated in
such statements.
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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