Geo Minerals-Positive Drilling Results at Red Hills, Success Continues on the Arizona Porphyry Projects
February 14 2011 - 8:00AM
Marketwired
GEO MINERALS LTD. (TSX VENTURE: GM)(FRANKFURT: 8G3) ("GEO" or the
"Company") is pleased to announce the completion of an initial
drill test of one IP geophysical anomaly on a portion of its Red
Hills porphyry copper property in south central Arizona. A single
vertical RC hole drilled to test this anomaly encountered variably
altered and mineralized rocks before termination of the hole at 610
meters (2,000 feet). This follows directly on positive results at
Middle Mountain, Arizona, where drilling encountered 154 meters
(505 feet) of altered granitic porphyry rocks with sulfides, or
oxides after sulfides (see news release, Jan. 17, 2011). Based on
the correspondence of the deep induced polarization (IP) anomaly
with alteration and mineralization at depth in the Red Hills
drilling, additional IP geophysics is planned in order to direct
the next phase of drilling.
The Red Hills porphyry copper project is located in a
southwest-trending belt of porphyry-copper mineralization that
includes operating mines such as Ray, Copper Cities,
Miami-Inspiration, Carlotta, and the Resolution deposit that is
presently under pre-feasibility assessment by Rio Tinto. Drilling
at Red Hills in 2009 included an intersection of exotic copper
oxide mineralization (see news release, Jan. 8, 2009), and a
geophysical survey completed in 2010 identified three separate IP
anomalies that led to the acquisition of 31 additional claims
totaling 253 hectares (see news release, May 11, 2010). The present
drilling program completed a vertical RC drill hole on one anomaly
for a total of 610 meters (2,000 feet).
Bedrock was intersected at 10 meters (approx. 35 feet)
consisting of coarse-grained granite with local porphyry dikes and
some granitic rocks with textures consistent with Laramide age
granites associated with porphyry copper deposits in the region. In
the upper part of the drill hole, these rocks were generally weakly
altered with local chlorite + sericite altered zones with primary
iron-oxide + quartz +/- oxidized chalcopyrite + pyrite veins. The
iron-oxide alteration increased at depth, particularly below
approx. 550 meters (approx. 1800 feet) where alteration
characterized by quartz + sericite + pyrite was also encountered,
with locally pervasive intervals containing as much as 5%
disseminated pyrite below about 580 meters (approx. 1900 feet).
These alteration assemblages continued to the end of the hole at
610 meters (2000 feet). The styles of alteration and locally
abundant pyrite mineralization is suggestive that a structural
block containing peripheral, shallow styles of porphyry
mineralization was encountered at depth, providing additional
evidence that one or more porphyry centers have been dismembered
across the property.
Based on these results, further IP profiles are planned in order
to determine where additional drill holes should be placed to
intersect better mineralized portions of the system. Representative
samples of the lithologies will also be assayed with results
expected in the coming weeks.
"We are very encouraged by these results, in particular, that
the IP geophysics does appear to correlate with alteration and
mineralization suggestive of a buried porphyry system at Red
Hills," states Michael England, CEO of Geo Minerals. "Both the Red
Hills and Middle Mountain projects are conceptual porphyry copper
plays, and these positive results give both projects
credibility."
GEO has an option agreement with Inmet Mining Corp. (TSX: INM)
to explore the Red Hills porphyry copper project, with GEO holding
its interest under a mining lease and option agreement with
Eurasian Minerals Inc. (TSX VENTURE: EMX) 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 Red Hills.
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. (TSX VENTURE: EMX) 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 (TSX VENTURE: IMN) is a global mining
company that produces copper, zinc and sulphur with operations in
Turkey, Finland, 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 the 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.
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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