Geo Receives NI 43-101 Technical Report and Resource Estimate for the Scotia Zn-Ag Property
VANCOUVER, BRITISH COLUMBIA, Jan 11, 2010 (MARKETWIRE via COMTEX News Network) --
GEO MINERALS LTD. (TSX VENTURE: GM) ("Geo") is pleased to announce it has received a National Instrument NI 43-101 Technical Report for its 100% owned Scotia Zn-Ag property, located 42 kilometers east-southeast of Prince Rupert in British Columbia. The Scotia property is a metamorphosed massive sulfide deposit, located within the Ecstall Belt of metavolcanic rocks that extends through west-central British Columbia. Resource modeling conducted in 2009 focused on previous drill results from the Albere Zone. The Resource model established a vertical range of sub-economic to economic grades of mineralization of 95 meters, and a horizontal range of 205 meters. The high grade "core" area widened to about 30 meters about 190 meters north of the outcropping main showing. The thickest drill intercept in the Albere Zone recorded 26.7 meters grading 9.0% zinc, 1.2% lead, 21.5 g/t silver and 0.3 g/t gold.
A Resource Estimate has been calculated for the Albere Zone by Giroux Consultants Ltd., based on forty-two drill holes totaling 4,343 meters. The results from a 1997 drilling program comprised most of the data used in the modeling, with much of the core re-assayed in 2008 to confirm earlier results (see May 8, 2008 News Release). Ordinary kriging was used to interpolate blocks based on mineralization content. Based on a 1% Zn cut-off, the Measured plus Indicated Resource within the 3-D mineralized shell totals 802,000 tonnes grading 4.9% Zn, 13.9 g/t Ag, and 0.2 g/t Au with an additional 702,000 tonnes grading 4.5% Zn, 13.7 g/t Ag and 0.2 g/t Au classed as Inferred. No economic parameters have been defined by the current Resource Estimate as to an appropriate cut-off for various types of mining. Arne Birkeland, P.Eng. and Gary Giroux, P.Eng. are co-authors of the NI 43-101 Technical Report and are responsible for its contents. The resource modeling was conducted under the direction of Giroux Consultants. The NI 43-101 Technical Report on which this release reports, will be filed on SEDAR by the Company and will be available for viewing in the near future at www.sedar.com.
A helicopter-borne multi-parameter geophysical survey was conducted by Aeroquest limited during August 2008. A total of 562.5 line-kilometres were flown using Aeroquest's AeroTEM II time domain EM and cesium magnetometer and gamma ray Spectrometer system. The Airborne Geophysical Survey identified a distinctive anomaly associated with the drilled portion of the Albere Zone. The Airborne survey established similar additional anomalies on strike, and adjacent to, the Albere Zone and elsewhere regionally on the Property.
Geo Minerals Board Member Paul D. Gray, P.Geo, and Arne O. Birkeland, P. Eng. acting as Qualified Persons as defined by NI 43-101 have reviewed and approved the information contained in this release.
ON BEHALF OF THE BOARD
Michael England, President
The TSX Venture Exchange has not reviewed nor does it accept responsibility for the adequacy or accuracy of this press 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
SOURCE: Geo Minerals Ltd.
