Porphyry Copper Project, Arizona
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VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 17, 2011) -
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.
FOR FURTHER INFORMATION PLEASE CONTACT: Michael England
Geo Minerals Ltd.
President
1-604-683-3995 or Toll Free: 1-888-945-4770
1-604-683-3988 (FAX)
http://www.geominerals.ca/">www.geominerals.ca
