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06.11.2009
General Metals Advanced Metallurgical Update on the Independence Project
General Metals Advanced Metallurgical Update on the Independence Project
RENO, NV--(09/21/09) - General Metals Corporation (the "Company") (OTC.BB:GNMT - News) (Frankfurt:GMQ - News), announces that in July, the Company sent 1200 pulp samples to SGS Mineral Services in Toronto, Canada for cyanide soluble testing and assaying. The purpose is to determine the amount of gold or silver recovered during a timed test. This information then is compared to the assays for the original pulps and a percentage recovery may be determined in each case. This information fits into the Mine Model being prepared by our Independent Qualified Person and helps him to define a cut-off grade suitable for optimum operation of the mine. To date we have received over 600 Certificates of Assay for the samples and expect the balance in the next week or so. Preliminary review of the results to date are consistent with management's expectations. While this information may not usually be required for a 43-101 compliant resource calculation, management believes that, once completed, it will provide a greater degree of confidence in the resource calculation provided in the report.
SGS Minerals Services (Toronto) is accredited by Standards Council of Canada (SCC) and conforms to the requirements of ISO/SEC 17025 for specific tests as indicated on the scope of accreditation to be found at http://www.scc.ca/enprograms/lab/mineral.shtml.
This information will also be provided to Mclelland Labs of Sparks, NV who is contracted for conducting the overall metallurgical work for the Company. The Bulk Samples obtained from the Independence Mine are already at Mclelland and preliminary results are expected within the next week. Mclelland Labs is considered as one of the best metallurgical contractors in Nevada and provides testing and certified results for numerous mining projects.
Dan Forbush, the Company's CFO added, "These results will give us a reliable number of ounces of gold and silver upon which to build our economic model which leads to reserves and our ability to plan accurate budgets for our Plan of Operation. I am personally excited to see this project progressing at such a great pace. Thanks to our shareholders, we are able to keep our financing activities in step with advancing testing and permitting without any delays."
The Company has selected the Merrill Crow precious metals recovery process system for the Independence Mine Project. This process system is particularly well suited for the mineralized material identified by drilling at the project which includes a high ratio of silver to gold. The Independence Mine, when historically operating, used a Merrill Crow recovery system on this ore as well. This process method was also deployed successfully at the previous mine constructed by Management in the Comstock Lode in 2003 - 2004 and has proven to be the most effective method of gold and silver recovery.
More information is available on the Company's activities on the Company's website at www.gnmtlive.com
About General Metals Corporation: General Metals Corporation is an aggressive junior minerals exploration and development company, based in Reno, Nevada. The Company is actively exploring and developing its 100% controlled Independence property strategically located in the prolific and highly prospective Battle Mountain Mining District, Nevada. Permitting and Engineering for our proposed heap leach production is underway at the Independence Mine. We are also continuously evaluating future growth opportunities as potential acquisitions for the Company.
Notice Regarding Forward-Looking Statements
This news release contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, that the proceeds from the recent private placement will allow the Company to proceed with permitting at its Independence Mine in Nevada or any shallow mining production later this year, that any estimated ounces of gold or silver are contained in the mineralized material in the "Shallow Target," and is proposed to be mined and loaded onto a cyanide heap leach pad, or any future financings that the Company may enter into.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mineral exploration. We are not in control of metals prices and these could vary to make development uneconomic. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-KSB for the most recent fiscal year, our quarterly reports on Form 10-QSB and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
Contact: Wayne Meyerson Investor Relations General Metals Corporation 615 Sierra Rose Dr. Suite 1 Reno, NV 89511 wayne@gnmtlive.com 775.583.4636 office 775.830.6429 cell
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RENO, NV--(09/21/09) - General Metals Corporation (the "Company") (OTC.BB:GNMT - News) (Frankfurt:GMQ - News), announces that in July, the Company sent 1200 pulp samples to SGS Mineral Services in Toronto, Canada for cyanide soluble testing and assaying. The purpose is to determine the amount of gold or silver recovered during a timed test. This information then is compared to the assays for the original pulps and a percentage recovery may be determined in each case. This information fits into the Mine Model being prepared by our Independent Qualified Person and helps him to define a cut-off grade suitable for optimum operation of the mine. To date we have received over 600 Certificates of Assay for the samples and expect the balance in the next week or so. Preliminary review of the results to date are consistent with management's expectations. While this information may not usually be required for a 43-101 compliant resource calculation, management believes that, once completed, it will provide a greater degree of confidence in the resource calculation provided in the report.
SGS Minerals Services (Toronto) is accredited by Standards Council of Canada (SCC) and conforms to the requirements of ISO/SEC 17025 for specific tests as indicated on the scope of accreditation to be found at http://www.scc.ca/enprograms/lab/mineral.shtml.
This information will also be provided to Mclelland Labs of Sparks, NV who is contracted for conducting the overall metallurgical work for the Company. The Bulk Samples obtained from the Independence Mine are already at Mclelland and preliminary results are expected within the next week. Mclelland Labs is considered as one of the best metallurgical contractors in Nevada and provides testing and certified results for numerous mining projects.
Dan Forbush, the Company's CFO added, "These results will give us a reliable number of ounces of gold and silver upon which to build our economic model which leads to reserves and our ability to plan accurate budgets for our Plan of Operation. I am personally excited to see this project progressing at such a great pace. Thanks to our shareholders, we are able to keep our financing activities in step with advancing testing and permitting without any delays."
The Company has selected the Merrill Crow precious metals recovery process system for the Independence Mine Project. This process system is particularly well suited for the mineralized material identified by drilling at the project which includes a high ratio of silver to gold. The Independence Mine, when historically operating, used a Merrill Crow recovery system on this ore as well. This process method was also deployed successfully at the previous mine constructed by Management in the Comstock Lode in 2003 - 2004 and has proven to be the most effective method of gold and silver recovery.
More information is available on the Company's activities on the Company's website at www.gnmtlive.com
About General Metals Corporation: General Metals Corporation is an aggressive junior minerals exploration and development company, based in Reno, Nevada. The Company is actively exploring and developing its 100% controlled Independence property strategically located in the prolific and highly prospective Battle Mountain Mining District, Nevada. Permitting and Engineering for our proposed heap leach production is underway at the Independence Mine. We are also continuously evaluating future growth opportunities as potential acquisitions for the Company.
Notice Regarding Forward-Looking Statements
This news release contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, that the proceeds from the recent private placement will allow the Company to proceed with permitting at its Independence Mine in Nevada or any shallow mining production later this year, that any estimated ounces of gold or silver are contained in the mineralized material in the "Shallow Target," and is proposed to be mined and loaded onto a cyanide heap leach pad, or any future financings that the Company may enter into.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mineral exploration. We are not in control of metals prices and these could vary to make development uneconomic. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-KSB for the most recent fiscal year, our quarterly reports on Form 10-QSB and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
Contact: Wayne Meyerson Investor Relations General Metals Corporation 615 Sierra Rose Dr. Suite 1 Reno, NV 89511 wayne@gnmtlive.com 775.583.4636 office 775.830.6429 cell
NEWSLETTER REGISTRIERUNG:
Aktuelle Pressemeldungen dieses Unternehmens direkt in Ihr Postfach:
http://www.irw-press.com/alert_subscription.php?lang=en&isin=US3703042065
Mitteilung übermittelt durch IRW-Press.com. Für den Inhalt ist der Aussender
verantwortlich.
Kostenloser Abdruck mit Quellenangabe erlaubt.