Communicators
are winners!
News
24.11.2009
General Metals Hill Zone Oxide Gold Deposit Drill Results: 195 Feet at 0.035 opt Gold – 0.527 opt Silver, Includes 10 Feet of 0.223 opt Gold 14.24 opt Silver
General Metals Hill Zone Oxide Gold Deposit Drill Results: 195 Feet at 0.035 opt Gold – 0.527 opt Silver, Includes 10 Feet of 0.223 opt Gold 14.24 opt Silver
RENO, NV, Nov 24, 2009 - General Metals Corporation (the "Company") (OTCBB: GNMT) (FRANKFURT: GMQ1), announces results from the first four holes of its 2009 definition drilling campaign in the Hill Zone surface oxide area encountered significant mineralization including a 195 foot interval in hole GM-88 which averaged 0.035 ounces per ton gold (opt Au) and 0.527 ounces silver per ton (opt Ag), including a 10 foot interval from 140 to 150 feet that averages 0.223 opt Au and 14.24 opt Ag. The results for these holes met or exceeded the Company's expectations and supports continuity of high grade gold zones within Independence Surface Oxide gold deposit.
Table 1 below summarizes the significant intercepts contained in holes GM 85, 86, 87 and 88.
Table 1
Significant Drill Intercepts
Drill Hole From (ft) To (ft) Length opt Au opt Ag
GM-85 25 40 15 0.034 0.298
Also 75 175 100 0.013 0.269
GM-86 0 120 120 0.015 0.303
including 65 85 20 0.022 0.298
GM-87 0 75 75 0.014 0.308
Also 100 115 15 0.023 1.372
GM-88 95 290 195 0.035 0.527
Including 95 110 15 0.069 0.462
Including 140 150 10 0.223 14.24
Based on sample geochemistry and geology, the gold and silver mineralization in drill hole GM 88 appears to be a continuation of the high grade mineralization encountered in hole GM-52, situated approximately 100 feet to the south, ,containing gold and silver mineralization averaging 0.096 opt Au and 51.72 opt Ag over the 20 foot interval from 75 to 95 feet. Mineralized intercepts in drill holes GM 68, 69, and 70, (NR dated September 9, 2008 and October 23, 2008) situated 100 feet north of GM-88, also support continuity of a higher grade gold-silver mineralization area in the Hill Zone.
The 2009 Hill Zone fill-in drill program objectives are:
Confirm continuity of high grade gold silver zones within the deposit -- Move all of the Hill Zone gold-silver mineralization into Measured and Indicated categories -- Provide greater drill hole density to facilitate pit and detailed mine design
Management believes continued results such as these from this drill program, and the anticipated results from metallurgical column testing currently underway at McClelland Labs in Reno, Nevada, will allow the Company to upgrade the Measured and Indicated resource categories to Proven and Probable Mineable Reserves, as it moves the project forward to Feasibility and Production.
Excellent metallurgy of 84.3 % gold recovery, as reported in the Company's press release dated October 5, 2009, low apparent strip ratio and higher than average grade all make the Hill Zone the best location for a conceptual "starter pit". Management believes the Hill Zone will allow the Company to initiate mining on high grade mineralization that will accelerate pay back of its capital investment, thereby increasing potential for future profitability of the Company.
Drift Exploration is providing drilling services and all samples are being submitted to American Assay of Reno, Nevada for analytical services. In keeping with the Company's practice of following industry accepted "best practices", drilling is sampled in five (5) foot intervals. The Company inserts a series of Standards, blanks and Certified Reference materials at a rate of approximately 1 in 30, as it has in the past for Quality Assurance - Quality Control.
Further details regarding the Independence mineralization, drilling efforts, both historical and current together with current permitting activity are available on the Company's website 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 of Nevada where the Company recently announced CNI 43-101 compliant resources containing in excess of one million ounces of gold and 3.8 million ounces of silver. Permitting and Engineering for our proposed heap leach production is underway at the Independence Mine.
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.
RENO, NV, Nov 24, 2009 - General Metals Corporation (the "Company") (OTCBB: GNMT) (FRANKFURT: GMQ1), announces results from the first four holes of its 2009 definition drilling campaign in the Hill Zone surface oxide area encountered significant mineralization including a 195 foot interval in hole GM-88 which averaged 0.035 ounces per ton gold (opt Au) and 0.527 ounces silver per ton (opt Ag), including a 10 foot interval from 140 to 150 feet that averages 0.223 opt Au and 14.24 opt Ag. The results for these holes met or exceeded the Company's expectations and supports continuity of high grade gold zones within Independence Surface Oxide gold deposit.
Table 1 below summarizes the significant intercepts contained in holes GM 85, 86, 87 and 88.
Table 1
Significant Drill Intercepts
Drill Hole From (ft) To (ft) Length opt Au opt Ag
GM-85 25 40 15 0.034 0.298
Also 75 175 100 0.013 0.269
GM-86 0 120 120 0.015 0.303
including 65 85 20 0.022 0.298
GM-87 0 75 75 0.014 0.308
Also 100 115 15 0.023 1.372
GM-88 95 290 195 0.035 0.527
Including 95 110 15 0.069 0.462
Including 140 150 10 0.223 14.24
Based on sample geochemistry and geology, the gold and silver mineralization in drill hole GM 88 appears to be a continuation of the high grade mineralization encountered in hole GM-52, situated approximately 100 feet to the south, ,containing gold and silver mineralization averaging 0.096 opt Au and 51.72 opt Ag over the 20 foot interval from 75 to 95 feet. Mineralized intercepts in drill holes GM 68, 69, and 70, (NR dated September 9, 2008 and October 23, 2008) situated 100 feet north of GM-88, also support continuity of a higher grade gold-silver mineralization area in the Hill Zone.
The 2009 Hill Zone fill-in drill program objectives are:
Confirm continuity of high grade gold silver zones within the deposit -- Move all of the Hill Zone gold-silver mineralization into Measured and Indicated categories -- Provide greater drill hole density to facilitate pit and detailed mine design
Management believes continued results such as these from this drill program, and the anticipated results from metallurgical column testing currently underway at McClelland Labs in Reno, Nevada, will allow the Company to upgrade the Measured and Indicated resource categories to Proven and Probable Mineable Reserves, as it moves the project forward to Feasibility and Production.
Excellent metallurgy of 84.3 % gold recovery, as reported in the Company's press release dated October 5, 2009, low apparent strip ratio and higher than average grade all make the Hill Zone the best location for a conceptual "starter pit". Management believes the Hill Zone will allow the Company to initiate mining on high grade mineralization that will accelerate pay back of its capital investment, thereby increasing potential for future profitability of the Company.
Drift Exploration is providing drilling services and all samples are being submitted to American Assay of Reno, Nevada for analytical services. In keeping with the Company's practice of following industry accepted "best practices", drilling is sampled in five (5) foot intervals. The Company inserts a series of Standards, blanks and Certified Reference materials at a rate of approximately 1 in 30, as it has in the past for Quality Assurance - Quality Control.
Further details regarding the Independence mineralization, drilling efforts, both historical and current together with current permitting activity are available on the Company's website 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 of Nevada where the Company recently announced CNI 43-101 compliant resources containing in excess of one million ounces of gold and 3.8 million ounces of silver. Permitting and Engineering for our proposed heap leach production is underway at the Independence Mine.
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.