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04.01.2010
General Metals Releases Additional Favorable Drill Results Including 145 Feet Grading 0.020 opt Au and 0.26 opt Ag from Surface
General Metals Releases Additional Favorable Drill Results Including 145 Feet Grading 0.020 opt Au and 0.26 opt Ag from Surface
RENO, NV, Jan 04,
General Metals Corporation (the "Company") (OTCBB: GNMT) (FRANKFURT: GMQ-1), is pleased to announce additional favorable results for Hill Zone delineation drilling in holes GM 95 and 99 drilled on Section 4000 North at the Company's Independence Gold - Silver Property. These holes enhance the definition of high grade mineralization in the Hill Zone and are an integral part of the Company's plans to achieve near term production at the Company's Independence Mine. Management continues to be pleased with the results of this drilling and notes that virtually all holes drilled for which the Company has received assays, have encountered significant, presumably economic near surface oxide mineralization.
The mineralization in GM-95 and 99 is completely oxidized and had gold recoveries of 84% in hole 95 and 93% in hole 99 in bottle roll tests over 96 hours.
At this time 38 of the planned 44 fill-in drill holes have been completed for a total of 10,300 feet of RVC drilling. Further assays will be published when available.
Table 1 below summarizes the results for holes GM 95 and 99 both on Section 4000 North.
Table 1
Significant Drill Intercepts
Drill Hole From (ft) To (ft) Length opt Au opt Ag
GM-95 0 90 90 0.01 0.33
GM-99 60 195 135 .020 0.264
Including 115 140 25 0.044 1.49
These holes encountered targeted mineralization as projected by the Company's consultants. Drill hole GM-95 was drilled approximately 46 feet from historic drill hole 4505 drilled by Battle Mountain Gold Company which showed only scattered short intervals of mineralization within the near surface mineral target. Hole GM-95 more than tripled the length of the mineralized intercept in the target zone over that indicated in historic drilling and resulted in one continuous 90 foot intercept from surface rather than disconnected 10 foot intervals as indicated in historic drilling.
Drill hole GM-99 was drilled 125 feet west of GM95 and was drilled to complete hole GM-81 which was lost due to difficult drilling conditions in 2008. This hole encountered a large, 135 foot intercept of mineralization and a higher grade 25 foot core over the interval from 115 to 140 feet which importantly confirms continuity of high grade mineralization encountered by the company on Sections 3800 and 4200 North in its 2007-2008 drill program. Establishing continuity of high grade mineralization is an important function of this drill program and will permit more high grade mineralization to be modeled in the ensuing resource models and mine plan which should result in higher average grades. The density of data being established by the current drilling will enable the Company to increase the quantity Measured and Indicated resources in the Hill Zone.
This 2009 drilling is designed with two specific objectives, namely to include substantially all mineralization in the Hill Zone into Measured and indicated categories, and augment the detailed mine planning for a high grade "Starter Pit" on which to initiate mining operations at Independence. As the Company moves forward into Feasibility and Production, these Measured and Indicated resource categories will become Proven and Probable Mineable Reserves, and the presence of an highly defined starter pit will allow the Company to initiate mining on high grade mineralization and achieve rapid pay back of its capital investment, which typically results in much higher future profitability for 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 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
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RENO, NV, Jan 04,
General Metals Corporation (the "Company") (OTCBB: GNMT) (FRANKFURT: GMQ-1), is pleased to announce additional favorable results for Hill Zone delineation drilling in holes GM 95 and 99 drilled on Section 4000 North at the Company's Independence Gold - Silver Property. These holes enhance the definition of high grade mineralization in the Hill Zone and are an integral part of the Company's plans to achieve near term production at the Company's Independence Mine. Management continues to be pleased with the results of this drilling and notes that virtually all holes drilled for which the Company has received assays, have encountered significant, presumably economic near surface oxide mineralization.
The mineralization in GM-95 and 99 is completely oxidized and had gold recoveries of 84% in hole 95 and 93% in hole 99 in bottle roll tests over 96 hours.
At this time 38 of the planned 44 fill-in drill holes have been completed for a total of 10,300 feet of RVC drilling. Further assays will be published when available.
Table 1 below summarizes the results for holes GM 95 and 99 both on Section 4000 North.
Table 1
Significant Drill Intercepts
Drill Hole From (ft) To (ft) Length opt Au opt Ag
GM-95 0 90 90 0.01 0.33
GM-99 60 195 135 .020 0.264
Including 115 140 25 0.044 1.49
These holes encountered targeted mineralization as projected by the Company's consultants. Drill hole GM-95 was drilled approximately 46 feet from historic drill hole 4505 drilled by Battle Mountain Gold Company which showed only scattered short intervals of mineralization within the near surface mineral target. Hole GM-95 more than tripled the length of the mineralized intercept in the target zone over that indicated in historic drilling and resulted in one continuous 90 foot intercept from surface rather than disconnected 10 foot intervals as indicated in historic drilling.
Drill hole GM-99 was drilled 125 feet west of GM95 and was drilled to complete hole GM-81 which was lost due to difficult drilling conditions in 2008. This hole encountered a large, 135 foot intercept of mineralization and a higher grade 25 foot core over the interval from 115 to 140 feet which importantly confirms continuity of high grade mineralization encountered by the company on Sections 3800 and 4200 North in its 2007-2008 drill program. Establishing continuity of high grade mineralization is an important function of this drill program and will permit more high grade mineralization to be modeled in the ensuing resource models and mine plan which should result in higher average grades. The density of data being established by the current drilling will enable the Company to increase the quantity Measured and Indicated resources in the Hill Zone.
This 2009 drilling is designed with two specific objectives, namely to include substantially all mineralization in the Hill Zone into Measured and indicated categories, and augment the detailed mine planning for a high grade "Starter Pit" on which to initiate mining operations at Independence. As the Company moves forward into Feasibility and Production, these Measured and Indicated resource categories will become Proven and Probable Mineable Reserves, and the presence of an highly defined starter pit will allow the Company to initiate mining on high grade mineralization and achieve rapid pay back of its capital investment, which typically results in much higher future profitability for 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 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:
<a href="http://www.irw-press.com/alert_subscription.php?lang=en&isin=US3703042065">http://www.irw-press.com/alert_subscription.php?lang=en&isin=US3703042065</a>
Mitteilung übermittelt durch IRW-Press.com. Für den Inhalt ist der Aussender
verantwortlich.
Kostenloser Abdruck mit Quellenangabe erlaubt.