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GeoNovus Encounters Copper-Molybenum Mineralization at Silver Bell West Porphyry Copper Project, Arizona
By: Marketwired .
Jan. 22, 2013 04:16 PM
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 01/22/13 -- GEONOVUS MINERALS CORP. (TSX VENTURE:GNM) ("GeoNovus" or the "Company") is pleased to provide a drilling update at the Company's Silver Bell West porphyry copper property in south central Arizona. The first drill hole has encountered hydrothermally altered granite and chalcopyrite-molybdenite-pyrite mineralization continuously to its present depth of 309 meters (1014 ft.), including an average of 2.1% by volume total sulphide starting at 122 meters (400 ft.) and extending over 100 meters (330 ft.), based on visual estimates. Preparation of the core for assay will begin shortly with results expected in the coming weeks.
The present drill hole is located just south of the haul road and oriented at an azimuth of N42.5E at an inclination of 60 degrees. Two drill holes are planned in the present program (see GeoNovus news release, January 9th, 2013). The drill site locations relative to the Silver Bell Mine and other data can be seen on the company website www.geonovusminerals.com.
The Silver Bell West claims cover portions of the Silver Bell Mine haul road owned by ASARCO. Silver Bell Mine began operations in 1954 and produced 46.3 million pounds of high-purity copper cathodes in 2010 ('ASARCO mining giant notching 100 years of operation in AZ'; Arizona Daily Star, March 4, 2012).
The Silver Bell West property is under lease from Bronco Creek Exploration (see Geo Minerals News Release August 27, 2009), a wholly-owned subsidiary of Eurasian Minerals Inc. (NYSE MKT:EMXX)(TSX VENTURE:EMX).
The technical contents of this release were approved by Dr. Tom E. McCandless, P. Geo., Technical Advisor to GeoNovus Minerals and qualified person as defined by National Instrument 43-101.
GeoNovus Minerals Corporation (TSX VENTURE:GNM) is a junior exploration company actively seeking mineral development opportunities for the benefit of all our stakeholders, with three active porphyry copper exploration projects in Arizona.
Eurasian Minerals Inc. (NYSE MKT:EMXX)(TSX VENTURE:EMX) is a global gold and copper exploration company utilizing a partnership business model to explore the world's most promising and underexplored mineral belts. EMX generates wealth via grassroots prospect generation, strategic acquisition, and royalty growth.
ON BEHALF OF THE BOARD
Michael England, President
Some of the statements in this news release contain forward-looking information that involves inherent risk and uncertainty affecting the business of GeoNovus Minerals Inc. Actual results may differ materially from those currently anticipated in such statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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