[Marinir] {Disarmed} Inmet (TSX: $42) to Drill GeoNovus (10 Cents) Red Hills Copper Property
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Thu Jun 21 18:00:14 CEST 2012
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http://www.geonovusminerals.com/
GeoNovus Begins Drilling Program at Its Red Hills Porphyry Copper
Project, Arizona
GeoNovus Minerals Corp. (TSX-V: GNM
http://www.stockwatch.com/Quote/Detail.aspx?action=go&symbol=GNM®ion=C&lookup=symbol&snapshot=default
) is pleased to announce the start of its drilling program at the Red
Hills porphyry copper property in south central Arizona. The drilling
will test for the presence of a fault-displaced portion of the Red Hills
porphyry system under sedimentary cover in the western part of the
property position.
Drilling on the western part of the property was initially conducted in
2008. At that time, the RC drill hole RH-2 intersected what are believed
to be Tertiary sedimentary rocks near the bottom of the hole containing
clasts with intense porphyry-related alteration and local copper
mineralization. Drill hole RH-2 was terminated at 622 m due to excess
water. The upcoming program will re-enter RH-2 and continue the drill
hole with core to intersect underlying bedrock and target rocks.
In 2011, drilling on the eastern part of the property followed by a
second induced polarization ("IP") geophysical survey by Zonge
International, Inc, indicated that alteration and mineralization
observed was likely structurally-controlled and peripheral to the main
part of the porphyry system, further indicating the main part of the
system lay to the west toward RH-2.
The technical contents of this release were approved by Dr. Tom E.
McCandless, P. Geo., Technical Advisor to Geo Minerals and qualified
person as defined by National Instrument 43-101.
GeoNovus has an option agreement with Inmet Mining Corp. (TSX: INM) to
explore the Red Hills porphyry copper project, with GeoNovus holding its
interest under a mining lease agreement with Eurasian Minerals Inc. (TSX
VENTURE:EMX) through its wholly-owned subsidiary Bronco Creek
Exploration Inc. Eurasian Minerals has acted as manager for the work
programs at Red Hills.
Eurasian Minerals Inc. (TSX VENTURE: EMX) (NYSE MKT: EMXX) 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 currently has project interests in ten countries on four
continents, and generates wealth via grassroots prospect generation,
strategic acquisition, and royalty growth.
Inmet Mining Corporation (TSX: IMN) is a Canadian-based global mining
company that produces copper, and zinc, with operations in Turkey,
Finland, 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 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.
Contact Information
GeoNovus Minerals Corp.
Michael England
President
1-604-683-3995 or Toll Free: 1-888-945-4770
1-604-683-3988 (FAX)
http://www.geonovusminerals.com
http://www.geonovusminerals.com
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