By locating near Newmont’s Phoenix General Metals has increased its potential for productivity.
Nevada is a big play for General Metals and it has three targets.
General Metals has produced The Carrington Report which describes the potential for the the targets in Nevada.
North Target
The North target is a shallow low grade occurrence situated on the north end of the property approximately 1,200 ft SE of Newmont’s Sunshine mine. Target is based on 11 drill holes with a nominal spacing of 380 ft defining a mineralized area approximately 1000 ft by 470 ft. Gold mineralization occurs in a granitic host rock and extends from the surface to 250 ft. Averaged gold intercepts values range from 0.01 opt to 0.026 opt and mineralization is open to the north, east, south and at depth.
Independence Target
The Independence target is situated adjacent to and including the old Independence mine workings. The target is defined by 21 drill holes within Gold mineralization occurs within thin bedded cherts and argillites of the Pumpernickel Formation. Mineralization extends from surface to 360 ft and averaged gold intercept values range from 0.01 opt to 0.26 opt.
Wilson Deep Target
The Wilson Deep mineralization is stratigraphicly beneath the Independence mine in the lower plate of the Golconda Thrust. Between 1985 and 1989 Noranda Exploration drilled six deep core holes (IND-1, IND-2 and IND –4 through 7) that intercepted gold bearing skarn mineralization hosted in the Battle Formation units of the Antler sequence. Later, Great Basin Gold drilled two deep holes (WI-1 & WI-2), also intercepting gold in skarns. Gold mineralization in the deep zones occurs between 2,000 and 3,340 ft depth. Averaged gold intercepts range from 0.073 opt to 0.431 opt. Gold ore minerals consist of gold, electrum and iliianite.
Newmont Mining’s ratings were increased this week partially on the production potential for the Phoenix Mine. General Metals in locating near Newmont’s Phoenix Mine in Nevada and in Ghana near Newmont’s Mikite Gold Resources (”Mikite”)for gold, diamonds and base metals has positioned itself for incredible prosperity. These locations follow the traditional wisdom in mining by locating in close proximity to the best producing mine available and that is precisely what General Metals has done.
Contact:
General Metals Corporation
Steve Parent, CEO, 775-686-6078
775-721-6428 (cell)
generalmetals@hotmail.com
Source: General Metals and Barrons
General Metals Corporation
1 E. Liberty St. Suite 6000
Reno, NV 89501
Phone: (775) 686-6078
Website: http://www.stockguru.com/blog/www.generalmetalscorporation.com%20
Forward Looking Statements: This 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, any future metal price forecasts, any future performance and any reserves they have reported in their Phoenix Mine or any reserve estimates.
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 2006 fiscal year, our quarterly reports on Form 10-QSB and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
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