Feb 15 2011
GEO MINERALS LTD. (TSX VENTURE:GM)(FRANKFURT:8G3) has announced the completion of an initial drill test of one IP geophysical anomaly on a portion of its Red Hills porphyry copper property in south central Arizona.
A single vertical RC hole drilled to test this anomaly encountered variably altered and mineralized rocks before termination of the hole at 610 meters (2,000 feet). This follows directly on positive results at Middle Mountain, Arizona, where drilling encountered 154 meters (505 feet) of altered granitic porphyry rocks with sulfides, or oxides after sulfides (see news release, Jan. 17, 2011). Based on the correspondence of the deep induced polarization (IP) anomaly with alteration and mineralization at depth in the Red Hills drilling, additional IP geophysics is planned in order to direct the next phase of drilling.
The Red Hills porphyry copper project is located in a southwest-trending belt of porphyry-copper mineralization that includes operating mines such as Ray, Copper Cities, Miami-Inspiration, Carlotta, and the Resolution deposit that is presently under pre-feasibility assessment by Rio Tinto. Drilling at Red Hills in 2009 included an intersection of exotic copper oxide mineralization (see news release, Jan. 8, 2009), and a geophysical survey completed in 2010 identified three separate IP anomalies that led to the acquisition of 31 additional claims totaling 253 hectares (see news release, May 11, 2010). The present drilling program completed a vertical RC drill hole on one anomaly for a total of 610 meters (2,000 feet).
Bedrock was intersected at 10 meters (~35 feet) consisting of coarse-grained granite with local porphyry dikes and some granitic rocks with textures consistent with Laramide age granites associated with porphyry copper deposits in the region. In the upper part of the drill hole, these rocks were generally weakly altered with local chlorite + sericite altered zones with primary iron-oxide + quartz ± oxidized chalcopyrite + pyrite veins. The iron-oxide alteration increased at depth, particularly below ~550 meters (~1800 feet) where alteration characterized by quartz + sericite + pyrite was also encountered, with locally pervasive intervals containing as much as 5% disseminated pyrite below about 580 meters (~1900 feet). These alteration assemblages continued to the end of the hole at 610 meters (2000 feet). The styles of alteration and locally abundant pyrite mineralization is suggestive that a structural block containing peripheral, shallow styles of porphyry mineralization was encountered at depth, providing additional evidence that one or more porphyry centers have been dismembered across the property.
Based on these results, further IP profiles are planned in order to determine where additional drill holes should be placed to intersect better mineralized portions of the system. Representative samples of the lithologies will also be assayed with results expected in the coming weeks.
"We are very encouraged by these results, in particular, that the IP geophysics does appear to correlate with alteration and mineralization suggestive of a buried porphyry system at Red Hills," states Michael England, CEO of Geo Minerals. "Both the Red Hills and Middle Mountain projects are conceptual porphyry copper plays, and these positive results give both projects credibility."
GEO has an option agreement with Inmet Mining Corp. (TSX:INM) to explore the Red Hills porphyry copper project, with GEO holding its interest under a mining lease and option agreement with Eurasian Minerals Inc. (TSX VENTURE:EMX) through its wholly-owned subsidiary Bronco Creek Exploration (see news release, Nov. 17, 2009). Eurasian Minerals is acting as manager for the work programs at Red Hills.
The technical contents of this release were approved by Technical Advisor to Geo Minerals and qualified person as defined by National Instrument 43-101, Dr. Tom E. McCandless, P. Geo.
Source: GEO MINERALS LTD.