GEONOVUS MINERALS CORP. ("GeoNovus" or the "Company") is pleased to announce the completion of a gravity survey at the Red Hills porphyry copper project in south central Arizona. The Company (through operator Bronco Creek Exploration, Inc.) engaged Zonge International, Inc. (Tucson, Arizona) to collect gravity data to better define the subsurface structure and depth to mineralization at Red Hills.
In late 2012, drilling confirmed the presence of a fault-displaced portion of a porphyry system under sedimentary cover with an average of 0.18% Cu intercepted over 104.2 meters, including two separate intercepts of 0.39% Cu over 9.75 meters and 0.42% Cu over 11.8 meters, respectively (see news release, September 15th, 2012). The results suggested that additional areas on the western portion of the property should be targeted for drilling, and the gravity survey was designed to better define those areas.
Roughly 20 line-km of gravity data were collected along two east-west lines that parallel a historical 10-kilometer gravity line that passes through the property. With the gravity data collection phase complete, the results including the historical data will be interpreted over the next several days. Permitting for new drill sites is also nearing completion and drilling of a selection of those sites is expected to commence in Q1 of 2013.
The technical contents of this release were reviewed by Dr. Tom E. McCandless, P. Geo., Technical Advisor to GeoNovus Minerals and qualified person as defined by National Instrument 43-101.
GeoNovus has an option agreement with Inmet Mining Corp. to explore the Red Hills porphyry copper project, with GeoNovus holding its interest under a mining lease agreement with Eurasian Minerals Inc. through its wholly-owned subsidiary Bronco Creek Exploration, Inc. ('Bronco Creek'). Eurasian Minerals (through Bronco Creek) has acted as manager for the work programs at Red Hills.
GeoNovus Minerals Corporation (TSX VENTURE:GNM) is a junior exploration company actively seeking mineral and energy development opportunities for the benefit of all our stakeholders, with three active porphyry copper exploration projects in Arizona.
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 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