General Minerals Corporation Vizcachitas Drilling Results.DENVER--(BUSINESS WIRE)--Jan. 13, 1998--General Minerals Cor(TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :GNM GNM General Nursing and Midwifery GNM Gaussian Network Model GNM Generic Network Model GNM Good News Mission GNM Gateway Node Monitor GNM Ground Nautical Miles .) Westmin Resources Limited (Westmin) and General Minerals Corporation (GMC GMC See: Guaranteed Mortgage Certificate ) are pleased to announce the first diamond drill results subsequent to the conclusion of the Vizcachitas Joint Venture on October 8, 1997. The Vizcachitas copper/molybdenum porphyry Porphyry, Greek scholar Porphyry (pôr`fĭrē), c.232–c.304, Greek scholar and Neoplatonic philosopher. He studied rhetoric under Cassius Longinus and philosophy under Plotinus. project is located close to good infrastructure, 130 km north of Santiago, Chile Santiago, officially Santiago de Chile (Spanish: (helpinfo)), is the capital of Chile, and the center of its largest conurbation (Greater Santiago). . The results from the first six drill holes indicate that mineralization Mineralization The process by which the body uses minerals to build bone structure. Mentioned in: Rickets mineralization, n the bioprecipitation of an inorganic substance. extends substantially beyond the boundaries included in the earlier resource estimate (GMC - PR97-14, September 29, 1997), and that higher grade primary mineralization is more extensive than earlier believed. A table of drill results follows. Six diamond drill holes have been completed in the southern portion of the known porphyry system, including one 535 metres further south than the most southerly drill hole (V3) included in the earlier resource estimate. The core samples were analyzed by ACME Laboratories Acme Laboratories is the home page for a number of open source software products written and maintained by Jef Poskanzer. Major projects maintained at ACME include pbmplus and thttpd. and checked by CIMM CIMM Canadian Institute of Mining and Metallurgy CIMM Centro de Informação Metal Mecânica (Brazil) CIMM Commodity Integrated Material Manager CIMM Configuration; Installation; and Maintenance Manual Laboratories, both of Santiago, Chile. The correlation coefficient Correlation Coefficient A measure that determines the degree to which two variable's movements are associated. The correlation coefficient is calculated as: between the copper assays from the two laboratories is 0.97. Three holes significantly extended the southern boundary of the reported resource estimate. Hole V31, located 535 metres south of drill-hole V3, intersected low copper grades in pyrite pyrite (pī`rīt) or iron pyrites (pīrī`tēz, pə–, pī`rīts), pale brass-yellow mineral, the bisulfide of iron, FeS2. halo material and represents the southern limit of the copper-bearing portion of the system at this location. Hole V32, 300 metres south-southwest of V3, intersected good primary mineralization grades (114.1 metres of 0.64 percent copper and 0.012 percent molybdenum molybdenum (məlĭb`dənəm) [Gr.,=leadlike], metallic chemical element; symbol Mo; at. no. 42; at. wt. 95.94; m.p. about 2,617°C;; b.p. about 4,612°C;; sp. gr. 10.22 at 20°C;; valence +2, +3, +4, +5, or +6. ) within previously unidentified breccia breccia: see conglomerate. breccia Coarse sedimentary rock consisting of angular or nearly angular fragments larger than 0.08 in. (2 mm). Breccia commonly results from processes such as landslides or geologic faulting, in which rocks are fractured. bodies. In other parts of the property, high-grade secondary enrichment copper mineralization has been found overlying overlying suffocation of piglets by the sow. The piglets may be weak from illness or malnutrition, the sow may be clumsy or ill, the pen may be inadequate in size or poorly designed so that piglets cannot escape. high-grade primary mineralization. This relationship will be tested by future drilling in this location. V33, located 150 metres northeast of V32, intersected moderate grade secondary enrichment and good primary mineralization (229.2 metres of 0.50 percent copper and 0.011 percent molybdenum). The hole did not intersect the high-grade breccias seen in V32, which are believed to be located further west. The three other holes were drilled in the central-west area of the previous resource. Hole V28, located 120 metres south-southwest of V18, intersected higher grade primary mineralization (50.8 metres of 0.57 percent copper and 0.007 percent molybdenum) beneath river gravel River gravel are small pieces of rounded stone, usually no larger than a large coin, of a various colors. It is named for the effect of many years of rounding of the edges due to a flow of water over it. . Hole V29, located 110 metres north of V23, intersected minor enrichment and moderate grade primary mineralization and 250 metres southeast of V23, hole V30 intersected oxide copper mineralization below slide material (37.6 metres of 0.48 percent copper and 0.021 percent molybdenum). This hole, which is outside of the boundary reported in the earlier estimate, is the first example of oxide copper mineralization found at Vizcachitas. Further drilling will be required to ascertain the economic significance of the oxide mineralization. Several more holes will be drilled in the southeast sector before the drill-rig is moved to the northwest sector to explore for further extensions to mineralization. At present, the northern limit is open, with the most northern hole 1.8 km to the north of V31. Drilling stopped on December 20th and is expected to restart by January 15th with approximately 20 more holes planned. -0-
Table of Diamond Drill Results
Drill Hole From To Length in Metres Copper% Molybdenum%
V28 0 57.6 57.6 Overburden Overburden
57.6 108.4 50.8 0.57 0.007
108.4 173.1 64.7 0.41 0.010
173.1 252.7 79.6 0.31 0.014
V29 0 1.9 1.9 Overburden Overburden
1.9 22.3 20.4 0.12 0.005
22.3 38.4 16.2 0.35 0.003
38.4 65.5 27.1 0.19 0.005
65.5 119.6 54.1 0.44 0.023
119.6 147.0 27.4 0.28 0.020
147.0 206.0 59.0 0.35 0.026
206.0 251.6 45.7 0.28 0.036
V30 0 43.9 43.9 Overburden Overburden
43.9 115.1 71.2 0.09 0.033
115.1 121.9 6.8 0.88 0.028
121.9 129.5 7.6 0.03 0.001
129.5 132.0 2.5 1.13 0.044
132.0 136.7 4.8 0.24 0.031
136.7 174.3 37.6 0.48 0.021
V31 0 226.9 226.9 Low grade Low grade
V32 0 50.0 50.0 Overburden Overburden
50.0 70.2 20.2 0.36 0.010
70.2 99.4 29.2 0.50 0.009
99.4 244.4 145.0 0.33 0.009
244.4 358.5 114.1 0.64 0.012
Including
244.4 266.7 22.3 0.53 0.010
266.7 280.6 13.9 0.32 0.009
280.6 336.7 56.1 0.68 0.013
336.7 358.5 21.8 0.83 0.014
V33 0 4.8 4.8 Overburden Overburden
4.8 54.6 49.8 0.32 0.008
54.6 283.8 229.2 0.50 0.011
283.8 415.1 131.27 0.29 0.012
Westmin is a Canadian mining company producing zinc, copper and gold concentrates at its Myra Falls Operations on Vancouver Island Vancouver Island (1991 pop. 579,921), 12,408 sq mi (32,137 sq km), SW British Columbia, Canada, in the Pacific Ocean; largest island off W North America. It is c.285 mi (460 km) long and c. , and copper concentrates and cathode from the Gibraltar Mine in south central British Columbia British Columbia, province (2001 pop. 3,907,738), 366,255 sq mi (948,600 sq km), including 6,976 sq mi (18,068 sq km) of water surface, W Canada. Geography . Westmin anticipates very significant copper cathode production from its long-life, low-cost, SX-EW project at Lomas Bayas, Chile, which is scheduled to start up in June 1998. GMC is an international exploration company formed for the acquisition, exploration and development of mineral resources Noun 1. mineral resources - natural resources in the form of minerals natural resource, natural resources - resources (actual and potential) supplied by nature , primarily copper and gold. The Company is currently exploring properties in South America (Chile, Peru, Bolivia), the U.S. and China. The Vizcachitas and Escalones porphyry copper prospects are currently GMC's priority projects. Work will begin shortly at Escalones with the return of the exploration season in central Chile. Vizcachitas location and drill hole maps are available upon request. CONTACT: Westmin Resources Limited Bruce McKnight, 604/895-8408 604/ 681-0357 (FAX) E-mail: vancouver@westmin-resources.com Web Page: http://www.westmin-resources.com or General Minerals Corporation Richard Doran, 303/863-7934 303/ 863-7965 (FAX) E-mail: ddoran@orci.com Web Page: http://www.genmin.com |
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