General Minerals Expands Mineral Holdings and Defines Large Geophysical Anomaly at the Markham Wash Copper-Gold Porphyry Project Near Safford, Arizona.
The GMC Markham Wash project area lies within the western extension of the mineral belt containing all of these deposits. Markham Wash holds many geologic similarities to the neighboring lands containing the known porphyry copper deposits, though much of the area is masked by post mineral volcanic and alluvial cover. GMC has completed a Self Potential ("SP") geophysical survey totaling over 93 line kilometres. The survey was designed to detect areas of sulfide mineral concentrations within the expanded land position as well as on the original holdings. To date, the survey has detected three high priority anomalies. These SP anomalies total approximately four square kilometres in area and are interpreted as representing sulphide mineralization related to a porphyry copper system. Prior exploration, including drilling in the Markham Wash area, does not appear to have tested these targets as defined by GMC.
Further exploration by GMC with independent third party consultants include biotite geochemistry studies and thin section petrographic work. The samples for these studies were taken from an exposed porphyry intrusive located near the geophysical anomalies. Results from these studies suggest that the intrusive has significant potential to be associated with a productive porphyry copper system. Historical studies have shown that the mineral biotite has a distinct elemental composition when associated with productive porphyry systems; similarly, the character and type of minerals in the intrusive can also be used as a gauge of the likelihood of the intrusive being related to a copper bearing porphyry system.
Typically, the copper deposits within the US southwest have the type of spatial relationships which GMC has detected from the SP survey with mineralization occurring within and around the edges of porphyry intrusives of Laramide age. These observations and conclusions further support the target being developed by GMC of a buried porphyry copper system.
With the acquisition of the additional lands at the Markham Wash project, GMC now has two significant land holdings adjacent to major Arizona porphyry copper deposits: Markham Wash in proximity to several Phelps Dodge properties and the Monitor property. The Monitor property is located only 1,400 metres from Grupo Mexico's (Asarco) Ray porphyry copper mine, the second largest producing copper mine in Arizona. Both the Markham Wash and Monitor properties are located on well defined mineral trends which are receiving significant exploration activity from major companies as the price of copper continues to remain strong. GMC is currently showing these properties to prospective joint venture partners.
Mr. Ralph Fitch, President of General Minerals Corporation, is the Qualified Person on the Project as set out by the Toronto Stock Exchange Disclosure Standards and National Instrument 43-101. Mr. Fitch was assisted by Mr. Randall Moore, Prof. Geol. and US Exploration Manager and Dr. Jacob Skokan, Chief Geophysicist.
General Minerals Corporation (TSX:GNM)
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|Date:||Dec 1, 2004|
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