Printer Friendly

General Minerals Corporation Identifies Significant Silver Anomaly at Malku Khota, Bolivia.

VANCOUVER, British Columbia -- General Minerals Corporation ("GMC") (TSX:GNM) is pleased to announce that it has completed the first phase of exploration at the Malku Khota Silver Project, located in west central Bolivia in the Department of Potosi. The Company announced the acquisition of the Malku Khota silver-gold property in September, 2003 (see GMC PR03-09 September 24, 2003).

The Company has completed the initial reconnaissance of its 4,125 hectare property which has included geological mapping and the collection of 1,055 chip samples across the silver-bearing Atocha and Condoriquina sandstones. These chip samples have been taken on a series of 30 long lines across the width of the sandstone units, each line being between 50 and 800 metres apart, covering approximately a 15 kilometre length of the sandstone units. This work has resulted in the definition of an area of approximately 3,500 metres long by 800 metres wide which includes anomalous silver, gold, bismuth and base metal values in continuous chip samples. Within this area there is a well defined zone of 3,450 metres by 263 metres in which anomalous silver values of approximately half to one ounce per tonne have been found over significant widths of continuous chip sampling. This zone is also cut by approximately 50 cross-cutting gold-bismuth veins.

The results are considered significant since similar results at the Atocha Project, 30 kilometres along strike to the north, were often associated with much higher grade silver mineralization at depth. Silver is easily leached from the surface rocks so only low values are expected at surface. Any values greater than 1 to 2 gpt in the sandstone are anomalous and may represent higher grades in the un-leached rock a few metres below the surface. The Atocha Project was sold to Esperanza Silver Corporation in 2003. At Atocha GMC found widths of several metres of anomalous sandstone at surface which lead to the discovery of grades of greater than 500 gpt silver subsurface. At Malku Khota the Company has identified widths of up to 263 metres with anomalous silver over a strike length of 3,450 metres. These surface results, such as 228 metres of 40 gpt silver, are interpreted as indications that at Malku Khota silver mineralization is disseminated throughout a large thickness of the Atocha and Condoriquina sandstone units over a substantial strike length and that important higher grade mineralization may start just a few metres down immediately beneath the location of the channel samples.

The following table lists the averaged results from the anomalous silver zone:
---------------------------------------------------------------------
Sample Distance Width Silver Antimony Comment
Line Between Metres Grade Grade
 Sample gpt Gpt
 Lines
---------------------------------------------------------------------
93050 200 18 188 Includes: 4 m @ 133
 gpt Ag
---------------------------------------------------------------------
 300
---------------------------------------------------------------------
92850 47 63 295 Includes: 13 m @ 128
 gpt Ag
---------------------------------------------------------------------
 300
---------------------------------------------------------------------
92550 228 40 288 Includes: 30 m @ 170
 gpt Ag
---------------------------------------------------------------------
 250
---------------------------------------------------------------------
92375 52 24 128
---------------------------------------------------------------------
 200
---------------------------------------------------------------------
92200 54 4 27 Includes 2.5 m @ 13
 gpt Ag
---------------------------------------------------------------------
 450
---------------------------------------------------------------------
Mf 19 14 55 Includes 5.5 m @ 29
 gpt Ag
---------------------------------------------------------------------
 350
---------------------------------------------------------------------
91600 63 7 25 Includes 20 m @ 10
 gpt Ag
---------------------------------------------------------------------
 500
---------------------------------------------------------------------
91200 50 11 16
---------------------------------------------------------------------
 350
---------------------------------------------------------------------
90990 70 21 98
---------------------------------------------------------------------
 100
---------------------------------------------------------------------
Ma1 - 16 314 990 Includes: 2 m @
 c1 1,160 gpt Ag
---------------------------------------------------------------------
 50
---------------------------------------------------------------------
90870 69 40 270
---------------------------------------------------------------------
 100
---------------------------------------------------------------------
90750 48 26 139 Includes: 13 m @ 50
 gpt Ag which
 includes 2 m @ 131
 gpt Ag
---------------------------------------------------------------------
 500
---------------------------------------------------------------------
90300 263 11 11 Includes: 2 m @ 108
 gpt Ag; & 4 m @ 61
 gpt Ag; & 3 m @ 73
 gpt Ag
---------------------------------------------------------------------



As at Atocha these anomalous silver values are also associated with anomalous values in lead, copper, zinc, antimony and bismuth.

The following table lists twenty four cross-cutting gold veins located in the central part of the property located between the sample lines 91600 and 92200:
---------------------------------------------------------------------
Samples Number Width (m) Gold (gpt) Lead (%) Antimony Bismuth
 (ppm) (ppm)
---------------------------------------------------------------------
 greater
78548 + 78549 1.1 9.5 0.1 238 than 10,000
---------------------------------------------------------------------
 greater
Includes 78548 0.3 33 0.15 714 than 10,000
---------------------------------------------------------------------
78591 0.75 3.8 1.2 1215 3720
---------------------------------------------------------------------
 greater
78800 + 78801 1.8 1.5 0.6 1484 than 10,000
---------------------------------------------------------------------
77820 0.75 2 0.3 6640 5580
---------------------------------------------------------------------
 greater greater
78550 + 78551 1 5.1 0.03than 10,000 than 10,000
---------------------------------------------------------------------
 greater greater
Includes 78550 0.4 12.9 0.05than 10,000 than 10,000
---------------------------------------------------------------------
78546 1 6.5 0.1 667 550
---------------------------------------------------------------------
78783 + 78784 1.7 3 0.4 685 4,676
---------------------------------------------------------------------
Includes 78783 0.8 5.5 0.5 868 6,850
---------------------------------------------------------------------
78781 + 78782 1.6 1.1 0.4 356 4,489
---------------------------------------------------------------------
78540 + 78541 3.6 1.6 0.3 129 493
---------------------------------------------------------------------
Includes 78540 1.2 4.6 0.6 254 1,045
---------------------------------------------------------------------
 greater
78536 + 78537 2.3 1.3 0.4 713 than 10,000
---------------------------------------------------------------------
 greater
Includes 78536 0.7 3.9 0.9 1,735 than 10,000
---------------------------------------------------------------------



Further north, in an area between the sample line 92375 and 92550, a 90 metre wide zone contains a number of high grade silver veins:
---------------------------------------------------------------------
Samples Width (m) Gold Silver Lead (%) Bismuth (gpt) Antimony
Numbers (gpt) (gpt) (gpt)
---------------------------------------------------------------------
 greater greater
78593 0.65 5 1455 0.6 than10,000 than 10,000
---------------------------------------------------------------------
 greater greater
78598 0.7 0.4 1070 0.7 than 10,000 than 10,000
---------------------------------------------------------------------
78597 0.7 0.6 830 0.4 5,650 6,850
---------------------------------------------------------------------
 greater
78600 1 0.9 394 0.3 than 10,000 1,050
---------------------------------------------------------------------



These results indicate good potential for a large disseminated deposit of silver mineralization which would include layers of high grade silver mantos and cross-cutting gold-bismuth veins.

The company will continue to define drill or tunneling targets to investigate the subsurface and at the same time will be initiating discussions with potential joint venture partners.

Samples are collected under the supervision of the geologist in charge of the mapping and sampling program who ensures the quality of the samples taken and confirms the correct numbering of the samples. These samples are then transported by company personnel to the ALS Chemex laboratory in Oruro, Bolivia which does not have an ISO certification at this time. Only the sample preparation is carried out in Oruro. The analysis for gold is by fire assay ("FA") using a 30 gm sample and other elements are assayed by ICP 34 element analysis which is carried out in the ALS Chemex laboratory in Vancouver, an ISO 9001:2000 certified laboratory. Five percent of the samples were reanalyzed for control purposes at Acme Laboratories in Santiago, Chile and Vancouver

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. Felipe Malbran, Vice President of South American Exploration for GMC.

General Minerals Corporation is a Canadian base and precious metals exploration company focusing its activities in North and South America and currently has eleven projects in its portfolio. At March 31, 2004, the company had Cdn$16.7 million in cash and securities with no debt. It currently has 8.9 million shares issued and outstanding and the shares trade on the Toronto Stock Exchange under the symbol: GNM. For further details on General Minerals Corporation please visit the company's web site at www.generalminerals.com.
COPYRIGHT 2004 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2004, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

 
Article Details
Printer friendly Cite/link Email Feedback
Publication:Business Wire
Date:Jun 25, 2004
Words:1209
Previous Article:MCT Announces $1.6 Million Order for Tapestry SC and SmartSolutions Systems.
Next Article:Nexant and Sinodata Consulting Beijing Announce ChemSystems China Chemicals and Plastics Program.


Related Articles
General Minerals Corporation Options Malku Khota Silver Property Located in Bolivia to Apex Silver Mines Ltd.
General Minerals Corporation Announces Positive Exploration Results from Malku Khota Silver Project Joint Venture with Apex Silver Mines Ltd.
General Minerals Corporation Announces Drilling Program Plans at the Malku Khota Silver Project in Bolivia.
General Minerals Corporation Announces the Sale of a Bloc of Esperanza Silver Corporation Common Shares.
General Minerals Corporation Announces Start of Drilling at the Malku Khota Silver Project in Bolivia.
General Minerals Corporation Announces Start of Drilling at the Monitor Copper- Silver Property in Arizona.
General Minerals Corporation Announces Drill Results for Limosna Target at the Malku Khota Silver Project in Bolivia.
General Minerals Corporation Announces Drill Results for Warra Warra Target at the Malku Khota Silver Project in Bolivia.
General Minerals Corporation Announces Start of Drilling at the Dragoon Copper Property in Arizona.

Terms of use | Privacy policy | Copyright © 2018 Farlex, Inc. | Feedback | For webmasters