|General Moly to Explore for Copper, Silver and Zinc at Mt. Hope Project|
– Historical Drill Intercepts Indicate Potential For High-Grade, Copper-Silver Target
– New Results from Geophysical Survey Highlight Anomalies for Follow-Up Drilling
LAKEWOOD, Colo., March 1, 2018 /PRNewswire/ — General Moly, Inc. (the “Company” or “General Moly”) (NYSE American and TSX: GMO), the only western-exchange listed, pure play molybdenum development company, reports that based on a review of historic drill results, the Company has identified a potential high-grade, copper-silver exploration target along with a significant zinc mineralized area at the Mt. Hope Projectsite, southeast of the Mt. Hope’s molybdenum deposit in central Nevada.
Given the presence of this copper-silver target (“Cu-Ag Target”) and zinc mineralization, General Molyundertook a high-intensity, ground-based Induced Polarization (“IP”) survey to determine if potential continuity and the size of the mineralization would justify additional exploration and evaluation. The IP survey was completed in February 2018 by Quantec Geoscience and indicates a fairly continuous group of high chargeability anomalies that appear aligned with the recently identified Cu-Ag Target.
These anomalies lie between 100 feet and 1,000-plus feet from the surface and trend northeast for over 1,000 feet. The IP survey indicates that the anomalies could continue further to the north-northeast and to the south where they appear to dip to the east.
Ground IP Survey Results Highlights
The IP survey, which focused on the Cu-Ag Target, comprised six lines each of a 2,400-foot length with 2 lines running SW to NE (lines 1 and 6) and 4 lines (lines 4, 3, 2 and 5) running SE to NW and perpendicular to lines 1 and 6.
The survey found an anomalous high chargeability zone located at between 100 to 1,000 feet of depth with thicknesses between 200 and 800 feet, up to 1,000 feet of width and measuring over 1,000 feet trending north-northeast. (Please refer to the cross section of Line 3 shown below and to Appendix Illustration 2. High chargeability is indicated by the orange, red and pink colors.)
In addition, results from all the IP lines indicate that the anomalous zone remains open at depth. Parallel IP lines 1 and 6 also indicate that the anomalous zone appears to trend to the northeast dipping towards the southwest, remaining open. Based on the IP results and historic drilling data, the Cu-Ag Target appears to lie at a 40-degree angle down dip.
“The entire survey process from planning to the end product was professionally executed throughout. Particularly impressive was the team and work ethic in the field. Quantec isn’t cheap, however the product justifies the expense, and we now have a series of high quality exploration targets to drill test. We won’t hesitate to use Quantec again in the future.”
Fabian Baker, Chief Operating Officer, Tethyan Resources February 6, 2018
Now being mobilized, an electromagnetic survey will help target brine aquifers on Belmont Resources’ (TSXV:BEA) Kibby Basin property. The company describes Quantec Geoscience’s Spartan AMT/MT method as “a full tensor magnetotelluric technology that acquires resistivity data in the 10 kHz to 0.001 Hz frequency band. The result is a measurement that is applicable from near-surface to potential depths of three kilometres or more.” Belmont credits Quantec with over 5,000 geophysical programs in over 50 countries.
“That data looks fantastic!
Thank you for all your efforts, and thank the crew as well. They did a great job on this project.”
Brian Bengert, President of BFG consulting.
BFG Consulting specializes in geophysical consulting for base metal and gold exploration mineral exploration companies.
Toronto, ON – October 4, 2017 – Sierra Metals Inc. (TSX: SMT) (BVL: SMT) (NYSE American: SMTS) (“Sierra Metals” or “the Company”) is pleased to announce the initial results of the drilling program designed to test the anomalies of the Titan 24 Geophysical Survey recently completed on the Bolivar Property, Chihuahua, Mexico. The Titan 24 survey was completed to follow up on geophysical, geological and geochemical anomalies identified on the Bolivar Property by Sierra Metals Inc. The Bolivar Property is situated within the Piedras Verdes Mining District, which is located within the major north-northwest trending Sierra Madre Precious Metals Belt extending across the states of Chihuahua, Durango and Sonora in northwestern Mexico.
Alonso Lujan, Vice President, Exploration for Sierra Metals commented: “The Titan 24 survey highlighted over 40 specific areas of interest requiring further investigation and follow up. The 3D inversion modelling of the data provided an excellent tool for further exploration and highlights the overall structure below the deposit, in addition to similar structures and mineralization to the north of the deposit.” He continued, “The company began the first phase of a drilling program to test the most promising anomalies and drilled the first four holes. The results were very positive as indicated in Table 1 and 2 below and therefore the potential remains open for further exploration in these areas and the other multiple geophysical anomaly targets.”
Igor Gonzales, President and CEO of Sierra Metals stated “The results of the Titan 24 program and the subsequent assay results are exceptional and reflect a high correlation between copper mineralization and the priority targets identified in the geophysical survey. We are excited about the prospects of drilling all the priority geophysical targets and the completion of follow-on drilling on these new discoveries. This program aims to potentially quantify new high-grade zones which is a key strategic objective for our Bolivar mine to better define a path to future development and growth at the Bolivar operations”. He concluded, “We are encouraged by the exploration potential that these results are showing which could lead to further value growth for Sierra Metals in Mexico.”
Visit full press release:
From: Curt Freeman [mailto:firstname.lastname@example.org]
Sent: Thursday, August 3, 2017 11:31 AM
Elaha – thanks, we will review and get back to you if we have any comments.
In the mean time, I wanted to pass on my thanks for a job well done to Jeff, Alex, Darcy and all the Quantec crew who worked on our recent Alaska Project.
Safe, efficient and drama-free, your efforts are much appreciated!
SIERRA METALS DEFINES HIGH GRADE SILVER-GOLD
MINERALIZATION AT THE LA SIDRA ZONE AND HIGH GRADE
COPPER AT THE BOLIVAR WEST ZONE LOCATED AT THE
BOLIVAR MINE, MEXICO
See Full News Release: http://www.sierrametals.com
- Drilling program continues to confirm high-grade silver-gold mineralization and
substantial true widths at the “La Sidra” vein
- Drilling is currently active on the Bolivar West zone. A recent geophysical program
utilizing Titan 24 techniques has targeted near-surface, coincident strong chargeability
(IP) and resistivity anomalies in the Southwestern sector of the property near Bolivar
- Exploration programs targeted to increase tonnage and grade
Perumin 33 Mining Convention
From September 18 to 22, 2017
Deep and Real 3D DCIP & MT, An ORION 3D Survey at Charcas Project, San Luis de Potosí, México
Authors: Jimmy Stephen, Eugenio Migliano (Grupo), Alfonso Martinez(Grupo) and Leduar Ramayo
Today we are seeing that the mining industry is focusing on deep exploration. Quantec Geoscience offers true 3D DCIP & MT (ORION 3D) acquisition through multi-directional set up. Generally conventional DCIP technologies collect data in two dimensions and invert it in 3D, which is not as accurate as ORION 3D multi-directional array data collection. The aim of this work is to show how ORION 3D technology measures three parameters for effective mapping of mineralization, alteration, structure and geology to depth (2 km) and obtaining high quality data from an environment in which data acquisition tasks and survey operations are challenging. Charcas historical case is summarized here to give an idea of some of the benefits of performing an ORION 3D survey at San Luis de Potosi mining district, Mexico.
- Ground magnetic survey results over Cascabel concession reveal exciting targets.
- Exceptionally high-quality product produced from 650km of total field data acquired at line spacing of 50m.
- The planned Spartan-Orion hybrid induced polarisation survey will enable the direct detection and modelling of sulphides in 3D to in excess of 3km. This survey can be combined with existing drill-hole logs to construct improved 3D constrained geographical models.
- The increased sensitivity of the Spartan-Orion hybrid survey will allow for the production of improved structural and geological rock-type and mineralization maps.
Read full press release…
The IP survey at the Chivas Zone succeeded in identifying a strong near surface chargeability high anomaly with a 2.4 kilometres strike length and up to 1.8 kilometres in width. The chargeability anomaly is open to the northwest, southeast and at depth.
Chairman and CEO of Brixton, Gary Thompson stated, “The Chivas Zone represents a very attractive large scale gold target which is to be drill tested in 2017. We are very encouraged that the IP signature at Chivas is very strong and close to surface and that it aligns well with the high gold-in-soil anomaly.”
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