LAKEWOOD, COLO. — General Moly Inc. reported March 1 that has identified a potential high-grade, copper-silver exploration target along with a significant zinc mineralized area at the Mt. Hope Project site, southeast of the Mt. Hope’s molybdenum deposit in central Nevada.
A review of historic drill results and a geophysical survey of Mt. Hope form the basis to commence a robust geologic review and further evaluation via a new 2018 exploration program, focused primarily on a high-grade copper-silver target, subject to further financing.
The Mt. Hope molybdenum project is 21 miles north of Eureka and has approximately 65 percent of engineering completed with no current engineering work in progress, while it is undergoing final phases of permitting to reobtain its water permits and record of decision. The company also wholly owns the Liberty Project, a molybdenum and copper property in central Nevada. Molybdenum is a metallic element used primarily as an alloy agent in steel manufacturing and in the chemical and petrochemical industries.
Because of the copper-silver target and zinc mineralization, General Moly undertook a high-intensity, ground-based induced polarization 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 copper-silver target.