
























Geo Minerals Begins Drilling Program at Middle Mountain Porphyry Copper Project, Arizona


🞛 This publication is a summary or evaluation of another publication
VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 30, 2010) -GEO MINERALS LTD. (TSX VENTURE:GM)(FRANKFURT:8G3) ("GEO" or the "Company") announces mobilization for its drilling program with Inmet Mining Corp at the Middle Mountain porphyry copper property in south central Arizona has commenced. Brown Drilling (Kingman, Arizona) has been contracted to complete three initial test holes of 600 meters each (~2,000 feet) using a combination of reverse-circulation and core drilling methods to test for porphyry copper mineralization believed to be present in extended and tilted structural blocks beneath shallow gravel cover and outcrops exhibiting intense alteration and quartz-sulfide veining.
The targets are defined by an induced polarization/resistivity (DC/IP) geophysical survey recently completed by the Company (see news release, May 11, 2010), in combination with surface geological mapping. Previous drilling by the Company on the eastern portion of the property included three drill holes that intersected intense sericite-pyrite alteration typical of the outer pyritic shell of a porphyry copper-molybdenum deposit at depths of 207 meters (680 ft.), 151 meters (498 ft.), and 24 meters (80 ft) (see news release, Jan. 8, 2009).
The program is expected to take approximately 35 days, after which the drill rig will mobilize to the Company's Red Hills porphyry copper project, located seven kilometers north of Middle Mountain.
GEO has an option agreement with Inmet Mining Corp. to explore the Middle Mountain porphyry copper project, with GEO holding its interest under a mining lease agreement with Bronco Creek Exploration Inc. (see news release, Nov. 17, 2009). Bronco Creek Exploration is acting as manager for the work programs at Middle Mountain.
The technical contents of this release were approved by Technical Advisor to Geo Minerals and qualified person as defined by National Instrument 43-101, Dr. Tom E. McCandless, P. Geo.
The Company has granted a total of 1,700,000 stock options to directors, officers, employees and consultants of the company, exercisable at a price of 10 cents per share for a period of five years from the date of grant. The options have been granted in accordance with the company's stock option plan.
Geo Minerals is a junior exploration company actively seeking mineral and energy opportunities for the benefit of all our stakeholders, with four active porphyry copper exploration projects in Arizona.
Bronco Creek Exploration is a wholly-owned subsidiary of Eurasian Minerals Inc. with exploration properties in key mining districts of Arizona, Nevada, and Wyoming.
Inmet Mining Corporation is a Canadian-based global mining company that produces copper, zinc and gold, with operations in Turkey, Finland, Canada and Spain.
ON BEHALF OF THE BOARD
Michael England, President
Forward-Looking Statement:
Some of the statements in this news release contain forward-looking information that involves inherent risk and uncertainty affecting the business of Geo Minerals Inc. Actual results may differ materially from those currently anticipated in such statements. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.