Work Programs Commence At Red Hills And Middle Mountain

 

VANCOUVER, BC Ð Geo Minerals reported that Inmet Mining Corp. has approved first phase work programs for both the Red Hills and Middle Mountain properties in Arizona. Permitting has begun, with work on the ground expected to commence in late February.

Geo Minerals Ltd. previously entered into two separate option agreements with Inmet Mining Corp. to explore Geo's porphyry copper projects located in the Arizona porphyry copper province. Inmet has the option to earn a 70-per-cent interest in Geo's Red Hills property and a 70-per-cent interest in Geo's Middle Mountain property by making cumulative cash payments of $675,000 and exploration expenditures of $2-million over five years on each of the projects. Geo Minerals holds its interest in the projects under mining lease and option agreements with Bronco Creek Exploration Inc., a US subsidiary of Eurasian Minerals Inc. Bronco Creek Exploration Inc. will act as manager for both projects for this first work program.

The projects lie within a broad belt of porphyry-copper mineralization including operating mines that stretch from the Globe-Miami district westward through Resolution, Ray, and Florence. Drilling at Middle Mountain in 2009 intersected intervals of intense alteration, with zonation consistent with a structural model of a hydrothermal system as dismembered and rotated approximately 90 degrees. At Red Hills, drilling in 2009 included an intersection of exotic copper oxide mineralization. The 2010 programs will include surface mapping and geophysical surveys over both properties with the objective to resolve the subsurface structure as it relates to surface exposures.

The company’s address is Suite 1220, 789 West Pender Street, Vancouver, BC V6C 1H2,

604-683-3995, fax: 604-683-3988, email: [email protected].