SOURCE: General Metals Corporation

March 10, 2010 05:56 ET

General Metals Achieves + 90% Extraction of Gold in Large Diameter Column Tests on Independence Surface Oxide Mineralization

RENO, NV--(Marketwire - March 10, 2010) -  General Metals Corporation ("the Company") (OTCBB: GNMT) (FRANKFURT: GMQ) is pleased to announce large diameter column leach tests on coarse crushed ore from the Independence have both yielded greater than 90% gold extraction after a 140 day leach cycle. These tests were conducted by McClelland Laboratories of Reno, Nevada on ore which had been crushed to 80 percent passing six inch and 80 percent passing 2 inch respectively. The leach on the six inch crush size was conducted on 1.9 tons of mineralized material and the 2 inch crush was conducted on 2.0 tons of material. Both column volumes are from bulk samples collected under the supervision of McClelland Lab personnel from the Independence Hill Zone. Actual leach extraction for the 4 inch crush was 91.45% of the screened head gold grade, and for the 2 inch crush extraction was in excess of 96% of the screened head grade. The Company is awaiting the leached tail screen analysis to calculate final head grades, but does not anticipate significant changes in the head grade or recovery.

These exceptionally good extractions on coarsely crushed ore are highly positive for potential future economics of the Independence and strongly suggest the Independence mineralization is amenable to cost effective heap leaching technology. Coarse crushing as indicated by the current metallurgical tests also suggests the Independence may have much lower Capital and Operating costs than other similarly sized mines with more typical ore bodies. At other similarly sized mines with similar head grades, crushing to 3/4 inch has added in excess of $40 per ounce to the cost of extracting and recovering gold.

In practice, actual performance on a leach pad can be expected to return 3 to 5 percent less than achieved in a column test. This should translate into operating efficiencies for the Independence between 86% and 88%, well above the industry average of approximately 75% and, which potentially will have the same net economic effect as producing from a more typical deposit with an average grade roughly 25% higher than the Independence.

Further details regarding the Independence are available on the Company's website www.gnmtlive.com.

About General Metals Corporation: General Metals Corporation is an aggressive junior minerals exploration and development company, based in Reno, Nevada. The Company is actively exploring and developing its 100% controlled Independence property strategically located in the prolific and highly prospective Battle Mountain Mining District of Nevada.

Notice Regarding Forward-Looking Statements

This news release contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, that the proceeds from the recent private placement will allow the Company to proceed with permitting at its Independence Mine in Nevada or any shallow mining production later this year, that any estimated ounces of gold or silver are contained in the mineralized material in the "Shallow Target," and is proposed to be mined and loaded onto a cyanide heap leach pad, or any future financings that the Company may enter into.

Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mineral exploration. We are not in control of metals prices and these could vary to make development uneconomic. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-KSB for the most recent fiscal year, our quarterly reports on Form 10-QSB and other periodic reports filed from time-to-time with the Securities and Exchange Commission.

Contact Information

  • Contact:
    Wayne Meyerson
    Investor Relations
    General Metals Corporation
    615 Sierra Rose Dr. Suite 1
    Reno, NV 89511
    wayne@gnmtlive.com
    775.583.4636 office
    775.830.6429 cell