SOURCE: General Metals Corporation
RENO, NV--(Marketwired - Feb 13, 2014) - General Metals Corporation (OTCQB: GNMT): (www.nevada-goldmine.com) announced today that the recently completed analytical work on drill core samples from its Independence Gold and Silver Project yielded results that were fully consistent with resource values set forth in the Company's CNI 43-101 report. That report estimated a resource of 16.1 million tons at .014 au and 223,300 au oz, measured and indicated (note this is from v13 and v15 for OPG has 212,500oz). Jeffrey A. Rassuchine, the Company's Senior Consulting Geologist, oversaw the work which involved approximately 80 samples from 300 feet of drill core from three zones -- two located southeast of the old head frame and the third in the Hill Zone. The core cutting, fire assaying and atomic absorption work was conducted under Mr. Rassuchine's supervision at American Assay Laboratories in Sparks, Nevada.
Company CEO Dan Forbush noted "These results are important because they serve to reaffirm the extent and consistency of the resource we have at the Wilson-Independence project. The work by Jeff and AAL is another key step in establishing the feasibility of this project. We are pleased to see the correlation between the core assays and the assays from the reverse circulation drilling done previously."
Mr. Rassuchine indicated: The northern most core hole GM-T54-11 twinned RC drill hole GM-54 in the Hill Zone. The gold intercepts in the core hole closely matched the RC drill hole, each with a 75 and 80 foot gold intercept of .015 opt from 130 feet to 205 feet in the core hole with 80 feet of .028 opt from 130 feet to 210 feet in the RC hole. The difference in the overall gold grades is a well mineralized structure assayed 10 feet at .094 opt in the RC drill hole and the same exact zone assayed .031 opt gold over 10 feet in the core hole. This erratic nature of higher gold grades was accounted for by limiting its influence in the resource calculations.
The second core hole GM-T19-11 twinned RC drill hole GM-19. GM-19 is located several hundred feet southeast of the old Wilson inclined shaft where there is a considerable amount of mining. The top of the gold resource was intercepted at the same depth in both drill holes at 195 feet. The core assayed from 195 feet to 255 feet; 60 feet at .029 opt gold. The RC drill hole assayed 195 feet to 220 feet; 25 feet at .034 opt gold. At 220 feet the RC drill hole encountered old mine workings where a considerable tonnage of gold-silver ore was removed. The core hole did not encounter these mine workings. Thus it is likely the RC drill hole steepens considerably and the core and the RC hole are no longer twinned. The RC drill hole was in and out of mine workings from 220 to 250 feet with a number of zones of no sample recovery.
The third core hole (GM-T31-11) twinned RC drill hole GM-31. GM-31 is located at the very south end of the Independence property; an area with very erratic, spotty gold-silver mineralization. RC drill hole GM-31 stood out as an odd hole with a nice gold intercept of 105 feet grading .042 opt gold. Surrounding drill holes did not support this gold grade and it was interpreted RC drill hole GM-31 caught a narrow mineralized cross fault. The twinned core hole supports this conclusion. The best gold intercept in the core hole was 65 feet of .010 opt gold from 210 to 265 feet. This .010 opt gold grade is very similar to nearby RC drill holes.
On another matter Mr. Forbush announced that the Company had moved its website to www.nevada-goldmine.com a number of months ago. To alleviate disruption to our shareholders and other interested parties, we had the previous website name pointed to this website. The previous website name is no longer usable to the Company. We apologize for any inconvenience this may cause. The Company continues to work towards getting the new website listed in all public domains.
About General Metals Corporation General Metals Corporation (OTCQB: GNMT); www.nevada-goldmine.com, is an aggressive junior mining exploration and development company, based in Reno, Nevada. The company is actively pursuing the re-opening of its Independence gold and silver mining project strategically located in the prolific Battle Mountain Mining District of Nevada.
Qualified Person and NI 43-101 Disclosure
Information respecting resource estimates is based on an independent technical report entitled "Technical Report of the Independence Gold and Silver Project, Battle Mountain Mining District, Lander County, Nevada USA" dated June 27, 2011 and prepared for General Metals by James Ashton, P.E. and Sam G. Nunnemaker, R.P.Geo in accordance with the form requirements of National Instrument 43-101. A copy of the report is available on the General Metals website.
Cautionary Note to U.S. Investors - The U.S. Securities and Exchange Commission permits U. S. mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. We use certain terms in this presentation, such as "measured", "indicated", and "inferred" "resources", which the SEC guidelines strictly prohibit U.S. registered companies from including in their filings with the SEC. U.S. investors are urged to consider closely the disclosure in General Metal's form 10-K, which may be secured from General Metals or the SEC website at: http://www.sec.gov.
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, Section 21E of the Securities Exchange Act of 1934 and in Canadian securities legislation. 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 Open Gold will complete the acquisition of the Independence Project or the financing, a project can be found to put into General Metals, the timing of the Special Meeting that General Metals share price will in any way be affected by the Open Gold share price. 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.