VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 25, 2013) - GEONOVUS MINERALS CORP. (TSX VENTURE:GNM) ("GeoNovus" or the "Company") is pleased to announce the start of drilling at the Red Hills porphyry copper project in south east Arizona.
In late 2012, drilling confirmed the presence of a fault-displaced portion of a porphyry system under sedimentary cover with an average of 0.18% Cu intercepted over 104.2 meters, including two separate intercepts of 0.39% Cu over 9.75 meters and 0.42% Cu over 11.8 meters, respectively (see news release, September 15th, 2012). The results suggested that the western portion of the property should be targeted for drilling, and a gravity survey was conducted to better define those areas (see news release, January 25, 2013).
The Company (through operator Bronco Creek Exploration, Inc.) has engaged Major Drilling, Inc. (Salt Lake City, Utah) for follow up drilling at Red Hills with a combined rotary / core program anticipated to total ~1800 meters. Drilling is expected to take 45 days to complete.
The technical contents of this release were reviewed by Dr. Tom E. McCandless, P. Geo., Technical Advisor to GeoNovus Minerals and qualified person as defined by National Instrument 43-101.
GeoNovus has an option agreement with Inmet Mining Corp. to explore the Red Hills porphyry copper project, with GeoNovus holding its interest under a mining lease agreement with Eurasian Minerals Inc. through its wholly-owned subsidiary Bronco Creek Exploration, Inc. ('Bronco Creek'). Eurasian Minerals (through Bronco Creek) has acted as manager for the work programs at Red Hills.
The Company has also concluded that based on its last drilling results, no further work is warranted at its Middle Mountain copper porphyry project. Middle Mountain was explored under an option agreement with Inmet and mining lease agreement with Bronco Creek similar to that at Red Hills.
GeoNovus Minerals Corporation (TSX VENTURE:GNM) is a junior exploration company actively seeking mineral development opportunities for the benefit of all our stakeholders, with two active porphyry copper exploration projects in Arizona.
Eurasian Minerals Inc. (NYSE MKT:EMXX)(TSX VENTURE:EMX) is a global gold and copper exploration company utilizing a partnership business model to explore the world's most promising and underexplored mineral belts. EMX generates wealth via grassroots prospect generation, strategic acquisition, and royalty growth.
Inmet Mining Corporation (TSX:IMN) is a Canadian-based global mining company that produces copper, and zinc, with operations in Turkey, Finland, and Spain.
ON BEHALF OF THE BOARD
Michael England, President
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.