GeoNovus Minerals Corp.
TSX VENTURE : GNM

GeoNovus Minerals Corp.

June 21, 2012 08:00 ET

GeoNovus Begins Drilling Program at Its Red Hills Porphyry Copper Project, Arizona

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 21, 2012) - GEONOVUS MINERALS CORP. (TSX VENTURE:GNM) ("GeoNovus" or the "Company") is pleased to announce the start of its drilling program at the Red Hills porphyry copper property in south central Arizona. The drilling will test for the presence of a fault-displaced portion of the Red Hills porphyry system under sedimentary cover in the western part of the property position.

Drilling on the western part of the property was initially conducted in 2008. At that time, the RC drill hole RH-2 intersected what are believed to be Tertiary sedimentary rocks near the bottom of the hole containing clasts with intense porphyry-related alteration and local copper mineralization. Drill hole RH-2 was terminated at 622 m due to excess water. The upcoming program will re-enter RH-2 and continue the drill hole with core to intersect underlying bedrock and target rocks.

In 2011, drilling on the eastern part of the property followed by a second induced polarization ("IP") geophysical survey by Zonge International, Inc, indicated that alteration and mineralization observed was likely structurally-controlled and peripheral to the main part of the porphyry system, further indicating the main part of the system lay to the west toward RH-2.

The technical contents of this release were approved by Dr. Tom E. McCandless, P. Geo., Technical Advisor to Geo Minerals and qualified person as defined by National Instrument 43-101.

GeoNovus has an option agreement with Inmet Mining Corp. (TSX:INM) to explore the Red Hills porphyry copper project, with GeoNovus holding its interest under a mining lease agreement with Eurasian Minerals Inc. (TSX VENTURE:EMX) through its wholly-owned subsidiary Bronco Creek Exploration Inc. Eurasian Minerals has acted as manager for the work programs at Red Hills.

Eurasian Minerals Inc. (TSX VENTURE:EMX)(NYSE MKT:EMXX) 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 currently has project interests in ten countries on four continents, and 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

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 GeoNovus Minerals Inc. Actual results may differ materially from those currently anticipated in such statements.

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.

Contact Information

  • GeoNovus Minerals Corp.
    Michael England
    President
    1-604-683-3995 or Toll Free: 1-888-945-4770
    1-604-683-3988 (FAX)
    www.geonovusminerals.ca