GeoNovus Minerals Corp.

TSX VENTURE : GNM


GeoNovus Minerals Corp.

December 05, 2012 11:05 ET

GeoNovus Minerals Corp.: Red Hills Joint Venture With Inmet Plans Follow-Up Drill Program in 2013

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 5, 2012) - GEONOVUS MINERALS CORP. (TSX VENTURE:GNM) ("GeoNovus" or the "Company") announces that as a result of successful drilling this summer at the Red Hills copper porphyry target, the joint venture with partner Inmet Mining Corporation (TSX:IMN) has applied for additional drill permits, with drilling expected to commence in Q1 of 2013.

As announced on September 15th, 2012, drill hole RH-2 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. True thickness of the mineralization is not known at this time. The drill and assay data from RH-2 suggest that additional areas on the western portion of the property are a priority for further drilling to further delineate this zone of mineralization.

The technical contents of this release were approved 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. Eurasian Minerals has acted as manager for the work programs at Red Hills.

GeoNovus Minerals Corporation (TSX VENTURE:GNM) is a junior exploration company actively seeking mineral and energy development opportunities for the benefit of all our stakeholders, with three 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.

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.com