General Metals Management Discussion of the Surface Oxide Mineralization Under Development and the Independence Gold
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RENO, NV, Jun 29 (MARKET WIRE) --
General Metals Corporation (the "Company") (OTCBB: GNMT) (FRANKFURT:
GMQ), is pleased to provide the following discussion of the Independence
Mineral System, and the connection between the Surface Oxide and the
Independence Gold Skarn mineralization beneath.
The Independence Surface Oxide Deposit is spatially and presumably
genetically associated with the sub vertical Independence Fault zone which
runs length wise along the property for more than one mile. Almost
directly beneath the Surface Oxide Deposit lies the best mineralized
portion of the Independence Gold Skarn deposit, also along the projection
of the Independence Fault in the underlying Antler Sequence. The Antler
Sequence is composed of the Edna Mountain Formation, the Antler Peak
Formation and the Battle Formation. The bulk of the skarn related gold
mineralization is contained in the Battle formation as shown on the
attached block model.
Surface oxide mineralization at the Independence Property represents the
epithermal "finger print" of underlying gold skarn mineralization in the
porphyry related gold skarn altered portion of the Independence system.
The Company believes the North - South trending Independence Fault, and
lesser related faults, acted as conduits or "plumbing systems" which
allowed mineral rich, late stage volatile fluids, fractionated from the
intrusives as they cooled and crystallized to migrate away from the high
temperature and pressure environment of the intrusive bodies. As these
fluids migrated away from intrusive bodies such as the Independence and
Copper Canyon stocks, changes in rock chemistry, temperature, pressure due
to fracturing caused the mineral solutions to become unstable resulting in
mineral deposition in favorable sites. Strong evidence of the intrusive /
porphyry association exists throughout the system in the form of diatreme
breccias and distinct geochemistry and alteration characteristic only of
porphyry related mineral systems.
Small but extensive diatreme breccias and breccia dikes, locally referred
to as "pebble dikes" occur along members of the Independence Fault zone.
These diatreme breccias typically are composed of well rounded, milled
chert pebbles in a matrix of igneous rock flour derived from the
intrusive. Numerous dikes of various ages, some of which have nearly
identical composition as the Independence Stock also cut the Pumpernickel
formation in the vicinity of mineralization and may be related to the
diatremes. The distinct geochemical characteristics of the near surface
oxide mineralization, which contains elements known to have a strong
affiliation with porphyry derived mineralization, but which are otherwise
very uncommon in epithermal mineralization also support the model of
porphyry derived mineralization at the Independence.
In addition to known mineralization in the Surface Oxide and underlying
Gold Skarn, significant potential exists to discover high grade "bonanza"
style epithermal, vein style mineralization in structures between the
Surface Oxide and the Gold Skarn. Similar high grade potential exists in
"feeder zones" below the gold skarn in the Harmony formation where the
Independence Fault cut the basement rock and allowed circulation of
mineral bearing fluids being driven off of the cooling intrusives.
Feeder Zones
Very high grade feeder zones exist on the Independence Property beneath
the Gold Skarn. Gold and silver bearing fluids appear to have circulated
through narrow feeder zones in the Cambrian age Harmony Formation along
tightly confined structures, as intersected in core hole WI-001 drilled by
Great Basin Gold where the 5.2 feet from 3297.5 to 3302.7 feet (1005.3 -
1006.9 meters) assayed 2.160 ounces of gold per ton. These narrow "feeder
zones" while very difficult to target for exploration from the surface
will likely be found below and proximal to the highest grade portions of
the gold skarn and represent a significant future high grade exploration
target, particularly if exploration can be conducted from more
advantageous underground locations in the gold skarn.
Gold Skarn Mineralization
After passing through the Harmony formation, mineral bearing fluids
migrated into the highly favorable skarn altered rocks of the Antler
Sequence. Skarn alteration induced brittleness facilitated extensive
fracturing due to structural and thermal stresses resulting in high
porosity and permeability within the skarn zone. This porosity and
permeability allowed excellent fluid circulation resulting in gold
deposition on these fractures as the solutions moved through the skarn.
Shallow Mineralization
As the mineral bearing fluids continued to migrate out and upward along
the Independence Fault and related structures, where suitable geological
environments existed additional portions of their mineral load were
deposited. The most significant of these currently known is the
Independence Surface Oxide Deposit, developed when ascending mineral
bearing fluids encountered brittle, highly fractured recrystallized,
semi-massive chert zones resulting in a porous, permeable, low temperature
environment. Hot mineralizing fluids, which may have been in the range of
280 to 300oC, circulating in the relatively cool fractured chert resulted
in significant additional thermal stress and fracturing much like pouring
hot boiling water into a cold glass induces thermal stress, fracturing and
porosity all over your kitchen.
Potential for High Angle, High Grade Veins
Significant potential exists to discover additional high grade,
epithermal, vein style "bonanza" mineralization between the Surface Oxide
Deposit and the Independence Gold Skarn. Mineralization will occur where
mineral bearing fluids circulated in structures cutting relatively
unfractured rocks where the structures had good access to low pressure,
low temperature regions, such as the near surface environment. High
pressure and temperature gradients resulting in boiling resulting in
mineral instability and subsequent deposition. In this case minerals
which had been stable and mobile in solution begin to deposit very
rapidly with the potential to form high grade vein style mineralization
which may have considerable vertical continuity and very high grades.
Development Strategy
The Company believes the logical development strategy for the Independence
Property is to develop the surface oxide mineralization, then follow with
exploration and development of the gold skarn and potential vein
structures between the surface and skarn, eventually exploring and
developing potential feeder structures in the basement rocks.
Independent Report Forthcoming
A comprehensive discussion of both areas of mineralization discussed above
will be contained in the upcoming Independent Report with resource
calculations in respective categories.
Further details regarding The Independence mineralization and drilling
efforts both historical and recent 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 its 100% controlled
Independence property strategically located in the prolific and highly
prospective Battle Mountain Mining District, Nevada. Permitting and
Engineering for heap leach production is underway at the Independence
Mine. The Company recently entered into an agreement to sell its 150 sq.
km. mining concession for gold, diamonds and base metals in Ghana, West
Africa for $1,000,000 in cash and stock and retains a royalty.
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 2008 fiscal year, our quarterly
reports on Form 10-QSB and other periodic reports filed from time-to-time
with the Securities and Exchange Commission.
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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
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