Welcome!

News Feed Item

Georgian Mining Corporation: Massive intersection of high-grade copper in Georgia

LONDON, UNITED KINGDOM -- (Marketwired) -- 02/16/17 -- Georgian Mining Corporation (AIM:GEO) reports a significant and near surface intercepts from the first three drill holes of a three phased copper-gold resource development drilling programme at the 50% owned Kvemo Bolnisi Copper Gold Project ('KB') in Georgia.

Highlights


--  Significant copper-gold mineralisation intersected at shallow depths: 
    --  KED011 - 113.7m @ 1.70% Cu from 18.4m to 132.1m, including: 
        --  47.6m @ 2.81% from 18.4m to 66.0m; and 
        --  16.2m @ 2.20% from 75.8m to 92.0m 
    --  KED008 - 28.6m @ 1.60% Cu and 0.80g/t Au from 47.4m to 76.0m 
--  Targets are open at depth and along strike with scope for significant
    expansion of the Cu-Au and gold oxide Mineral Resource 
--  A further 17 drill holes have been completed and prep and assay work is
    in progress 
--  These 20 holes are part of the current 10,000m (approx 50 hole) drill
    programme which is focused on delineating an initial near-surface
    mineable open pit Cu-Au resource and a gold oxide resource, both
    suitable for near-term production 

AIM listed Georgian Mining, Managing Director, Greg Kuenzel said, "These excellent results from our first three drill holes suggest we are on course to define a mineable open pit resource at KB in the short term. Our three phase drill programme aims to outline a 3-5Mt resource to meet guidance from our JV partner on initial deliveries of copper-gold and gold oxide mineralisation to the nearby processing plants. More assay results should be available shortly from our 10,000m three phase drill programme. On further success, we will expand the programme to drill test additional targets identified by our earlier exploration programme and we remain on track to significantly expand and upgrade our inferred resource."

Further Information

The current drill programme is focused on three targets within the KB copper gold project area in Georgia:

Copper Zone 1 - Copper-Gold

AuOx Zone 1 - Gold Oxide

AuOx Zone 2 - Gold Oxide

To view the accompanying map, please visit the following link: http://media3.marketwire.com/docs/GeorgianMiningCorp-map-21617.pdf

Drill results announced today relate to Copper Zone 1, which targets copper-gold mineralisation similar to the mineralisation mined and processed at the nearby Madneuli mine which has produced over 80MT of copper-gold ore to date. Subject to ongoing metallurgical test work, the mineralisation should prove suitable for processing at our JV Partner's nearby flotation plant.

An initial in-situ copper-gold Inferred Mineral Resource for KB of 947,000 tonnes at 0.94% copper Cu and 0.15 g/t Au at Copper Zone 1 was announced on 30 January 2017. The assay results for KED008, KED009 and KED011 announced today are not included in the initial mineral resource estimate and the addition of these and other outstanding drill results will increase the resource overall.

To reduce exploration risk, the exploration team has designed a three phase drill programme. Phase 1 is underway and aims to improve the geological model through a focus on trends of known higher grade mineralisation.

KED009 was drilled to the SSE of known mineralisation and intersected lower grade copper mineralisation with a peak intercept of 8.0m at 0.32% Cu and 0.10g/t Au. This lower grade mineralisation may relate to a deeper or peripheral higher grade open-pittable copper-gold zone much like the style of mineralisation to be found at the nearby Madneuli mine.

KED008 and KED011 were drilled to test the localised extension to the broadly defined breccia mineralisation hosting the initial Mineral Resource. Mineralised grades and widths are encouraging with confirmation of near surface mineralisation to support the proposal for open pit extraction.

The drill programme is continuing and further announcements will be made as and when new assay data is received and following upgrades to the Mineral Resource estimate.

The average vertical depth of drilling in phase one at KB is less than 200m depth whereas the nearby Madneuli mine, with a similar geology to KB, remains open at a current pit floor depth reported to exceed 500m. The implication for further resource development is clear; the latest drill results are now providing empirical evidence that the targeted Copper Zone 1 and AuOx Zones 1 and 2 may be discrete higher level parts of one larger mineralised system which joins laterally and at depth in a manner similar to the Madneuli Cu-Au deposit located only 7 km away. Our three-Phase programme is designed to explore for this larger target representing the next significant Cu-Au mineralised centre to Madneuli, once the initial objective has been achieved to rapidly develop mineable resources to be processed at our JV partner's neighbouring operations.

About Georgian Mining Corporation

Georgian Mining Corporation has 50% ownership and operational control of the Bolnisi Copper and Gold Project in Georgia, situated on the prolific Tethyan Belt, a well-known geological region and host to many high grade copper-gold deposits and producing mines. The Bolnisi licence covers an area of over 860 sq km and has a 30 year mining licence with two advanced exploration projects; Kvemo Bolnisi and Tsitsel Sopeli. These exploration projects are proximal to existing mining operations which are owned by the Company's supportive joint venture partner. Georgia has an established mining code and is a jurisdiction open to direct foreign investment. Investors may view current share price, Market Cap, and trading volume on the company website www.georgianmining.com.

Contacts:
Gregory Kuenzel
+44 207 907 9327

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
Regardless of what business you’re in, it’s increasingly a software-driven business. Consumers’ rising expectations for connected digital and physical experiences are driving what some are calling the "Customer Experience Challenge.” In his session at @DevOpsSummit at 20th Cloud Expo, Marco Morales, Director of Global Solutions at CollabNet, will discuss how organizations are increasingly adopting a discipline of Value Stream Mapping to ensure that the software they are producing is poised to o...
This talk centers around how to automate best practices in a multi-/hybrid-cloud world based on our work with customers like GE, Discovery Communications and Fannie Mae. Today’s enterprises are reaping the benefits of cloud computing, but also discovering many risks and challenges. In the age of DevOps and the decentralization of IT, it’s easy to over-provision resources, forget that instances are running, or unintentionally expose vulnerabilities.
In order to meet the rapidly changing demands of today’s customers, companies are continually forced to redefine their business strategies in order to meet these needs, stay relevant and continue to see profitable growth. IoT deployment and development is integral in this transformation, and today businesses are increasingly seeing the value of investing their resources into IoT deployments. These technologies are able increase ROI through projects such as connecting supply chains or enabling sm...
Interested in leveling up on your Cloud Foundry skills? Join IBM for Cloud Foundry Days on June 7 at Cloud Expo New York at the Javits Center in New York City. Cloud Foundry Days is a free half day educational conference and networking event. Come find out why Cloud Foundry is the industry's fastest-growing and most adopted cloud application platform.
With major technology companies and startups seriously embracing Cloud strategies, now is the perfect time to attend @CloudExpo | @ThingsExpo, June 6-8, 2017, at the Javits Center in New York City, NY and October 31 - November 2, 2017, Santa Clara Convention Center, CA. Learn what is going on, contribute to the discussions, and ensure that your enterprise is on the right path to Digital Transformation.
Most DevOps journeys involve several phases of maturity. Research shows that the inflection point where organizations begin to see maximum value is when they implement tight integration deploying their code to their infrastructure. Success at this level is the last barrier to at-will deployment. Storage, for instance, is more capable than where we read and write data. In his session at @DevOpsSummit at 20th Cloud Expo, Josh Atwell, a Developer Advocate for NetApp, will discuss the role and value...
Multiple data types are pouring into IoT deployments. Data is coming in small packages as well as enormous files and data streams of many sizes. Widespread use of mobile devices adds to the total. In this power panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists will look at the tools and environments that are being put to use in IoT deployments, as well as the team skills a modern enterprise IT shop needs to keep things running, get a handle on all this data, and deli...
SYS-CON Events announced today that SoftLayer, an IBM Company, has been named “Gold Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. SoftLayer, an IBM Company, provides cloud infrastructure as a service from a growing number of data centers and network points of presence around the world. SoftLayer’s customers range from Web startups to global enterprises.
In his opening keynote at 20th Cloud Expo, Michael Maximilien, Research Scientist, Architect, and Engineer at IBM, will motivate why realizing the full potential of the cloud and social data requires artificial intelligence. By mixing Cloud Foundry and the rich set of Watson services, IBM's Bluemix is the best cloud operating system for enterprises today, providing rapid development and deployment of applications that can take advantage of the rich catalog of Watson services to help drive insigh...
Cloud applications are seeing a deluge of requests to support the exploding advanced analytics market. “Open analytics” is the emerging strategy to deliver that data through an open data access layer, in the cloud, to be directly consumed by external analytics tools and popular programming languages. An increasing number of data engineers and data scientists use a variety of platforms and advanced analytics languages such as SAS, R, Python and Java, as well as frameworks such as Hadoop and Spark...
Cloud promises the agility required by today’s digital businesses. As organizations adopt cloud based infrastructures and services, their IT resources become increasingly dynamic and hybrid in nature. Managing these require modern IT operations and tools. In his session at 20th Cloud Expo, Raj Sundaram, Senior Principal Product Manager at CA Technologies, will discuss how to modernize your IT operations in order to proactively manage your hybrid cloud and IT environments. He will be sharing bes...
IBM helps FinTechs and financial services companies build and monetize cognitive-enabled financial services apps quickly and at scale. Hosted on IBM Bluemix, IBM’s platform builds in customer insights, regulatory compliance analytics and security to help reduce development time and testing. In his session at 20th Cloud Expo, Tom Eck, Industry Platforms CTO at IBM Cloud, will discuss how these tools simplify the time-consuming tasks of selection, mapping and data integration, allowing developers ...
Existing Big Data solutions are mainly focused on the discovery and analysis of data. The solutions are scalable and highly available but tedious when swapping in and swapping out occurs in disarray and thrashing takes place. The resolution for thrashing through machine learning algorithms and support nomenclature is through simple techniques. Organizations that have been collecting large customer data are increasingly seeing the need to use the data for swapping in and out and thrashing occurs ...
SYS-CON Events announced today that delaPlex will exhibit at SYS-CON's @CloudExpo, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. delaPlex pioneered Software Development as a Service (SDaaS), which provides scalable resources to build, test, and deploy software. It’s a fast and more reliable way to develop a new product or expand your in-house team.
For financial firms, the cloud is going to increasingly become a crucial part of dealing with customers over the next five years and beyond, particularly with the growing use and acceptance of virtual currencies. There are new data storage paradigms on the horizon that will deliver secure solutions for storing and moving sensitive financial data around the world without touching terrestrial networks. In his session at 20th Cloud Expo, Cliff Beek, President of Cloud Constellation Corporation, w...