Marcus Johnson, President of Geneva Resources Inc. ("Geneva"), and Lori McClenahan, President of St. Elias Mines Ltd. ("St. Elias" or the "Company"), announce that the final geophysical report on the Vilcoro Gold Property in Peru has been received from Fugro Ground Geophysics. The Company has an option to earn a 66% interest in the Vilcoro Property from St. Elias Mines Ltd.
The geophysical survey comprised 13.9 km on 17 lines with IP-Resistivity readings at 25-meter intervals and Magnetic readings at 10-meter intervals. The geophysical interpretation shows that the "MAIN TREND" of gold mineralization is cored by a distinct chargeability (IP) anomaly that begins approximately 100 meters below surface. Such anomalies are commonly caused by disseminated sulphides associated with epithermal gold mineralization. This chargeability anomaly, which is about 400 meters long and 200 meters wide, corresponds to that part of the "MAIN TREND" where highest gold grades were obtained from surface sampling, and is considered a top-priority drill target.
The Company has secured the services of a professional organization to immediately begin an Environment Impact Study required by the Government of Peru to obtain a drilling certificate. Representatives of the Company are currently in the field negotiating with the owners of surface rights for permission to build drill roads and platforms.
Publication: PR Newswire
Provider: PR Newswire
Date: July 9, 2008
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