General Metals Corporation |
A Nevada Junior Silver and Gold Mine Company
General Metals Corporation, a Nevada junior gold mining company is engaged in the evaluation, acquisition and exploration of Nevada silver and gold mines.
The Independence Project is 100% owned by General Metals Corporation and is located in the heart of the Battle Mountain Mining District. Situated in northern Nevada, the Battle Mountain Mining District encompasses an area with historic production exceeding 4 million oz. of gold and 20 million oz. of silver.
Nearly Surrounded by Large Scale Mineral Deposits and Mines
The 240-acre Independence Project was once the site of an historic Nevada gold mine. The Independence Project is surrounded by a number of large scale mineral deposits, including Fortitude, Sunshine, Tomboy, Minnie, and Phoenix properties. The now depleted Fortitude Deposit lies just 4,000 feet northeast of the Independence Project and is considered to be one of the most lucrative gold mines ever operated in Nevada. Newmont’s Phoenix Mine flanks the Independence Project on three sides and contains significant proven and probable reserves.
Since being acquired in 2006 by General Metals, the Independence Project has logged and modeled drilling data from 131 different drill holes. The project contains a NI-43-101 compliant measured, indicated, and inferred resource of 1 million oz. of gold and 4 million oz. of silver.
Two Main Zones of Mineralization in the Independence Silver and Gold Mine
The property features two main zones of gold and silver mineralization: a shallow near surface epithermal system and a deeper, high-grade underground target. Through its extensive exploration activities, General Metals Corporation has defined the near surface epithermal system over a strike length of more than 3,000 feet and a depth of 400 feet. General Metals Corporation is on track to complete a Preliminary Economic Assessment (PEA) – an important milestone that will substantially advance the company’s objective to build an open pit mine capable of producing 20,000 – 30,000 ounces of gold and 70,000-80,000 of silver annually.
Multi-Million Ounce Gold Potential
The deeper underground target at the Independence Silver and Gold Mine Project remains relatively unexplored, but it is also brimming with potential. Using data from just 7 drill holes, General Metals Corporation has established an inferred gold resource of 796,200 ounces and has identified a zone of mineralization that is over 1,400 feet wide and 3,400 feet long. Shortly, General Metals Corporation is set to commence a Phase II drilling program to further explore and define this deep skarn gold deposit. With some favorable results, the Independence Project could quickly evolve into a multi-million ounce gold deposit.
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