Welcome to the Creston Moly Corp. Hub

One of the best undeveloped molybdenum resources in the Americas.

Free
Message: NEWS - Drilling Commences At El Creston Molybdenum Project, Sonora, Mexico

NEWS - Drilling Commences At El Creston Molybdenum Project, Sonora, Mexico

posted on Sep 19, 2007 10:37AM

VANCOUVER, Sept. 19 /CNW Telbec/ - Georgia Ventures Inc. ("Georgia" or the "Company") (TSX-V: GVI) (FRANKFURT: G4Y) is pleased to announce that drilling has commenced at the El Creston Molybdenum project. Georgia's Mexican subsidiary, Exploraciones Global S.A de C.V. , has signed a diamond drill contract withLayne Drilling of Hermosillo for an initial 10,000 metres with an option for a further 20,000 metres of drilling.

Jonathan George, President of Georgia Ventures stated "that the Company is delighted to have secured a long term drill contract with one of Mexico's premier drilling companies enabling us to advance this outstanding project."

The initial 10,000 metre drill program will consist of infill drilling within the main El Creston Molybdenum deposit in order to upgrade inferred resources to the indicated category. The Creston Molybdenum deposit contains the following mineral resources at a 0.035% Mo Cut-off grade:

1. Mineral resources which are not mineral reserves do not have demonstrated economic viability. The estimates of mineral resources may be materially affected by environmental, permitting, legal, title, taxation, sociopolitical, marketing or other relevant issues.

2. The quantity and grade of reported inferred resources in this estimation are conceptual in nature and there has been insufficient exploration to define these inferred resources as an indicated or measured mineral resource and it is uncertain if further exploration will result in upgrading them to an indicated or measured mineral resource category.

>>
The mineral resources in this News Release were estimated using the Canadian Institute of Mining Metallurgy and Petroleum (CIM), CIM Standards on Mineral Resources and Reserves, Definitions and Guidelines prepared by the CIM Standing Committee on Reserve Definitions and adopted by CIM Council December 11, 2005.

The mineral resources are reported within a Whittle 4X optimized pit shell at a low strip ratio of approximately 1:1 (waste/ore), based on an open pit model by P&E Mining Consultants Inc. of Brampton Ontario ("P&E"). The 0.035% Mo Cut-off grade was calculated using a molybdenum price of US$6.50/lb, G&A of US$ 0.75/tonne, process cost of US$ 3.50/tonne and 87% process recovery.

The mineral resources have been estimated in an NI 43-101 compliant technical report prepared for the Company in March 2007 by independent qualified persons Eugene Puritch, P. Eng. and Dr. Wayne Ewert, P. Geo. of P&E. The P&E mineral resource estimate utilized conventional statistical analysis, variography, and grade interpolation utilizing Gemcom block modeling.

The mineral resources estimated by P&E are confined to the Main Molybdenum Zone. Significant potential exists for additional molybdenum mineralization in nearby areas such as the Red Hill Zone, a relatively untested target located 300 metres southwest of the main Creston deposit. The Red Hill Zone, which has been interpreted as the root zone of the Creston deposit, is open along strike in both directions and at depth.

The 18,000 hectare El Creston Molybdenum Project covers the advanced El Creston molybdenum deposit, the adjoining Red Hill Zone and a number of exploration targets defined by molybdenum geochemical anomalies and/or Aster (Advanced Spaceborne Thermal Emission and Reflection Radiometer) signatures.

Dr. Luca Riccio, PhD., P. Geo, a Qualified Person as defined by National Instrument 43-101, is responsible for the technical information contained in this News Release.

On behalf of the Board

(signed) "Jonathan W. George"

President

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy and accuracy of this release. Forward Looking Statements: The above contains forward looking statements that are subject to a number of known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those anticipated in our forward looking statements. Factors that could cause such differences include: changes in world commodity markets, equity markets, costs and supply of materials relevant to the mining industry, change in government, and changes to regulations affecting the mining industry. Forward-looking statements in this release include statements regarding future exploration programs, operation plans, geological interpretations, mineral tenure issues, and mineral recovery processes. Although we believe the expectations reflected in our forward looking statements are reasonable, results may vary, and we cannot guarantee future results, levels of activity, performance, or achievements.

This News Release is not intended for distribution in the United States.

For further information: Mr. Jonathan George, (604) 694-0005, (604) 684-9365 (FAX), www.georgiaventures.com; Renmark Financial Communications Inc.: Christine Stewart, cstewart@renmarkfinancial.com; Tina Cameron, tcameron@renmarkfinancial.com; Media: Adam Ross, aross@renmarkfinancial.com, (514) 939-3989, Fax: (514) 939-3717, www.renmarkfinancial.com


Sep 20, 2007 12:08PM
1
Sep 21, 2007 05:31AM
1
Sep 21, 2007 08:55AM

Sep 21, 2007 10:34AM

Sep 24, 2007 07:32AM

Sep 25, 2007 07:19AM

Sep 25, 2007 10:15AM

Sep 26, 2007 07:03AM
Share
New Message
Please login to post a reply