Geneva Resources, Inc. Receives NI 43-101 Technical Report on the Vilcoro Gold Property, Peru
CARSON CITY, Nev., April 9, 2008 /PRNewswire-FirstCall/ -- Resources, Inc. (Geneva Resources, Inc. or "Company") has received a technical report (the "Technical Report") in accordance with the provisions of National Instrument 43-101.
The Technical Report is authored by John A. Brophy, P Geo., a qualified person as defined in NI 43-101, and who has 32 years of continuous geological experience on four continents exploring for a variety of commodities including gold, copper, zinc, lead, uranium and silver
In the Technical Report Mr. Brophy writes:
"The 1,600-hectare Vilcoro gold property is located adjacent to the pueblo (town) of Santiago de Chuco in northwest Peru. The property is controlled by St. Elias Mines Ltd and Geneva Resources Inc. under the terms of an option agreement signed in April of 2007.
Composed chiefly of rock fragments of explosive origin, especially those associated with explosive volcanic volcanic rocks of the Tertiary-age Callipuy Formation, which is the same formation that hosts significant epithermal gold deposits in northern Peru including Yanacocha, Pierina, Lagunas Norte, and Tres Cruces.

Work done at Vilcoro during the "reporting period" (April to December, 2007) included geological mapping, alteration mapping, and collection of 665 rock samples and 781 soil samples. In addition, 107 rock samples were analyzed by PIMA (portable infrared mineral analyzer).

At Vilcoro, significant gold mineralization is hosted in an east-northeast-trending structural corridor referred to as the MAIN TREND. A total of 379 channel samples with an average length of more than three meters have been collected from the MAIN TREND, which has been traced for 1,800 meters along strike, is up to 400 meters wide, and spans a vertical distance of 400 meters. Individual samples assay up to 25.0 opt gold, but the median assay from all samples is about 1/4 g/t gold.

A conjectural figure of several million ounces of contained gold can be calculated if 1/4 g/t material is assumed to be continuous in the stated dimensions of the MAIN TREND, which appears to be the case based on limited surface sampling of rocks and soils. (This is a notional calculation and is not meant to be taken as a resource or reserve estimate under any category defined in National Instrument 43-101)

Clay assemblages and elemental associations suggest that the MAIN TREND is a high-sulfidation epithermal gold deposit analogous to Yanacocha or Pierina, but formed under initial conditions that were somewhat less acidic.

Recommended future work includes a million-dollar program of geophysical surveying (20 line-km) and diamond drilling (3000 meters). In addition, the services of a professional agency will be required to deal with community- relationship issues."