General Moly to Commence Exploration Program at Mt. Hope

General Moly (TSX:GMO,NYSEAmerican:GMO), reports it will be commencing an initial exploration drilling program in the next few weeks. The drilling exploration will be focused on the previously identified copper–silver–zinc-mineralized skarns, immediately adjacent to the Mt. Hope molybdenum deposit in central Nevada.

General Moly is an American-based, molybdenum mineral exploration and development company, its  primary asset, is an 80 percent interest in the Mt. Hope project located in central Nevada. The company is also whole owner of  the Liberty project, a molybdenum and copper property also located in central Nevada.

As quoted from the press release:

The 10-hole drilling program is designed to confirm and extend the high-grade copper-silver target (Cu-Ag) defined by historical drilling and to test for extensions of horizons of zinc mineralization. The Cu-Ag target lies below the zinc mineralized horizons, which had been historically mined.

This US$0.8 million first phase drill program is expected to take approximately two months with drill assay results expected in the fall 2018. The aggregate footage of the planned 10 holes is estimated at 9,400 feet. Planned intercepts are at least 100 feet of spacing at the targeted depth.

Drill hole location and targeting were developed by Mine Mappers, LLC, with Mark Osterberg, Ph.D., P.G., as the principal consulting geologist. Dr. Osterberg was retained by General Moly to support its internal staff in the evaluation of the geophysical and historical drilling results. Dr. Osterberg and his colleagues at Mine Mappers have mapped surface geology and logged diamond drill core at the Mt. Hope project in several previous campaigns.

“The skarns were formed from limestone prescursors within the contact metamorphic aureole around the Mt Hope porphyry stock. Higher grade copper and silver mineralization tends to occur in proximity to the limestone-porphyry contact. Zinc-dominant skarn replacement beds are often in more distal positions. In fact, significant quantities of zinc were produced from distal bedding replacement deposits from the historical underground mines, operating intermittently from as early as 1886 to the 1970’s,” said Dr. Osterberg.

Click here to read the full press release