|April 05, 2012|
Gentor Resources releases further high grade diamond drill results from the Mahab 4 Volcanogenic Massive Sulphide deposit and regional exploration in Oman.
|New drill results from Mahab 4 include:|
GRB5D093 - 12.73 metres @ 5.03% Cu, 0.29 g/t Au, 2.00% Zn and 16.00 g/t Ag of primary massive sulphide from 130.7 metres down hole depth
GRB5D097 - 18.49 metres @ 5.25% Cu, 0.30 g/t Au, 0.80% Zn and 12.50 g/t Ag from 70.6 metres down hole in primary massive sulphide and semi-massive sulphide mineralisation
Toronto, Canada - April 5, 2012 - Gentor Resources Inc. ("Gentor") (TSX-V - "GNT" & OTCQB - "GNTO") and its Omani partner Al Fairuz Mining Company LLC are pleased to announce further assay results from evaluation drilling of the Mahab 4 Cyprus-type copper discovery in Block 5, in Oman. This includes results for the latest four drill holes, B5MB4D093 to B5MB4D103 plus extra analyses for hole B5MB4D070 that are summarized in Table 1 and presented in attached sectional Figure 4. These results have allowed the construction of a sectional based wire frame model for the deposit in preparation for the estimation of the maiden resource on this deposit. Hellman & Schofield have been commissioned to undertake a National Instrument 43-101 compliant resource estimation in the next few months. The wire framed model has been constructed to a maximum vertical depth of 130 metres and with a total of 51 core holes representing an aggregate of 6,195.94 metres of drilling.
Previously reported drilling at Maqail South consisted of eight mineralised holes on 50 metre spaced sections which defined a high-grade massive sulphide lens with strike and dip dimensions of 100 metres x 80 metres above low-grade stringer mineralisation centred on drillhole B5MSD031 (refer Figure 2). Further drilling has been conducted at Maqail South (as shown on Table 2 and Figure 2) but assay results are awaited.
Reverse circulation drilling during late 2011 and early 2012 tested a series of VTEM anomalies and geological targets in Blocks 5 and 6. Encouraging drill assay results were returned from three areas - Mahab 2, Maqail and Sarami (locations shown in Figure 3). Significant results outlined in Table 3 came from three holes at Mahab 2 with up to 5.00 metres grading 2.81% Cu in stockwork mineralisation, one hole at Sarami gave three intervals of +2% Cu in stringer veins including 4.00 metres at 3.30% Cu, and one hole at Maqail included two intervals including 1.00 metre at 1.08% Cu &1.29g/t Au containing massive sulphide clasts in a polymictic breccia. All these prospects warrant further evaluation by diamond drilling. Drilling is currently underway at Maqail to determine the source of the massive sulphide clasts.
Locality plans of the Oman concessions, the key prospect areas and reported drill holes on sections are found accompanying this press release on the Company's web site:
Gentor's President & CEO Dr. Peter Ruxton commented: "Gentor has now drill defined two massive sulphide deposits to date in Oman upon which resource estimations can be made. And we are in the process of defining new targets to expand our resource base in 2012."
TABLE 1. Summary of Mahab 4 Significant Intersections from Jan - March 2012.
(Codes: MS = Massive Sulphide, SMS = Semi-Massive Sulphide, QVS = Quartz Vein Stringer)
TABLE 2. Core holes completed at Maqail South (April 2012)
Note: Reference is made to Table 2 of Gentor's press releases dated November 14, 2011 and January 31, 2012 for the above type of information relating to the holes reported on in this press release.
TABLE 3. Reverse Circulation Drilling- Significant Results to Date
The exploration results disclosed in this press release have been reviewed, verified (including sampling, analytical and test data) and compiled by senior geologists under the direction of Dr. Peter Ruxton who is a Professional Member of the Institute of Materials, Minerals and Mining (I.M.M.M.), the Company's President and Chief Executive Officer and a "qualified person" (as such term is defined in Canadian National Instrument 43-101 as promulgated by the Canadian Securities Administrators).
Additional information with respect to the Company's Omani properties is contained in the technical report prepared by Venmyn Rand (Pty) Ltd, dated December 31, 2010 and entitled "National Instrument 43-101 Independent Technical Report on Block 5 and Block 6 Copper Projects, Semail Ophiolite Belt, Sultanate of Oman held by Gentor Resources, Inc." A copy of this report can be obtained from SEDAR at www.sedar.com.
Gentor is a mineral exploration company whose projects include copper and gold properties in the Sultanate of Oman and a molybdenum-tungsten-silver property in East Central Idaho, U.S. The Company's strategy is to create shareholder value by developing highly prospective mineral properties around the globe, with current focus in the Sultanate of Oman. In Oman, Gentor is partnered with Al Fairuz Mining Company LLC on its Block 5 exploration tenement and Al Zuhra Mining Company LLC on Block 6.
Forward-Looking Information: This press release contains forward-looking information. All statements, other than statements of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future (including, without limitation, statements regarding drilling and other exploration results, potential mineral resources, potential mineralization and the Company's exploration and development plans) are forward-looking information. This forward-looking information reflects the current expectations or beliefs of the Company based on information currently available to the Company. Forward-looking information is subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking information, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on the Company. Factors that could cause actual results or events to differ materially from current expectations include, among other things, risks related to the exploration stage of the Company's properties, the possibility that future exploration results will not be consistent with the Company's expectations, changes in world copper or gold markets and equity markets, political developments in Oman, uncertainties relating to the availability and costs of financing needed in the future, the uncertainties involved in interpreting exploration results and other geological data and the other risks involved in the mineral exploration business. Forward-looking information speaks only as of the date on which it is provided and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein.
The United States Securities and Exchange Commission (the "SEC") permits mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. U.S. investors are cautioned not to assume that any disclosure of mineralization contained in this press release is economically or legally mineable. U.S. investors are urged to closely consider all of the disclosures in the Company's reports filed pursuant to the United States Securities Exchange Act of 1934 which may be secured from the Company, or from the SEC's website at http://www.sec.gov/edgar.html.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information, please visit our website at www.gentorresources.com, or contact: Dr. Peter Ruxton, President & CEO, United Kingdom Tel: + 44 (0) 7786 111103; or Arnold T. Kondrat, Executive Vice President, Toronto, Ontario, Tel: + 1 (416) 366 2221 or + 1 (800) 714 7938.
FIGURE 1 - Mahab 4 geological plan showing drill holes and mineralised intervals.
FIGURE 2 - Maqail South geological plan showing VTEM anomalies and drill holes.
FIGURE 3 -- Block 5 Prospect Summary April 2012.
FIGURE 4 -- Mahab
You can view the Next News Releases item: Tue Apr 24, 2012, Gentor Resources receives excellent results from initial metallurgical test work on high-grade Massive Sulphide from the Mahab 4 Volcanogenic Massive Sulphide deposit in Oman.
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