/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES/
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 with Layne 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:
Category Tonnes Mo% Cu% Mo lbs Cu lbs
-------- ------ --- --- ------ ------
Indicated 92,873,000 0.083 0.060 169.9 122.8
Inferred 84,221,000 0.076 0.050 141.1 92.8
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
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
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"
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
This News Release is not intended for distribution in the United States.
For further information:
For further information: Mr. Jonathan George, (604) 694-0005, (604)
684-9365 (FAX), www.georgiaventures.com; Renmark Financial Communications
Inc.: Christine Stewart, firstname.lastname@example.org; Tina Cameron,
email@example.com; Media: Adam Ross, firstname.lastname@example.org,
(514) 939-3989, Fax: (514) 939-3717, www.renmarkfinancial.com