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Georgian Mining Corp.




Kvemo Bolnisi

Deposit:Zone 2
Report Code:(no Code)
Report Type:Exploration/Drilling Update
Project Stage:Pursuing Resource Increase/Upgrade
Report details:24-10-2017: Georgian Mining Corp. announces an Exploration/Drilling Update report for its Zone 2 deposit at the Kvemo Bolnisi project. Drilling results incl. 16m @ 3.40% Cu, 0.11g/t Au from 188.0m. Georgian Mining Corporation ('GEO' or the 'Company') is p
Resources:(not mentioned in this report)
CP/QP:[Overall Report]: James Royall (Not stated)
ABSTRACT:Georgian Mining Corporation ('GEO' or the 'Company') is pleased to announce drill results from a further 32 diamond drill holes undertaken by Georgian Copper and Gold ('GCG'), GEO's 50% joint venture company at Gold Zone 2 ('GZ2') at the Kvemo Bolnisi Copper and Gold Project ('KB') on the Tethyan Belt in Georgia. The new results will be incorporated in the existing JORC compliant Mineral Resource estimate. In addition, a new gold target has been identified to the west of the GZ2 Mineral Resource.This programme focused on drilling around the known margins of the GZ2 Mineral Resource, reconnaissance drilling of other channel, soil and rock chip anomalies located to the east, north and north east of GZ2 and a single drill hole testing an anomaly identified to the west of GZ2. Georgian Mining Corp Managing Director Greg Kuenzel said, "The completion of this phase of drilling will enable us to further develop the geological model at the KB Project. In addition, the results will better define future open pit limits for the gold oxide mineralisation at GZ2, as well as the initial mining target prior to finalising the KB mining and processing agreement with our partner as we look to deliver 'proof of concept' copper and gold production at the Project. "There will also be an addition to the Mineral Resource estimate based on some of the positive intercepts achieved in drilling and this will also flow through to the copper sulphide estimate. The results are with our external Resource consultant for inclusion in an updated Resource estimate."

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