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Last updated on April 24, 2014 at 17:35 EDT

Gentor Resources Inc. – Maiden Resource Estimates for Mahab 4 and Maqail South VMS Deposits

June 29, 2012

Gentor Resources & Al Fairuz Mining have defined their first two
near-surface copper volcanogenic massive sulphide (VMS) resources in
Oman. Regional exploration continues to identify further deposits, with
the aim of reaching critical resource mass that will justify proceeding
towards mine development.  Feasibility study metallurgical work has
commenced on the defined resources.

Mahab 4
Indicated Mineral Resource:
- 0.916 million tonnes @ 2.8% Cu, 0.54% Zn, 0.18g/t Au and 8.5g/t Ag
Inferred Mineral Resource:
- 0.590 million tonnes @ 0.9% Cu, 0.14% Zn, 0.05g/t Au and 2.5g/t Ag

The above mineral resources include the following high grade massive
sulphide resources
:
(Zone 2)
Indicated – 0.400 million tonnes @ 5.0% Cu, 0.96% Zn, 0.35g/t Au and 16.7g/t Ag
Inferred – 0.045 million tonnes @ 3.9% Cu, 1.09% Zn, 0.46g/t Au and 20.4g/t Ag

Maqail South
Inferred Resources:
- 0.160 million tonnes @ 3.8% Cu, 0.02% Zn, 0.14g/t Au and 2.4g/t Ag

Further drilling is planned in order to upgrade and expand these
resources.

TORONTO, June 29, 2012 /PRNewswire/ – Gentor Resources Inc. (“Gentor” or the
“Company”) (TSX-V – “GNT” & OTCQB – “GNTOF”) and its Omani partner Al
Fairuz Mining Company LLC are pleased to announce a maiden National
Instrument 43-101 mineral resource estimate for their Cu-Au-Zn Cyprus
type deposits in Oman. The estimates at Mahab 4 are based on 50 drill
holes totalling 6,169 metres of diamond core on 25 metre x 50 metre
sections (with some 25 metre line in-fill lines), and at Maqail South
on 30 drill holes totalling 2,668 metres of diamond core, completed to
the end of April 2012.

Gentor’s President and CEO Dr. Peter Ruxton commented: “We are delighted to announce these independent maiden resource
estimates for the Company’s first two Cyprus-type VMS discoveries in
Oman.  Most pleasing are the near-surface high grade portions of the
deposits, which bode well for a possible future low cost, open cut
mining option for these rich copper sulphide resources.  Whilst
feasibility standard metallurgical test work and studies have been
initiated on these two individual deposits themselves, Gentor remains
committed to a regional exploration programme designed to find
sufficient VMS resources for the Company to consider an early
development option.”

RESOURCE ESTIMATES

Summary
Gentor is exploring the Semail Ophiolite Complex in northern Oman for
Cyprus-type VMS deposits in a highly prospective geological
environment, where clusters of small high-grade VMS deposits have been
shown to be economically extractable.  The following maiden resource
estimation is based on Gentor’s discovery of two VMS deposits in
2010/2011 – exploration continues in the surrounding area for further
mineralisation following this “cluster hypothesis”.

The discoveries of the Mahab 4 and Maqail South deposits represent a
major step on the growth path towards accumulating sufficient resource
to warrant an early development decision.  However, significant further
exploration discoveries or resource acquisitions will be required
before full development studies can be launched.

The maiden mineral resource estimates for Mahab 4 and Maqail South were
prepared by independent consultants H&S Consultants Pty Ltd (“H&SC”)
and are set out in the following tables (the effective date of these
estimates is June 29(th), 2012):

Table 1: Summary of all estimated Sulphide Resources at 0.30 % Copper
cut-off

By Resource Category

     _________________________________________________________
    |   Deposit  |Category |Tonnage|Cu | Au  | Ag  | Pb  | Zn |
    |            |         | (kt)  |(%)|(g/t)|(g/t)| (%) |(%) |
    |____________|_________|_______|___|_____|_____|_____|____|
    |Mahab 4     |Indicated|   916 |2.8| 0.2 | 8.5 |0.080|0.54|
    |____________|_________|_______|___|_____|_____|_____|____|
    |Mahab 4     |Inferred |   590 |0.9| 0.1 | 2.5 |0.012|0.14|
    |____________|_________|_______|___|_____|_____|_____|____|
    |Maqail South|Inferred |   160 |3.8| 0.1 | 2.4 |0.002|0.02|
    |____________|_________|_______|___|_____|_____|_____|____|
    |Total Indicated       |   916 |2.8| 0.2 | 8.5 |0.080|0.54|
    |______________________|_______|___|_____|_____|_____|____|
    |Total Inferred        |   750 |1.5| 0.1 | 2.5 |0.010|0.12|
    |______________________|_______|___|_____|_____|_____|____|

Table 2: Summary of all estimated Sulphide Resources at 0.30 % copper
cut-off

By Zone & Resource Category

     ________________________________________________________________
    |   Deposit  |Category | Zone |Tonnage|Cu | Au  | Ag  | Pb  |Zn  |
    |            |         |      | (kt)  |(%)|(g/t)|(g/t)| (%) |(%) |
    |____________|_________|______|_______|___|_____|_____|_____|____|
    |Mahab 4     |Indicated|Zone 2|   400 |5.0| 0.4 |16.7 |0.141|0.96|
    |____________|_________|______|_______|___|_____|_____|_____|____|
    |Mahab 4     |Inferred |Zone 2|   45  |3.9| 0.5 |20.4 |0.121|1.09|
    |____________|_________|______|_______|___|_____|_____|_____|____|
    |Mahab 4     |Indicated|Zone 3|   516 |1.0| 0.0 | 2.2 |0.032|0.21|
    |____________|_________|______|_______|___|_____|_____|_____|____|
    |Mahab 4     |Inferred |Zone 3|   545 |0.6| 0.0 | 1.0 |0.003|0.06|
    |____________|_________|______|_______|___|_____|_____|_____|____|
    |Maqail South|Inferred |Zone 2|   121 |4.8| 0.2 | 2.8 |0.002|0.02|
    |____________|_________|______|_______|___|_____|_____|_____|____|
    |Maqail South|Inferred |Zone 3|   39  |0.5| 0.0 | 1.2 |0.001|0.02|
    |____________|_________|______|_______|___|_____|_____|_____|____|

An independent National Instrument 43-101 (“NI 43-101″) technical report
relating to the above maiden mineral resource estimates prepared by
H&SC will be filed on SEDAR and EDGAR within the period required by NI
43-101.

Methodology

Prior to the resource estimation H&SC inspected the property, witnessed
drilling activities, visited the site office in Sohar, talked with
staff and observed and commented on sampling, QA/QC, geological
logging, geotechnical data acquisition, density measurements and
general data handling protocols.  Data validation was carried out
including checking drill core against logs and checking drill hole
collar locations.

The wireframes used for estimation were constructed by H&SC and based on
cross-sectional interpretations of the geology provided by Gentor.
These interpretations are consistent with the available data and are
considered to be a reasonable and realistic representation of the
mineralisation. Three broad resource areas were categorised: Zone 1 for
oxides, Zone 2 representing the seafloor massive sulphide, and Zone 3
for the lower-grade sub-seafloor semi-massive sulphide and quartz vein
stringer material. An oxide zone (Zone 1) is present at Mahab 4 but
absent at Maqail South.

Three dimensional block models were generated with blocks 5x10x5m (east,
north and RL respectively) for Mahab 4 and blocks 10x5x10m (east,
north, RL respectively) for Maqail South.  A hard boundary was used for
grade estimations within the wire-framed mineralised Zones 1 (oxide), 2
(massive sulphide) and 3 (stringer zone).  Three search passes were
used to populate blocks.

The Mahab 4 resource estimates are limited to a depth of around 200
metres below surface. The Maqail South resource estimates are limited
by interpreted mineralisation to a depth of around 80 metres below the
surface.

H&SC has assessed the elements required to categorise the estimates and
has assigned the estimated resources at Mahab 4 to the Inferred and
Indicated Resource categories and the resources at Maqail South to the
Inferred Resource category in accordance with NI 43-101 guidelines.

H&SC considers there to be reasonable potential for expanding existing
resources along strike to the south of Mahab 4 but resources are
unlikely to be significantly expanded down dip due to decreasing
grades.

Deposit Geology
Mahab 4 Deposit
The Mahab 4 deposit model represents a shallowly north-easterly dipping
and north plunging VMS mineralised body consisting of massive sulphide
(Zone 2) overlying feeder zone of semi-massive sulphide and mineralised
stringer veinlets (Zone 3), and hosted by the Geotimes Unit pillow
lavas. This package is truncated on the east and west by roughly
north-south trending faults that have dismembered the deposit but may
have also controlled its formation. All zones have been cut by late
stage basalt and tonalite dykes. The massive sulphide has been
completely oxidised within 20 metres of the surface forming a narrow
gossan extending over 150 metres at the southern end of the north
plunging upright system. The mineralisation is interpreted to be
truncated to the south by an undefined fault where the gossan is
covered by modern wadi sediments.

Part of the massive sulphides exhibit moderate supergene enrichment
immediately underlying the gossan in the southern part of the deposit.
Supergene mineralisation is marked by the development of chalcocite and
exhibits elevated copper, gold and lead grades but lower zinc
concentrations. The supergene enriched zone grades into primary
mineralisation and was therefore not treated separately in the resource
estimation.

Maqail South Deposit
Geological Interpretation and Wireframe
At Maqail South drilling has confirmed a shallow dipping copper-rich
massive sulphide wedge overlying a proximal pyritic stringer zone that
extends up-dip to the west for at least 100 metres and is exposed
marginally. Laterally the exhalative sulphides are almost entirely
replaced by magnetite or have ferruginous umber in the main seafloor
position with limited mostly pyritic sulphidic stockwork feeder zones
beneath. The deposit is not obviously controlled by significant faults.

The footwall consists of pillow lavas of the Geotimes unit that have
been cut and mineralised by quartz and sulphide veinlets.  The degree
of veining and mineralisation generally increases upwards, towards the
seafloor massive sulphide to the degree that semi-massive and massive
sulphide intervals are intercalated. All zones have been cut by late
stage basalt and tonalite dykes.

Qualified Person

Rupert Osborn, an employee of H&SC, is the “qualified person” (as such
term is defined in NI 43-101) who is responsible for the mineral
resource estimates and other technical information disclosed in this
press release. Mr. Osborn has reviewed and approved the contents of
this press release.

About Gentor

Gentor is a mineral exploration company whose projects include copper
and gold properties in the Sultanate of Oman and Turkey and a
molybdenum-tungsten-silver property in East Central Idaho, U.S.  The
Company’s strategy is to create shareholder value by discovering and
developing highly prospective mineral properties around the globe, with
current focus in the Sultanate of Oman and Turkey.  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.  In Turkey at the
Hacimeter Project, the Company is joint-ventured with the Besler Group.

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 Project,
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.

Cautionary Note to U.S. Investors

The United States Securities and Exchange Commission (the “SEC“) permits U.S. mining companies, in their filings with the SEC, to
disclose only those mineral deposits that a company can economically
and legally extract or produce.  Certain terms are used by the Company
in this press release, such as “Inferred Mineral Resources” and
“Indicated Mineral Resources”, that the SEC guidelines strictly
prohibit U.S. registered companies from including in their filings with
the SEC. U.S. investors are urged to closely consider all of the
disclosures in the Company’s annual report on Form 20-F dated April 30,
2012 relating to the year ended December 31, 2011 and other 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.shtml.  

Cautionary Note Concerning 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 the estimation of mineral resources,
possible future production, 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, uncertainties relating to the
availability and costs of financing needed in the future, risks related
to the exploration stage of the Company’s properties, the possibility
that future exploration or development results will not be consistent
with the Company’s expectations, failure to establish estimated mineral
resources, changes in world copper or gold markets and equity markets,
mineral recoveries being less than those indicated by the metallurgical
test work carried out to date (there can be no assurance that mineral
recoveries in small scale laboratory tests will be duplicated in large
tests under on-site conditions or during production), political
developments in Oman or Turkey, the uncertainties involved in
interpreting drilling results and other geological data and the other
risks disclosed under the heading “Risk Factors” and elsewhere in the
Company’s annual report on Form 20-F dated April 30, 2012 relating to
the year ended December 31, 2011 filed on SEDAR at
www.sedar.com and EDGAR at www.sec.gov.  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.

Cautionary Note Concerning Mineral Resource Estimates

The mineral resource figures referred to in this press release are
estimates and no assurances can be given that the indicated levels of
minerals will be produced. Such estimates are expressions of judgment
based on knowledge, mining experience, analysis of drilling results and
industry practices. Valid estimates made at a given time may
significantly change when new information becomes available. While the
Company believes that the mineral resource estimates included in this
press release are well established, by their nature mineral resource
estimates are imprecise and depend, to a certain extent, upon
statistical inferences which may ultimately prove unreliable.

Mineral resources are not mineral reserves and do not have demonstrated
economic viability. There is no certainty that mineral resources can be
upgraded to mineral reserves through continued exploration.

Due to the uncertainty that may be attached to inferred mineral
resources, it cannot be assumed that all or any part of an inferred
mineral resource will be upgraded to an indicated or measured mineral
resource as a result of continued exploration. Confidence in the
estimate is insufficient to allow meaningful application of the
technical and economic parameters to enable an evaluation of economic
viability worthy of public disclosure (except in certain limited
circumstances). Inferred mineral resources are excluded from estimates
forming the basis of a feasibility study. 

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. 

SOURCE Gentor Resources Inc.

Image with caption: “Figure 1: Mahab 4 Plan – drill density & grade distribution (CNW Group/Gentor Resources Inc.)”. Image available at: http://photos.newswire.ca/images/download/20120629_C5274_PHOTO_EN_15850.jpg

Image with caption: “Figure 2: Mahab 4 block model – Oblique view looking towards the northwest of the reported resource highlighting copper distribution (CNW Group/Gentor Resources Inc.)”. Image available at: http://photos.newswire.ca/images/download/20120629_C5274_PHOTO_EN_15851.jpg

Image with caption: “Figure 3: Maqail South block model – oblique view looking eastward showing Zone 2 (massive sulphide) and Zone 3 (stringer) material distribution (CNW Group/Gentor Resources Inc.)”. Image available at: http://photos.newswire.ca/images/download/20120629_C5274_PHOTO_EN_15852.jpg

Image with caption: “Figure 4: Maqail South cross section looking north east showing copper grade distribution (CNW Group/Gentor Resources Inc.)”. Image available at: http://photos.newswire.ca/images/download/20120629_C5274_PHOTO_EN_15853.jpg


Source: PR Newswire