TORONTO, Oct. 1, 2014 /CNW/ - GPM METALS INC.
(TSXV:GPM) (the "Company") announces the filing of the initial
technical report for the Company's Walker Gossan Project in
Northern Territory, Australia
entitled "Technical Report on the Walker Gossan Project in Arnhem
Land, Northern Territory, Australia" dated effective September 16, 2014 (the "Technical Report").
The Technical Report was prepared by Mr. David G. Jones (BSc., MSc., FAusIMM, FAIG); a
"Qualified Person" as defined in National Instrument 43-101.
A copy of the Technical Report is available under the Company's
profile on www.sedar.com and on the Company's web site at
www.gpmmetals.ca
The Company has the right to acquire up to a 75% interest in the
Walker Gossan Project pursuant to an Earn-in / Joint Venture
Agreement with Rio Tinto Exploration Pty Limited. The
Company's wholly owned Australian subsidiary (DPG Resources
Australia Pty Limited) is the project operator.
DESCRIPTION OF PROPERTY
The 166,000 hectare Walker Gossan project is located within the
Walker Trough, a package of Middle Proterozoic carbonate sediments,
situated in Arnhem Land in the Northern Territory of Australia.
Geographical maps and geological setting illustrations are
available on the Company's web site.
http://www.gpmmetals.ca/australia/
The primary area of interest is the Walker Gossan. Gossanous
outcrops with highly anomalous lead values were discovered by CRA –
Conzinc RioTinto of Australia
(predecessor to Rio Tinto Limited) in 1970 and a tenement
application was made to the Government of the Northern Territory in
1972. An agreement under the Aboriginal Land Rights Act is required
prior to grant of the tenement. To date the area has been held
under tenement application and no exploration has been undertaken
within the 40 years which have followed the discovery of the
gossan.
The Walker Trough is part of an extensive Middle Proterozoic
carbonate sequence which occurs from South of Mount Isa through to
Darwin over an area of approximately 600,000 square kilometres
which hosts one of the great metallogenic belts of the world.
The region includes a number of major silver, lead, zinc and
copper deposits. These include the Mount Isa, George Fisher and MacArthur River mines owned by
Xstrata; the Cannington Silver Mine, regarded as the largest
silver mine in the world, owned by BHP; the Century zinc deposit,
one of the largest zinc mines in the world and owned by MMG Mining
of China; and several other
deposits.
The Walker Trough region was identified by the Northern
Territory Geological Survey team as being a direct analogy of the
Pb-Zn endowed Batten Fault trough which contains the MacArthur
River Zinc mine. Further, it was considered the "hottest untested
exploration play in The Northern Territory" in a 2004 publication
of the Northern Territory Geological Survey.
http://www.nt.gov.au/d/Minerals_Energy/Geoscience/Content/File/Docs/CORE/NTExplnOpportunities.pdf
All scientific and technical information in this press release
has been prepared under the supervision of Peter Mullens, President, DPG Resources
(Australian subsidiary of GPM Metals Inc.), a "qualified
person" within the meaning of National Instrument 43-101. Mr.
Mullens (B.Sc Geology) is a member of the Australian Institute of
Mines and Metallurgy.
GPM Metals Inc. is led by an experienced management and
technical team with demonstrable skills and experience in all
facets of mineral development, from grass roots exploration to
capital markets and mine builds globally. The Company maintains
offices in Brisbane and
Toronto.
Forward Looking Statements
Completion of an interest in the Walker Gossan Project by the
Company remains subject to a number of conditions. There can be no
assurance that an interest in such property will be acquired by the
Company, as proposed or at all. All statements other than
statements of historical fact, included in this release, including,
without limitation, statements regarding the potential acquisition
by the Company of an interest in the Walker Gossan Project are
forward-looking statements that involve various risks and
uncertainties. There can be no assurance that such statements will
prove to be accurate and actual results and future events could
differ materially from those anticipated in such statements.
Important factors that could cause actual results to differ
materially from the Company's expectations are exploration risks
detailed herein and from time to time in the filings made by the
Company with securities regulators.
Neither the TSX Venture Exchange nor its Regulation Services
Provider accepts responsibility for the adequacy or accuracy of
this release.
SOURCE GPM Metals Inc.