31 October 2012 Quarterly Activities Report ... - General Mining

generalmining.com

31 October 2012 Quarterly Activities Report ... - General Mining

ASX ANNOUNCEMENT

31 October 2012

QUARTERLY ACTIVITIES REPORT

SEPTEMBER 2012

General

General

Mining

Mining

Corporation

Corporation

Ltd

Ltd

ABN:

ABN:

95 125

95 125

721

721

075

075

ASX

ASX

Code:

Code:

GMM

GMM

Quoted

Quoted

Securities:

Securities:

63,034,628 ordinary f.p. shares

107,441,529 ordinary f.p. shares

17,406,901

Total Issued

options

Capital:

63,034,628 ordinary f.p. shares

Market Capital at 8c per share:

Total $5 Issued million Capital:

107,441,529 ordinary f.p. shares

56,556,901 options

Share Price:

4.5 cents per share

Market Capitalisation:

$4.8 million

HIGHLIGHTS

20 hole drill program at Mt Success targeting 600m

long vein system commenced 24 th October 2012

20 hole drilling program designed for Chesterfield –

with RC drilling to commence early November once rig

relocated from Mt Success

PROJECTS

Australia

www.generalmining.com

Address:

65 Burswood Road

www.generalmining.com

Burswood WA 6100

Address: Telephone:

65 Burswood 08 9227 1186 Road

Burswood WA 6100

Facsimile:

Telephone: 08 9227 8178

08 9227 1186

Facsimile:

08 9227 8178

For more For more information, information, please please

contact: contact:

Michael Michael Wright Wright

Chairman Chairman

0413 0413 158 158 050 050

Mt Success

(Gold - GMM 100% or option to purchase 100%)

Planning for a 20 hole drilling program to test the gold

mineralised vein structure has been completed and an

associated Program of Work (“PoW”) approved by DMPR. Site

and pad preparation has been undertaken along with local DGPS

topography survey. RC drilling commenced 24 th October.

Initially, drilling will focus on testing the mineralised quartz vein

structure, which has been mapped along 600 metres of strike.

Drilling will target the vein to a depth of about 50 metres to

determine the continuity of gold mineralisation within the vein

system.

Chesterfield

(Gold - GMM 100%)

Input of all historic data into a validated database has now been

completed and modeling of existing mineralised zones identified

by historic drilling is being undertaken. An assessment will also

be made on the ability to prepare JORC compliant resource

estimates based on the existing information. A 20 hole

RC/diamond drilling program has been planned to test a number

of targets and a PoW submitted to DMPR for approval which was

subsequently approved on 18 October 2012.


Mercury Hill

(Gold - GMM 100%)

The drill database has been validated subsequent to input of additional historic data

enabling the completion of a sectional geological interpretation of the mineralised

zones. Evaluation of the data is currently being undertaken to determine if sufficient

detailed information exists to complete a JORC compliant resource estimate.

Planning of an RC and/or diamond drilling program has commenced to infill the

existing mineralisation and test for extensions/repetitions along strike and at depth.

Shoemaker

(Iron ore & manganese exploration - GMM 80% and Galaxy Resources Limited 20%)

No activity.

Black Hill

(Base metals - GMM 100%)

No activity.

Eyre

(Targeting IOCG/carbonatite related mineralisation - GMM 100%)

No activity.

Mongolia

Uvs Basin Projects (Coal, potash & lithium - GMM 100% & potentially earning interest in

additional licences) & Khangai Project (Base metals - GMM 100% or earning 60%)

A field review of all the Mongolian project areas was completed during September.

The review has identified a number of priority targets at both Uvs and Khangai for

Cu-Au and Cu-Ni-PGM respectively. Planning is currently being undertaken for future

evaluation of these targets along with assessment of existing tenement areas that

require rationalization.

CORPORATE

During the September quarter General Mining Corporation Limited completed the

second and final tranche of the placement to Investmet Limited and its nominees,

and the fully underwritten non-renounceable pro rata rights issue to eligible

shareholders. The raisings, at an issue price of 5 cents per share, raised a total of

$1,870,345 (before costs) to be used for the further exploration of the Company’s

existing projects, exploration of proposed new acquisitions and for general working

capital.

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Subsequent to the completion the raisings and of the acquisition of the Mercury Hill

and Chesterfield projects, the current quoted capital of the Company is as follows:

Ordinary fully paid shares (GMM) 107,441,529

Options exercisable at 7.5c each expiring 3/09/13 (GMMO) 5,802,357

Options exercisable at 10.0c each expiring 3/09/14 (GMMOA) 5,802,296

Options exercisable at 12.5c each expiring 3/09/15 (GMMOB) 5,802,248

Michael Wright

Chairman

The information in this report that relates to Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Mr

Michael Fotios, who is a Member of The Australian Institute of Geoscientists. Mr Fotios is a director of General Mining Corporation Ltd and has

sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is

undertaking to qualify as a Competent Person as defined in the 2004 Edition of the ‘Australasian Code for Reporting of Exploration Results,

Mineral Resources and Ore Reserves’. Mr Fotios consents to the inclusion in the report of the matters based on his information in the form and

context in which it appears.

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