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Share Name | Share Symbol | Market | Type |
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Geologix Explorations (delisted) | TSXV:GIX | TSX Venture | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
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0.00 | 0.00% | 0 | - |
View News Release and Maps in PDF Format: http://www.geologix.ca/i/pdf/NRJune9-2008.pdf Geologix Explorations Inc. (TSX VENTURE:GIX)(FRANKFURT:GF6)(BERLIN:GF6)(STUTTGART:GF6)(MUNICH:GF6) (the "Company") is continuing to expand the San Agustin mineralization as shown in drill holes SA-188 to SA-192 which significantly adds to the width and depth. Please see the Company's website at www.geologix.ca for a full set of plan maps and sections or view the PDF link above. Dunham Craig, President and CEO stated: "Phase III drilling continues to expand mineralization beyond the outline used to calculate the June 2008 resource estimate at a rapid rate with no end in sight as drill holes continue to end in mineralization. Our deep drilling is now underway and, coupled with the current flank drilling, we expect our second resource estimate this fall to be significantly larger. Considering the project's excellent infrastructure and size increase, we are excited that this is becoming one of the larger polymetallic bulk tonnage projects in Mexico." -------------------------------------------------------------------------- San Agustin Assay Results (Phase III Expansion) -------------------------------------------------------------------------- Gold From To Length Au Ag Pb Zn Equiv(i) Hole # Zone (m) (m) (m) (g/t) (g/t) (%) (%) (g/t) -------------------------------------------------------------------------- SA-188 Main 24.00 51.00 27.00 0.07 7.67 0.19 0.26 0.67 -------------------------------------------------------------------------- 57.00 141.90 84.90 0.35 10.84 0.08 0.55 1.28 -------------------------------------------------------------------------- -------------------------------------------------------------------------- SA-189 Zone 2 13.00 327.00 314.00 0.36 16.47 0.08 0.66 1.51 -------------------------------------------------------------------------- -------------------------------------------------------------------------- SA-190 Zone 2 42.00 52.00 10.00 1.25 4.40 0.02 0.06 1.41 -------------------------------------------------------------------------- 71.00 346.00 275.00 0.61 29.07 0.14 1.07 2.53 -------------------------------------------------------------------------- -------------------------------------------------------------------------- SA-191 Zone 2 5.20 296.35 291.15 0.59 45.39 0.17 0.59 2.21 -------------------------------------------------------------------------- -------------------------------------------------------------------------- SA-192 Zone 2 77.00 314.00 237.00 0.51 23.63 0.13 0.87 2.09 -------------------------------------------------------------------------- (i) Gold Equiv is based on contained metal and estimated using commodity prices based on a four year rolling average for all metals ($USD) and recoveries of: Gold -- $559.74/oz and 95%, Silver -- $10.17/oz. and 87%, Lead --$0.69/lb. and 91%, and Zinc -- $1.04/lb and 92%. Infrastructure: Infrastructure at San Agustin is very favourable for project development. The project resides in a rural area of low lying hills and flat fields. Due to the excellent location, climate and topography, the company estimates that development criteria will be very favourable. National grid power and paved highway are 6 km from the site. The Penoles Torreon lead/zinc smelter is a 4 hour drive by truck and the Mexican government is currently constructing a super highway to Mazatlan which provides sea port access to smelters worldwide. The project is a one hour drive north of Durango, a modern city with a population of 500,000 and the nearest town of San Agustin (population 250) is located 4 kilometres southwest. There are no residents or buildings on the project. Qualified Person Geologix's Resource Geologist, Andrew Hamilton, B.Sc., P. Geo., a 'qualified person' for the purposes of National Instrument 43-101 Standards of Disclosure for Mineral Properties of the Canadian Securities Administrators, has verified the data (including sampling, analytical and test data) and prepared or supervised the preparation of the information contained in this new release. Quality Assurance & Control The Company has implemented a quality assurance and control (QA/QC) program to ensure sampling and analysis of all exploration work is conducted in accordance with the best possible practices. The drill core is sawn in half with half of the core samples shipped to ALS Chemex Laboratory Services Limited in Vancouver, British Columbia for analysis. The other half of the core is retained for future assay verification. The QA/QC policy includes the chain of custody monitoring, insertion of blanks, standards and duplicates in the initial samples submitted. The laboratory provides an additional internal control program. Geologix Explorations Inc. is a mineral exploration company focused on acquiring, exploring and developing gold properties in North and South America. The Company has a wealth of experience in the mining industry taking early stage exploration prospects to final feasibility and ultimately to production.
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