Geologix San Agustin Phase II Drilling Completed
14 Aprile 2008 - 3:21PM
Marketwired Canada
Geologix Explorations Inc. (TSX
VENTURE:GIX)(FRANKFURT:GF6)(BERLIN:GF6)(STUTTGART:GF6)(MUNICH:GF6) -
To View News Release and Maps in PDF Format, please click on the following link:
http://www.geologix.ca/i/pdf/NRApril11-08.pdf
Geologix Explorations Inc. (the "Company") is pleased to release results of the
remaining drill holes from the Phase II program. Historical, Phase I and Phase
II drill holes, SA-1 to SA-166, are being used for a new Geologix resource
calculation based on gold, silver, lead and zinc. This resource is being
prepared by Wardrop Engineering of Vancouver. B.C. A separate Silver Standard
option agreement resource will be calculated upon completion of the option drill
plan.
Phase III drilling is currently underway and is stepping out in all directions
from previous drilling with the objective of expanding the deposit on strike,
width and depth. Results from Phase III drilling will be used for future
resource updates based on the expansion of existing zones defined by SA-1 to
SA-166. For a plan map of the current resource area and drill holes in this
release please click on the following link
http://geologix.ca/i/pdf/nr_april14planmap.pdf or visit our website
www.geologix.ca
President and CEO Dunham Craig stated "We are excited about the potential of
resource expansion on the property as is indicated by the continuity of our past
drilling with zones being open and drill holes ending in mineralization. We have
just begun to explore the property and anticipate Phase III drilling will
continue to add growth to the deposit as well as the exploration beginning on
the adjacent Consejo property. Currently the San Agustin property area is only
about 15% drill explored and Consejo work has just begun."
Drilling Progress
At San Agustin 19 additional drill holes have been completed and submitted to
the assay lab. Three drills are currently on site with the new third larger
drill capable of drilling to 750 meters depth with HQ diameter core. Given the
continuing positive drill results, the company is expanding it's drill activity
with accelerating prefeasibility work beginning in the 2nd quarter 2008.
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.
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San Agustin Assay Results (Phase II)
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From To Length Au Ag
Hole # Zone (m) (m) (m) (g/t) (g/t) Pb% Zn %
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SA-109 Main 6.50 14.00 7.50 1.06 8.21 0.15 0.04
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56.00 131.00 75.00 0.67 8.40 0.06 0.52
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141.50 208.00 66.50 0.77 11.76 0.02 0.11
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222.50 243.85 21.35 1.21 29.31 0.01 0.17
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270.50 282.50 12.00 0.51 10.21 0.01 0.18
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SA-110 Main 14.00 26.95 12.95 0.39 1.41 0.01 0.22
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69.50 95.00 25.50 0.34 1.48 0.01 0.50
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102.00 105.00 3.00 0.29 1.10 0.01 1.58
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110.00 141.35 31.35 0.60 2.80 0.01 0.20
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SA-111 Main 0.00 48.60 48.60 0.47 37.19 0.01 0.13
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including 7.00 22.50 15.50 0.50 97.78 0.01 0.19
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54.00 69.50 15.50 1.10 12.29 0.02 0.01
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87.50 140.05 52.55 1.24 12.07 0.01 0.49
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SA-112 Main 25.00 170.50 145.50 0.62 13.58 0.03 0.44
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including 81.00 113.00 32.00 1.28 21.63 0.03 0.65
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184.00 228.50 44.50 0.35 4.50 0.01 0.49
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SA-113 Main 59.40 67.50 8.25 0.53 45.86 0.06 0.01
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91.00 168.00 77.00 0.33 5.93 0.02 0.38
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SA-114 Main 19.00 25.00 6.00 0.31 18.68 0.01 0.01
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69.50 84.50 15.00 0.29 7.05 0.01 0.34
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125.00 131.00 6.00 0.43 75.90 0.01 0.27
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142.65 148.75 6.10 0.17 6.22 0.03 0.57
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SA-115 Main 7.20 52.00 44.80 0.89 8.01 0.01 0.02
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including 29.50 49.00 19.50 1.28 9.71 0.02 0.01
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SA-117 Main 4.55 108.50 103.95 0.57 12.72 0.02 0.35
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including 56.00 83.00 27.00 0.53 12.19 0.02 0.86
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SA-121 Zone 2 45.00 84.50 39.50 0.37 23.80 0.14 0.67
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104.50 108.95 4.45 0.12 22.43 0.18 0.35
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118.20 172.00 53.80 0.20 10.23 0.07 0.51
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189.50 218.30 28.80 0.27 14.64 0.11 0.73
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SA-122 Zone 2 74.50 85.00 10.50 0.50 7.23 0.07 0.81
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282.00 303.30 21.30 0.23 16.85 0.15 0.73
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SA-123 Zone 2 0.00 149.00 149.00 0.28 26.17 0.19 0.40
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including 52.90 75.80 22.89 0.27 26.57 0.26 0.98
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and 108.15 118.50 10.35 0.64 83.11 0.61 1.67
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169.25 199.35 30.10 0.47 14.06 0.04 0.17
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SA-124 Zone 2 21.00 53.00 32.00 0.36 17.07 0.08 0.07
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90.60 104.60 15.10 0.39 16.02 0.13 0.40
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SA-131A Zone 2 121.30 126.00 4.70 0.19 5.69 0.04 0.23
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130.50 146.50 16.00 0.42 12.82 0.15 0.49
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152.50 173.00 20.50 0.25 11.41 0.08 0.37
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193.00 202.50 9.50 0.31 18.32 0.03 0.18
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229.50 389.80 159.70 0.71 58.63 0.15 0.62
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San Agustin Assay Results (Phase II)
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From To Length Au Ag
Hole # Zone (m) (m) (m) (g/t) (g/t) Pb% Zn %
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SA-134 Main Zone 41.50 105.20 63.70 0.36 7.35 0.01 0.32
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SA-136 Trench V 0.00 23.15 23.15 0.14 15.26 0.02 0.30
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126.80 185.00 58.20 0.37 7.78 0.01 0.23
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SA-137 Trench V 19.50 70.50 51.00 0.45 29.34 0.01 0.07
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130.50 143.50 13.00 0.26 6.40 0.01 0.31
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179.00 195.50 16.50 0.23 4.57 0.01 0.63
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SA-139 Trench V 44.00 64.50 20.50 0.05 8.13 0.01 1.92
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100.50 112.50 12.00 0.11 24.35 0.01 0.12
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123.00 125.10 2.10 0.06 10.99 0.05 0.51
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SA-142 Main Zone 49.20 267.00 217.80 0.54 4.35 0.01 0.56
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SA-144 Main Zone 0.00 53.00 53.00 0.47 3.33 0.01 0.37
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167.00 230.30 63.30 0.57 52.08 0.07 0.31
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SA-146 Main Zone 0.00 21.60 21.60 0.32 10.83 0.04 0.09
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48.00 77.00 29.00 0.35 6.74 0.01 0.77
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90.50 156.25 65.75 0.32 3.44 0.01 0.51
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162.25 186.50 24.25 0.58 2.94 0.01 0.22
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SA-147 Main Zone 3.50 30.00 26.50 0.80 4.82 0.01 0.01
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44.60 70.40 25.80 1.45 182.53 0.01 0.01
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SA-148 Main Zone 0.00 11.00 11.00 0.48 8.01 0.05 0.09
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44.00 101.00 57.00 0.28 5.73 0.01 0.42
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113.00 144.00 31.00 0.40 3.07 0.01 0.26
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153.70 178.00 24.30 0.44 5.93 0.01 0.91
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204.70 213.00 8.30 1.01 47.96 0.20 0.47
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SA-149 Zone 4 11.00 17.00 6.00 0.01 1.23 0.02 0.76
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37.00 43.15 6.15 0.23 24.31 0.44 0.66
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75.00 81.00 6.00 0.08 6.37 0.13 0.37
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142.00 148.00 6.00 0.12 10.07 0.06 0.46
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SA-150 Main Zone 20.00 132.00 112.00 0.34 7.64 0.02 0.46
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SA-151 Main Zone 6.00 15.00 9.00 0.58 8.77 0.03 0.01
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23.00 102.00 79.00 0.41 8.29 0.03 0.38
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SA-152 Zone 4 0.00 20.65 20.65 0.21 3.08 0.07 0.45
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78.50 151.50 73.00 0.21 15.64 0.08 0.48
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191.50 197.50 6.00 0.44 13.20 0.05 0.47
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SA-153 Main Zone 20.15 43.00 22.85 0.94 27.98 0.05 0.01
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57.00 66.00 9.00 0.44 17.29 0.03 0.29
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70.00 132.00 62.00 0.40 5.78 0.01 0.77
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138.00 170.15 32.15 0.52 6.01 0.01 0.52
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SA-154 Zone 4 15.00 25.00 10.00 0.53 29.08 0.23 0.03
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47.00 71.00 24.00 0.14 15.77 0.11 1.04
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126.00 190.75 64.75 0.34 15.84 0.07 0.55
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San Agustin Assay Results (Phase II)
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From To Length Au Ag
Hole # Zone (m) (m) (m) (g/t) (g/t) Pb% Zn %
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SA-155 Main Zone 0.00 8.00 8.00 0.56 9.50 0.01 0.03
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14.00 20.00 6.00 0.76 36.83 0.02 0.04
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53.00 58.30 5.30 1.75 10.53 0.01 0.01
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SA-156 Zone 4 2.00 10.90 8.90 0.13 7.59 0.04 0.24
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20.85 31.00 10.15 0.32 22.06 0.24 0.13
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53.00 103.00 50.00 0.34 23.68 0.04 0.34
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113.00 217.00 114.00 0.39 7.28 0.03 0.34
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225.00 238.50 13.50 0.75 25.45 0.11 0.37
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246.50 250.35 3.85 1.80 96.77 0.93 0.79
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SA-157 Zone 4 55.00 114.00 59.00 0.22 4.43 0.01 0.64
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SA-158 Zone 4 34.00 42.00 8.00 0.66 30.18 0.22 0.07
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48.00 102.40 54.40 0.26 23.92 0.23 0.81
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SA-161 Zone 4 No significant results
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SA-162A Zone 4 51.00 57.00 6.00 0.38 20.37 0.04 0.01
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72.00 100.00 28.00 0.27 63.55 0.04 0.65
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SA-163 Zone 4 28.00 40.00 12.00 0.62 20.53 0.19 0.01
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76.00 137.00 61.00 0.36 12.77 0.08 0.90
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159.00 270.50 111.50 0.38 12.34 0.06 0.57
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SA-164 Zone 4 5.00 21.30 16.30 0.64 140.26 0.12 0.01
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39.30 71.80 32.50 0.61 6.93 0.04 0.28
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79.80 130.65 50.85 0.24 6.39 0.03 1.27
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SA-165 Zone 4 0.00 132.00 132.00 0.34 14.56 0.04 0.41
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SA-166 Zone 4 62.00 108.00 46.00 0.22 13.02 0.08 0.51
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118.00 134.00 16.00 0.23 12.66 0.06 0.45
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154.00 177.00 23.00 0.18 13.04 0.02 1.48
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213.00 218.50 5.50 0.22 4.64 0.01 0.39
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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.
This news release does not constitute an offer to sell or a solicitation of an
offer to buy any of the securities in the United States of America. The
securities have not been and will not be registered under the United States
Securities Act of 1933 (the "U.S. Securities Act") or any state securities laws
and may not be offered or sold within the United States or to U.S. Persons (as
defined in the U.S. Securities Act) unless registered under the U.S. Securities
Act and applicable state securities laws, or an exemption from such registration
is available.
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