Geologix Explorations Inc.: San Agustin Phase III Drilling Continues to Expand Mineralization Beyond Resource Estimate
10 Giugno 2008 - 1:30PM
Marketwired Canada
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.
Grafico Azioni Geologix Explorations (delisted) (TSXV:GIX)
Storico
Da Giu 2024 a Lug 2024
Grafico Azioni Geologix Explorations (delisted) (TSXV:GIX)
Storico
Da Lug 2023 a Lug 2024
Notizie in Tempo Reale relative a Geologix Explorations (delisted) (Venture Exchange Canada (TSXV)): 0 articoli recenti
Più Geologix Explorations Inc. Articoli Notizie