Geologix Explorations Inc.: San Agustin Phase III Step Out Drilling Extends Width and Strike
28 Avril 2008 - 3:13PM
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/2008-04-28_NR.pdf
Geologix Explorations Inc. (the "Company") is pleased to announce that Phase III
drilling on the property is expanding zones both in width and strike. A
significant number of holes in Phase III have ended in mineralization up to a
depth of 350 metres. The company is currently commencing deeper drilling in
these areas.
Highlight intervals include:
- SA-182: 312.90 metres assaying 0.49 g/t Au, 23.12 g/t Ag, 0.15% Pb, 0.81% Zn
including 94.85 metres assaying 0.54 g/t Au, 27.15 g/t Ag, 0.23% Pb, 1.25% Zn
- SA-184: 206.50 metres assaying 0.57 g/t Au, 13.96 g/t Ag, 0.06% Pb, 0.93% Zn
- SA-185: 127.80 metres assaying 0.29 g/t Au, 19.80 g/t Ag, 0.12% Pb, 0.91% Zn
Drill holes SA -179 to SA-182 and SA-184 to SA-185 have widened Zone 2 from a
previous width of approximately 200-250 metres to a Phase III width of over 425
meters, doubling the width. The mineralizing zone remains open in all
directions. Please refer to the sections and plan map attached to this press
release. (Click Here for Link, http://www.geologix.ca/i/pdf/2008-04-28_NRM.pdf)
Dunham Craig, President and CEO stated: "Step out drilling is meeting our
expectations of expanding the deposit to quantify an increasingly larger tonnage
polymetallic deposit. Phase II drill results have been delivered to Wardrop
Engineering for a first pass resource calculation. Our current focus is to
expand the Phase II area for a second resource calculation in the 3rd quarter of
this year. We knew we had discovered a very big mineralizing system a year ago
but we continue to be very pleased by the continuity and success of the
expansion drilling."
Northwest post mineral faulting slightly offsets portions of the zones in the
deposit. We were very pleased to intercept 47.00 meters of mineralization in the
bottom in SA-169 assaying 0.23g/t Au,30.65g/t Ag, 0.20% Pb, 0.84% Zn located 125
meters southwest of Zone 2 indicating the zone slightly offsets northward in
this direction.
Step out drilling in Zone 3 to the northwest (SA-173,174,176 &178) was designed
to test relatively narrow known vein structures to evaluate if a higher grade
underground target was worthy of evaluation. Results indicate this is not a
viable target and future drilling will focus on bulk tonnage style
mineralization.
San Agustin Drill Results (Phase III)
---------------------------------------------------------------------------
Total From To Length Au Ag
Hole # Zone (m) (m) (m) (m) (g/t) (g/t) Pb% Zn%
---------------------------------------------------------------------------
SA-169 Phase III 200.00 84.00 131.00 47.00 0.23 30.65 0.20 0.84
---------------------------------------------------------------------------
SA-170 Phase III 200.00 No Significant Results
---------------------------------------------------------------------------
SA-171 Phase III 188.85 157.00 188.85 31.85 0.08 12.95 0.12 0.59
---------------------------------------------------------------------------
SA-172 Phase III 200.05 0.00 17.00 17.00 0.07 13.92 0.02 0.49
---------------------------------------------------------------------------
134.00 142.00 8.00 0.17 34.13 0.04 0.10
---------------------------------------------------------------------------
176.00 182.00 15.00 0.17 26.02 0.08 0.10
---------------------------------------------------------------------------
SA-173 Zone 3 200.65 96.00 100.00 4.00 0.39 32.75 0.16 0.02
---------------------------------------------------------------------------
SA-174 Zone 3 200.65 150.00 163.35 13.65 1.16 17.55 0.03 0.11
---------------------------------------------------------------------------
SA-175 Phase III 200.00 No Significant Results
---------------------------------------------------------------------------
SA-176 Phase III 200.45 No Significant Results
---------------------------------------------------------------------------
SA-177 Phase III 200 8.15 31.5 23.35 0.49 27.37 0.16 0.76
---------------------------------------------------------------------------
and 69 88.2 19.2 0.30 122.52 0.12 0.10
---------------------------------------------------------------------------
SA-178 Phase III 200.05 No Significant Results
---------------------------------------------------------------------------
SA-179 Zone 2 366.15 0.00 366.15 366.15 0.24 19.75 0.14 0.48
---------------------------------------------------------------------------
including 11.95 22.00 10.05 0.70 6.46 0.02 0.11
---------------------------------------------------------------------------
including 34.20 70.95 36.75 0.21 34.33 0.80 0.14
---------------------------------------------------------------------------
including 79.05 170.00 92.95 0.21 20.72 0.17 0.51
---------------------------------------------------------------------------
including 184.00 203.25 19.25 0.17 7.30 0.06 0.49
---------------------------------------------------------------------------
including 211.15 351.90 140.60 0.30 23.78 0.21 0.75
---------------------------------------------------------------------------
SA-180 Zone 2 350.00 0.00 350.00 350.00 0.23 15.72 0.14 0.50
---------------------------------------------------------------------------
including 33.00 51.00 18.00 0.15 40.02 0.43 0.07
---------------------------------------------------------------------------
including 70.00 254.00 184.00 0.21 19.28 0.17 0.43
---------------------------------------------------------------------------
including 272.00 350.00 78.00 0.44 9.76 0.06 1.08
---------------------------------------------------------------------------
SA-181 Main Zone 250.00 157.50 187.60 30.10 0.25 11.06 0.04 0.74
---------------------------------------------------------------------------
SA-
182(i) Zone 2 356.90 44.00 356.90 312.90 0.49 23.12 0.15 0.81
---------------------------------------------------------------------------
including 157.15 252.00 94.85 0.54 27.15 0.23 1.25
---------------------------------------------------------------------------
SA-183 Zone 4 194.65 49.60 63.10 16.20 0.16 10.71 0.12 0.43
Ext
---------------------------------------------------------------------------
164.55 194.65 30.10 0.06 8.54 0.07 0.39
---------------------------------------------------------------------------
SA-
184(i) Zone 2 374.50 43.00 54.50 11.50 0.17 2.42 0.05 0.40
---------------------------------------------------------------------------
76.00 131.15 55.15 0.21 14.86 0.09 0.29
---------------------------------------------------------------------------
168.00 374.50 206.50 0.57 13.96 0.06 0.93
---------------------------------------------------------------------------
SA-
185(i) Zone 2 207.80 60.00 70.00 10.00 0.74 8.42 0.08 0.09
---------------------------------------------------------------------------
80.00 207.80 127.80 0.29 19.80 0.12 0.91
---------------------------------------------------------------------------
(i)Section Attached to this Press Release
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.
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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