Geologix Explorations Inc.: San Agustin Phase III Step Out Drilling Doubles Width in Zone 2
Mon May 12, 8:37 AM
ca.news.finance.yahoo.com
VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 12, 2008) - Geologix Explorations Inc. (TSX VENTURE: GIX.V)(FRANKFURT:GF6)(BERLIN:GF6)(STUTTGART:GF6)(MUNICH:GF6) -
To View News Release and Maps in PDF Format, please click the following link: media3.marketwire.com
Geologix Explorations Inc. (the "Company") is pleased to announce that Phase III drilling has doubled the width of Zone 2 from 250 metres to 500 metres on Section 350, (Click here for Link, media3.marketwire.com which remains open in all directions. The Phase III drill holes on Section 350 have increased the area of mineralization by 175% on this section relative to Phase II drilling and the results confirm that grade is increasing with depth. The Company is currently commencing deeper drilling in these areas as holes end in strong mineralization. Please see the Company's website at www.geologix.ca for a full set of plan maps and sections.
Dunham Craig, President and CEO stated: "We are extremely pleased with the Phase III expansion drilling on the project. Considering our company began receiving new drill results only one year ago, we are impressed with how the mineralization is rapidly expanding and showing very good continuity. Our past years work is currently undergoing a new resource calculation up to the end of Phase II drilling and we look forward to upgrading this preliminary resource with the Phase III results later in the year."
Section 350 new results:
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San Agustin Assay Results (Phase III Expansion)(i)
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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-186 Zone 2 0.00 294.30 294.30 0.46 15.36 0.10 0.53
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including 30.70 56.00 25.30 0.29 19.98 0.03 0.08
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including 116.00 294.30 178.30 0.62 19.62 0.13 0.81
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SA-187 Zone 2 0.00 350.40 350.40 0.25 24.05 0.16 0.84
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including 0.00 151.00 151.00 0.23 27.43 0.15 0.46
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including 161.70 176.85 15.15 0.27 28.27 0.07 0.44
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including 194.00 338.00 144.00 0.31 25.19 0.22 1.49
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(i) Section 350 holes SA-125, SA 133 & SA-184 were previously released
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.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Contacts
Michael Mallard
Geologix Explorations Inc.
Corporate Communications
(604) 616-1195 or Toll Free in Canada & USA: 1-888-694-1742
Email: mmallard@geologix.ca
Dunham Craig
Geologix Explorations Inc.
President & CEO
(604) 694-1742 or Toll Free in Canada & USA: 1-888-694-1742
Email: dcraig@geologix.ca
Website: www.geologix.ca |
