NEWS RELEASE:
11/16/98 -
Dromedary Drilling Program Completed
GEOLOGIX EXPLORATIONS INC. ("GIX-V")
BLACKSTONE RESOURCERS INC ("BZZ-Y;BKSIF-L") -
Dromedary Drilling Program Completed
D. Bruce McLeod, President of Geologix Explorations Inc. (the
"Company") and Blackstone Resources Inc. ("Blackstone")
announce they have received results from the 1998 drilling
program on the Dromedary Property, Yukon Territory. The property lies fifteen kilometres
northeast of the Clear Lake deposit, which hosts a geological resource of 6.1 million tonnes grading
11.34% zinc, 2.15% lead and 40.8 g/t silver.
The results confirm the presence of two base metal enriched, sulphide horizons in association with a
large, coincident gravity and magnetic anomaly in the east part of the Francois Grid area. Drilling in
1996 on this anomaly intersected ore grade lead and zinc mineralization over narrow intervals
including 8.42% Zn, 2.43% Pb., and 29.8 g/t Ag over 2.0 metres, 5.48% Zn and 6.13% Pb., and
136.7 g/t Ag over 0.8 metres (Upper Zone), as well as precious metal enriched massive sulphides
including 1.22 g/t Au, 5.1 g/t Ag, 0.11% Zn, and 0.13% Pb over 8.6 metres (Lower Zone).
The 1998 drill program consisted of three drill holes totalling of 534.6 metres (1754 ft.). The holes
were designed to test the continuity of mineralization intersected in 1996 on Section 4000 West and
investigate the source of the coincident magnetic-gravity geophysical anomaly. The first hole,
FRN98-05 (Section 4000 West), was drilled to intersect the mineralized horizons down-dip, from
the 1996 holes, whereas the 2nd (FRN98-06, Section 4100 West) and 3rd (FRN98-07, Section
3900 West) holes were drilled as 100 metre step outs to the west and east respectively. All three
holes intersected the mineralized horizons, extending the zones 200 metres in strike and 60 metres
(upper horizon) and 90 metres (lower horizon) down-dip (for a total down dip projection of
approximately 120 metres and 180 metres respectively). Assay results from the 1998 drilling denote
continuity of base and precious metal mineralization similar to that intersected in 1996. Although the
overall tenor of the mineralized intervals is lower, the 1998 results indicate an increase in the
thickness of alteration and sulphide mineralization to the west in both mineralized zones
(FRN98-06). The sulphide horizons are currently open in this direction and down-dip. The sulphide
zones in FRN98-06 are characterized by extremely high magnetic susceptibility and very dense
mineralogy (dominantly pyrrhotite-siderite) which explains the coincident, strong magnetic and
gravity responses in this area. To date, only approximately 300 metres of the greater than 500 metre
extent of this geophysical anomaly has been tested. As well, numerous other similar geophysical
anomalies along the prospective stratigraphic horizon remain to be tested in the Francois Grid area.
The following constitutes a summary of the results from the 1998 drilling program:
Drill Hole From - To (m) Interval Zn Pb Ag Au Comments
(%) (g/t) (g/t) (g/t)
FRN98-05 175.08-177.08 2.00 3.66 0.02 2.3 0.02 Upper Zone
245.30-248.15 2.85 0.08 0.04 5.8 0.25 Lower Zone
250.02-252.07 2.05 0.15 0.39 96.8 0.05
FRN98-06 45.79- 58.52 12.73 0.25 0.16 6.2 n.s. Upper Zone
including 47.79- 46.54 0.75 2.71 0.32 11.0 0.015
And 45.79- 48.80 3.35 0.87 0.22 7.3 n.s.
77.42- 78.00 0.58 3.62 0.42 9.4 0.08
84.10- 94.34 10.24 0.02 0.10 4.22 n.s. Lower Zone
including 84.10- 87.45 3.35 0.02 0.13 3.6 0.66
FRN98-07 72.69- 74.68 1.99 0.16 0.02 1.8 0.01 Upper Zone
82.18- 83.90 1.72 1.01 0.02 1.8 0.01
129.54-131.92 2.38 0.13 0.21 5.5 0.35 Lower Zone
including 130.94-131.92 0.98 0.14 0.25 6.6 0.71
Note: n.s. - not significant
The Company and Blackstone, having just received the 1998 drill results, are conducting further
compilation of the drilling data with previously conducted property-wide geophysics to decide on the
next phase of exploration. TEL: (604) 687-7545
D. Bruce McLeod, President FAX: (604) 689-5041 TEL: (604) 687-9931
Judith H. Vanderzwart, Secretary FAX: (604) 681-7116 |
