Geologix Drilling at Tepal Expands Tizate Zone With 240 Metres of 0.18 g/t Gold and 0.20% Copper
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 07/20/11 -- Geologix Explorations Inc. (TSX: GIX)(FRANKFURT: GF6)(BERLIN: GF6)(MUNICH: GF6)(STUTTGART: GF6) (the 'Company') is pleased to announce that results from its resource expansion drilling programs at its 100% owned Tepal property in Michoacan state, Mexico, have significantly expanded the area of mineralization at the project's Tizate zone.
The recently completed 2011 drilling at Tizate consisted of over 11,000 metres and 37 diamond drill holes. Using the cut-off from the April 2011 Preliminary Assessment report ('PA') by SRK Consulting (Canada) Inc. (see the Company's SEDAR filing dated April 29, 2011), the Company focused on resource expansion drilling to expand the Tizate zone beyond the previous outline of 400 metres by 700 metres. Step out drilling to identify the limits of the zone have now successfully extended the mineralization at Tizate to an outline measuring 1.2 kilometres by 500 metres. See the PDF version of this release or the Company's website for accompanying Tizate plan maps.
Dunham Craig, President & CEO stated, 'We are pleased with the results of the latest Tizate drill program. Not only did we identify additional mineralization well outside the previously known limits and substantially increased the area of the mineralized Tizate zone, but many of the recent holes intersected mineralization at, or very near surface. In addition, several holes encountered wide intersections of mineralization well in excess of the PA cut-off grade. These are important, positive criteria in developing and expanding these types of porphyry systems.'
Highlight intersections, and accompanying comments on significance are as follows:
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Au Ag Cu Mo
Hole Id From To Length (g/t) (g/t) (%) (%)
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TIZ-11-035 0.00 63.00 63.00 0.27 5.1 0.24 0.007
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TIZ-11-037 0.00 63.10 63.10 0.23 3.9 0.20 0.001
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Significance: Higher grades than resource average. Mineralization begins at
surface.
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TIZ-11-006 182.00 255.00 73.00 0.13 2.9 0.20 0.007
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TIZ-11-017 60.40 301.04 240.65 0.18 2.3 0.20 0.007
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Significance: Substantial intersection of mineralization. Mineralized to
significant depth.
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TIZ-11-023 0.00 97.75 97.75 0.17 1.4 0.20 0.007
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TIZ-11-027 0.00 42.00 42.00 0.15 1.4 0.16 0.003
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TIZ-11-025 6.00 106.80 100.80 0.08 1.2 0.19 0.006
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Significance: Mineralize from/near surface. Extends mineralized zone to the
Southwest.
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TIZ-11-019 87.00 148.55 61.55 0.15 1.3 0.18 0.010
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TIZ-11-021 123.90 229.00 105.10 0.16 1.5 0.20 0.010
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Significance: Extends mineralized zone to the Southwest.
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TIZ-11-007 0.00 41.00 41.00 0.08 3.3 0.15 0.006
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Significance: Mineralize from/near surface. Extends mineralized zone to the
Northeast.
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TIZ-11-011 5.25 100.95 95.70 0.21 1.4 0.13 0.007
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Significance: Mineralize from/near surface
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TIZ-11-003 25.90 154.00 128.10 0.13 3.2 0.20 0.010
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TIZ-11-013 76.80 173.40 96.60 0.13 2.4 0.16 0.008
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TIZ-11-013 218.00 320.00 102.00 0.14 4.0 0.22 0.011
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Significance: Extends mineralized zone to the Northeast.
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Note: Au = gold, Ag = silver, Cu = copper, Mo = molybdenum, g/t = grams per
tonne, % = percent.
As recently reported, exploration and development programs at Tepal are ongoing. With 7 drill rigs currently active on site, the Company continues its efforts to identify additional mineralization throughout the project, while advancing multiple currently known zones (North, South, and Tizate) toward prefeasibility. The Company expects additional drilling within the Tizate zone later in the year in order to bring the newly expanded zone into a subsequent resource estimation.
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 and analytical data) and prepared the information contained in this news release. All samples were collected from the project by ALS-Chemex, and taken to their sample preparation facility in Guadalajara, Jalisco State, Mexico, with the analytical work being completed at their North Vancouver, B.C. laboratory. A QA/QC program has been implemented to ensure all core and sample handling procedures are in accordance with the best possible practices. The assay protocol includes the insertion of standards, blanks and duplicates into the sample stream.
Geologix Explorations Inc. is a mineral exploration company focused on acquiring, exploring and developing mineral resource opportunities with the potential to host world class mineral deposits. The Company's primary focus is the Tepal Gold-Copper Porphyry Project in Michoacan State, Mexico, where the Company has completed a Preliminary Assessment study ('PA') of the existing resource and is continuing to aggressively explore for additional gold and copper mineralization in an effort to expand the size of the resource and scale of the possible future mining operation.
To view the Drill Plan map accompanying this press release, please click on the following link: http://media3.marketwire.com/docs/gix720i.pdf
The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Contacts:
Geologix Explorations Inc.
Dunham Craig
President & CEO
dcraig@geologix.ca
Geologix Explorations Inc.
Jeffrey Wilson
VP Corporate Communications
jwilson@geologix.ca
Geologix Explorations Inc.
604.694.1742 or Toll Free: 1.888.694.1742
www.geologix.ca