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Consejo / El Carmen

Summary
Location: Durango State, Mexico. Property is located 1 hour driving time (85 kilometres) north of Durango, Durango via paved road.
Communities: The property is cattle range land with no communities or residents on the project. The nearest community of San Agustin (population 230) is 6 kilometres south. The town of San Juan Del Rio (population 2500) is 12 kilometres due east. Durango (population 570,000 ) is 85 kilometres south.
Infrastructure: National Grid power lines and paved road are 6 kilometres east of the property. The Peņoles Zinc smelter is a 4 hour drive by paved road to the east. The Mexican government is completing a super highway to the coast city of Mazatlan which provides a seaport shipping alternative to off shore smelters.
Properties: Consejo Claim - 400 hectares. Optioned from private Mexican land holder
Ownership: Consejo Option (for 100% -see below for option details)
Royalties: No royalties



Details of the Consejo Property

The property covers an area of 400 hectares and adjoins the western boundary of the San Agustin project. The geology is similar to the geology observed on the San Agustin project with Tertiary sub-volcanic dacite domes intruding Cretaceous aged sedimentary rocks. Similarly the strong northeasterly and northwesterly trending structures, noted both regionally and within the San Agustin deposit, are also present on the Consejo property, associated with zones of high grade Au-Ag-Pb-Zn mineralization.

Work carried out by Geologix in 2008 consisted of geophysics (IP), geological mapping and rock sampling. The geophysics readily outlines the underlying dacite dome complex and when combined with the known structural zones and alteration, outlines exploration targets with bulk tonnage potential.

Historical work on the property was conducted by Consejo de Recursos Nacional CONSEJO (an agency of the Mexican Government) between 1981 and 1985 and consisted of trenching (283m), channel sampling (872m), diamond drilling 1,429.70m - 12 holes) and 151.50m of underground development. In 1985 CONSEJO calculated resources on the property as follow:

  Tonnes Gold
(grams/tonne)		 Silver
(grams/tonne)		 Lead
(%)		 Zinc
(%)
Oxides 6,364 1.36 225.14 -- --
Sulphides 38,222 0.88 1,041.00 5.0 % 3.5%

The CONSEJO resource report does not provide sufficient information for Geologix to determine how the resource compares to the various types of mineral resources referred to in National Instrument 43-101 Standards of Disclosure for Mineral Projects of the Canadian securities administrators and also does not conform to any categories in National Instrument 43-101. Nevertheless, Geologix believes that the estimate is relevant as it shows significant grades of mineralization on the property which are similar to those encountered on the San Agustin project. Furthermore, Geologix believes that the estimate is reliable as it was prepared by CONSEJO, a respected mining development agency. Notwithstanding, Geologix cautions that a qualified person has not done sufficient work to classify the historical estimate as current mineral resources or mineral reserves under National Instrument 43-101 and Geologix is not treating the historical estimate as current mineral resources or mineral reserves. In light of that, the historical estimate should not be relied upon.


Consejo Option

Geologix has entered into an agreement to acquire a 100% interest in the Consejo Property from a private land owner. The option calls for cash payments of US$120,000 over a 5 year period. There are no work commitments or any additional payments associated with the option. There are no royalties associated with the option.

El Carmen

 Summary 
Location: Durango State, Mexico. Property is located 1 hour driving time (85 kilometres) north of Durango, Durango via paved road.
Communities: The property is cattle range land with no communities or residents on the project. The nearest community of San Agustin (population 230) is 6 kilometres south. The town of San Juan Del Rio (population 2500) is 12 kilometres due east. Durango (population 570,000 ) is 85 kilometres south.
Infrastructure: National Grid power lines and paved road are 6 kilometres east of the property. The Peņoles Zinc smelter is a 4 hour drive by paved road to the east. The Mexican government is completing a super highway to the coast city of Mazatlan which provides a seaport shipping alternative to off shore smelters.
Properties: El Carmen - Optioned from private Mexican land holder
Ownership: El Carmen Option (for 100% -see below for option details)
Royalties: No royalties


Introduction

An option agreement was executed in December 2007 for El Carmen which is located adjacent and east of the San Agustin concessions. The option agreement calls for property payments of US$300,000 over a four (4) year term with no required work commitments. The option was entered into with a private owner based on favourable geology on the property and a potential to host mineralization similar to the mineralization observed on the San Agustin property. No exploration activity was conducted on the property in the first two quarters of 2009 and the property is held in inventory and concessions are being kept in good standing.

Option Terms

Pursuant to the terms of the agreement, the Company will pay US$300,000 over a four year period as follows:

Date Payment amount
On Signing US$ 35,000 (paid)
1st Anniversary 50,000 (paid)
2nd Anniversary 60,000
3rd Anniversary 70,000
4th Anniversary 85,000
Total US$ 300,000
Maps & Figures

None available

Technical Reports

There are no Technical Reports on this Project at this Time.

Drill Results