|December 05, 2011|
Tepal Drilling Extends Tizate Zone at Depth and Encounters Multiple Higher Grade Gold Intervals Including 0.32 G/T Gold over 232 Metres
Vancouver, BC, December 5, 2011 -- Geologix Explorations Inc. (TSX:GIX) (the "Company") is pleased to announce additional assay results from the Company's resource expansion and infill drilling program completed at its 100% owned Tepal gold-copper project in the state of Michoacán, Mexico.
Initial assay results from the project's Tizate Zone have achieved the program's three main objectives:
Au = gold, Cu = copper, Ag = silver, *AuEq g/t = gold equivalent based on metal prices of $1,000 Au, $2.75 Cu, and $16 Ag.
A complete table of assay results received to date from the 29 holes drilled at Tizate in this program, as well as a plan map and drill section, can be found on the Tepal Project page of the Company's website (www.geologix.ca). Remaining assay results from the balance of the Tepal drilling will be reported as they become available.
Dunham Craig, President & CEO stated, "We are pleased with the first results from the Tizate Zone drilling as once again drill results from this important program are meeting our main objective to achieve the necessary drill density to upgrade the resource category in an updated resource estimation for a pre-feasibility study. We are equally pleased to see several intersections of elevated gold grades within the central portion of Tizate. We're also encouraged by depth extension results from holes TIZ-11-062, TIZ-11-063, TIZ-11-065, that appear to be expanding the mineralization at depth with higher than average grades. These latest results combined with the 37 resource expansion holes drilled at Tizate earlier in the year (subsequent to the April 2011 PEA and reported in news release dated July 20, 2011) give us encouragement for the potential to expand Tizate."
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 Michoacán State, Mexico, where the Company has completed a Preliminary Economic Assessment study ("PEA") 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.
President & CEO
VP Corporate Communications
Toll Free: 1.888.694.1742
The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
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