The Conversation (0)
Geologix Explorations Inc. (TSE:GIX) reports the results of a revised resource estimate with the results from its drilling Tepal project in Michoacán state, Mexico.
The results of the SRK resource estimate indicate an increase in the resource of 131% in Indicated tonnes, and an increase of 69% in Inferred tonnes.
Geologix’s President and CEO, Dunham Craig says:
“We are very pleased with this updated resource estimate, as it evidences an increase in tonnes, gold ounces, and copper pounds in both the Indicated and Inferred categories, yet is only reflective of results from the Company’s first phase of drilling on the project. A second phase of resource expansion drilling is currently underway, with a specific focus on the Tizate zone. Additional drilling results from this program and the completion of an updated PEA are expected this spring, in advance of a pre-feasibility program proposed to commence before the summer.”