Geologix Announced Completion of 5 Holes Totaling Approximately 1,150 metres at Libertad Project and Terminated Option Agreement

Geologix Explorations Inc. (TSX:GIX,FWB:GF6) announced the completion of a second phase drill program consisting of 5 holes totaling approximately 1,150 metres and targeted an untested central portion of a larger structure mineralized at surface.

As quoted in the press release:

 
Despite encountering anomalous gold and silver mineralization in all five holes, and all 15 holes drilled by the Company on the project, results to date do not appear to be consistent with Geologix’s minimum threshold criteria. As such, the Company has elected to terminate its option agreement and is reverting all rights to the Libertad project back to Riverside Resources Inc.

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