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Geologix Explorations Inc. (TSX:GIX,OTCQX:GIXEF,FWB:GF6) reported that out of 656 rock chip samples collected, at Tepal, 68 samples are 217% higher in gold and 233 samples are 1036% higher in silver than the current Measured and Indicated resource grades being used in the prefeasibility study.
As quoted in the press release:
The area called Target Area #3 is located 1 km north of the proposed prefeasibility mill location. Highlight samples from Target Area #3 include 6.88 grams per tonne (“g/t”) gold over 2.0 metres (“m”) and 433 g/t silver over 1.6m. A total of 656 rock chip samples were collected, of which 68 samples are 217% higher in gold and 233 samples are 1036% higher in silver than the current Measured and Indicated (“M&I”) resource grades being used in the prefeasibility study.
Geologix President and CEO Dunham Craig said:
“In previous Tepal surface sampling programs we have not seen results with this density and high levels of gold and silver grades. We are encouraged that we are exposing a new precious metal endowed component of the property’s geological system that has already generated our three resource pits plus the five new 2012 drill targets. We have designed a 50 hole drilling program to test these five new targets with Target Area 3 being an obvious starting priority.”
Click here to read the Geologix Explorations (TSX:GIX) press release
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