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Geologix Explorations Inc. (TSX:GIX,FWB:GF6) announced initial results from the current resource expansion and infill drilling programs at its Tepal property in Michoacán state, Mexico.
As quoted in the press release:
Results are highlighted by hole TEP-11-012, which intersected 279.45 metres (m) grading 0.54 grams per tonne (g/t) gold and 0.26 percent (%) copper, including 102.45 m grading 0.86 g/t gold and 0.38% copper. A higher grade interval within the hole returned 67.55 m grading 1.01 g/t gold and 0.42% copper. This hole was drilled at the south end of the South Zone and extended the depth of the mineralization an additional 75 metres below the lowest point of the April 2011 NI-43-101 resource outline, and remains open (see drill section) (see news release dated April 11, 2011). Furthermore, the 0.86 g/t gold and 0.38% copper returned in the 102.45 m interval represent grades approximately double the average South Zone grades of 0.41 g/t gold and 0.22% copper in the April 2011 NI 43-101 Preliminary Assessment mine plan.
Geologix Explorations President & CEO, Dunham Craig stated:
“We are pleased with the initial South Zone results as they fulfill our targets of expanding the deposit’s size potential, encountering higher than average grades over sizable widths, and confirming the potential to upgrade the resource to a higher mineral category in preparation for a new resource to be used in a pre-feasibility study. We’re specifically pleased with the depth extension and higher grades encountered in hole TEP-11-012, as it’s the first reported hole to test beneath the previous resource boundary. With over 140 holes yet to be reported from this program, these early results give us encouragement for the potential to identify additional mineralization at depth in subsequent holes yet to be reported from the South and North zones.”
Click here to read the Geologix (TSX:GIX,FWB:GF6) press release.
