Latest Results Show Huge Increase in Geologix’ Resource Estimate

Geologix Explorations Inc.(TSX:GIX) announced the latest resource updates from its Tepal project. The company reported results from 41,247.5 m of drilling during 2011 at the Mexican property. Geologix are aiming to complete a pre-feasibility study by the end of Q2.

As quoted in the press release:

The March 2012 resource estimate now includes results for Ag and Mo in the Tepal North and South Zones which were not consistently assayed in historic drill programs. Infill drilling and the re-assaying of 1688 historic pulps supplied sufficient data to permit Ag and Mo to be estimated for these zones.

Geologix, President&CEO, stated:

Our 2011 work exceeded our target expectations. The 2011 program was designed to drill the existing resource to Measured and Indicated category for inclusion in a prefeasibility study and to test for expansion in areas that were open. We are very pleased with both results and areas remain open for drill testing to examine potential further inclusion in a future definitive feasibility study. This coupled with the recently released new and untested exploration targets, requires the Company to engage in a 2012 drill program to further define the property’s potential.

Click here to read the Geologix Explorations Inc. (TSX:GIX) press release