Geologix Accelerates Programs at Tepal With 7 Drill Rigs
Published : June 13, 2011
( 0 vote, 0/5 ) Print article
  Article Comments Comment this article Rating Follow Company  
0
Send
0
comment
Keywords :   Canada | Copper | G Mexico | Gold | Market | Mexico | Water |

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 13, 2011) - Geologix Explorations Inc. (News - Market indicators)(FRANKFURT:GF6)(BERLIN:GF6)(MUNICH:GF6)(STUTTGART:GF6) (the "Company") is pleased to announce the commencement of multiple accelerated work programs at the Tepal project in Michoacán state, Mexico.

Following the completion of the Company's successful 2010 resource expansion drilling programs and the receipt of the April 2011 Preliminary Assessment report completed by SRK Consulting (Canada) Inc., the Company elected to accelerate the project's development by dual streaming its advancement through initiating prefeasibility programs while continuing to test ongoing resource expansion and exploration drilling targets outside the currently known zones.

A total of seven drill rigs have been contracted and are scheduled to arrive on site in June. It is expected that five of the drills will be allocated to prefeasibility drilling in and around the North, South, and Tizate zones to provide the necessary infill drilling data to bring the current Tepal resource to a Measured and Indicated category as required for prefeasibility. At the same time, the remaining drills will be utilized for ongoing resource expansion and exploration drilling outside the known zones. These drills will then be utilized to test any subsequent targets delineated by this summer's property-wide exploration work.

President and CEO Dunham Craig stated, "The completion of the April 2011 Preliminary Assessment Report was a major milestone for the Tepal Project. It verified favourable assessed project economics of the currently known zones and evidenced to us that Tepal's advancement warranted a dual stream approach with ongoing aggressive exploration and resource expansion work, paralleled by the preparation and commencement of a prefeasibility study to advance toward the permitting stage."

A portion of the upcoming drilling program will provide sampling for advanced metallurgical studies. Major Drilling International Inc. and Intercore Perforaciones S. de R.L. de C.V. have been engaged to complete a total of 40,000 metres of drilling in this extensive 2011 drill campaign. In preparation for this program and ongoing development at the Tepal project, the Company has completed construction of a 60-man full facility camp on site.

In an effort to delineate new targets at Tepal, the Company has initiated property-wide exploration programs aimed at testing nearly 160 square kilometres of previously untested ground. Commencing later this month, the Company will conduct an airborne geophysical survey over the entire 172 square kilometre land package. Silt sampling, prospecting, mapping and soil geochemical grid surveys are already underway over much of the prospective area. Upon compilation of this work, exploration drilling will test any newly delineated targets.

Subsequent to the data cut-off of the last resource estimate, the Company has completed over 10,000 metres of resource expansion drilling at the Tizate Zone and is awaiting final compilation of results.

Exploration is expected to continue for the next 2 years with final environmental impact, archeological, water and prefeasibility engineering studies initiated as part of the preparatory work required for advancing the project towards project financing. The Company expects the drilling and other necessary prefeasibility work to be completed near the end of the first quarter of 2012. The Company has budgeted C$8.0 million for the completion of the prefeasibility programs with additional funding available for future exploration target drilling. Upon successful completion of these programs, the Company will be positioned to submit the necessary permitting applications to the Mexican government.

Geologix Explorations Inc. is a mineral exploration company focused on acquiring, exploring and developing mineral resource opportunities with the potential to host world class mineral deposits. The Company's primary focus is the Tepal Gold-Copper Porphyry Project in Michoacán State, Mexico, where the Company has completed a Preliminary Economic Assessment study ("PEA") of the existing resource and is continuing to aggressively explore for additional gold and copper mineralization in an effort to expand the size of the resource and scale of the possible future mining operation.

The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Geologix Explorations Inc.
Dunham Craig
President & CEO
604.694.1742 or Toll Free: 1.888.694.1742
dcraig@geologix.ca
or
Geologix Explorations Inc.
Jeffrey Wilson
VP Corporate Communications
604.694.1742 or Toll Free: 1.888.694.1742
jwilson@geologix.ca
www.geologix.ca
Data and Statistics for these countries : Canada | Mexico | All
Gold and Silver Prices for these countries : Canada | Mexico | All

Geologix Explorations Inc.

EXPLORATION STAGE
CODE : GIX.TO
ISIN : CA3719391094
Follow and Invest
Add to watch list Add to your portfolio Add or edit a note
Add Alert Add to Watchlists Add to Portfolio Add Note
ProfileMarket
Indicators
VALUE :
Projects & res.
Press
releases
Annual
report
RISK :
Asset profile
Contact Cpy

Geologix Expl. is a zinc and lead exploration company based in Canada.

Geologix Expl. holds various exploration projects in Mexico.

Its main exploration properties are RO PROPERTY in USA, LISCAY, CAYHUA, SAN FELIPE PROPERTY, SURA, TORO BLANCO and LA JOYA PROPERTY in Peru and EL CARMEN PROJECT, LIBERTAD, SILVER CLOUD, LA CASITA, CONSEJO, TEPAL and SAN AGUSTIN in Mexico.

Geologix Expl. is listed in Canada and in United States of America. Its market capitalisation is CA$ 6.5 millions as of today (US$ 5.0 millions, € 4.4 millions).

Its stock quote reached its highest recent level on April 20, 2007 at CA$ 3.20, and its lowest recent point on January 29, 2016 at CA$ 0.02.

Geologix Expl. has 161 942 893 shares outstanding.

Your feedback is appreciated, please leave a comment or rate this article.
Rate : Average note :0 (0 vote) View Top rated
 
Annual reports of Geologix Explorations Inc.
2008 Annual Report
2007 Annual Report
Financings of Geologix Explorations Inc.
7/3/2013Completes $1.0 Million Private Placement
8/6/2012Completes $2.5 Million Private Placement
6/29/2012to Carry Out $2 Million Private Placement
3/1/2011Closes Public Offering for Gross Proceeds of $23,000,736 Inc...
Nominations of Geologix Explorations Inc.
9/24/2009Appoints George Brack as Director
7/2/2009Appoints New VP Corporate Development
10/1/2008Re-Appoints Investor Relations Consultant And Grants Options
6/19/2008Jeff Wilson Appointed Vice President, Corporate Communicatio...
Project news of Geologix Explorations Inc.
5/8/2013(Silver Cloud)Sells Silver Cloud Exploration Property in Nevada to Rimrock...
2/4/2013(Tepal)Tepal PFS Optimization Study Increases Mill Gold Recovery 16...
8/29/2012(Tepal)Commences Drill Program to Test 5 New Target Areas at Tepal
7/16/2012(Tepal)Reports Remaining Tepal Sampling Results and Stregthens Dril...
6/13/2012(Tepal)Outlines New 1800 x 600 Metre Gold And Silver Enriched Zone ...
3/27/2012(Tepal)New Tepal Resource Estimate Increases Measured & Indicated T...
12/9/2011(Libertad)Completes Second Phase Drilling at Libertad Project and Elec...
12/1/2011(Tepal)Audio Interview - Dunham Craig Discusses Tepal Project Progr...
7/14/2011(Libertad)Commences Second Phase of Drilling at Libertad Project
7/5/2011(Tepal)New Tepal Project 3D Animated Drill Tour Video
4/11/2011(Tepal)New Preliminary Assessment Increases Tepal Project Net Posit...
4/11/2011(Tepal)New Preliminary Assessment Increases Tepal Project Net Posit...
4/5/2011(Tepal)Acquires 100% of Tepal Property by Accelerating Final Paymen...
3/20/2011(Tepal)New Resource Estimate Increases Indicated and Inferred Tonne...
2/24/2011(Tepal)Delivers Final Arian Silver Tepal Payment
1/12/2011(Tepal)Phase 2 Resource Expansion Drilling Commences at Tepal
5/3/2010(Libertad)Geophysical Survey Identifies Large Epithermal Precious Meta...
3/23/2010(La Joya Property)Options La Joya Project, Peru To Empresa Minera Los Quenuale...
3/16/2010(Libertad)Trenching At Libertad Project Identifies 1.25 Km Strike Of G...
10/14/2009(Silver Cloud)Acquires 100% Interest In Silver Cloud Property, Nevada
6/22/2009(Libertad)Options Libertad Gold-Silver Property in Sonora, Mexico
12/15/2008(San Agustin)Exercises San Agustin Option and Engages CIBC World Markets ...
8/21/2008(San Agustin) San Agustin Drills Significant Silver Intercept
7/24/2008(San Agustin)San Agustin Step Out Drilling Intersects Significant Mineral...
Corporate news of Geologix Explorations Inc.
7/25/2016Geologix Closes $1,105,000 Unit Offering
6/20/2016Geologix Enhances Management Team And Announces $1,105,000 U...
6/22/2015Geologix Announces AGM Results
12/24/2014Geologix Completes $599,000 Convertible Note Offering
11/12/2014Geologix Update and Private Placement Offer
7/31/2014Geologix Extends Warrants & Reduces Exercise Price
6/27/2014Geologix Announces Results of AGM Voting
5/27/2014Geologix Sells Non-Core Assets to Argonaut Gold Inc.
5/14/2014Geologix Announces Adoption of Advance Notice Policy for Ele...
4/8/2014Geologix's Tepal Project Receives Permit Approval
10/23/2013PROVIDES OPERATIONAL UPDATE
7/24/2013(Tepal)Statement Of Tepal Cash Costs To New World Gold Council Stan...
7/12/2013ANNOUNCES AGM RESULTS
6/17/2013to Carry Out $1 Million Private Placement
5/7/2013(Tepal)Files Tepal Prefeasibility Study Report on Sedar
3/19/2013(Tepal)Announces Results Of Positive Prefeasibility Study At Tepal
11/8/2012(Tepal)Announces Initial Drill Results From Prospect Drilling at Te...
4/5/2012to Commence Trading on the United States' OTCQX on Thursday,...
3/1/2012(Tepal)in The Northern Miner - Geologix Looks at the Bigger Picture...
2/29/2012Acquires Option to Earn 100% of La Carreta Property in Micho...
2/23/2012(Tepal)Airborne Geophysics & Fieldwork Identify Multiple New Drill ...
2/16/2012North Zone Drilling Confirms Higher-Grade Starter Pit-New Re...
2/7/2012Adopts Shareholder Rights Plan
2/4/2012Dunham Craig Provides Company Update in Interview with Al O'...
1/17/2012(Tepal)Tepal Drilling Continues to Extend South Zone at Depth with ...
1/17/2012(Tepal)'s Tepal Drilling Continues to Extend South Zone at Depth Wi...
1/5/2012to be Featured by CEO Clips on the Documentary Channel Start...
12/12/2011(Ro Property)JV Partner CMQ Resources Commences Drilling at Geologix's RO...
12/5/2011(Tepal)Tepal Drilling Extends Tizate Zone at Depth and Encounters M...
12/2/2011Mines & Money London 2011
12/2/2011(Tepal)Completes 1,151 Line Kilometre Airborne Survey And Property-...
10/26/2011(Tepal)Tepal Drilling Extends Depth of South Zone with Elevated Gra...
7/20/2011(Tepal)Drilling at Tepal Expands Tizate Zone With 240 Metres of 0.1...
6/13/2011(Tepal)Accelerates Programs at Tepal with 7 Drill Rigs
8/3/2010Tepal Metallurgical Test Work Delivers Positive Results
4/14/2010Tepal Geophysical Survey Identifies Multiple High Priority D...
3/25/2010Options Peru Properties To Rae Wallace Mining Company
3/8/2010Closes $4,059,049 Public Offering
3/5/2010Delivers 2010 Tepal Project Option Payment to Arian Silver
3/4/2010Sets Offering Terms And Files Final Short Form Prospectus
1/29/2010and Arian Execute Definitive Option to Purchase Agreement fo...
1/28/2010Engages Salman Partners for Proposed Financing and Files Pre...
1/21/2010Aquires 100% Interest in Peruvian Properties
1/19/2010Notifies Arian Of Intention To Proceed With Option To Purcha...
11/5/2009Acquires Right To Purchase 100% Interest In The Tepal Gold-C...
2/20/2009to Initiate Aggressive Plan of Acquisition and Development f...
2/10/2009Elects not to Exercise San Agustin Option
9/12/2008to be Featured on Business Television
Comments closed
 
Latest comment posted for this article
Be the first to comment
Add your comment
TORONTO (GIX.TO)
0.040+14.29%
TORONTO
CA$ 0.040
03/30 14:27 0.010
14.29%
Prev close Open
0.035 0.040
Low High
0.040 0.040
Year l/h YTD var.
 -  -
52 week l/h 52 week var.
- -  0.040 -%
Volume 1 month var.
8,000 -%
24hGold TrendPower© : -3
Produces
Develops
Explores for Copper - Gold - Lead - Silver - Zinc
 
 
 
Analyse
Interactive chart Add to compare
Interactive
chart
Print Compare Export
Last updated on : 2/17/2010
You must be logged in to use the porfolio and watchlists (free)
Top Newsreleases
MOST READ
Annual variation
DateVariationHighLow
 
5 years chart
 
3 months chart
 
3 months volume chart
 
 
Mining Company News
Plymouth Minerals LTDPLH.AX
Plymouth Minerals Intersects Further High Grade Potash in Drilling at Banio Potash Project - Plannin
AU$ 0.12-8.00%Trend Power :
Santos(Ngas-Oil)STO.AX
announces expected non-cash impairment
AU$ 7.82+1.69%Trend Power :
Oceana Gold(Au)OGC.AX
RELEASES NEW TECHNICAL REPORT FOR THE HAILE GOLD MINE
AU$ 2.20+0.00%Trend Power :
Western Areas NL(Au-Ni-Pl)WSA.AX
Advance Notice - Full Year Results Conference Call
AU$ 3.86+0.00%Trend Power :
Canadian Zinc(Ag-Au-Cu)CZN.TO
Reports Financial Results for Q2 and Provides Project Updates
CA$ 0.12+4.55%Trend Power :
Stornoway Diamond(Gems-Au-Ur)SWY.TO
Second Quarter Results
CA$ 0.02+100.00%Trend Power :
McEwen Mining(Cu-Le-Zn)MUX
TO ACQUIRE BLACK FOX FROM PRIMERO=C2=A0
US$ 11.04+1.38%Trend Power :
Rentech(Coal-Ngas)RTK
Rentech Announces Results for Second Quarter 2017
US$ 0.20-12.28%Trend Power :
KEFIKEFI.L
Reduced Funding Requirement
GBX 0.54-2.53%Trend Power :
Lupaka Gold Corp.LPK.V
Lupaka Gold Receives First Tranche Under Amended Invicta Financing Agreement
CA$ 0.06+0.00%Trend Power :
Imperial(Ag-Au-Cu)III.TO
Closes Bridge Loan Financing
CA$ 2.52+6.78%Trend Power :
Guyana Goldfields(Cu-Zn-Pa)GUY.TO
Reports Second Quarter 2017 Results and Maintains Production Guidance
CA$ 1.84+0.00%Trend Power :
Lundin Mining(Ag-Au-Cu)LUN.TO
d Share Capital and Voting Rights for Lundin Mining
CA$ 16.05+2.62%Trend Power :
Canarc Res.(Au)CCM.TO
Canarc Reports High Grade Gold in Surface Rock Samples at Fondaway Canyon, Nevada
CA$ 0.24+2.13%Trend Power :
Havilah(Cu-Le-Zn)HAV.AX
Q A April 2017 Quarterly Report
AU$ 0.19-7.32%Trend Power :
Uranium Res.(Ur)URRE
Commences Lithium Exploration Drilling at the Columbus Basin Project
US$ 6.80-2.86%Trend Power :
Platinum Group Metals(Au-Cu-Gems)PTM.TO
Platinum Group Metals Ltd. Operational and Strategic Process ...
CA$ 1.90+1.60%Trend Power :
Devon Energy(Ngas-Oil)DVN
Announces $340 Million of Non-Core Asset Sales
US$ 51.43-0.46%Trend Power :
Precision Drilling(Oil)PD-UN.TO
Announces 2017Second Quarter Financial Results
CA$ 8.66-0.35%Trend Power :
Terramin(Ag-Au-Cu)TZN.AX
2nd Quarter Report
AU$ 0.03+0.00%Trend Power :