Geologix Announces Initial Drill Results From Prospect Drilling at Tepal Project
Published : November 08, 2012
( 0 vote, 0/5 ) Print article
  Article Comments Comment this article Rating Follow Company  
Keywords :   Copper | Dollar | G Mexico | Gold | Market | Mexico | Silver |

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 8, 2012) - Geologix Explorations Inc. (FRANKFURT:GF6)(News - Market indicators)(BERLIN:GF6)(MUN:GF6)(STUT:GF6)(OTCQX:GIXEF) ("Geologix" and the "Company") is pleased to announce initial assay results from the ongoing Reverse Circulation ("RC") drilling program at its Tepal gold-copper project in Michoacán state, Mexico.

The drill program was designed to test several prospective new zones, as outlined through the Company's previously reported geophysical and surface sampling programs. Several holes within Target Area #3 encountered intervals of gold, silver, and copper mineralization, including Hole TEP-12-134 which returned 30.0 metres ("m") grading 0.46 grams per tonne (g/t") gold, 26.8 g/t silver and 0.43 percent ("%") copper (or 1.86 g/t gold equivalent ("AuEq"), and Hole TEP-12-132 which returned 8.0m grading 0.92 g/t gold, 39.1 g/t silver and 0.11% copper (or 1.99 g/t AuEq). Both of the aforementioned intervals were intersected within holes collared drilled in the same areas where previous surface sampling returned individual assays of 6.88 grams per tonne ("g/t") gold over 2.0m and 433 g/t silver over 1.6m (see the attached drill plan map, available at the following link:, or visit the Company's website for more details).

Initial results received from Target Area #3 provided sufficient encouragement to return the drill to the area for further drilling in an effort to better test this prospective target. All intervals reported are above the 2012 Tepal Resource grade cut-off of 0.27 g/t AuEq (US$8.70 dollar value based on $1000 Au and $2.75 Cu - see the Company's news release dated March 27, 2012). Additional assay results will be reported as they become available.

Full details on holes within Target Area #3 are as follows:

Tepal Project - 2012 RC Drilling Program 
          Au Ag Cu AuEq*
Target Area HOLE-ID From To Width g/t g/t % g/t
Area #3 TEP-12-132 28.00 36.00 8.00 0.92 39.1 0.11 1.99
Area #3 TEP-12-133 0.00 16.00 16.00 0.07 3.3 0.13 0.39
Area #3 TEP-12-134 0.00 10.00 10.00 0.16 8.6 0.06 0.46
  and 18.00 48.00 30.00 0.46 26.8 0.43 1.86
  and 82.00 92.00 10.00 0.16 6.2 0.12 0.52
  and 108.00 138.00 30.00 0.17 8.1 0.11 0.56
Area #3 TEP-12-135 0.00 6.00 6.00 0.05 5.6 0.19 0.53
Area #3 TEP-12-136 12.00 44.00 32.00 0.13 5.4 0.16 0.55
  and 82.00 108.00 26.00 0.04 6 0.11 0.38
Area #3 TEP-12-148 14.00 24.00 10.00 0.09 2.4 0.12 0.37
  and 54.00 98.00 44.00 0.06 2.4 0.11 0.32
Area #3 TEP-12-149 6.00 32.00 26.00 0.09 7.2 0.16 0.55
  and 132.00 166.00 34.00 0.07 8.2 0.12 0.48
Area #3 TEP-12-150 34.00 44.00 10.00 0.05 6.4 0.12 0.42
  and 52.00 56.00 4.00 0.48 17.7 0.13 1.11
Area #3 TEP-12-151 8.00 12.00 4.00 0.19 13.2 0.26 0.97

* AuEq based on $1000/oz Au, $22.00/oz Ag and $2.75/lb Cu.

President and CEO, Dunham Craig stated, "After the first pass from our ongoing reverse circulation drilling program, we are encouraged with the drill results from Target Area #3, as there appears to be a mineralizing system worthy of follow up. A second pass of drill holes within the zone is already underway and will help evaluate the nature of what appears to be a new system, separate from the existing resource zones."

Target Area #1 is currently being prospect drilled. No significant values were returned from drilling within Target Areas #2 and #4.

Geologix's Resource Geologist, Andrew Hamilton, B.Sc., P. Geo., a 'qualified person' for the purposes of National Instrument 43-101 Standards of Disclosure for Mineral Properties of the Canadian Securities Administrators, has verified the data (including sampling and analytical data) and prepared the information contained in this news release. All samples were stored at the Company's secure facilities at the Tepal project until driven in Company trucks to the ALS-Chemex sample preparation facility in Guadalajara, Jalisco State, Mexico, with the analytical work being completed at their North Vancouver, B.C. laboratory.

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 recently completed an upgraded resource estimation, which will be the basis of an upcoming pre-feasibility. Field programs at Tepal are ongoing as the Company continues to explore for additional mineralization throughout the property, in an effort to expand the size of the resource and scale of a 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
Geologix Explorations Inc.
Jeffrey Wilson
VP Corporate Communications
604.694.1742 or Toll Free: 1.888.694.1742
Data and Statistics for these countries : Mexico | All
Gold and Silver Prices for these countries : Mexico | All

Geologix Explorations Inc.

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
Projects & res.
Asset profile
Contact Cpy

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

Geologix Expl. holds various exploration projects 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...
11/16/2010Share Price Triggers Warrants' Forced Exercise Provision
8/26/2010Completes $2.3 Million Private Placement
Nominations of Geologix Explorations Inc.
12/31/2010Appoints Mauricio Candiani Galaz to the Board of Directors
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...
11/20/2012(Tepal)Evaluating Project Optimization Processes In Tepal Pre-Feasi...
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...
12/29/2010(Tepal)Expands Land Position at Tepal Project
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
11/8/2010(Libertad)Libertad Drill Results Intersect 94 Metres Of 0.74 Grams Per...
1/17/2011(Tepal)Additional Drilling at Tepal Expands Tizate Zone
1/12/2011(Tepal)Phase 2 Resource Expansion Drilling Commences at Tepal
12/16/2010(Tepal)Tepal Drilling Identifies Significant New Gold and Copper Zo...
10/25/2010(Tepal)Tepal Resource Expansion Drilling Intersects 95 Metres of 1....
10/12/2010(Tepal)Tepal Preliminary Economic Assessment Mine Plan Estimates $3...
9/30/2010(Tepal)Tepal Oxide Cap Metallurgical Test Work Delivers 78.4% Gold ...
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...
3/11/2016Geologix to Trade on TSX Venture Exchange
12/12/2015Geologix's TSX Listing Under Review
12/11/2015TSX Delisting Review - Geologix Explorations Inc. (Symbol: G...
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
7/24/2013(Tepal)Statement Of Tepal Cash Costs To New World Gold Council Stan...
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 $4,059,049 Public Offering
3/5/2010Delivers 2010 Tepal Project Option Payment to Arian Silver
3/4/2010Sets Offering Terms And Files Final Short Form Prospectus
1/29/2010and Arian Execute Definitive Option to Purchase Agreement fo...
1/28/2010Engages Salman Partners for Proposed Financing and Files Pre...
1/21/2010Aquires 100% Interest in Peruvian Properties
1/19/2010Notifies Arian Of Intention To Proceed With Option To Purcha...
11/5/2009Acquires Right To Purchase 100% Interest In The Tepal Gold-C...
2/20/2009to Initiate Aggressive Plan of Acquisition and Development f...
2/10/2009Elects not to Exercise San Agustin Option
9/12/2008to be Featured on Business Television
Comments closed
Latest comment posted for this article
Be the first to comment
Add your comment
CA$ 0.040
03/30 14:27 0.010
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
Explores for Copper - Gold - Lead - Silver - Zinc
Interactive chart Add to compare
Print Compare Export
Last updated on : 2/17/2010
You must be logged in to use the porfolio and watchlists (free)
Top Newsreleases
Annual variation
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 :
announces expected non-cash impairment
AU$ 5.99+0.84%Trend Power :
Oceana Gold(Au)OGC.AX
AU$ 3.55+0.28%Trend Power :
Western Areas NL(Au-Ni-Pl)WSA.AX
Advance Notice - Full Year Results Conference Call
AU$ 3.48-3.33%Trend Power :
Canadian Zinc(Ag-Au-Cu)CZN.TO
Reports Financial Results for Q2 and Provides Project Updates
CA$ 0.16-3.13%Trend Power :
Stornoway Diamond(Gems-Au-Ur)SWY.TO
Second Quarter Results
CA$ 0.43-2.27%Trend Power :
McEwen Mining(Cu-Le-Zn)MUX
US$ 2.14-1.38%Trend Power :
Rentech Announces Results for Second Quarter 2017
US$ 0.20-12.28%Trend Power :
Reduced Funding Requirement
GBX 2.50-3.85%Trend Power :
Lupaka Gold Corp.LPK.V
Lupaka Gold Receives First Tranche Under Amended Invicta Financing Agreement
CA$ 0.19+2.70%Trend Power :
Closes Bridge Loan Financing
CA$ 1.96+0.51%Trend Power :
Guyana Goldfields(Cu-Zn-Pa)GUY.TO
Reports Second Quarter 2017 Results and Maintains Production Guidance
CA$ 4.95+0.61%Trend Power :
Lundin Mining(Ag-Au-Cu)LUN.TO
d Share Capital and Voting Rights for Lundin Mining
CA$ 8.23-0.12%Trend Power :
Canarc Res.(Au)CCM.TO
Canarc Reports High Grade Gold in Surface Rock Samples at Fondaway Canyon, Nevada
CA$ 0.06+9.09%Trend Power :
Q A April 2017 Quarterly Report
AU$ 0.24-3.92%Trend Power :
Uranium Res.(Ur)URRE
Commences Lithium Exploration Drilling at the Columbus Basin Project
US$ 0.50-3.85%Trend Power :
Platinum Group Metals(Au-Cu-Gems)PTM.TO
Platinum Group Metals Ltd. Operational and Strategic Process ...
CA$ 0.12-13.79%Trend Power :
Devon Energy(Ngas-Oil)DVN
Announces $340 Million of Non-Core Asset Sales
US$ 41.10+2.11%Trend Power :
Precision Drilling(Oil)PD-UN.TO
Announces 2017Second Quarter Financial Results
CA$ 8.66-0.35%Trend Power :
2nd Quarter Report
AU$ 0.11-4.35%Trend Power :