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Geoinformatics Exploration Inc.

Publié le 13 février 2008

Geoinformatics announces a 43-101 compliant resource statement for the Azulitas Prospect in Mexico

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SHAREHOLDER COMMUNICATIONS                                                   February 13, 2008

 

Dear Geoinformatics Shareholders and Interested Parties:

 

Geoinformatics announces a 43-101 compliant

resource statement for the Azulitas Prospect in Mexico

 

Our last Shareholder Communication two weeks ago introduced a molybdenum-copper-silver-gold discovery at the Los Laureles Prospect on the La Noria Project in Mexico. This came on the back of our announcements detailing the new Falcon molybdenum discovery in British Columbia, and our multi-million ounce gold resource at Whistler, Alaska.  Today, we are pleased to announce the first NI 43-101 compliant resource estimate on the La Noria Project (the same project that contains the Los Laureles prospect) – but on a different prospect – namely the Azulitas Prospect. You can find the full release available for download here: http://www.geoinformex.com/news/PR_Azulitas_Resources_February%2013%202008%20Final.pdf

 

The details on the resource estimate are set out below and in the press release. On the surface of it, the announcement of a 5.6 million tonne resource may be considered modest, but we are excited as the resource statement is a significant step forward on this property.

 

Azulitas is just one small piece of our larger La Noria Project (see map below) in the prospective Sierra Madre in the State of Sinaloa, Mexico, approximately 60 km. northeast of the port of Mazatlan.  La Noria hosts several similar mineralized copper-molybdenum-gold-silver systems:

Los Laureles:

Two weeks ago, we announced a drill hole of a five-hole program that was essentially mineralized its entire length with 107 metres grading 0.12% molybdenum (0.20% MoS2), 0.14% copper, 0.08 g/t gold and 11.9 g/t silver and ending in mineralization.  The first two holes were drilled on the periphery of the deposit but yielded short high-grade intersections.  The final two holes are in the assay lab but we can confirm that we encountered visible chalcopyrite (CuFeS2) and molybdenite (MoS2).   It is early days, but the results suggest that Los Laureles has significant potential.  

La Verde:

La Verde is approximately 1.2 km. southeast of Azulitas.  Three of the four initial drill holes intersected widespread copper-gold-silver with the results from one hole including 76 metres of 0.32% copper, 0.04 g/t gold and 7.22 g/t silver among 122 metres (total) of similarly mineralized intersections.

Amarillito:

The Amarillito Prospect is only 300 metres north-northeast of Azulitas.  The only hole drilled thus far encountered 56 metres of 0.27% copper, 0.03 g/t gold and 9.65 g/t silver which ended in mineralization.

Mozulitas:

The Mozulitas Prospect is only 220 metres north-northwest of Azulitas. The only hole drilled thus far encountered 47.4 metres of 0.12% molybdenum (0.20% MoS2).

Each of these targets and Azulitas itself was identified by significant surface soil and stream sediment geochemistry anomalies.  Many other such anomalies exist on the property.  We feel we have only scratched the surface on this large property holding.

 

 

Figure 2.         La Noria Project Prospect Locations

 

Our objective on this property is to qualify enough of the currently identified mineralized systems into reserves to feed an integrated concentrate-based mining operation.  The La Noria region is already serviced by a road/track system with power lines.  We are within 35 km of a railway and 60 km. of a major port.

 

Sinaloa is a state of Mexico that is considered to have an emergent mining scene.  After many years of low activity, the past few years have seen a resurgence. To our knowledge, there are two small concentrate-based mining operations actually under construction in Sinaloa.  Aurcana Corporation is proposing to develop an underground operation at the Rosario Mine with a reserve of 315,000 tonnes grading 1.0 g/t gold, 2.38% lead, 93.0 g/t silver and 3.49% zinc.  Scorpio Mining Corporation is also developing an underground operation at the Nuestra Senora Mine with a reserve of 1.9 million tonnes grading 0.42% copper, 1.42% lead, 127 g/t silver and 2.97% zinc (source www.intierra.com).

 

By comparison, the Azulitas resource statement issued today contains:

Ø     An Inferred Resource totalling 5.63 million tonnes (Mt) of mineralization grading 0.54% copper, 12.2 grams per tonne (g/t) silver, 0.08 g/t gold and 0.04% molybdenum (0.06% MoS2) that extends from surface to a depth of 220 metres.

Ø      The Resource Estimate contains 67.4 million pounds (Mlbs) of copper, 2.2 million ounces (Moz) of silver, 4.34 Mlbs of molybdenum and 15,200 ounces of gold.

Ø                  The average overall grade of the Inferred Resource is 0.90% on a copper-equivalent basis.

Ø                  A higher-grade molybdenum core contains 1.89 million tonnes grading 0.09% molybdenum (0.15% MoS2).

Azulitas extends from surface continuously to approximately 220 metres, remains open at depth and is steeply dipping, making it potentially amenable to open-pit mining. It is important to note that Mineral Resources, which are not Mineral Reserves, do not have demonstrated economic viability. Under NI 43-101 and CIM guidelines, we can begin economic analysis once the Inferred Resource is upgraded to Indicated or Measured Resource.

Table 1.    Inferred Mineral Resource for the Azulitas Copper-Silver-Gold-Molybdenum Deposit

 

Quantity and Grades

Total Contained Metal

Tonnes

(000s)

Copper Eq. (2)

(%)

Copper

(%)

Gold

(g/t)

Silver

(g/t)

Molybdenum

(%)

MoS2 (3)

(%)

Copper Eq. (2)

(Mlbs)

Copper

(Mlbs)

Molybdenum

(Mlbs)

Gold

(oz)

Silver

(Moz)

5,630(1)

0.90

0.54

0.08

12.2

0.04

0.06

111.3

67.4

4.34

15,206

2.21

1.     The Inferred Resource is presented for a 0.30% copper-equivalent cut-off and includes all blocks from surface to a depth of approximately 220metres.

2.     Copper-equivalent is calculated based on 75% recovery for gold and silver; 85% recovery for copper and molybdenum; $550 per ounce gold, $8 per ounce silver, $1.50 per pound of copper and $10 per pound of molybdenum (oxide).

3.     Molybdenum sulphide (MoS2) is not an estimated field in the block model but is calculated by multiplying Mo% by 1.6681.

 

We still have a drill-rig active on La Noria drilling at Amarillito and are awaiting assay results from the final holes at Los Laureles.  We therefore look forward to keeping you up to date on the results from this exciting project.

 

Should you require any further information, please do not hesitate to contact any one of our management team.

Kind regards,

 

Management Team

 

Geoinformatics Exploration Inc.

www.geoinformex.com

 

This letter and the accompanying news release includes certain forward-looking statements concerning the future performance of Geoinformatics’ business and operations and its financial performance and condition, as well as management’s objectives, strategies, beliefs and intentions.  Forward-looking statements are frequently identified by such words as “may”, “will”, “plan”, “expect”, “anticipate”, “estimate”, “intend” and similar words referring to future events and results.  Forward-looking statements are based on the current opinions and expectations of management.  All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, competitive risks and the availability of financing, as described in more detail in Geoinformatics’ securities filings available at www.sedar.com.  Actual events or results may differ materially from those projected in the forward looking-statements and we caution against placing undue reliance thereon. We assume no obligation to revise or update these forward-looking statements. 

 

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

 

 

 

Geoinformatics Exploration Inc.

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Geoinformatics est une société d’exploration minière d'or et de cuivre basée au Canada.

Geoinformatics est cotée au Canada. Sa capitalisation boursière aujourd'hui est 1,1 millions CA$ (853 600 US$, 713 525 €).

La valeur de son action a atteint son plus haut niveau récent le 11 janvier 2008 à 0,42 CA$, et son plus bas niveau récent le 08 mai 2020 à 0,01 CA$.

Geoinformatics possède 13 040 000 actions en circulation.

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