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Geologix Explorations Inc. (GIX:CA)
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Web site:
http://www.geologix.ca/
Geologix Explorations Inc.( TSX: GIX)(the "Company") is a mineral exploration company focused on acquiring, exploring and developing gold properties in North and South America. Our management has a wealth of experience in the mining industry taking early stage exploration prospects to final feasibility and ultimately to production.
South America
Our primary focus in South America is Peru. We are currently exploring three prolific gold bearing regions.
Our Calorco project, located in north-central Peru, is entering into a second phase of drilling which will focus on the results found in hole CA-023 (28.5 - 42 meters (13.5 m) 3.47g/t gold (cut), 4.41 g/t gold (uncut) and 73.5 - 129 meters (55.5m) 1.64 g/t gold). Corresponding silver assays for these intervals are 28.5 - 42 meters (13.5 m), 70 g/t silver (cut), 145 g/t silver (uncut) and 73.5 - 129 meters (55.5m) 62 g/t silver.
In central Peru three properties of merit have been acquired by concession application: Huacullo, Patacorral and Cauhau (100% Geologix). Reconnaissance continues.
Geologix has a 100% interest in 28 mineral concession applications covering 14 precious-metal targets within the Puno Gold Belt located in southern Peru.
North America
Our primary focus in North America is Nevada. We are currently exploring three prospective properties:
- Jersey Canyon
- Silver Cloud
- RO Claims
The Jersey Canyon property, located in the Getchell Trend, north-central Nevada, consists of 131 unpatented lode claims controlled 100% by Geologix (U.S.), Inc. (a subsidiary of the Company). Results from geochemical sampling conducted by Geologix (237 rock and 202 soil samples) have revealed strong gold and silver anomalies within Havallah host rocks in structures and in the vicinity of dikes. Gold concentrations in rocks range from 0.005 g/t to 5.8 g/mt (0.186 opt gold) with higher values being detected within replacement zones in Havallah calcareous host rocks. Silver values are locally exceptionally high (to 1280 g/mt, 41opt silver). Examples of mines within the Jersey Canyon region occurring within similar geological setting include, the Lone Tree (+5 million ozs) and Marigold (+2 million ozs) deposits.
Geologix can acquire a 60% interest from Placer Dome and Teck Resources on the 40 square kilometer Silver Cloud property located in the Northern Nevada Rift and adjacent to Great Basin Gold/Hecla's Ivanhoe Project. Previous drilling on the Silver Cloud property includes intercepts of 1.5 meters of 145 g/t gold, at a depth of 318 metres and 12.2 metres of 5.53 g/t at a depth of 208 metres from separate target areas.
Our one square mile of RO Claims, located in the Battle Mountain-Eureka Trend, covers a buried, pediment target just south of the Sleeper mine.
San Felipe
Several narrow intersections of gold mineralization were hit in the quartzite/sandstone hosts. However, the primary target, envisioned to occur along the main sole of the thrust wedge, was not adequately tested due to depth to the target or holes being lost prior to reaching the target. One hole drilled to test an intrusion-hosted anomaly returned a significant intersection of gold and silver mineralization. Hole 04CA-023 contained two zones of higher grade mineralization within a much broader mineralized interval. The intersections are 1) 28.5 - 42 meters (13.5 m) at 3.47g/t gold (cut), 4.41 g/t gold (uncut) and 70 g/t silver (cut), 145 g/t silver (uncut), and 2) 73.5 - 129 meters (55.5m) at 1.64 g/t gold and 62 g/t silver.
Links:
GIX:CA
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