TORONTO, ONTARIO ("Geoinformatics" or the "Company") is pleased
to announce that it has received further encouraging assay results
for holes 3, 4 and 5 from its 2007 drill program on the Whistler
Project in Alaska.
Highlights:
- Wide mineralized gold intercepts were recorded in Hole 3 which targeted
new western areas of the broader Whistler Zone including:
- 354.6 metres grading 0.38 grams/tonne (g/t) gold and 0.12% copper.
- Significant higher-grade intercepts were recorded in Holes 4 and 5
through previously undrilled sections of the Main Zone including:
- 64 metres grading 1.08 g/t gold and 0.40% copper in Hole 4 within a
longer intersection of 238.7 metres grading 0.64 g/t gold and 0.27%
copper; and
- 54 metres grading 1.52 g/t gold and 0.16% copper in Hole 5 within
180 metres grading 0.84 g/t gold and 0.16% copper.
- The results from Holes 3, 4 and 5 will be used in the calculation of a
43-101 compliant resource estimate for the Whistler Zone being completed
by SRK Consulting (Canada) Inc.
Whistler 2007 Drill Program Results - Holes 3, 4 and 5:
Geoinformatics has now received assay results for Holes 3, 4 and
5 (WH-07-03, -04 and -05) after previously announcing the results
of Holes 1 and 2. The Company drilled seven holes, totaling
approximately 3,300 metres, on the Whistler Zone in 2007. The
results of the remaining two holes are expected within two
weeks.
The primary mineralized system identified to-date at the
Whistler Project is a large gold-copper porphyry known as the
Whistler Zone. The system comes to surface over an extensive area
and has a mineralized envelope confirmed over a projected surface
area of 750 metres by 460 metres and to a depth of 570 metres.
Within this broadly mineralized envelope, the higher-grade Main
Zone extends for 350 metres along strike averaging over 100 metres
in width with mineralization confirmed from surface to depths
between 200 and 570 metres. A plan view of both zones and the
drilling to-date is appended to this press release.
The Company's drilling in 2007 has targeted new areas of both
the Whistler Zone and the Main Zone. WH-07-03 and WH-07-04
completed a four-hole fence across section 6871350N (Figure 1) and
WH-07-05 was drilled further south on section 6871200N (Figure
2).
WH-07-03 targeted an unexplored western section of the
lower-grade Whistler Zone with positive results over a 355-metre
interval. WH-07-04 and WH-07-05 were drilled approximately 150
metres apart to infill sections of the Main Zone. The drill results
shown in Table 1 below confirmed the expected boundaries and grades
of the Main Zone.
Drill hole details are contained in Table 2 appended to this
press release.
To view the Figure 1 2007 Drilling on Cross-section 6871350N
map, please visit the following link:
http://www.ccnmatthews.com/docs/geoinformfig1.pdf.
To view the Figure 2 2007 Drilling on Cross-section 6871200N
map, please visit the following link:
http://www.ccnmatthews.com/docs/geoinformfig2.pdf.
Table 1. Mineralized intercepts for all assays received to-date for the
2007 season (WH-07-01 to WH-07-05) using 0.1 g/t gold, 0.3 g/t
gold and 1.0 g/t gold cut-offs.
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Cut off (minimum
10-metre width
and max 20-metre From To Interval Gold Copper Silver
Drill Hole internal dilution) (metres) (metres) (metres) (g/t) (%) (g/t)
----------------------------------------------------------------------------
----------------------------------------------------------------------------
WH_07_01 0.1 g/t Au 6.0 113.4 107.4 0.38 0.19 1.18
----------------------------------------------------------------------------
0.3 g/t Au 39.0 113.4 74.4 0.47 0.21 0.98
----------------------------------------------------------------------------
----------------------------------------------------------------------------
0.1 g/t Au 177.0 308.2 131.2 0.86 0.25 2.61
----------------------------------------------------------------------------
0.3 g/t Au 182.0 308.2 126.2 0.89 0.26 2.67
----------------------------------------------------------------------------
1.0 g/t Au 182.0 217.0 35.0 1.30 0.44 3.67
----------------------------------------------------------------------------
1.0 g/t Au 289.0 308.2 19.2 1.91 0.39 3.05
----------------------------------------------------------------------------
----------------------------------------------------------------------------
WH_07_02 0.1g/t Au 123.0 588.3 465.3 0.49 0.15 1.05
----------------------------------------------------------------------------
0.3g/t Au 132.0 367.0 235.0 0.44 0.13 0.65
----------------------------------------------------------------------------
0.3g/t Au 399.0 501.0 102.0 0.98 0.26 1.35
----------------------------------------------------------------------------
1.0g/t Au 274.0 285.0 11.0 1.02 0.21 0.72
----------------------------------------------------------------------------
1.0g/t Au 401.0 444.0 43.0 1.70 0.42 2.15
----------------------------------------------------------------------------
----------------------------------------------------------------------------
WH_07_03 0.1g/t Au 296.0 675.4 379.4 0.36 0.11 0.74
----------------------------------------------------------------------------
0.3g/t Au 320.9 675.4 354.6 0.38 0.12 0.74
----------------------------------------------------------------------------
----------------------------------------------------------------------------
WH_07_04 0.1g/t Au 7.0 279.0 272.0 0.58 0.25 1.85
----------------------------------------------------------------------------
0.3g/t Au 20.3 259.0 238.7 0.64 0.27 1.97
----------------------------------------------------------------------------
1.0g/t Au 41.0 105.0 64.0 1.08 0.40 3.05
----------------------------------------------------------------------------
1.0g/t Au 183.0 193.0 10.0 1.13 0.30 2.00
----------------------------------------------------------------------------
----------------------------------------------------------------------------
WH_07_05 0.1g/t Au 5.0 53.0 48.0 0.15 0.11 1.10
----------------------------------------------------------------------------
----------------------------------------------------------------------------
0.1g/t Au 80.0 283.6 203.6 0.75 0.15 2.43
----------------------------------------------------------------------------
0.3g/t Au 100.0 280.0 180.0 0.84 0.16 2.48
----------------------------------------------------------------------------
1.0g/t Au 184.0 238.0 54.0 1.52 0.16 3.52
----------------------------------------------------------------------------
----------------------------------------------------------------------------
0.1g/t Au 304.0 327.0 23.0 0.20 0.04 1.97
----------------------------------------------------------------------------
----------------------------------------------------------------------------
The Main Zone is interpreted to be dipping vertically to 80 degrees to the
west. Therefore, true width is approximately 0.55 to 0.65 of the drill
intercept widths.
Intercept Calculations and Quality Control
All intercepts in Table 1 were calculated using a minimum
10-metre width and 20-metre maximum internal dilution. Intercepts
have been calculated using separate cut-offs of 0.1 g/t gold, 0.3
g/t gold and 1.0 g/t gold. In prior reporting of assay results from
Whistler, the Company has used a 10-metre maximum internal
dilution. However, recent geo-statistical work has resulted in the
determination that 20-metre internal dilution is a more appropriate
factor. Intercepts previously reported for WH-07-01 and WH-07-02
have been recalculated and are also presented in Table 1.
Assayed samples consisted of half-core with 2 to 3-metre average
intervals. All assays were prepared at the Alaska Assay Laboratory
in Fairbanks, and then sent to ALS Chemex in Vancouver for Au-Fire
Assay (Au-AA23) and multi-element analysis (ME-ICP41a). Field
standards and blanks are inserted in the sample stream to monitor
laboratory performance.
About the Whistler Project:
The Whistler Project is located 161 km. northwest of Anchorage,
Alaska and was acquired as a target-of-merit from Kennecott in June
2007 (see "Kennecott - Geoinformatics Alliance Agreement" below).
It encompasses approximately 440 sq. km. in the northeastern end of
the prospective Southern Alaskan Range, which hosts the giant
Pebble copper-gold-molybdenum-silver deposit further to the
southwest.
The project consists of 732 mining claims on state land
designated for mineral exploration and development.
The Whistler Project includes the Whistler Zone, which has been
interpreted from extensive drilling as a large gold-copper porphyry
system, and a significant number of additional regional exploration
targets. These regional targets generally have mineralized
geochemistry samples or geophysical signatures similar to the
Whistler Zone or already have mineralized initial drill holes.
Kennecott - Geoinformatics Alliance Agreement:
All Whistler prospects and properties mentioned in this press
release fall under the Kennecott-Geoinformatics Master Strategic
Alliance Agreement (the "Alliance Agreement"). The Company entered
into the Alliance Agreement with Kennecott effective March 2006
under which it is using its proprietary geo-science and technology
platform (the "Geoinformatics Process") to identify, prioritize and
drill more than 30 exploration drill targets over the initial two
years of the Agreement. The Whistler Project has been accepted by
Geoinformatics as a target-of-merit under the Alliance Agreement.
Under the terms of this Agreement, Kennecott retains a one-time
back-in right or a 2% NSR on a project basis, if the back-in right
is not exercised. Please refer to Geoinformatics' press-release
dated August 14, 2006, for further information.
Qualified Person:
The technical content of this release has been reviewed by
Darren Holden, MAusIMM, Executive Vice President - Operations of
Geoinformatics. Mr Holden is a Member of the Australasian Institute
of Mining and Metallurgy (MAusIMM) and is a qualified person as
defined by National Instrument 43-101.
About Geoinformatics:
Geoinformatics is a global exploration company which has
developed a unique and innovative approach to minerals
exploration.
In addition to the Whistler Project, Geoinformatics is actively
exploring several advanced projects located in British Columbia,
Utah, the Battle Mountain Trend region of Nevada, and the State of
Sinaloa, Mexico. Fourteen Company-owned properties in the State of
Sonora, Mexico, fall under a joint venture in which Azure Minerals
Limited (ASX: AZS) is earning a 51% interest by spending US$4
million. Geoinformatics also has an extensive portfolio of other
direct and indirect property interests, joint ventures, and
royalties covering a wide range of minerals in Mexico, Australia
and New Zealand and North America.
The Geoinformatics Process integrates large-scale data
aggregation, data mining and three-dimensional modeling, and has
been designed to assist in understanding and quantifying risk at a
much earlier stage of the exploration cycle than has traditionally
been available. The Company's objective is to advance its
properties to the stage of commercial development by applying
faster, less expensive and more reliable analytical methods to
resource exploration.
This news release includes certain forward-looking statements
concerning the future performance of Geoinformatics' business,
operations and 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 our 2006 Annual Information Form and other recent
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.
Projected Plan View and Drill Hole Details
The schematic is a projected plan view of the Whistler Zone and
Main Zone and all drilling to-date with drill intercepts greater
than 0.3 g/t gold. Labeled holes were drilled by Geoinformatics in
2007. Other (non-labeled) holes were drilled previously by
Kennecott. High-grade intercepts (greater than 1.0 g/t) within
identified mineralization and additional lower-grade intercepts
(less than 0.1 g/t Au) outside the identified mineralization are
not shown.
To view a map of the Projected Plan view of the Whistler Zone
and Main Zone, please visit the following link:
http://www.ccnmatthews.com/docs/geoinformfig3.pdf
Table 2. Drill Hole Details.
---------------------------------------------------------------------------
Hole Easting Northing Elevation Depth Azimuth Dip
(metres) (metres) (metres) (metres) (degrees) (degrees)
---------------------------------------------------------------------------
WH_07_03 518289 6871357 867 675 092 -60
---------------------------------------------------------------------------
WH_07_04 518776 6871358 868 398 092 -65
---------------------------------------------------------------------------
WH_07_05 518725 6871221 879 400 090 -58
---------------------------------------------------------------------------
The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this release.
Contacts: Geoinformatics Exploration Inc. Dr. Nick Archibald
Executive Vice-Chairman and CEO (416) 861-1300 x224 Email:
nicka@geoinformex.com Geoinformatics Exploration Inc. Mr. Darren
Holden Executive Vice President - Operations (604) 605-3073 x101
Email: darrenh@geoinformex.com Geoinformatics Exploration Inc. 330
Bay Street, Suite 1109 Toronto, Ontario M5H 2S8 Website:
www.geoinformex.com
Galileo Exploration (TSXV:GXL)
Historical Stock Chart
From Nov 2024 to Dec 2024
Galileo Exploration (TSXV:GXL)
Historical Stock Chart
From Dec 2023 to Dec 2024
