Geoinformatics Exploration Inc.: Independent 43-101 Technical Report Filed on the Whistler Project
February 25 2008 - 4:22PM
Marketwired
TORONTO, ONTARIO ("Geoinformatics" or the "Company") today
announced that the initial independent National Instrument (NI)
43-101-compliant technical report on the Whistler Zone at its
Alaskan Whistler Project has been filed on SEDAR
(www.sedar.com).
On January 9, 2008, Geoinformatics announced the initial
independent resource estimate on the Whistler Zone which included
an Indicated Mineral Resource of 840,000 ounces of gold and an
additional Inferred Mineral Resource Estimate of 2.74 million
ounces of gold. Significant copper and silver mineralization
increases the gold-equivalent resource to 1.31 million ounces in
the Indicated category and 4.44 million ounces in the Inferred
category.
The Indicated category contains 30 million tonnes grading 0.87
grams per tonne (g/t) gold, 2.46 g/t silver and 0.24% copper and
the Inferred category contains 134 million tonnes grading 0.64 g/t
gold, 2.18 g/t silver and 0.20% copper. The report also contains a
table (Table 16) detailing the larger tonnage and the grade at
various cut-off grades from the global block model developed for
the Whistler Zone, which includes tonnage not incorporated in the
43-101 Resource Estimate.
The resource estimation process highlighted several untested
areas of the Whistler Zone that have the potential to significantly
increase the mineral resource which the Company intends to confirm
with follow-up drilling in 2008. Additional drilling is warranted
to test the depth extension of the higher-grade Main Zones below
the open pit resources with the potential to expand the open pit
resources at depth. Step out drilling is warranted along the
periphery of the deposit to properly close the lateral extensions
of both the lower-grade Whistler Zone and the higher-grade Main
Zone. Infill drilling to a spacing of approximately 90 metres may
allow upgrading parts of the Inferred mineral resources to an
Indicated classification.
The independent resource estimate was compiled by SRK Consulting
(Canada) Inc. ("SRK") and is in compliance with NI 43-101 and
Canadian Institute of Mining (CIM) guidelines for reporting mineral
resources.
The Whistler Project comprises 732 State of Alaska mining claims
covering approximately 440 square kilometers. The Company has
prioritized 15 regional drill targets from a much larger number of
identified targets, most of which have similar geological and
geophysical characteristics to the Whistler Zone. The Company plans
on drilling a number of these targets in 2008.
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 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 was acquired by Geoinformatics as a
target-of-merit under the Alliance Agreement in June 2007, and
Kennecott retains a back-in right to acquire either a 51% or 60%
interest in the project. Please refer to Geoinformatics'
press-release dated August 14, 2006, for further information.
Qualified Persons
The technical content of this release has been reviewed by
Darren Holden, MAusIMM, Executive Vice President - Operations of
Geoinformatics. The resource estimate and technical report for the
project was completed by George Wahl, an Associate Principal
Resource Geologist with SRK and was reviewed by Dr. Jean-Francois
Couture, P.Geo, of SRK. By virtue of their academic backgrounds and
professional experience, Mr. Holden, Mr. Wahl and Dr. Couture are
all "qualified persons" as defined by NI 43-101.
About Geoinformatics
Geoinformatics is a global exploration company which has
developed a unique approach to minerals exploration which applies
innovative and proprietary technology.
Whistler Project is being acquired by Geoinformatics as a
target-of-merit under the Alliance Agreement, and upon
Geoinformatics' completion of its earn-in for the Whistler Project,
Kennecott retains a back-in right to acquire either a 51% or 60%
interest in the project. Please refer to Geoinformatics'
press-release dated June 7, 2007.
Geoinformatics is also actively exploring several advanced
projects located in Mexico, Utah, the Cortez Trend region of
Nevada, and British Columbia. Fourteen Company-owned properties in
the State of Sonora, Mexico, fall under a joint venture in which
Azure Minerals Limited 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 Geoinformatics' securities filings available at
www.sedar.com. Actual events or results may differ materially from
those projected in the forward-looking statements and the reader is
cautioned 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.
Contacts: Geoinformatics Exploration Inc. Mr. Kevin L. Snook
Chairman (416) 861-1300 x226 Email: kevins@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
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