TORONTO, ONTARIO ("Geoinformatics" or the "Company") is pleased
to provide an update on its regional exploration targeting on the
Whistler Project in Alaska following the announcement in January
2008 of an initial independent National Instrument 43-101 resource
estimate on the Whistler Zone. The estimate established 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 Resource consists of 30 million tonnes
grading 0.87 grams per tonne (g/t) gold, 2.46g/t silver and 0.24%
copper and the Inferred Resource consists of 134 million tonnes
grading 0.64g/t gold, 2.18g/t silver and 0.20% copper. In addition,
there is considerable mineralization in the Whistler Zone that has
been identified by drilling, but has not yet been categorized as a
mineral resource.
The Whistler Zone is just one of a cluster of targets within a
440 sq. km. block of 732 State of Alaska mining claims making up
the "Whistler Project" giving the area extensive additional
exploration potential. Many of these targets are covered by shallow
alluvial sediments and do not outcrop, but have comparable
geophysical, geological or geochemical signatures to the Whistler
Zone. The Whistler Project (100% optioned by Geoinformatics) is one
of the largest continuous mineral claim blocks held by a single
explorer in Alaska, outside of existing mines and mine development
projects.
Key Activities
- The key geological settings and geophysical signatures of the
Whistler Zone have been characterized as a guide to further
regional exploration.
- Historic data from Kennecott Exploration Company (Kennecott)
has been synthesized into a three-dimensional regional exploration
targeting database.
- A focus area of approximately 15 km. by 7.5 km. surrounding
the Whistler Zone has been analyzed in detail and hosts a cluster
of at least 50 individual prospective "areas-of-interest", most of
which have not been drill tested.
- Drilling at RainMaker, for example, produced a 184 metre
intersection grading 0.44 g/t gold and 0.16% copper and confirms
that the Whistler Zone is not an isolated occurrence of
mineralization in the region.
- Geoinformatics' proprietary targeting techniques are being
used to establish drill and exploration field work priorities for
the 2008 field season.
- In addition, targets at the Muddy Creek and Island Mountain
Prospects located approximately 16 km. southwest and 20 km.
south-southwest of the Whistler Zone, respectively, have been
reviewed including extensive surface geochemistry anomalies.
"The regional potential of the Whistler Project is extraordinary
and is fast becoming a key focal point for Geoinformatics'
activities," stated Kevin L. Snook, Chairman of Geoinformatics. "A
43-101 multi-million ounce gold resource has been established in
the Whistler Zone already, which has good potential for expansion,
identified by our exploration team and the independent 43-101
technical consultants. The development by our team of a large
number of regional targets that closely resemble the Whistler Zone
opens up the possibility that we may be dealing with a cluster of
deposits that could rival some of the great gold-camps of North
America and the world".
The Whistler Zone as a Guide to Further Exploration
Geoinformatics has analyzed and characterized the extensive
exploration data and the nature of mineralization at the Whistler
Zone as a guide to the identification and prioritization of other
exploration targets in the immediate area associated with the
Whistler Intrusive Suite.
The Whistler Zone's exploration characteristics include:
1. Surface rock-chip samples grading up to 1.59 grams per tonne
(g/t) gold.
2. Outcropping diorite porphyry rocks with hydrothermal
alteration indicative of porphyry-related mineralization.
3. An ovoidal airborne magnetic anomaly (high) indicating the 1
km. by 750 metre extents of a diorite porphyry intrusion hosting
the mineralization.
4. An IP geophysical anomaly with chargeability ranging from 20
to 60 milliseconds (msec.) indicative of elevated disseminated
sulphide mineral content.
To view Figure 1, please visit the following link:
http://media3.marketwire.com/docs/whistlerFigure1.pdf
Regional Porphyry Targeting Process
The northern portion of the Whistler Project (approximately 15
km. by 7.5 km.) is underlain by a large broad-wavelength magnetic
anomaly interpreted to be the main intrusive body at depth in the
Whistler Intrusive Suite and the underlying magmatic source of the
Whistler Zone diorite porphyry. Targeting has focused on ovoidal
magnetic bodies in this area, which are potentially individual
porphyry-related bodies, comparable to the Whistler Zone. In total,
50 such individual areas-of-interest have been identified (Figure
2). Many of these are covered by shallow alluvial gravels and,
hence, cannot be reliably prioritized from surface geochemical
sampling. The Whistler Zone was discovered largely from visible
outcrop. Figure 2 on the following page details the identified
areas-of-interest, all of which are being reviewed and prioritized
to determine the drill testing program for the 2008 season.
To view Figure 2, please visit the following link:
http://media3.marketwire.com/docs/whistlerFigure2.pdf
The areas-of-interest are presented on processed airborne
magnetic data. Shaded purple areas represent distinct magnetic
highs of a comparable magnetic signature to the Whistler Zone.
Nomenclature: "NSI" equals Drilled with No Significant Intercepts.
"Low-level Anomalism" equals 0.05 to 0.1 g/t gold in rock chips.
"Weak IP" equals 5 to 15 msec. IP anomaly; "Moderate IP" equals 15
to 25 msec. IP anomaly. "Strong IP" equals or greater than 30 msec.
IP anomaly. All regional drill hole results are tabulated
(including intercepts) in Geoinformatics' press-release dated June
7, 2007 and are available on Geoinformatics website at
http://www.geoinformex.com/GXL_Home/projects/whistler_regional_data.html
Notable drill targets for 2008 include:
1. Rainmaker - the one previous drill hole returned 184 metres
grading 0.44 g/t gold and 0.16% copper.
2. Round Mountain - a cluster of five magnetic anomalies associated with
a large IP anomaly and rock-chip samples up to
0.4 g/t gold.
3. Raintree - a cluster of four magnetic anomalies associated with
large IP anomalies and a drill intersection of 94.5
metres grading 0.23 g/t gold.
During the 2008 season, Geoinformatics intends to drill test as
many regional targets as possible. Based on prior experience, it
should be possible to drill five targets with a deep coring rig and
test 10 others with a small portable shallow rig.
Other Targets
In addition to the area surrounding the Whistler Zone,
Geoinformatics has also reviewed the Muddy Creek and Island
Mountain Prospects located approximately 16 km. southwest and 20
km. south-southwest of the Whistler Zone, respectively.
Muddy Creek
Muddy Creek is defined by an extensive surface geochemistry
anomaly over an irregularly shaped area (Figure 3), from which 150
rock chip samples averaged 4.72 g/t gold with a peak value of 111.5
g/t. Refer to Geoinformatics' press release dated June 7, 2007 for
details on sampling techniques and results. Mineralization at Muddy
Creek is not porphyry-related, but consists of high-grade quartz
veins associated with an equigranular monzonite intrusion. This
style of mineralization more closely resembles the typical "Tintina
Gold Belt" style found further north in Alaska. Geoinformatics
intends to conduct reconnaissance exploration and possibly drill at
Muddy Creek during 2008.
To view Figure 3, please visit the following link:
http://media3.marketwire.com/docs/whistlerFigure3.pdf
Island Mountain
The Island Mountain Prospect is defined by an extensive surface
geochemistry anomaly and a coincident cluster of magnetic anomalies
covering an area 4.5 km. by 3.2 km (Figure 4). Three
areas-of-interest have elevated geochemistry anomalies, including
an area approximately 2 km. by up to 1 km. with samples averaging
0.61 g/t gold and a peak value of 4.86 g/t gold. An airborne
magnetic survey has a similar response to the Whistler Zone, and
monzonite porphyry rocks have been mapped at surface. Kennecott
completed two shallow holes that failed to adequately test the main
geochemical anomalies, but still intersected gold grades of up to
3.85 g/t and copper grades up to 0.26%. Geoinformatics intends to
conduct reconnaissance exploration and possibly drilling at Island
Mountain during the 2008 season.
To view Figure 4, please visit the following link:
http://media3.marketwire.com/docs/whistlerFigure4.pdf
Historical Information, Intercept Calculations and Quality
Control
In 2007, Geoinformatics completed IP surveys totalling
approximately 13 line km., which complimented the airborne
magnetics and IP surveys completed previously by Kennecott and
Cominco. Geoinformatics is still in the process of completing
detailed regional reconnaissance mapping and sampling and has not
drilled outside the Whistler Zone. Therefore, most of the
information contained in this release was compiled by
Geoinformatics from data obtained from Kennecott. SRK Consulting
(Canada) Inc, an independent consulting company, and Geoinformatics
have reviewed the exploration methods and confirmed that sampling
and drilling methods including quality assurance and quality
control have been collected in accordance with exploration "best
practice" methods. SRK has included this review in their
independent 43-101 technical reports on Whistler Project which are
available on SEDAR at www.sedar.com.
Historical geochemical data, sampling techniques, and drill
results were detailed in Geoinformatics' press release dated June
7, 2007 and is also available on the Geoinformatics website at
http://www.geoinformex.com/GXL_Home/projects/whistler_regional_data.html
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 Person
The technical content of this release has been compiled by
Darren Holden, MAusIMM, Executive, Vice President - Operations of
Geoinformatics and is based in part on historic information
obtained from Kennecott. SRK and Geoinformatics have both reviewed
exploration methods and have confirmed that sampling and drilling
methods including quality assurance and quality control have been
collected in accordance with exploration "best practice" methods.
SRK has included this review in their independent NI 43-101
technical reports which are available on SEDAR at www.sedar.com.
Mr. Holden is a Qualified Person as defined under National
Instrument 43-101 guidelines.
About Geoinformatics
Geoinformatics is a global exploration company which has
developed a unique approach to minerals exploration applying
innovative and proprietary technology.
Geoinformatics published an initial NI 43-101 resource estimate
on the Azulitas Prospect at its La Noria Project in the State of
Sinaloa, Mexico, in February 2008, and has several additional
discoveries on the property. It is also actively exploring several
other advanced projects in 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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