TORONTO, ONTARIO ("Geoinformatics" or the "Company") is pleased
to announce that it has received the assay results from its initial
three drill holes on the Stockton Copper-Gold Project ("Stockton")
in Tooele County, near Salt Lake City, Utah.
The three holes intersected widespread copper-gold
mineralization at depth in a quartz-monzonite porphyry (QMP)
setting with the second hole encountering widespread molybdenum
mineralization for the first time in the system. Kennecott
Exploration Company ("Kennecott") previously drilled 16 holes
across the Stockton property, several of which encountered similar
widespread copper-gold mineralization in the same QMP setting.
Highlights
- Hole 2 intersected 517 metres grading 0.23% copper, 0.09
grams/tonne (g/t) gold, 1.08 g/t silver and 0.012% molybdenum
including a higher-grade intersection of:
-- 30.2 metres of 0.50% copper, 0.2 g/t gold, 1.65 g/t silver
and 0.019% molybdenum.
- Hole 1 intersected 270 metres grading 0.26% copper, 0.16 g/t
gold, 1.37 g/t silver including higher-grade intersections of:
-- 16 metres of 0.46% copper, 0.26 g/t gold, and 1.67 g/t
silver;
-- 27 metres of 0.48% copper, 0.23 g/t gold and 1.66 g/t silver;
and
-- 39 metres of 0.34% copper, 0.16 g/t gold and 1.44 g/t
silver.
- Hole 3 intersected 90 metres grading 0.27% copper, 0.20 g/t
gold, and 1.71 g/t silver and 124.6 metres grading 0.23% copper,
0.11 g/t gold, and 1.06 g/t silver and several other mineralized
intervals.
- In addition to the copper-gold-molybdenum porphyry target, it
is believed that the historic shallow mine workings on the property
produced approximately 2.4 million tonnes at average grades of 10%
lead, 8% zinc, 155 g/t silver, 1.2 g/t gold and 0.40% copper, which
have not been explored for many years.
Stockton Drill Results
Kennecott's prior drilling encountered widespread copper-gold
mineralization in quartz-monzonite porphyry rocks with Holes SD15
and SD 16 drilled vertically and intersected the following (see
Figures 1 and 2):
- SD16: 546 metres of 0.29% copper and 0.11 g/t gold (0.35% copper-
equivalent), including a higher-grade section of 85.4 metres of
0.69% copper and 0.24 g/t gold (0.83% copper-equivalent); and
- SD15 277 metres of 0.39% copper and 0.13 g/t gold (0.47% copper-
equivalent).
(See Geoinformatics press release dated August 22, 2007)
Of the holes drilled by Geoinformatics, Hole 2 (STOK 07 02) was
drilled north collared between SD 15 and SD 16 and had the longest
intersection of 517 metres grading 0.45% copper-equivalent which
included the higher-grade intersections of 30.2 metres of 0.90%
copper-equivalent and 29.5 metres of 0.70% copper-equivalent.
Encouragingly, it also drilled the first significant molybdenum
seen in this system.
To view Figure 1 please visit the following link:
http://media3.marketwire.com/docs/figure1gxl.pdf
To view Figure 2 please visit the following link:
http://media3.marketwire.com/docs/figure2gxl.pdf
Hole 1 (STOK 07 01) was drilled in a similar direction to but shallower than
Hole 2 and intersected 270 metres grading 0.44% copper-equivalent including
higher-grade intersections of:
53 metres of 0.53% copper-equivalent, 16 metres of 0.72% copper-
equivalent,
27 metres of 0.69% copper-equivalent; and 39 metres of 0.58% copper-
equivalent.
Hole 3 (STOK 07 03) intersected 90 metres grading 0.45% copper-equivalent
and 124.6 metres grading 0.37% copper-equivalent and several other
mineralized intersections.
Copper-equivalent calculations are based on metal prices of $1.50 per pound
copper, $600 per ounce gold, $12 per ounce silver and $20 per lb. molybdenum
and assume100% metallurgical recoveries and net smelter returns.
Dr. Nick Archibald, Chief Executive Officer of Geoinformatics,
commented, "The initial results from the wide spaced drilling at
Stockton are very encouraging as they have extended the mineralized
system well north from the previous drilling. The information from
this set of drill holes has enabled us to gain a better
understanding of the Stockton copper-gold porphyry and is being
used to complete a detailed 3-D geological deposit model to help
target higher-grade portions of the system for our next drill
program. The molybdenum encountered in the second hole is the first
seen in the system and opens interesting parallels to the Bingham
Canyon deposit".
The Stockton Project
Stockton covers an area of 8.3 sq. km. in total and is located
approximately 15 km. from the Bingham Canyon Mine
(copper-gold-molybdenum) operated by Kennecott Utah Copper Company
on the western side of the Oquirrh Range. The Bingham Canyon mine
has produced more copper than any other mine in the world with over
36 billion pounds of copper produced in over 100 years of
production (source: www.kennecott.com).
To view Figure 3 please visit the following link:
http://media3.marketwire.com/docs/figure3gxl.pdf
In August 2007, Geoinformatics acquired a 100% interest in the
Stockton Project from Kennecott under the terms of the
Geoinformatics - Kennecott Master Strategic Alliance Agreement (the
"Alliance Agreement"). During 2008, Geoinformatics intends to
conduct further exploration on both the copper-gold-molybdenum
porphyry discovery as well as the other base and precious metal
potential on the project. Records indicate that historic mines on
the property produced 2.4 million tonnes at average grades of 10%
lead, 8% zinc, 155 g/t silver, 1.2 g/t gold and 0.40% copper from
high-grade veins.
Table 1. Drill hole intercepts.
----------------------------------------------------------------------------
Cop-
per
Depth Depth Cop- Moly- Equi-
From To Inter- per Gold Silver bdenum valent
Hole ID (metres) (metres) cept (%) (g/t) (g/t) (%) (%)
----------------------------------------------------------------------------
STOK_07_01 367 637 270 0.26 0.16 1.37 0.005 0.44
----------------------------------------------------------------------------
Including (i) 367 420 53 0.27 0.29 0.77 0.006 0.53
----------------------------------------------------------------------------
Including (i) 434 450 16 0.46 0.26 1.67 0.007 0.72
----------------------------------------------------------------------------
Including (i) 483 510 27 0.48 0.23 1.66 0.004 0.69
----------------------------------------------------------------------------
Including (i) 527 529 2 0.34 0.14 1.34 0.005 0.50
----------------------------------------------------------------------------
Including (i) 543 582 39 0.34 0.16 1.44 0.010 0.58
----------------------------------------------------------------------------
----------------------------------------------------------------------------
STOK_07_02 326 843.4 517.4 0.23 0.09 1.07 0.012 0.45
----------------------------------------------------------------------------
Including (i) 343 355.2 12.2 0.48 0.15 1.82 0.015 0.79
----------------------------------------------------------------------------
Including (i) 407 409 2 0.30 0.10 1.71 0.018 0.62
----------------------------------------------------------------------------
Including (i) 473 475 2 0.43 0.16 1.84 0.021 0.82
----------------------------------------------------------------------------
Including (i) 537 539 2 0.42 0.20 2.47 0.008 0.67
----------------------------------------------------------------------------
Including (i) 551.5 581.7 30.2 0.50 0.20 2.31 0.019 0.90
----------------------------------------------------------------------------
Including (i) 667.5 697 29.5 0.39 0.16 1.65 0.015 0.70
----------------------------------------------------------------------------
Including (i) 718 730 12 0.28 0.14 1.55 0.030 0.78
----------------------------------------------------------------------------
Including (i) 744 746 2 0.31 0.14 1.46 0.015 0.61
----------------------------------------------------------------------------
Including (i) 757 768 11 0.31 0.14 1.43 0.005 0.47
----------------------------------------------------------------------------
Including (i) 800 803 3 0.34 0.19 1.74 0.001 0.48
----------------------------------------------------------------------------
Including (i) 833 839 6 0.45 0.20 1.84 0.002 0.61
----------------------------------------------------------------------------
----------------------------------------------------------------------------
STOK_07_03 184.5 187.6 3.1 0.12 0.02 0.96 0.001 0.16
----------------------------------------------------------------------------
201 291 90 0.27 0.20 1.71 0.003 0.45
----------------------------------------------------------------------------
Including (i) 232 281 49 0.36 0.29 2.04 0.002 0.58
----------------------------------------------------------------------------
293 300 7 0.11 0.12 0.92 0.001 0.20
----------------------------------------------------------------------------
432 539.5 107.5 0.18 0.08 0.73 0.006 0.32
----------------------------------------------------------------------------
Including (i) 489 494 5.1 0.47 0.16 1.59 0.025 0.91
----------------------------------------------------------------------------
551 675.6 124.6 0.23 0.11 1.06 0.005 0.37
----------------------------------------------------------------------------
Including (i) 561 603 42 0.29 0.14 1.26 0.007 0.48
----------------------------------------------------------------------------
Including (i) 620.3 623 2.7 0.47 0.23 2.31 0.007 0.72
----------------------------------------------------------------------------
Including (i) 638 657.1 19.1 0.36 0.16 1.40 0.006 0.55
----------------------------------------------------------------------------
688 697.4 9.4 0.15 0.08 0.64 0.001 0.22
----------------------------------------------------------------------------
All intervals calculated using a minimum 1-metre width and 10-metre internal
dilution and based on a cutoff of 0.1% copper except where indicated with
(i) where the intercept is calculated with minimum 1-metre width and 10-
metre internal dilution using a 0.3% copper cut-off. Copper-equivalent
calculations are based on metal prices of $1.50 per pound copper, $600 per
ounce gold, $12 per ounce silver and $20 per lb. molybdenum and assume
metallurgical recoveries and net smelter returns of 100%.
All assays based on half-sawn drill core; shipped to ALS Chemex in
Vancouver, for fire assay for gold (AAu2) and 4-acid digest ICP-AES
(MEICP-61). Assay standards, blanks and duplicates are inserted into the
sample stream to monitor laboratory performance.
Table 2. Drill hole details.
-----------------------------------------------------------------------
Depth Elevation
Hole_ID (metres) Easting Northing (metres) Dip Azimuth
-----------------------------------------------------------------------
STOK_07_01 638.7 386152 4478809 1,700 -60 355
-----------------------------------------------------------------------
STOK_07_02 843.4 386154 4478810 1,700 -75 356
-----------------------------------------------------------------------
STOK_07_03 697.4 386017 4479195 1,709 -75 135
-----------------------------------------------------------------------
All coordinates in geographic NAD27 UTM Zone 12.
Qualified Person
The technical content of this release has been compiled by Mr.
Timothy Master, a Certified Professional Geologist (CPG), and U.S.
Exploration Manager for Geoinformatics. Mr. Master is a Qualified
Person as defined by National Instrument 43-101 ("NI 43-101").
Kennecott - Geoinformatics Alliance Agreement
Stockton falls under the Alliance Agreement between
Geoinformatics and Kennecott. The Company entered into the Alliance
Agreement effective March 2006 under which it has been using its
proprietary geo-science and technology platform (the
"Geoinformatics Process") to successfully identify, prioritize and
drill more than 30 exploration drill targets over the initial two
years of the Agreement. Stockton was acquired as a target-of-merit
under the Alliance Agreement, and Kennecott retains a back-in right
to acquire either a 51% or 60% interest in the Stockton Project
exercisable under certain circumstances. Please refer to
Geoinformatics' press-release dated August 14, 2006, for further
information.
About Geoinformatics
Geoinformatics is a global exploration company which has
developed a unique approach to minerals exploration applying
innovative and proprietary technology.
The Company recently announced an independent NI
43-101-compliant mineral resource estimate with an Indicated
Resource of 840,000 ounces of gold and an Inferred Resource of 2.7
million ounces on the initial discovery zone at the Whistler
Project in southern Alaska. The Indicated category contains 30
million tonnes grading 0.87 g/t gold, 2.46 g/t silver and 0.24%
copper and the Inferred category contains 155 million tonnes
grading 0.62 g/t gold, 2.15 g/t silver and 0.19% copper.
Significant copper and silver mineralization increases the
Indicated gold-equivalent mineral resource to 1.3 million ounces
and the Inferred mineral resource to 4.4 million ounces.
Geoinformatics also 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 same property.
Besides Stockton, Geoinformatics is also actively exploring
several advanced projects located in the Cortez Trend region of
Nevada, the porphyry copper terrains of Eastern Nevada-Arizona-New
Mexico, 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 our recent securities filings available at
www.sedar.com. Actual events or results may differ materially from
those projected in the forward looking-statements and
Geoinformatics cautions against placing undue reliance thereon.
Neither Geoinformatics nor its management assumes any 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. 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 x105
Email: darrenh@geoinformex.com Geoinformatics Exploration Inc.
(Toronto) 330 Bay Street, Suite 1109 Toronto, Ontario M5H 2S8
Geoinformatics Exploration Inc. (Vancouver) 700 West Pender Street,
Suite 304 Vancouver, British Columbia V6C 1G8 Website:
www.geoinformex.com
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