Geoinformatics Exploration Inc.: Drilling at La Noria Returns High-Grade Molybdenum Intersection
April 08 2008 - 4:01PM
Marketwired Canada
Geoinformatics Exploration Inc. (TSX VENTURE:GXL) ("Geoinformatics" or the
"Company") is pleased to announce that it has received positive assay results
from recent drilling at the Mozulitas ("Mozulitas") and Amarillito
("Amarillito") prospects on the La Noria Project ("La Noria") in the State of
Sinaloa, Mexico.
The latest drilling returned numerous high-grade intersections, one of which
included 0.32% molybdenum across 12 metres at Mozulitas. Mozulitas is the latest
of three prospects at La Noria with high-grade drill intercepts. The nearby
Azulitas Prospect ("Azulitas") hosts a recently-announced National Instrument
(NI) 43-101 poly-metallic (copper-silver-molybdenum-gold) Mineral Resource.
Highlights
- Hole DDLN_08_02 on Mozulitas intersected:
-- 57 metres grading 0.10% molybdenum (0.17% MoS2) and 0.08% copper.
including a high-grade zone of 12 metres grading 0.32% molybdenum
(0.53% MoS2).
- The assay results from this hole extend the mineralization at
Mozulitas for a minimum 75-metre strike length with the deposit
being open in all directions.
- Hole DDLN_08_01 on Amarillito intersected:
-- 65 metres grading 0.31% copper and 11.6 g/t silver,
including a higher-grade zone of 18 metres grading 0.54% copper and
20.7 g/t silver.
- Exploration to-date at La Noria has identified a cluster of at least
three separate high-grade discoveries including the NI 43-101-compliant
resource at Azulitas that collectively may have the potential to support
an integrated mining operation.
Mozulitas Prospect
The Mozulitas drill hole was targeted to follow up a previously-announced drill
intersection of 49.6 metres grading 0.12% molybdenum in a drill hole
(DDLN_05_05) completed by Kennecott Exploration Company ("Kennecott") in 2005.
Mozulitas is located 150 metres north of the Azulitas
copper-molybdenmum-silver-gold 43-101 compliant resource, but is interpreted as
a separate molybdenum-rich mineralized body. The two holes reported to-date
indicate a minimum strike length of 75 metres and widths averaging greater than
50 metres. The mineralized zone is interpreted to be dipping to the north and
the reported intercepts represent the approximate 'true-width' of the body. The
mineralized zone is open to extension in all directions.
Surface sampling in the area to the west of DDLN_08_02 has produced molybdenum
soil anomalies averaging 175 parts per million over a single sampling line
covering a north-south distance of over 100 metres.
To view Figure 1. Mozulitas Molybdenum Discovery (Plan View), please visit the
following link: http://media3.marketwire.com/docs/GXL4081.jpg
Table 1. Mozulitas Drill Results
----------------------------------------------------------------------------
From To Interval Molybdenum MoS2 Silver Copper
Hole (metres) (metres) (metres) (%) (%) (g/t) (%)
----------------------------------------------------------------------------
DDLN_08_02 98.0 155.0 57.0 0.10 0.17 0.84 0.08
----------------------------------------------------------------------------
including (i) 111.0 141.0 30.0 0.17 0.28 0.44 0.04
----------------------------------------------------------------------------
including (ii) 111.0 123.0 12.0 0.32 0.53 0.00 0.02
----------------------------------------------------------------------------
Note 1. MoS2 is NOT an assay field, but is calculated by multiplying
molybdenum % by 1.6681.
All intervals calculated using a minimum 2-metre width and 4-metre internal
dilution and based on a cutoff of 0.01% molybdenum except where indicated
with (i) where intercept is calculated with minimum 1-metre width and
4-metre internal dilution using a 0.05% molybdenum cut-off and (ii)
calculated using minimum 1-metre width, 4-metre internal dilution using an
0.07% molybdenum cut-off.
All assays based on half-sawn drill core; shipped to ALS Chemex in
Hermosillo, Mexico for preparation and then to ALS Chemex Laboratory in
Vancouver, Canada, 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.
Amarillito Prospect
Amarillito is located approximately 320 metres north of Azulitas and 280 metres
east-northeast of Mozulitas. Geoinformatics recently completed a second hole
into this prospect. This second hole (DDLN_08_01) returned widespread copper
mineralization in the order of 0.25% to 0.54%, similar to the first hole
(DDLN_07_16) drilled in 2007. Please refer to Table 2 for further details.
To view Figure 2. Amarillito Copper-Silver Discovery (Plan View), please visit
the following link: http://media3.marketwire.com/docs/GXL4082.jpg
Table 2. Amarillito Drill Results
----------------------------------------------------------------------------
From To Interval Copper Gold Silver
Hole (metres) (metres) (metres) (%) (g/t) (g/t)
----------------------------------------------------------------------------
DDLN_08_01 24.0 42.0 18.0 0.13 0.04 2.99
----------------------------------------------------------------------------
56.0 58.0 2.0 0.11 0.05 2.40
----------------------------------------------------------------------------
147.0 151.0 4.0 0.10 0.01 6.65
----------------------------------------------------------------------------
168.0 178.0 10.0 0.11 0.01 6.77
----------------------------------------------------------------------------
184.0 249.0 65.0 0.31 0.03 11.60
----------------------------------------------------------------------------
including (i) 213.0 231.0 18.0 0.54 0.04 20.70
----------------------------------------------------------------------------
including (i) 236.0 242.0 6.0 0.52 0.05 16.30
----------------------------------------------------------------------------
255.0 289.0 34.0 0.14 0.03 6.03
----------------------------------------------------------------------------
312.0 319.0 7.0 0.13 0.02 4.64
----------------------------------------------------------------------------
448.0 451.0 3.0 0.16 0.09 3.13
----------------------------------------------------------------------------
All intervals calculated using a minimum 2-metre width and 4-metre internal
dilution and based on a cutoff of 0.1% copper except where indicated with
(i) where intercept is calculated with minimum 1-metre width and 4-metre
internal dilution using a 0. 5% copper cut-off.
All assays based on half-sawn drill core; shipped to ALS Chemex in
Hermosillo, Mexico for preparation and then to ALS Chemex Laboratory in
Vancouver, Canada, 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.
La Noria Project
La Noria is located approximately 60 km. northeast of the port of Mazatlan in
the State of Sinaloa and 35 km. from a main rail-line. The project consists of
mineral claims and option agreements covering an area of approximately 149 sq.
km. in low-rolling hills intersected by numerous roads and tracks that are
accessible for most of the year and serviced with electric power.
To view Figure 3. La Noria Project Area, please visit the following link:
http://media3.marketwire.com/docs/GXL4083.jpg
Geoinformatics' current objective at La Noria is to identify sufficient
resources from several prospects, including the Azulitas NI 43-101-compliant
resource, that may have the potential to support an integrated mining operation.
Mozulitas is now the third prospect on the La Noria Project returning wide
high-grade mineralized intercepts over considerable confirmed strike-lengths
with the others being:
- Azulitas has a NI 43-101-compliant Inferred Mineral Resource of 5.63 million
tonnes grading 0.54% copper, 12.2 g/t silver, 0.08 g/t gold and 0.04%
molybdenum.
- The Los Laureles Prospect has numerous mineralized drill intersections
including 107 metres grading 0.12% molybdenum (0.20% MoS2), 0.14% copper, 0.08
g/t gold and 11.9 g/t silver within a breccia zone with mapped extents over 750
metres by up to 180 metres wide.
There are several other defined prospects such as La Verde which returned 76
metres grading 0.32% copper and 7.2 g/t silver, and Amarillito, described above,
as well as other surface geochemistry anomalies that have yet to be followed up
with drilling.
Table 3. Drill Hole Details
----------------------------------------------------------------------------
Hole Prospect Easting Northing Elevation Azimuth Dip Depth
----------------------------------------------------------------------------
DDLN_08_01 Amarillito 381944 2608567 181.4 230 -45 606.1
----------------------------------------------------------------------------
DDLN_08_02 Mozulitas 381747 2608330 207.0 183 -70 276.9
----------------------------------------------------------------------------
All coordinates in datum NAD27 Zone 13.
Qualified Person
The technical content of this release has been compiled by Darren Holden,
MAusIMM, Executive Vice President, Operations of Geoinformatics. Mr. Holden is a
Qualified Person as defined by NI 43-101.
Kennecott - Geoinformatics Alliance Agreement
La Noria falls under the Master Strategic Alliance Agreement (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. La Noria 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 La Noria Project 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 is also actively exploring several advanced projects located 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 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.
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