Geoinformatics Reports Extensive Zinc-Silver-Gold Mineralization at Los Chinos, Mexico from Joint Venture Drilling
March 27 2008 - 3:18PM
Marketwired Canada
Geoinformatics Exploration Inc. (TSX VENTURE:GXL) ("Geoinformatics" or the
"Company") is pleased to announce that its joint venture partner, Azure Minerals
Ltd. ("Azure") (ASX:AZS) recently reported widespread zinc, silver and gold
mineralization from drilling on the Los Chinos Project in the State of Sonora,
Mexico. Los Chinos is one of 13 projects in a joint venture between Azure (51%)
and Geoinformatics (49%).
Highlights
Assay results have been received for nine drill holes of an initial 12-hole
program on the property, all of which intersected anomalous to high-grade base
and precious metal mineralization.
- LCH-DD-008 - 4 metres grading 7.1% zinc within a broader zone of 13 metres @
2.7% zinc.
- LCH-DD-007 - 5 metres grading 5.6% zinc & 2 metres grading 155 gram/tonne
(g/t) silver within a broader zone of 20 metres @ 1.9% zinc.
- LCH-DD-010 - 22 metres grading 1.40% zinc from near surface within a broader
zone of 41 metres grading 1.0% zinc.
- LCH-DD-009 - 14 metres grading 1.53% zinc within a broader zone of 62.5 metres
grading 0.6% zinc
- LCH-DD-005 - 4 metres grading 2.2% zinc, 236 g/t silver, 1.0% copper & 0.7 g/t
gold.
- LCH-DD-001 - 3 metres grading 1.5% lead, 355 g/t silver & 2.4 g/t gold.
The Los Chinos Project and Drill Program
The Los Chinos Project ("Los Chinos") is located approximately 80 kilometres
north-northeast of the city of Hermosillo in the State of Sonora, Mexico (Figure
2). Geoinformatics staked Los Chinos in 2007 based on its regional
technology-based targeting techniques. Los Chinos has potential for both
copper-gold-molybdenum porphyry-type deposits and peripheral replacement-style
base metal mineralization. Geoinformatics offered the property to the joint
venture under the terms of the regional joint venture agreement.
In the first drilling on the property, totaling 1,561 metres, Azure targeted a
series of outcropping carbonate replacement and breccia zones in the
northwestern part of the property with oxidized profiles. These zones are
interpreted to represent the near-surface weathered expression of polymetallic
sulphide bodies, where the mineralization has selectively replaced susceptible
horizons within the volcano-sedimentary sequence. As a result of oxidation and
remobilization of base metals during the weathering process, the deeper
intercepts contain higher grades of zinc and lead because of the presence of
primary sulphides (sphalerite and galena).
The successful program had all nine holes (assayed to-date) intersect anomalous
to high-grade base metals (zinc, lead and copper) and precious metal
mineralization over significant widths from near-surface to drilled depths of
over 130 metres. Both silver and gold occurs within the base metal
mineralization, occasionally in very high grades.
To view Figure 1. Los Chinos drill hole locations, interpretive geology, and
soil sampling contours please visit the following link:
http://media3.marketwire.com/docs/gxlfig1.pdf.
Numerous mineralized horizons on the property point to an extensive system with
the potential to host significant deposits of high-grade primary sulphide
mineralization. The joint venture partners intend to interpret these drill
results, and analyze and model a recently completed geophysical survey before
launching a second-phase drill program.
Appendix 1 includes all significant drill hole intercepts received to-date.
Geoinformatics in Mexico
Los Chinos is one of 13 projects held under a joint venture between
Geoinformatics and Azure (operator). Azure recently completed an initial
exploration expenditure of US$4 million on all joint-venture properties to earn
51% with Geoinformatics retaining the remaining 49%. All of the Azure Joint
Venture properties are located within the highly prospective Sierra Madre
Occidental of Sonora, Mexico that hosts world-class deposits such as Penasaquito
(zinc-copper-gold-silver); and Cananea (copper-gold).
In addition to the Azure Joint Venture, Geoinformatics holds 100%-owned mineral
exploration licenses on a further nine properties in Sonora.
Geoinformatics also owns a 100% interest in the La Noria Project in the State of
Sinaloa. Mexico. The Company recently announced a National Instrument (NI)
43-101-compliant resource at the Azulitas Prospect ("Azulitas") and a new
molybdenum-copper-silver discovery at the Los Laureles Prospect near Azulitas.
To view Figure 2. Geoinformatics interests in Sonora, Mexico please visit the
following link: http://media3.marketwire.com/docs/rgxlfig2.pdf.
Qualified Persons
The technical content of this release has been compiled by Mr. Darren Holden,
Executive Vice President of Geoinformatics, and is based on information supplied
by Azure's Exploration Manager - Mr. Pat Manouge. Mr. Holden and Mr. Manouge are
both Members of the Australasian Institute of Mining and Metallurgy (MAusIMM)
and are qualified persons as defined by NI 43-101 guidelines.
Kennecott - Geoinformatics Alliance Agreement
Los Chinos and Geoinformatics' other Mexican interests fall under the Master
Strategic Alliance Agreement (the "Alliance Agreement") between Geoinformatics
and Kennecott Exploration Company. 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. Kennecott retains a back-in
right to acquire either a 51% or 60% interest in projects under the Alliance
Agreement. 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, Sinaloa, Mexico and British Columbia.
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.
Appendix 1.
TABLE 1: SIGNIFICANT DRILL INTERCEPTS - LOS CHINOS PROJECT
----------------------------------------------------------------------------
DRILL FROM TO INTERVAL SILVER ZINC LEAD COMMENTS
HOLE (metres) (metres) (metres) (g/t) (%) (%)
----------------------------------------------------------------------------
LCH-DD-001 0.0 11.0 11.0 126 0.37 0.60
----------------------------------------------------------------------------
Incl.: 3 metres
Including (i) 2.0 5.0 3.0 355 0.38 1.54 @ 2.39 g/t gold
----------------------------------------------------------------------------
----------------------------------------------------------------------------
LCH-DD-002 41.0 46.0 5.0 28 1.04 0.53
----------------------------------------------------------------------------
129.0 131.0 2.0 20 1.52 0.25
----------------------------------------------------------------------------
----------------------------------------------------------------------------
LCH-DD-003 7.0 9.0 2.0 81 0.21 0.69
----------------------------------------------------------------------------
Incl.: 5 metres
26.0 31.0 5.0 55 1.54 0.66 @ 0.18 g/t gold
----------------------------------------------------------------------------
70.0 73.0 3.0 14 4.23 0.38
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Incl.: 8 metres
LCH-DD-005 0.0 8.0 8.0 146 1.48 0.57 @ 0.41 g/t gold
----------------------------------------------------------------------------
Incl.: 4 metres
@ 1.0% copper &
4 metres @ 0.69
Including (i) 4.0 8.0 4.0 236 2.17 0.77 g/t gold
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Wide zone of
LCH-DD-006 0.0 78.0 78.0 0.24 anomalous zinc
----------------------------------------------------------------------------
----------------------------------------------------------------------------
LCH-DD-007 47.0 67.0 20.0 37 1.94 0.61
----------------------------------------------------------------------------
Including (i) 51.0 56.0 5.0 18 5.61 0.99
----------------------------------------------------------------------------
Incl.: 1 metres
Including (i) 52.0 54.0 2.0 13 9.65 1.43 @ 11.2% zinc
----------------------------------------------------------------------------
Incl.: 2 metres
@ 155 g/t silver
& 5 metres @
Including (i) 61.0 66.0 5.0 78 1.28 0.35 0.23 g/t gold
----------------------------------------------------------------------------
Including (i) 61.0 63.0 2.0 28 1.74 0.47
----------------------------------------------------------------------------
----------------------------------------------------------------------------
LCH-DD-008 16.0 36.0 20.0 17 1.86 0.47
----------------------------------------------------------------------------
Incl.: 13 metres
Including (i) 16.0 29.0 13.0 17 2.69 0.51 @ 0.13 g/t gold
----------------------------------------------------------------------------
Incl.: 1 metre @
Including (i) 18.0 22.0 4.0 17 7.13 0.66 14.2% zinc
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Wide zone of
LCH-DD-009 5.0 67.5 62.5 0.58 anomalous zinc
----------------------------------------------------------------------------
Incl.: 1 metre @
5.80% zinc &
1 metre
Including (i) 8.0 22.0 14.0 23 1.53 1.16 @ 7.93 lead
----------------------------------------------------------------------------
----------------------------------------------------------------------------
Wide zone of
LCH-DD-010 3.0 44.0 44.0 20 1.40 0.96 anomalous zinc
----------------------------------------------------------------------------
Including (i) 3.0 25.0 22.0 13 0.97 0.57
----------------------------------------------------------------------------
Intercepts were calculated with a minimum 2-metre width and 8-metre internal
dilution and a 0.1% zinc cutoff, except where indicated with (i) where
intercepts were calculated with a minimum 2-metre width and 8-metre internal
dilution and 0.5% zinc cutoff. Samples were all half-core. Sample
preparation was undertaken by ALS-Chemex (Hermosillo) and analyzed by
ALS-Chemex (Vancouver) using ICP-AES (for silver and base metals) and Fire
Assay / AAS (for gold) methods. Note - these holes are initial
reconnaissance drilling and structural geometry and true-width is yet to be
established.
Assays not yet received for LCH-DD-011, LCH-DD-012 and LCH-DD-004.
TABLE 2: DRILL HOLE DETAILS - LOS CHINOS PROJECT
----------------------------------------------------------------------------
Hole
Hole No North East RL Dip Azimuth Length
(mN) (mE) (mASL) (metres)
----------------------------------------------------------------------------
LCH-DD-001 3 293 972 548 539 742 -60 degrees 150 degrees 79
----------------------------------------------------------------------------
LCH-DD-002 3 293 927 548 485 743 -60 degrees 150 degrees 178
----------------------------------------------------------------------------
LCH-DD-003 3 293 979 548 450 752 -60 degrees 150 degrees 169
----------------------------------------------------------------------------
LCH-DD-004 3 294 220 548 780 745 -60 degrees 120 degrees 110
----------------------------------------------------------------------------
LCH-DD-005 3 294 065 548 660 770 -60 degrees 060 degrees 85
----------------------------------------------------------------------------
LCH-DD-006 3 293 927 548 794 745 -60 degrees 140 degrees 108
----------------------------------------------------------------------------
LCH-DD-007 3 293 923 548 702 736 -60 degrees 135 degrees 100
----------------------------------------------------------------------------
LCH-DD-008 3 294 310 548 569 751 -60 degrees 340 degrees 67
----------------------------------------------------------------------------
LCH-DD-009 3 294 329 546 980 737 -60 degrees 330 degrees 148
----------------------------------------------------------------------------
LCH-DD-010 3 294 323 547 111 757 -60 degrees 360 degrees 153
----------------------------------------------------------------------------
LCH-DD-011 3 293 990 548 795 761 -60 degrees 150 degrees 159
----------------------------------------------------------------------------
LCH-DD-012 3 293 960 548 681 760 -60 degrees 135 degrees 203
----------------------------------------------------------------------------
Datum equals NAD27 UTM Zone 12.
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