Agoracom: Small Cap Investment - Geoinformatics Exploration

Please close this HUB

.........................................

Reply New Message

Back To Forum List View

HSS

Rank: Vice President [?]

Points: 6520 [?]

Votes: 216 Score: 3.2 [?]

Your Vote:

Please Log In to Vote

Did you know? You can earn activity points by filling your profile with information about yourself (what city you live in, your favorite team, blogs etc.)

results, thoughts???

posted on Dec 12, 2008 03:56AM

TORONTO, Dec. 11, 2008 (Canada NewsWire via COMTEX News Network) --

Geoinformatics Exploration Inc. (TSX-V: GXL) ("Geoinformatics", "GXL" or the "Company") is pleased to provide a summary of its 2008 field season at its Whistler Project in Alaska.


    <<
    2008 Season Highlights

    -   Completed requirements to earn a 100% interest in the Whistler
        Project from Kennecott;

    -   Extended mineralization to a vertical depth of 625 metres on the Main
        Zone with 726.8 metres grading 0.48 grams per tonne ("g/t") gold,
        0.87 g/t silver, 0.14% copper (or 0.76 g/t gold equivalent) which
        included 82 metres averaging 2.01 g/t gold, 1.12 g/t silver, 0.39%
        copper (or 2.76 g/t gold equivalent) in drill hole WH-08-08;

    -   Identified higher-grade zone north of the Main Zone intersecting
        76 metres grading 0.61 g/t gold, 0.27% copper, 4.16 g/t silver (or
        1.18 g/t gold equivalent) in drill hole WH-08-10;

    -   Mineralization encountered in three regional targets:

        -  RainTree West Prospect (1.5 km from Main Zone) with 160 metres
           grading 0.59 g/t gold, 6.02 g/t silver, 0.10% copper, 0.20% lead
           and 0.46% zinc (or 1.26% gold equivalent) which includes 24 metres
           grading 1.37 g/t gold, 6.32 g/t silver, 0.13% copper, 0.36% lead
           and 0.80% zinc (or 2.42 g/t gold equivalent) in drill hole
           RN-08-06;

        -  RainMaker Prospect (2.4 km from Main Zone) with 151.6 metres
           grading 0.37 g/t gold, 0.18% copper, 1.83 g/t silver including
           83.0 metres grading 0.47 g/t gold, 0.21% copper, (or 0.86 g/t gold
           equivalent) in drill hole RM-08-01; and

        -  RainTree East Prospect (2.5 km from Main Zone) with 20 metres
           grading 0.38 g/t gold and 0.15% copper in drill hole RN-08-05.

    -   Advanced reconnaissance and targeting work at high-grade Muddy Creek
        gold prospects:

        -  Rock chip samples on the Bonanza Prospect returned values up to
           69.12 g/t gold, 424 g/t silver and 1.96% copper; and

        -  Defined 7 distinct gold drill targets at Muddy Creek from data
           integration, analysis and reconnaissance.
    >>

Completion of Earn-in Requirements

Upon completing the 2008 field season, Geoinformatics has satisfied the acquisition conditions required to earn a 100% interest in the Whistler Project from Kennecott Exploration Company ("Kennecott") with Kennecott retaining a back-in right to acquire either a 51% or 60% interest in the project.

2008 Drill Results

Geoinformatics completed a total of 11 diamond drill holes for 4,303 metres of drilling. Five of these holes (2,462 metres) tested extensions of the Whistler Zone/Main Zone resource. The remaining 1,841 metres (6 holes) tested 6 "blind" regional targets all located within 2.5 km of the Whistler Zone/Main Zone resource. The regional targets were all defined by geophysical/geochemical techniques, with no surface expression due to thin gravel cover gravel. Three out of the six targets intersected mineralization. One hole at the RainTree West prospect intersecting 160 metres grading 0.59 g/t gold, 6.02 g/t silver, 0.10% copper, 0.20% lead and 0.46% zinc (or 1.26 g/t gold equivalent).

All intercept calculations and drill locations from 2008 can be found on the Company's website at http://www.geoinformex.com/s/Whistle...

Reconnaissance at Muddy Creek Prospects

During the 2008 field season, Geoinformatics completed an extensive review of the Muddy Creek high-grade gold prospects located approximately 13 km southeast of the Whistler Zone. The review included fieldwork and extensive validation of Kennecott's previous reconnaissance data from the area.


    <<
    A summary of the 7 prospects at Muddy Creek include:

    -   Bonanza Prospect with rock chip sampling returning up to 69.12 g/t
        gold, 424 g/t silver and 1.96% copper. Average rock-chip samples of
        9.04 g/t gold, 97.26 g/t silver and 0.55% copper along a 400 metre
        outcropping strike length of a diorite/sedimentary contact.

    -   Muddy Creek Central anomaly with outcropping monzonite (an intrusive
        rock) over a strike-length of 2 km by 1 km. Rock chip samples average
        5.1 g/t gold with a peak value of 111.5 g/t gold and soil samples
        average 1,200 parts per billion ("ppb") gold over an area 400 metres
        by 270 metres.

    -   Muddy Creek West anomaly with outcropping monzonite and monzonite
        porphyry 2 km by 0.5 km. Rock-chip samples average 3.46 g/t gold,
        11.8 g/t silver and 0.29% copper and soil samples average 1,791 ppb
        gold.

    -   Eos Prospect with a 1,400 metre diameter magnetic geophysical anomaly
        located under pediment/gravel cover with surface soil samples up to
        197 ppb gold. Average soil samples returned 50 ppb, however the
        gravel cover is interpreted to be several metres thick in this area.

    -   Saruman Prospect with 1,200 metre diameter magnetic geophysical
        anomaly located under pediment/gravel cover with 175 ppb average gold
        in soil anomaly.

    -   Shire Prospect with 3.5 km by 1 km magnetic geophysical anomaly under
        cover with scattered outcrop of sedimentary rocks and monzonite
        intrusive rocks. Rock chip samples average 0.15 g/t gold and soil
        samples average 450 ppb gold, 1.17 parts per million ("ppm") silver
        and 387 ppm copper.

    -   MC Stockwork Prospect with outcropping clay-carbonate stockwork veins
        hosted by sedimentary rocks with mapped strike-length of
        approximately 800 metres. Rock chip samples average 1.10 g/t gold and
        soil samples average 599 ppb gold.
    >>

All geochemistry samples, including maps of sample locations, sample collection methods and assay methods can be found on the Company's website at http://www.geoinformex.com/s/MuddyCr...

Sample Methods and Analysis

All drilling in 2008 was either NQ or HQ sized core with sample widths ranging between 2 and 3 metres. All assays for drilling, rock-chips and soil sampling from 2008 were completed by Alaska Assay Laboratories in Fairbanks, Alaska using Fire-Assay (FA30) for gold and ICP-4A for multi-element analysis. Field standards and blanks were inserted in the sample stream to monitor laboratory performance. Refer to respective project pages under www.geoinformex.com for full details of intercept calculations and sample collection methods.

Qualified Person

The technical content of this release was compiled by Darren Holden (MAusIMM) - Chief Operating Officer of Geoinformatics. Mr. Holden is a Qualified Person as defined under NI 43-101 guidelines.

About Whistler Project

The Whistler Project is located approximately 160 km. northwest of Anchorage, Alaska. Whistler is one of the largest groups of contiguous mineral claim blocks held by a single company in Alaska, outside of existing mines and mine development projects.

The Whistler Zone hosts a NI 43-101 compliant Indicated resource of 30 million tonnes grading 0.87 g/t gold, 2.46 g/t silver and 0.24% copper and an Inferred resource of 134 million tonnes grading 0.64 g/t gold, 2.18 g/t silver and 0.20% copper. In addition, there is considerable mineralization in the Whistler Zone that has been identified by drilling and reported in the 43-101 resource technical report filed on SEDAR (www.sedar.com), but has not yet been categorized as a mineral resource.

Reply New Message

Back To Forum List View

Please to post a reply