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Geologix Explorations Inc.
Summary
| Project: | Tepal | |
|---|---|---|
| Deposit: | Tepal | |
| Location: | Mexico | |
| Commodities: | Gold-Silver-Copper-Molybdenum | |
| Date: | 8/31/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Feasibility Study | |
| Report details: | 31-8-2017: Geologix Explorations Inc. announces an Exploration/Drilling Update report for its Tepal deposit at the Tepal project. Relogging results incl. 186.8m @ 1.054g/t Au, 1.2g/t Ag, 0.38% Cu, 28ppm Mo from 309.2m. Vancouver, BC – August 31, 2017 – Ge | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Dunham Craig (Internal) | |
| ABSTRACT: | Vancouver, BC – August 31, 2017 – Geologix Explorations Inc. [TSX-V: GIX] (“Geologix” or the “Company”) is pleased to provide an update to shareholders regarding the Company’s exploration activities at its 100% owned Tepal Gold/Copper Project located in Michoacán state, Mexico. After a multi-year hiatus due to prevailing low metals prices, the Company recently reinitiated field work following the completion of a $1.2M oversubscribed financing (see press release dated June 22, 2017). Geologix’s new management and technical team are currently focused on realizing the value and potential of Tepal through a staged exploration approach that is designed to expand the economic resource base and make additional discoveries, with the goal of enhancing the Preliminary Economic Assessment (“PEA”) (see press release dated January 19, 2017) prior to advancing the project to the pre-feasibility and/or feasibility stage. Re-logging of selected drill hole intersections from the South Pit indicates mineralization remains open both inside and beneath the current economic pit shell, suggesting potential to improve the existing resource though additional drilling. Kiran Patankar, Geologix’s President and Chief Executive Officer, stated: “Restarting substantive field work at Tepal is a significant milestone for the Company. Few gold/copper development projects can boast an established economic resource with the kind of scalability and exploration Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release. upside we are seeing at Tepal. We have assembled a technical team led by Gillian Kearvell, whose extensive and successful track record of making world-class discoveries in Southern Mexico is bona fide, in order to take a fresh look at the project. The initial findings from this summer’s field program are highly encouraging and suggest that we have just scratched the surface of Tepal’s true potential.” | |
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