SOURCE: Geocom Resources Inc.

March 05, 2007 09:00 ET

Geocom Reports on First Set of Results From the 2007 Reconnaissance Program in Southern Chile

BELLINGHAM, WA -- (MARKET WIRE) -- March 5, 2007 -- Geocom Resources Inc. (OTCBB: GOCM) is pleased to report on the first set of results from the 2007 reconnaissance exploration program being carried out on the extensive property holdings in southern Chile of Geocom and its joint venture partner Kinross Gold Corp. The current program commenced in mid January and is expected to continue until weather conditions require the termination of field work.

The 2007 program is following up on the anomalous results generated by the 2006 sampling, which motivated Geocom to acquire approximately 90,000ha of mineral tenures. The lands acquired are prospective for both gold and base metal deposits, so all samples are being analyzed by a multi element ICP package and fire assay gold procedures.

Several areas were targeted as priority projects based on the initial round of sampling in 2006. These include the Chaiten Au-Cu porphyry, the Cerro Mera vein-hosted Au and the Cerro Primero replacement Au projects.

At Chaiten the initial sampling of the mineralized outcrops along a road cut has produced numerous chip samples containing anomalous gold over significant widths. A series of 10 continuous two meter chip samples across the accessible outcrop averaged 0.17g/t gold and 0.19% copper. Selected chip and grab samples of the mineralized veinlets have returned up to 1.67g/t gold, 3.45% copper and 3560 ppm molybdenum. The zone remains open in all directions.

The sampling at Cerro Mera has returned high grade gold values associated with quartz veins hosted by a series of easterly trending structures. In 2006 a grab sample contained 72g/t gold. The 2007 sampling program has concentrated on collecting representative chip samples across the host structures and permissive calcareous horizons. Results from the first group of samples have returned a high value of 6.12g/t gold over a 25cm width of quartz veining. Other results from vein systems returned >100g/t Ag, 0.24%Cu, 1.91% Pb, 3.61% Zn over 1m and 32.9g/t Ag, .49%Cu, 1.25% Pb, and 10.5%Zn over 1m.

These easterly trending structures are up to 20 meters in width, and are the dominant structural trend on the property. The veins have strike lengths exceeding three kilometers, and locally have been found to contain lenses of massive galena up to 1m in width. In the opinion of Geocom's geologists and management, the geological environment at Cerro Mera is very similar to the nearby Esquel deposit in Argentina, which contains over 3 million oz of gold in a series of easterly-trending quartz veins.

At Cerro Mera there is also potential for replacement type deposits as evidenced by a 1.5m chip sample across silicified and brecciated calcareous tuffs which assayed 1.35% lead and 4400ppm zinc. Another 3m chip across altered metasedimentary rocks contained 19.3g/t Ag, 0.11%Cu, 0.44%Pb and 0.99% Zn. These calcareous units are cut by the easterly trending structures that may be the conduits for all of the ore fluids. Assays on the overlimit base metal results are pending. This style of mineralization is present in the El Toqui deposit in Region XI of Chile where the Aserradero deposit contains a resource of 1.5mt grading 5.9%Zn and 8.5g/t gold.

At Cerro Vaca Geocom's sampling of the quartz veins has returned up to 5.65g/t gold over narrow widths. These southeast trending fractures can be traced over tens of meters across the ridges. To date no estimate can be made of their vertical extent.

Geological mapping and sampling is continuing on all of the Venture's properties, which have resulted in the discovery of numerous additional gossans associated with major structural features.

Geocom and Kinross are jointly exploring and acquiring gold and other mineral targets in Region Ten of south Chile. Properties acquired by the venture are managed via individual joint venture on a 50-50 basis. Kinross has the right to acquire a majority interest by making additional expenditures on individual properties and by exercising warrants granted to Kinross by Geocom.

For further information please contact Samantha Haynes at 800.539.0289 or via e-mail at

On behalf of the Board of Directors
John E. Hiner, President & CEO
About Geocom Resources Inc.

Geocom Resources Inc. (OTCBB: GOCM) is a U.S.-based mineral exploration company focused on acquiring and developing mineral resources in geologically acceptable and politically stable countries of the world. The Company is presently active in Alaska, Argentina, Nevada, and Chile. The Company focuses on development of projects that are or will be of interest to mid-size or major producers with the goal to form joint ventures on such projects. Geocom expects to grow and maintain an interest in mines operated by its partners, allowing it to build value through continued exploration. To find out more about Geocom Resources Inc. please visit

Safe Harbor Statement:

Statements in this document that are not purely historical are forward-looking statements, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Forward-looking statements in this release include statements regarding the continued evaluation and exploration program in Region X of south Chile made pursuant to the joint venture agreement between Geocom and Kinross, including geologic mapping and sampling of the properties. Factors that could cause actual results to differ materially include risks and uncertainties of such as the failure or inability of the parties to enter any formal joint venture agreement, or either Geocom or Kinross being unable or unwilling, whether for financial reasons or otherwise, to perform obligations under any joint venture agreement, the inability of either party to continue working in Chile, the inability of either party to finance planned exploration, drilling and work programs, as required from time to time, and any unforeseen difficulties in commencing or completing such program, or the results of the programs not showing any commercially feasible grades of minerals, any of which could, among other things, delay, impede or prevent the planned explorations and harm the viability of Geocom. Actual results may also differ materially from those currently anticipated due to a number of other factors beyond the reasonable control of the Company. Additional information on risks and other factors that may affect the business and financial results of the Company can be found in filings of the Company with the U.S. Securities and Exchange Commission.

WARNING: The Company relies on litigation protection for "forward-looking" statements.

(the "Company" and/or "Geocom")
Suite 413 - 114 West Magnolia Street
Bellingham, Washington 98225
Tel (360) 392-2898

Contact Information

  • For further information please contact:
    Samantha Haynes
    Email Contact