Geoinformatics Exploration Inc.
TSX VENTURE : GXL

Geoinformatics Exploration Inc.

February 29, 2008 12:03 ET

Geoinformatics Provides Update on Regional Targeting at Whistler Project: Over 50 Individual "Areas-of-Interest" Identified

TORONTO, ONTARIO--(Marketwire - Feb. 29, 2008) - Geoinformatics Exploration Inc. (TSX VENTURE:GXL) ("Geoinformatics" or the "Company") is pleased to provide an update on its regional exploration targeting on the Whistler Project in Alaska following the announcement in January 2008 of an initial independent National Instrument 43-101 resource estimate on the Whistler Zone. The estimate established an Indicated Mineral Resource of 840,000 ounces of gold and an additional Inferred Mineral Resource Estimate of 2.74 million ounces of gold. Significant copper and silver mineralization increases the gold-equivalent resource to 1.31 million ounces in the Indicated category and 4.44 million ounces in the Inferred category. The Indicated Resource consists of 30 million tonnes grading 0.87 grams per tonne (g/t) gold, 2.46g/t silver and 0.24% copper and the Inferred Resource consists of 134 million tonnes grading 0.64g/t gold, 2.18g/t silver and 0.20% copper. In addition, there is considerable mineralization in the Whistler Zone that has been identified by drilling, but has not yet been categorized as a mineral resource.

The Whistler Zone is just one of a cluster of targets within a 440 sq. km. block of 732 State of Alaska mining claims making up the "Whistler Project" giving the area extensive additional exploration potential. Many of these targets are covered by shallow alluvial sediments and do not outcrop, but have comparable geophysical, geological or geochemical signatures to the Whistler Zone. The Whistler Project (100% optioned by Geoinformatics) is one of the largest continuous mineral claim blocks held by a single explorer in Alaska, outside of existing mines and mine development projects.

Key Activities

- The key geological settings and geophysical signatures of the Whistler Zone have been characterized as a guide to further regional exploration.

- Historic data from Kennecott Exploration Company (Kennecott) has been synthesized into a three-dimensional regional exploration targeting database.

- A focus area of approximately 15 km. by 7.5 km. surrounding the Whistler Zone has been analyzed in detail and hosts a cluster of at least 50 individual prospective "areas-of-interest", most of which have not been drill tested.

- Drilling at RainMaker, for example, produced a 184 metre intersection grading 0.44 g/t gold and 0.16% copper and confirms that the Whistler Zone is not an isolated occurrence of mineralization in the region.

- Geoinformatics' proprietary targeting techniques are being used to establish drill and exploration field work priorities for the 2008 field season.

- In addition, targets at the Muddy Creek and Island Mountain Prospects located approximately 16 km. southwest and 20 km. south-southwest of the Whistler Zone, respectively, have been reviewed including extensive surface geochemistry anomalies.

"The regional potential of the Whistler Project is extraordinary and is fast becoming a key focal point for Geoinformatics' activities," stated Kevin L. Snook, Chairman of Geoinformatics. "A 43-101 multi-million ounce gold resource has been established in the Whistler Zone already, which has good potential for expansion, identified by our exploration team and the independent 43-101 technical consultants. The development by our team of a large number of regional targets that closely resemble the Whistler Zone opens up the possibility that we may be dealing with a cluster of deposits that could rival some of the great gold-camps of North America and the world".

The Whistler Zone as a Guide to Further Exploration

Geoinformatics has analyzed and characterized the extensive exploration data and the nature of mineralization at the Whistler Zone as a guide to the identification and prioritization of other exploration targets in the immediate area associated with the Whistler Intrusive Suite.

The Whistler Zone's exploration characteristics include:

1. Surface rock-chip samples grading up to 1.59 grams per tonne (g/t) gold.

2. Outcropping diorite porphyry rocks with hydrothermal alteration indicative of porphyry-related mineralization.

3. An ovoidal airborne magnetic anomaly (high) indicating the 1 km. by 750 metre extents of a diorite porphyry intrusion hosting the mineralization.

4. An IP geophysical anomaly with chargeability ranging from 20 to 60 milliseconds (msec.) indicative of elevated disseminated sulphide mineral content.

To view Figure 1, please visit the following link: http://media3.marketwire.com/docs/whistlerFigure1.pdf

Regional Porphyry Targeting Process

The northern portion of the Whistler Project (approximately 15 km. by 7.5 km.) is underlain by a large broad-wavelength magnetic anomaly interpreted to be the main intrusive body at depth in the Whistler Intrusive Suite and the underlying magmatic source of the Whistler Zone diorite porphyry. Targeting has focused on ovoidal magnetic bodies in this area, which are potentially individual porphyry-related bodies, comparable to the Whistler Zone. In total, 50 such individual areas-of-interest have been identified (Figure 2). Many of these are covered by shallow alluvial gravels and, hence, cannot be reliably prioritized from surface geochemical sampling. The Whistler Zone was discovered largely from visible outcrop. Figure 2 on the following page details the identified areas-of-interest, all of which are being reviewed and prioritized to determine the drill testing program for the 2008 season.

To view Figure 2, please visit the following link:
http://media3.marketwire.com/docs/whistlerFigure2.pdf

The areas-of-interest are presented on processed airborne magnetic data. Shaded purple areas represent distinct magnetic highs of a comparable magnetic signature to the Whistler Zone. Nomenclature: "NSI" equals Drilled with No Significant Intercepts. "Low-level Anomalism" equals 0.05 to 0.1 g/t gold in rock chips. "Weak IP" equals 5 to 15 msec. IP anomaly; "Moderate IP" equals 15 to 25 msec. IP anomaly. "Strong IP" equals or greater than 30 msec. IP anomaly. All regional drill hole results are tabulated (including intercepts) in Geoinformatics' press-release dated June 7, 2007 and are available on Geoinformatics website at http://www.geoinformex.com/GXL_Home/projects/whistler_regional_data.html



Notable drill targets for 2008 include:

1. Rainmaker - the one previous drill hole returned 184 metres
grading 0.44 g/t gold and 0.16% copper.

2. Round Mountain - a cluster of five magnetic anomalies associated with
a large IP anomaly and rock-chip samples up to
0.4 g/t gold.

3. Raintree - a cluster of four magnetic anomalies associated with
large IP anomalies and a drill intersection of 94.5
metres grading 0.23 g/t gold.


During the 2008 season, Geoinformatics intends to drill test as many regional targets as possible. Based on prior experience, it should be possible to drill five targets with a deep coring rig and test 10 others with a small portable shallow rig.

Other Targets

In addition to the area surrounding the Whistler Zone, Geoinformatics has also reviewed the Muddy Creek and Island Mountain Prospects located approximately 16 km. southwest and 20 km. south-southwest of the Whistler Zone, respectively.

Muddy Creek

Muddy Creek is defined by an extensive surface geochemistry anomaly over an irregularly shaped area (Figure 3), from which 150 rock chip samples averaged 4.72 g/t gold with a peak value of 111.5 g/t. Refer to Geoinformatics' press release dated June 7, 2007 for details on sampling techniques and results. Mineralization at Muddy Creek is not porphyry-related, but consists of high-grade quartz veins associated with an equigranular monzonite intrusion. This style of mineralization more closely resembles the typical "Tintina Gold Belt" style found further north in Alaska. Geoinformatics intends to conduct reconnaissance exploration and possibly drill at Muddy Creek during 2008.

To view Figure 3, please visit the following link:
http://media3.marketwire.com/docs/whistlerFigure3.pdf

Island Mountain

The Island Mountain Prospect is defined by an extensive surface geochemistry anomaly and a coincident cluster of magnetic anomalies covering an area 4.5 km. by 3.2 km (Figure 4). Three areas-of-interest have elevated geochemistry anomalies, including an area approximately 2 km. by up to 1 km. with samples averaging 0.61 g/t gold and a peak value of 4.86 g/t gold. An airborne magnetic survey has a similar response to the Whistler Zone, and monzonite porphyry rocks have been mapped at surface. Kennecott completed two shallow holes that failed to adequately test the main geochemical anomalies, but still intersected gold grades of up to 3.85 g/t and copper grades up to 0.26%. Geoinformatics intends to conduct reconnaissance exploration and possibly drilling at Island Mountain during the 2008 season.

To view Figure 4, please visit the following link:
http://media3.marketwire.com/docs/whistlerFigure4.pdf

Historical Information, Intercept Calculations and Quality Control

In 2007, Geoinformatics completed IP surveys totalling approximately 13 line km., which complimented the airborne magnetics and IP surveys completed previously by Kennecott and Cominco. Geoinformatics is still in the process of completing detailed regional reconnaissance mapping and sampling and has not drilled outside the Whistler Zone. Therefore, most of the information contained in this release was compiled by Geoinformatics from data obtained from Kennecott. SRK Consulting (Canada) Inc, an independent consulting company, and Geoinformatics have reviewed the exploration methods and confirmed that sampling and drilling methods including quality assurance and quality control have been collected in accordance with exploration "best practice" methods. SRK has included this review in their independent 43-101 technical reports on Whistler Project which are available on SEDAR at www.sedar.com.

Historical geochemical data, sampling techniques, and drill results were detailed in Geoinformatics' press release dated June 7, 2007 and is also available on the Geoinformatics website at http://www.geoinformex.com/GXL_Home/projects/whistler_regional_data.html

Kennecott - Geoinformatics Alliance Agreement

All Whistler prospects and properties mentioned in this press release fall under the Kennecott-Geoinformatics Master Strategic Alliance Agreement (the "Alliance Agreement"). The Company entered into the Alliance Agreement effective March 2006, under which it is using its proprietary geo-science and technology platform (the "Geoinformatics Process") to identify, prioritize and drill more than 30 exploration drill targets over the initial two years of the Agreement. The Whistler Project was acquired by Geoinformatics as a target-of-merit under the Alliance Agreement in June 2007, and Kennecott retains a back-in right to acquire either a 51% or 60% interest in the project. Please refer to Geoinformatics' press-release dated August 14, 2006, for further information.

Qualified Person

The technical content of this release has been compiled by Darren Holden, MAusIMM, Executive, Vice President - Operations of Geoinformatics and is based in part on historic information obtained from Kennecott. SRK and Geoinformatics have both reviewed exploration methods and have confirmed that sampling and drilling methods including quality assurance and quality control have been collected in accordance with exploration "best practice" methods. SRK has included this review in their independent NI 43-101 technical reports which are available on SEDAR at www.sedar.com. Mr. Holden is a Qualified Person as defined under National Instrument 43-101 guidelines.

About Geoinformatics

Geoinformatics is a global exploration company which has developed a unique approach to minerals exploration applying innovative and proprietary technology.

Geoinformatics published an initial NI 43-101 resource estimate on the Azulitas Prospect at its La Noria Project in the State of Sinaloa, Mexico, in February 2008, and has several additional discoveries on the property. It is also actively exploring several other advanced projects 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 Geoinformatics' securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward-looking statements and the reader is cautioned against placing undue reliance thereon. We assume no obligation to revise or update these forward-looking statements.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Geoinformatics Exploration Inc.
    Mr. Kevin L. Snook
    Chairman
    (416) 861-1300 x226
    Email: kevins@geoinformex.com
    or
    Geoinformatics Exploration Inc.
    Mr. Darren Holden
    Executive Vice President - Operations
    (604) 605-3073 x101
    Email: darrenh@geoinformex.com
    or
    Geoinformatics Exploration Inc.
    330 Bay Street, Suite 1109
    Toronto, Ontario M5H 2S8
    Website: www.geoinformex.com