Geologix Explorations Inc.

Geologix Explorations Inc.

December 14, 2006 09:42 ET

Geologix Explorations Inc.: San Agustin, Mexico Ground Work Completed

Huacullo, Peru Drilling Advances Geologix Upgraded to TSX:V Tier 1 Status

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Dec. 14, 2006) - Geologix Explorations Inc. (TSX VENTURE:GIX) (FWB:GF6) -


Trenching of the northeast gold trend is now complete over 700 meters of strike potential from the last historical drill holes. A total of six (6) trenches with a cumulative length of 922 meters were sampled with assays awaiting lab completion. Additionally, 135 soil samples were collected in the covered area southwest from the known zones. Induced Polarization (IP) geophysics and ground magnetic surveys are now complete as is the three dimensional geological model.

Assay results from the trenches and soil samples are expected soon. Drilling is anticipated in January, 2007.

Huacullo, Peru

Geologix has completed two of three holes in the Huacullo porphyry area. Hole #1 intersected various porphyry intrusive phases and widespread potassic alteration and stockwork quartz veining bottoming in favorable alteration at 245 metres as was expected in the drill program design. Hole #2, located 400+ meters south of hole #1, intersected porphyry intrusive with intense argillic alteration near surface and then entered potassically altered rocks to its final depth at 282 meters. The third hole, a step-out of over 700 metres to the west, is currently being drilled. Assay results are pending.

Upon completion of the third hole, the drill will be mobilized to the Huacullo West high sulphidation target 4 kilometres from Hole #3.

Tier 1 Status on the TSX Venture Exchange

Geologix is pleased to report that in accordance with the TSX Venture Exchange Policy 2.5, it has met the requirements for a Tier 1 company. Effective December 12, 2006, the TSX Venture Exchange has changed the company's tier classification from Tier 2 to Tier 1.

The technical information contained in this news release has been reviewed and approved by, Geologix President and CEO, Dunham L. Craig, P.Geo., a 'qualified person' for the purposes of National Instrument 43-101.

Geologix Explorations Inc. is a mineral exploration company focused on acquiring, exploring and developing gold properties in North and South America. The Company has a wealth of experience in the mining industry taking early stage exploration prospects to final feasibility and ultimately to production.

This News Release may contain forward-looking statements including, but not limited to, comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements

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

Contact Information

  • Geologix Explorations Inc.
    Michael Mallard, V.P. Corporate Communications
    (604) 694-1742
    Toll Free in Canada and USA: 1-888-694-1742
    Geologix Explorations Inc.
    Dunham Craig, President & CEO
    (604) 694-1742
    Toll Free in Canada and USA: 1-888-694-1742