Geologix Explorations Inc.

Geologix Explorations Inc.

March 02, 2007 08:00 ET

Geologix Explorations Inc.: San Agustin Sampling Extends Strike Length of Mineralization 1.2 Kilometres Northeast

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VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 2, 2007) - Geologix (TSX VENTURE:GIX)(FRANKFURT:GF6) is pleased to report that outcrop and road cut chip sampling at the San Agustin project in Durango State, Mexico has extended the mineralized gold/silver trend 1200 metres north-east from previous exploration drilling. This new extension, called Zone 3 by Geologix, was not sampled by previous operators and displays geological continuity similar in style to the 500 metre long Main Zone that hosts the majority of the known resource.

Since Geologix signed its option agreement in September 2006, the overall gold trend has been expanded from the original 500 metres to currently 2200 metres on strike and is open in both directions as well as to depth (See Map A). These 2200 metres include the newly discovered 500 metre extension to the south west noted in Geologix's news release dated January 18, 2007.

The current inferred resource at San Agustin is 11.22 million tonnes averaging 0.96 grams per tonne of gold and 12.86 grams per tonne of silver (346,000 ounces of gold, 4.6 million ounces of silver). For particulars of this resource see Geologix's news release dated August 29, 2006 and its resource report entitled Technical Report on the San Agustin Property, Revised dated October 10, 2006 prepared by James A. McCrea, P. Geo., both of which have been filed on SEDAR.

Systematic drilling and mechanized trenching is planned for Zone 3 in the 2nd quarter of 2007.

A total of 418 outcrop and road cut samples have been collected during January 2007 within Zone 3. Sample widths and lengths vary due to size of particular outcrops and road cuts.

Zone 3 sample interval highlights are noted below: (See Map B)

----------------------------------- -----------------------------------
Length Gold Silver Length Gold Silver
Sample (metres) (g/t) (g/t) Sample (metres) (g/t) (g/t)
------ ------ ---- ------ ------ ------ ---- ------
A 8.0 6.08 11 I 1.3 1.12 38
B 4.0 5.53 30 J 2.8 0.80 28
C 1.0 5.46 11 K 3.0 0.75 15
D 2.0 2.22 54 L 6.0 0.65 43
E 10.0 2.06 1 M 30.0 0.52 15
F 12.0 2.04 3 N 12.1 0.43 84
G 1.0 1.59 110 O 12.0 0.26 21
H 1.5 1.15 212 P 3.0 0.03 59
----------------------------------- -----------------------------------


Phase 1 diamond drilling commenced on the property during January 2007 with a planned 2500 metres of HQ diameter utilizing orientated core techniques. To date, 5 holes have been completed. Two holes are located in the Main Zone near Trench F to identify mineralization style, continuity and structural controls. Three holes have been completed in an area with no previous drilling and are targeting distinct geophysical & geochemical anomalies 500 metres south west of the Main Zone near Trench C (See Map A).

Geologix is continuing drilling with the next hole testing the Zone 4 extension. Zone 4 contains long drill intervals of Zn/Au/Ag mineralization in a parallel and separate zone located 300 metres south east of the Main Zone (See Map A). The drill hole will test an un-drilled area 100 metres on strike from the following 3 holes drilled by previous operators:

ID FROM TO (Metres) Au g/t Ag g/t Zn%
SA-02(i) 32 100 68 0.30 10.9 0.9%

SA-82(i) 50 126 76 0.48 23.2 0.7%

SA-83(i) 77 200 123 0.54 16.9 1.1%

(i) Drilled by previous operators

Subsequent to the completion of Zone 4 drilling, the drill will be moved to Zone 3.

The Company's President and CEO, Dunham L. Craig, B.Sc., P. Geo., a 'qualified person' for the purposes on National Instrument 43-101 Standards of Disclosure for Mineral Properties, has verified the data (including sampling, analytical and test data) and prepared or supervised the preparation of the information contained in this new release. Sample analysis was completed by ALS Chemex Laboratory Services Limited, Vancouver, British Columbia. Samples were fire assayed for gold, with AA finish; results for other elements used the ICP Procedure.

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.

To view Map A please click on the following link:

To view Map B please click on the following link:

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 or Toll Free in Canada and US: 1-888-694-1742
    Geologix Explorations Inc.
    Dunham Craig
    President & CEO
    (604) 694-1742 or Toll Free in Canada and US: 1-888-694-1742