Geologix Explorations Inc.

Geologix Explorations Inc.

March 16, 2010 11:00 ET

Geologix Explorations Inc.: Trenching at Libertad Project Identifies 1.25 km Strike of Gold/Silver Mineralization

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 16, 2010) - Geologix Explorations Inc. (the "Company") (TSX:GIX)(FRANKFURT:GF6)(BERLIN:GF6)(STUTTGART:GF6)(MUNICH:GF6) is pleased to announce the completion of Phase I geochemical rock sampling and hand trenching on the Libertad property in Sonora State, Mexico. Assay results have outlined significant gold and silver mineralization, including results of 2.23 grams per tonne (g/t) gold and 52.5 g/t silver over 13.10 metres (m) and 9.91 g/t gold and 230.3 g/t silver over 3.50 metres.

A systematic program of channel sampling and hand trenching at 50 metre intervals over a 1,250 metre strike length collected a total of 639 samples, with highlights shown in Table 1 below. See the Company's website to view a map of the property and the location of the sampling highlights (

Table 1: Libertad Project Sampling Highlights

Composited Channel Sample Results - North to South
Trench No. Length (m) Au (g/t) Ag (g/t) Trench Comments
1 13.10 0.44 16.4 open both ends
2 11.70 1.27 42.4 open both ends
3 4.50 2.33 24.3 open both ends
4 13.10 2.23 52.5 open both ends
5 4.10 1.23 68.5 open both ends
6 3.70 0.28 17.3 open both ends
7 12.80 0.17 14.5 open one end
8 2.70 0.16 62.2 open both ends
9 3.20 0.12 113.6 open both ends
10 7.40 1.02 16.3 open one end
11 1.45 0.83 8.7 open one end
12 7.20 0.25 52.8 open both ends
13 5.10 0.94 209.9 open one end
14 4.20 0.18 74.9 closed off
15 4.50 1.37 115.8 open one end
16 3.60 0.39 38.8 open one end
17 3.50 9.91 230.3 open one end
18 3.60 0.53 64.8 open one end
Single Sample Results (separate from above) - North to South
Sample Length (m) Au (g/t) Ag (g/t) Sample Comments
A 2.00 6.31 29.6 open one end
B 0.30 5.82 420.9 closed off
C 0.35 0.32 140.4 open both ends
D 0.70 0.64 104.1 open one end
E 0.90 0.91 119.7 open one end
F 0.50 0.51 96.7 open both ends
G 1.80 3.38 43.4 open both ends
Note: Calculations give precedence to Fire Assay with Gravimetric finish results where present

The vein system remains open along strike, and multiple interval trenches cut across the system remain open at both ends. Follow up mechanical trenching and sampling to better determine both the width and strike of the system is expected to commence shortly. In addition, a geophysical (IP) survey has been initiated over the 1.8 km by 1.0 km central grid of the system. Upon completion of the IP survey and additional trenching, it is expected a first phase drilling program will be initiated to test any identified targets.

Dunham Craig, President and CEO stated: "We are pleased with the progress and initial results being garnered from the Libertad project. Though it's an early stage exploration opportunity for Geologix, our technical team recognized the geological characteristics of the project and its potential to host a gold and silver system that could meet our target size criteria. Initial results are beginning to confirm our expectations as drill targets are being identified, and expect additional targets to materialize as the results of the IP survey are completed."

The Libertad project is located 250 kilometres (km) north west of Hermosillo, and represents an early stage exploration project hosting a gold-silver mineralized vein system that has seen no prior systematic advanced exploration or drill testing, and only limited previous rock grab and chip sampling.

Geologix can earn up to an 85% interest in the project from Riverside Resources Inc (TSX-V:RRI) through a series of staged payments to Riverside totalling US$900,000 and work expenditures of US$5,000,000 over a period of six (6) years.

Geologix's Resource Geologist, Andrew Hamilton, B.Sc., P. Geo., a 'qualified person' for the purposes of National Instrument 43-101 Standards of Disclosure for Mineral Properties of the Canadian Securities Administrators, has verified the data (including sampling and analytical data) and prepared the information contained in this news release. The program consisted of channel samples collected across mineralized structures in outcrops and in hand dug trenches. Individual sample lengths varied from 0.3 metres to 2.0 metres. Assay results were length weight composited. No grade capping was applied.

Samples from the Libertad project were prepared by Inspectorate Labs of Hermosillo, Sonora, Mexico and then analyzed by Inspectorate Labs of Richmond, British Columbia, Canada using aqua regia digestion followed by 30 element ICP-AES analysis and a fire assay with an AA finish for gold. Samples returning results of greater than 1.0 g/t gold and greater than100 g/t silver were re-assayed using a fire assay with gravimetric finish. Internal lab controls include blanks, standards and randomly chosen duplicates. Inspectorate Labs is ISO certified.

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.

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

Contact Information

  • Geologix Explorations Inc.
    Jeffrey Wilson
    V.P. Corporate Communications
    (604) 894-1742
    Toll Free in Canada and USA: 1 (888) 694-1742
    Geologix Explorations Inc.
    Dunham Craig
    President & CEO
    (604) 694-1742