Geomark Exploration Ltd.
TSX VENTURE : GME

Geomark Exploration Ltd.

June 28, 2011 08:00 ET

Geomark Announces Initial Timmins Area Drill Results

CALGARY, ALBERTA--(Marketwire - June 28, 2011) -

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Geomark Exploration Ltd. (TSX VENTURE:GME) reports results obtained from the first three holes (1687 meters) of its ongoing drill program in the Timmins area, Ontario. The three initial holes, part of a proposed 4000 meter drill program, were all completed on its 90% owned Carr Wilkie property, located 55 kilometers east of the City of Timmins. The drill holes tested both new geological/geophysical targets and extensions of the Carlo Gold Showing which reportedly assayed high grade gold values over very short intervals in historical surface sampling programs.

One of the holes (CW19-11) testing the on-strike extension of the Carlo Showing returned three separate zones of low grade gold mineralization. The upper zone (141.4-152.18m) returned 1.3 gmt gold over 10.78 meters in a silicified, weakly pyritic volcanic host. This interval includes a 3.3 meter zone of un-sampled core currently assigned zero grade (the 3.3 meter section has since been sampled and submitted for assay).

Two lower horizons of altered and quartz veined material located peripheral to a quartz-feldspar porphyry unit in the same hole also returned low grade gold assays of 2.2 gmt over 3.23 meters (349.6 – 352.83m) and 7.4 gmt gold over 0.4 meters (364.73-365.17m). While the gold grades themselves are of limited interest, the combination of grade and alteration observed in the hole is encouraging and similar to mineralization on adjacent properties. On this basis, Geomark has decided follow-up drillholes are warranted and drilling will commence immediately. The other two drillholes at Carr Wilkie tested different targets on the property and no gold values of note were present in either of those holes.

Drilling by Geomark on the Thornloe Property in the West Timmins area has now been completed. A total of 2659 meters in 4 holes have been completed. Assay turn-around with the laboratory has been very slow. Results will be released as they are received and verified. Geomark has a 100% interest in the Thornloe property.

The other six Timmins area properties controlled by Geomark are currently being evaluated in detail. All of these properties have undergone varying degrees of exploration over the past 20 years with most of the work concentrated within 350 meters of surface. With recent gold discoveries in the area being found at depth, the current, and future, drill program(s) by Geomark on its Ontario gold projects will target the deeper exploration potential of the properties.

The Company is spending a lot of time assessing and pursuing new precious metal properties that can be added to the Company's portfolio. This is a priority for Geomark management and we remain optimistic that additional opportunities will develop in the near term.

Doug Dumka, P.Geo. is the Exploration Manager for Geomark Exploration Ltd and designated Qualified Person (Q.P.) for the Timmins Drill Program and is supervising drill hole planning and quality control/quality assurance programs.

Drill core analysis is performed on cut, half NQ core with standard fire assay procedures and an AA finish (1 assay ton, 1000 gram pulp). QA/QC programs employ the insertion of external standards (low to high grade gold), blanks, and core duplicates approximately every 20 samples. All assaying was completed by Swastika Laboratories Ltd. based in Swastika, Ontario. Swastika completes its own internal QA/QC by inserting a standard, blank, pulp duplicate, and coarse reject duplicate in every batch of approximately 60 analyses. QA/QC compliance is rigorously checked on a continuous basis during the exploration program.

Meterage provided is measured down hole and intersection widths are interpreted to be approximately 80% of true width.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Geomark Exploration Ltd.
    George Fink
    Chairman of the Board and CEO
    403-262-1400
    www.geomark.ca

    Geomark Exploration Ltd.
    Mark Balog
    President and COO
    403-262-1400
    www.geomark.ca

    Geomark Exploration Ltd.
    Kirsten Kulyk
    Manager- Investor Relations
    403-262-1400
    www.geomark.ca