Geomark Exploration Ltd.
TSX VENTURE : GME

Geomark Exploration Ltd.

September 16, 2011 13:11 ET

Geomark Announces Timmins Area Drill Results

CALGARY, ALBERTA--(Marketwire - Sept. 16, 2011) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

Geomark Exploration Ltd. (TSX VENTURE:GME) reports results obtained from the last of the drillholes on the Carr-Wilkie and Thorneloe gold properties in the Timmins area, Ontario. A total of 6,470 meters in 11 drillholes were completed by Geomark on two properties, with results from the first three holes (1,687 meters) on the Carr-Wilkie property reported in release 11-6 (dated June 28, 2011). Subsequent to this release, a total of 2,659 meters in four holes tested the 100% owned Thorneloe property and three follow-up Carr-Wilkie drillholes totaling 2,124 meters were completed on the Carr-Wilkie gold property.

On the Thorneloe gold property, a total of four holes tested three different structural trends. Drillhole TH01-11 tested a geophysical target on the west end of the Thorneloe property at or near the interpreted location of the Destor Porcupine Fault (DPF). Drillhole TH-02-11 targeted the down dip extension of low grade gold values intersected in historic drillholes into the Thibeault Zone also on the western end of the property. Drillholes TH04-11 and TH05-11 tested the extreme east end of the Golden River East zone (currently the focus of considerable attention by Lakeshore Gold Corporation) which strikes directly onto Geomark's Thorneloe gold property (see the attached Thorneloe property figure). The two holes were one kilometer apart and tested considerably down dip from older near-surface drillholes. Despite increased shearing and alteration in the holes, none of the four Thorneloe holes returned any gold values of note.

On the 90% owned Carr-Wilkie property, three follow-up drillholes were recently completed on a previously released 2011 Geomark drillhole (CW19-11) which yielded three separate zones of low grade gold values (1.3 g/t gold over 10.8 meters, 2.2 g/t over 3.23 meters, and 7.4 g/t over 0.4 meters). Drillhole CW20-11 was collared to undercut CW19-11 and returned 1.8 g/t gold over 4.0m from 251.3-255.3 meters (interpreted to be the down-dip continuation of the upper zone in hole CW19-11). A second zone of 1.3 g/t gold over 1.5 meters from 500.3-501.86 meters in the same hole is correlated with the lower two intersections in the original CW19-11 drillhole.

The second follow-up drillhole CW-21-11 was drilled 200 meters west of CW19 and 20 (see attached map Carr-Wilkie Gold Property) and intersected very narrow low grade intersections of 3.3 g/t gold over 0.9 meters (88-88.8m) and 4.6 g/t gold over 1.0 meters (529-530m). Follow-up drillhole CW22-11 was collared 150 meters east of CW19-11 and also hit multiple (5) narrow (0.5-1.7m) zones of low grade (1.3-2.9 g/t gold) mineralization. The three holes averaged 700 meters in length and were targeting zone depths of approximately 500 vertical meters. The Carr Wilkie property is located 55 kilometers east of the City of Timmins.

Despite the low gold tenor in these eleven drillholes, the alteration and shearing indicates proximity to a potential mineralized system and further assessment of these results will be undertaken prior to any additional programs on the two properties.

In addition to the Ontario drill program, Geomark personnel have been very actively searching for new mineral exploration projects for the Company. Over a hundred properties have been examined in the past year, with 30 of these advancing to the Confidentiality Agreement stage and detailed analysis. Property field visits have been undertaken to numerous projects and will continue to be made to various locations in the United States and Canada. The Company's main focus is precious metals (gold and/or silver), but other commodities are being considered on a property by property basis.

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. Assaying for drill holes TH-01-11,TH-02-11, TH-03-11, TH-04-11 and TH-05-11 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.

Because of poor turnaround times at Swastika, assaying for holes CW-20-11, CW-21-11 and CW-22-11 was completed by AGAT Laboratories, with the sample prep done at the AGAT Sudbury facility and fire assay at their Mississauga facility. The sample protocol was identical to that used at Swastika.

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
    403-232-1421 (FAX)

    Geomark Exploration Ltd.
    Mark Balog
    President and COO
    403-262-1400
    403-232-1421 (FAX)

    Geomark Exploration Ltd.
    Kirsten Kulyk
    Manager – Investor Relations
    403-262-1400
    403-232-1421 (FAX)
    www.geomark.ca