TORONTO, ONTARIO ("Geoinformatics" or the "Company") is pleased
to announce that it has received assay results from the first three
drill holes at the Los Laureles Prospect ("Los Laureles") on its La
Noria Project in Sinaloa, Mexico. The results confirm the discovery
of a new poly-metallic system, near the Company's previously
announced Azulitas discovery.
Highlights
- Hole 3 intersected 107 metres grading 0.12% Molybdenum (0.20%
MoS2), 0.14% copper, 0.08 grams per tonne (g/t) gold and 11.91 g/t
silver;
and included a higher-grade copper-gold-silver intercept of 8
metres grading 0.84% copper, 0.27 g/t gold and 56.5 g/t silver.
The hole ended in mineralization.
- Holes 1 and 2 also intersected high-grade mineralized
breccias:
Hole 1: 12 metres grading 0.18% molybdenum (0.30% MoS2), 0.36%
copper, 0.31g/t gold and 10.8 g/t silver.
Hole 2: 8 metres grading 0.23% molybdenum (0.38% MoS2), 0.31%
copper, 0.10 g/t gold and 9.7 g/t silver.
- The three drill holes were widely spaced (See Figure 1) and
indicate a mineralized strike-length of at least 400 metres, a
vertical extent of at least 200 metres and drilled widths of
between 10 metres and 107 metres.
- Two additional holes drilled in the same area have assay
results pending, but the drill core shows wide breccia intercepts
and visible mineralization.
Los Laureles Prospect
Los Laureles is located entirely within Geoinformatics' La Noria
Project and is approximately 10 km. east of the Company's Azulitas
discovery with its previously announced mineralized drill
intercepts. The target was identified initially through processing
of reconnaissance geochemistry and geophysical data. Mapping and
surface sampling revealed extensive soil geochemistry anomalies
associated with magnetite-quartz and tourmaline breccias bodies.
The soil anomalies are over 1 kilometre long by 600 metres wide
(See Figure 1) with copper greater than 1,000 parts per million
(ppm), molybdenum greater than 100 ppm, and silver greater than 3
ppm.
The discovery holes at Los Laureles are part of a 5-hole
reconnaissance program. Holes 1 and 2 (DDLL_07_01 & 02) were
drilled from the valley floor and angled underneath a portion of
the copper soil anomaly and intersected relatively narrow
tourmaline breccias with 8 to 12 metres of mineralization. Hole 3
was drilled from the top of a ridge and intersected 107 metres of
mineralized breccia. All holes contain visible chalcopyrite
(CuFeS2) and molybdenite (MoS2). Hole 3 was stopped before its
planned depth due to drilling problems, but ended in anomalous
mineralization.
The full geometry of the mineralization has not yet been
established, but the drilling has identified a strike length of at
least 400 metres and drilled widths ranging from 8 to 12 metres at
depth, which increases to over 100 metres closer to the
surface.
Holes 4 and 5 are currently being logged before being submitted
for laboratory assays. Each hole shows wide intercepts (greater
than 100 metres) of breccia with chalcopyrite and molybdenite
observed in both holes.
To view Figure 1 of the La Noria project, please visit the
following link:
http://www.ccnmatthews.com/docs/LosLaurelesfigure1.pdf
Table 1. Los Laureles drill intercepts from the first three holes
---------------------------------------------------------------------------
Molyb-
From To Interval denum MoS2 Copper Gold Silver
Hole (metres) (metres) (metres) (%) (%)(1) (%) (g/t) (g/t)
---------------------------------------------------------------------------
DDLL_07_01 200.0 212.0 12.0 0.18 0.30 0.36 0.31 10.79
---------------------------------------------------------------------------
---------------------------------------------------------------------------
DDLL_07_02 226.0 234.0 8.0 0.23 0.38 0.31 0.10 9.66
---------------------------------------------------------------------------
DDLL_07_02 245.0 247.0 2.0 0.10 0.17 0.50 0.07 16.35
---------------------------------------------------------------------------
---------------------------------------------------------------------------
DDLL_07_03 0.0 107.0 107.0 0.12 0.20 0.14 0.08 11.91
---------------------------------------------------------------------------
including(i) 6.8 77.0 70.2 0.17 0.28 0.13 0.11 15.84
---------------------------------------------------------------------------
including(ii) 61.0 108.0 47.0 0.05 0.08 0.29 0.07 12.99
---------------------------------------------------------------------------
including(iii) 69.0 77.0 8.0 0.11 0.18 0.84 0.27 56.50
---------------------------------------------------------------------------
All assays based on half sawn drill core; shipped to ALS Chemex
in Hermosillo, Mexico for preparation and then to ALS Chemex
Laboratory in Vancouver, Canada, for fire assay for gold (AAu2) and
4-acid digest ICP-AES (MEICP-61).
This program is reconnaissance drilling, and the orientation of
mineralized structures is yet to be established; hence true-width
cannot be estimated at this time.
Note 1: MoS2 is NOT an assay field, but is calculated by
multiplying molybdenum % by 1.6681.
All intervals calculated using a minimum 1-metre width and
4-metre internal dilution and based on a cut off of 0.01%
molybdenum except where indicated with:
(i) Calculated with minimum 1-metre width and 4-metre internal
dilution using a 0.04% molybdenum cut-off.
(ii) Calculated with minimum 1-metre width and 4-metre internal
dilution using a 0.1% copper cut-off.
(iii) Calculated with minimum 1-metre width and 4-metre internal
dilution using a 0.5% copper cut-off.
La Noria Project
The La Noria project is located approximately 60 km. northeast
of Mazatlan in the State of Sinaloa, Mexico. Geoinformatics has
been exploring this property since May 2006. The project
constitutes an area of mineral claims and option agreements
approximately 20 km. by 8 km. Geoinformatics has previously
announced positive drill results from several prospects on the
project area including:
Azulitas Prospect: Drilling confirmed mineralization over a
strike length of 300 metres to a depth of at least 220 metres with
previously reported intersections including 63 metres of 0.76%
copper, 0.10g/t gold, and 11.48 g/t silver.
La Verde Prospect: Drilling confirmed 76 metres grading 0.32%
copper, 0.04 g/t gold and 7.22 g/t silver.
Amarillito Prospect: Drilling confirmed 56 metres of 0.27%
copper, 0.03g/t gold and 9.65 g/t silver.
To view Figure 2 of the La Noria project, please visit the
following link:
http://www.ccnmatthews.com/docs/LosLaurelesfigure2.pdf
Geoinformatics' current objective on this property is to locate
several additional economic near-surface ore systems that could be
integrated into a single mining operation. The La Noria project is
located in low-rolling hills intersected by numerous roads and
tracks and serviced with existing electricity with a new
hydro-electric dam being constructed approximately 14 km. from the
project. The project is accessible for most of the exploration
year. The project is only 60 km. from the port facilities of
Mazatlan and 35 km. from a main rail-line.
The La Noria project is subject to the Kennecott-Geoinformatics
Alliance Agreement discussed below.
Table 2. Drill hole details (All coordinates in NAD27 UTM 13)
---------------------------------------------------------------------------
Hole_ID X Y Z Depth Dip Azimuth
---------------------------------------------------------------------------
---------------------------------------------------------------------------
DDLL_07_01 391827 2608782 366.01 289.85 -50 40
---------------------------------------------------------------------------
DDLL_07_02 391574 2608867 335.03 285.9 -50 40
---------------------------------------------------------------------------
DDLL_07_03 391699 2609306 436.83 109.3 -50 220
---------------------------------------------------------------------------
DDLL_07_04 391955 2609306 437 290 -45 220
---------------------------------------------------------------------------
DDLL_07_05 391770 2609100 420 350(a) -50 45
---------------------------------------------------------------------------
(a) Planned depth, drilling currently in progress
Qualified Person
The technical content of this release has been compiled by
Darren Holden, MAusIMM, Executive Vice President, Operations, of
Geoinformatics. Mr. Holden is a Qualified Person as defined by
National Instrument 43-101.
About Geoinformatics
Geoinformatics is a global exploration company which has
developed a unique approach to minerals exploration applying
innovative and proprietary technology.
The Company recently announced an independent 43-101 compliant
mineral resource estimate comprising an Indicated Resource of
840,000 ounces of gold and an Inferred Resource of 2.7 million
ounces on the initial discovery zone at the Whistler Project in
southern Alaska. Significant copper and silver mineralization
increases the Indicated gold-equivalent mineral resource to 1.3
million ounces and the Inferred mineral resource to 4.4 million
ounces.
Geoinformatics is also actively exploring several advanced
projects located in Utah, the Cortez Trend region of Nevada, and
British Columbia. Fourteen Company-owned properties in the State of
Sonora, Mexico, fall under a joint venture in which Azure Minerals
Limited is earning a 51% interest by spending US$4 million.
Geoinformatics also has an extensive portfolio of other direct and
indirect property interests, joint ventures, and royalties covering
a wide range of minerals in Mexico, Australia and New Zealand and
North America.
The Geoinformatics Process integrates large-scale data
aggregation, data mining and three-dimensional modeling, and has
been designed to assist in understanding and quantifying risk at a
much earlier stage of the exploration cycle than has traditionally
been available. The Company's objective is to advance its
properties to the stage of commercial development by applying
faster, less expensive and more reliable analytical methods to
resource exploration.
Kennecott - Geoinformatics Alliance Agreement
The La Noria Project mentioned in this press release fall under
the Master Strategic Alliance Agreement (the "Alliance Agreement")
between Geoinformatics and Kennecott Exploration Company. The
Company entered into the Alliance Agreement effective March 2006
under which it has been using its proprietary geo-science and
technology platform (the "Geoinformatics Process") to successfully
identify, prioritize and drill more than 30 exploration drill
targets over the initial two years of the Agreement. La Noria was
acquired by Geoinformatics as a target-of-merit under the Alliance
Agreement, and Kennecott retains a back-in right to acquire either
a 51% or 60% interest. Please refer to Geoinformatics'
press-release dated August 14, 2006, for further information.
This news release includes certain forward-looking statements
concerning the future performance of Geoinformatics' business,
operations and financial performance and condition, as well as
management's objectives, strategies, beliefs and intentions.
Forward-looking statements are frequently identified by such words
as "may", "will", "plan", "expect", "anticipate", "estimate",
"intend" and similar words referring to future events and results.
Forward-looking statements are based on the current opinions and
expectations of management. All forward-looking information is
inherently uncertain and subject to a variety of assumptions, risks
and uncertainties, including the speculative nature of mineral
exploration and development, fluctuating commodity prices,
competitive risks and the availability of financing, as described
in more detail in our recent securities filings available at
www.sedar.com. Actual events or results may differ materially from
those projected in the forward looking-statements and
Geoinformatics cautions against placing undue reliance thereon.
Neither Geoinformatics nor its management assumes any obligation to
revise or update these forward-looking statements.
The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this release.
Contacts: Geoinformatics Exploration Inc. Dr. Nick Archibald
Executive Vice-Chairman and CEO (416) 861-1300 x224 Email:
nicka@geoinformex.com Geoinformatics Exploration Inc. 330 Bay
Street, Suite 1109 Toronto, Ontario M5H 2S8 Geoinformatics
Exploration Inc. Darren Holden Executive Vice President, Operations
(604) 605-3073 x101 Email: darrenh@geoinformex.com Geoinformatics
Exploration Inc. 700 West Pender Street, Suite 304 Vancouver,
British Columbia V6C 1G8 Website: www.geoinformex.com
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