Geologix Discovers A New Zone Of High Grade Mineralization

VANCOUVER, BC - Geologix reported high grade gold and silver mineralization has been identified at the Liscay project in Central Peru. Detailed sampling of the numerous veins has returned values up to 76.6 g/t gold and 1,205 g/t silver across 1.3 metres from an area where previous reconnaissance sampling had yielded 7.2 g/t gold, 304 g/t silver and 1.2 g/t gold, 748 g/t silver across similar widths. A new zone of epithermal veining with high precious-metal values has also been discovered located approximately 6 kilometres to the southwest. Values up to 27.5 g/t gold, 1,110 g/t silver over 0.4 metres and 0.8 g/t gold, 736 g/t silver across 1.5 metres have been detected in limited sampling within the new zone.
To date a total of approximately 780 rock samples have been collected by Geologix on the project, 435 samples in the NE epithermal zone, 321 samples in the Central mesothermal zone and 24 samples in the SW epithermal zone. Statistics show gold and silver dominated mineralization in the epithermal zones with 14% of the samples in the NW Zone grading higher than 0.5 g/t Au and 21% grading higher than 10 g/t Ag. In the SW Zone 38% of samples grade higher than 0.5 g/t Au and 54% of samples grade higher than 10 g/t Ag.
Recent geological mapping continues to show intense and extensive vein development in several areas on the Liscay property. Currently defined vein swarms lie within an area of 12 x 6 kilometres and the ultimate extent of mineralization is yet to be determined. Individual zones of veining and stockwork development have been found with dimensions up to 300m by 3 kilometres.
Additional mapping and detailed sampling of the newly discovered zone of high grade mineralization will commence immediately. Geophysical surveying (Induced Polarization) to define drill targets has been budgeted and will commence as soon as sampling has been completed. It is anticipated that geophysical anomalies will be drill tested in the by the end of 2008.
Dunham Craig, President and CEO states; "As far as we know, the Liscay project has never been sampled before and is a discovery of previously unknown mineralization. Our alliance with Newmont is working; we wanted to break open new ground in Peru as it fits with our corporate model of discovering large deposits, and we see this success of a gold/silver system exhibited over a 12 km by 6 km area as a result of our dedicated team work, persistence and excellent support from Newmont. Other Alliance areas and properties are under evaluation and we see this as the first of several more projects to come."
The company's address is  #1003, 750 West Pender Street, Vancouver, BC V6C 2T8.