Geologix Discovers Additional Zone Of Bonanza Grades

VANCOUVER, BC - Geologix Explorations Inc. reported two diamond drill rigs have been mobilized to the Company's Liscay Project in Peru to commence a phase-one drilling program on multiple untested target areas. The Company is also pleased to announce the discovery of new outcrops of bonanza-grade mineralization, returning grades up to 32 g/t gold and 1,020 g/t silver across 0.4 metres, which will be one of several targets in the upcoming drill program at Liscay.
The drilling program will consist of approximately nine holes totalling 1,500 metres, and will target outcropping mineralization as well as geophysical anomalies at greater depth and below cover. The Liscay Project hosts several zones of bonanza-grade precious-metal mineralization occurring as veins, stockworks, and mineralized structural zones. Two principal zones, the NE Zone and SW Zone have been the focus of preliminary exploration work, where previous work returned values up to 76.6 g/t gold and 1,205 g/t silver across 1.3 metres. These mineralized trends have been found to exceed 5 kilometres in length, have no prior drilling, and show no evidence of previous prospecting. Induced polarization (IP) geophysical surveys completed over these areas have yielded distinct resistivity and chargeability anomalies at surface and down-dip (plunge) of the outcropping. The geophysical anomalies are interpreted to be zones of increased quartz deposition (silicification or broader veins in the case of resistivity anomalies) or increased sulphide content within the structures (in the case of chargeability anomalies).
Elsewhere at Liscay, recent mapping and sampling has discovered a third zone of outcropping bonanza-grade mineralization. This zone is exposed along a strike of 100 metres (covered along trend), in aggregate is up to 10 metres wide, and hosts multiple mineralized quartz breccia replacements zones. Individual structures have been found to grade up to 32 g/t gold and 1,020 g/t silver across 0.4 metres. Numerous samples grading + 4 g/t gold and +100 g/t silver across widths up to 1.0 metre have come from this newly discovered zone. This new zone will be tested as part of the drill program.
The company's address is #1003-750 West Pender Street, Vancouver, BC V6C 2T8.