|July 14, 2011|
Geologix Commences Second Phase of Drilling at Libertad Project
Vancouver, BC, July 14, 2011 - Geologix Explorations Inc. (TSX: GIX) (the "Company") is pleased to announce the commencement of a second phase diamond drilling program at the Libertad project in Sonora state, Mexico.
The Company is proposing 5 holes totaling approximately 1,200 metres within a previously untested central portion of the project's gold and silver mineralized structure.
The Libertad project is located approximately 250 kilometres (km) northwest of Hermosillo. Geologix can earn up to an 85% interest in the project from Riverside Resources Inc (TSX-V: RRI) through a series of staged payments to Riverside totaling US$900,000 and work expenditures of US$5,000,000 over a period of six (6) years.
Geologix Explorations Inc. is a mineral exploration company focused on acquiring, exploring and developing mineral resource opportunities with the potential to host world class mineral deposits. The Company's primary focus is the Tepal Gold-Copper Porphyry Project in Michoacán State, Mexico, where the Company has completed a Preliminary Economic Assessment study ("PEA") of the existing resource and is continuing to aggressively explore for additional gold and copper mineralization in an effort to expand the size of the resource and scale of the possible future mining operation.
President & CEO
VP Corporate Communications
Toll Free: 1.888.694.1742
The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
You can view the Next News item: Wed Jul 20, 2011, Geologix Drilling at Tepal Expands Tizate Zone With 240 Metres of 0.18 g/t Gold and 0.20 % Copper
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