|March 15, 2018|
Geologix Provides Results of 2017 Exploration Program and Identifies New Potential at Tepal
|Vancouver, B.C., March 15, 2018 -- Geologix Explorations Inc. (TSX: GIX) ("Geologix" or the "Company") is pleased to present a summary of results from its 2017 exploration program and provide a 2018 outlook for its 100% owned Tepal Gold/Copper Project ("Tepal") located in Michoacán state, Mexico. Geologix's management team and board of directors are committed to increasing shareholder value via focused exploration that the Company believes will improve Tepal's existing resource base and lead to additional discoveries, with the goal of enhancing the Preliminary Economic Assessment ("PEA") (see press release dated January 19, 2017) prior to advancing the project to the pre-feasibility and/or feasibility stage.|
2017 Exploration Program Highlights:
Gillian Kearvell, VP Exploration, added: "While it is not uncommon in today's market driven environment to seek short cuts to reduce the timeline to discovery, positive exploration results are nevertheless dependent on time, hard work and persistence to succeed. This important new interpretation at Tepal is a direct result of the focused effort and dedication shown by the field exploration team with the support of key stakeholders. We are delighted by the success of the 2017 field program and are very much looking forward to an exciting exploration year ahead."
2017 Exploration Program Details:
The objectives of the 2017 exploration program were to evaluate new higher-grade and/or bulk tonnage exploration targets with the potential to improve the existing mineral resource as well as assess the potential for new discoveries. Table 1 summarizes the Company's surface exploration activities from June 2017 to date.
Table 1 -- Surface Exploration Program Through February 2018:
The 2017 exploration program initially identified two distinct mineralizing phases or events and previously untested mineralized structural trends. Mineralizing phases are further described as follows:
Previous exploration at Tepal has focused exclusively on defining a porphyry-style deposit. The new interpretation replaces the porphyry model with one that is structurally controlled. Mapping and Niton XRF surveys from the 2017 program have supported the re-interpreted model by showing an absence of the usual porphyry indicators, such as alteration halos and patterns that typically include an outer chlorite/pyrite zone, classic silicification and/or potassium alteration in mineralized zones. Tepal's mineralization patterns are consistent with a structurally controlled epithermal model that is the foundation for further drill testing and greatly enhances the exploration potential of the project. Importantly, this provides clear vectors for: 1) previously unexplored mineralized trends along structural controls; 2) bulk tonnage potential between structural corridors; and 3) highly prospective regional exploration potential in similarly untested settings.
The 2017 program was subsequently extended into the 2018 calendar year by implementing additional core re-logging and field checks to test the new exploration model. This program successfully identified multiple new targets for follow-up drilling this year (see Figure 1). Field checks have also resulted in a significant new discovery of a previously unknown and untested high sulphidation epithermal system underlying the Tepal property. This new exploration target was initially recognized in outcrops of vuggy silica alteration associated with a series of high-angle faults.
Figure 1 -- New Drill Targets Identified in the 2017 Exploration Program:
Selected samples were subsequently verified by a Portable Infrared Mineral Analyzer X-Ray Diffraction (PIMA XRD) analysis that confirmed the presence of important pathfinder minerals for a high sulphidation system, including illite, dickite, diaspore and pyrophyllite. Five new areas with high sulphidation exploration targets were located within the Tepal property boundary that, taken collectively, suggests a larger system is underlying the property (see Figure 1). To date, one of five chip samples collected from vuggy silica outcrop returned 2.28 g/t Au and 32.6 g/t Ag (sample 10610, located on Figure 1). The remaining four samples were not anomalous, which points to the early stage of exploration work. Due to their higher-grade and bulk tonnage potential, high sulphidation zones are priorities for follow-up exploration as surface mapping and sampling programs continue to advance these and other drill targets.
2018 Exploration Focus:
In addition to advancing the new discovery of a high sulphidation system, the 2017 program identified multiple priority targets for an anticipated 2018 drill program. Each of the following drill targets merit further testing for possible inclusion in an updated resource:
Figure 3 -- Plan View and Oblique Section of North and South Pit Zone:
Geologix has assembled a highly technical team of experienced geologists with a track record of discovery in Mexico to execute a planned 2018 exploration drilling program. The team's objective is to realize the full value of Tepal through focused exploration activities that can enhance the existing mineral resource and build on its underexplored district-scale potential.
About Geologix Explorations Inc.
Geologix is a mineral exploration and development company focused on acquiring, exploring, and developing mineral resource opportunities with the potential to host profitable mining operations. The Company's primary focus is the Tepal Gold/Copper Project in Michoacán state, Mexico.
Dunham L. Craig, B.Sc., P.Geo, Chairman of the Board of Directors of Geologix, is the Qualified Person (as that term is used in National Instrument 43-101 Standards of Disclosure for Mineral Projects) who has approved and assumes responsibility for the technical disclosures in this press release.
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