Geoinformatics Exploration Inc. (TSX-V: GXL) is pleased to announce that it has completed an eight-hole, 2,996 metres, drill program at its Falcon Prospect, a molybdenum-copper discovery, within its Redton Project, located in the northern Quesnel Trough in British Columbia.
Highlights
- All eight holes intersected visible molybdenite (MoS(2)) mineralization with five holes intersecting porphyry; and
- All holes pending assay results.
The 2008 drill program focused on the area where the Company made a grass roots discovery with its 2007 drill program. The 2007 program returned extensive molybdenum and low-grade copper intercepts including 345.6 metres grading 0.059% MoS(2) and 144 metres grading 0.093% MoS(2) with a high grade interval of 78 metres of 0.135% MoS(2). Please refer to the Company's press release dated January 23, 2008 for further details.
Minor visible molybdenite mineralizationhosted in coarse-grained granodiorite rock was intersected in all eight holes, with five of the holes intersecting a quartz monzonite porphyry with a visually higher tenor of molybdenite than that contained in the granodiorite. The quartz monzonite porphyry has now been confirmed over a strike length of 300 metres with average intersected widths of 125 metres. With all holes intersecting minor visible molybdenite the overall system is now confirmed over extents of 420 metres long by 400 metres wide and to a vertical depth of approximately 350 metres and is open in all directions. Minor chalopyrite (CuFeS(2)) - a copper bearing mineral has also been observed.
"We are very pleased with the progress of this year's drill program," commented Mr. Darren Holden, Chief Operating Officer of the Company. "The drilling has confirmed the extents of the overall system and provides further confirmation that our approach to exploration is highly successful. We eagerly await assay results and will release them as soon as they become available." -- www.cnxmarketlink.com
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