Tuesday, 13th May 2008 (530 views)

The third phase of drilling in the Section 350 zone of the San Agustin project in Mexico has intercepted new gold mineralisation and doubled the width of the Zone 2 vein, the company developing the site has said.

Canadian firm Geologix Explorations reported that drilling had returned gold grades of 0.46 g/t gold over 294.30 metres, 0.62 g/t gold over 178.30 metres and 0.25 g/t over 350.40 metres.

There were additional intercepts of 0.23 g/t gold over 151 metres, 0.31 g/t gold over 144 metres and 0.29 g/t gold over 25.30 metres.

Geologix Explorations president and chief executive Dunham Craig said he was "extremely pleased" with there results of the latest phase of drilling and that the company would use the results to compile a new preliminary resource estimate for the site later in 2008.

"Considering our company began receiving new drill results only one year ago, we are impressed with how the mineralization is rapidly expanding and showing very good continuity," he commented.

 

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