Geoinformatics Announces Exploration Update on Alliances in Australia and New Zealand.TORONTO -- Geoinformatics Exploration Inc. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:GXL GXL Graph eXchange Language (based on XML) GXL Graphics Library ) ("Geoinformatics" or the "Company") is pleased to provide an exploration update on its Alliances in Australia and New Zealand New Zealand (zē`lənd), island country (2005 est. pop. 4,035,000), 104,454 sq mi (270,534 sq km), in the S Pacific Ocean, over 1,000 mi (1,600 km) SE of Australia. The capital is Wellington; the largest city and leading port is Auckland. where Geoinformatics has a direct equity position in mineral tenements, a royalty position, and the ability to earn shares based on exploration success. HIGHLIGHTS Mt Read Volcanics Alliance in Tasmania, Australia with Bass Metals Ltd ("Bass Metals"; formerly Resource Finance and Investments Ltd) looking for Looking for In the context of general equities, this describing a buy interest in which a dealer is asked to offer stock, often involving a capital commitment. Antithesis of in touch with. gold and base metals. - significant gold-silver intersections at the Mt Charter prospect from two holes of 2.6g/t gold equivalent over 52.5 metres, and 2.6g/t gold equivalent over 80 metres, and from a third hole 15 metres of 2.1g/t Au, 38g/t Ag, 4.89% Zn, 1.9% Pb (10.4g/t gold equivalent) and 8.0 metres of 2.1g/t Au, 27g/t Ag, 2.9% Zn and 1% Pb (7.2g/t Au equivalent). -infill drilling of S-lens at Que River returned 2.8m of 3.9% Cu, 3.0% Zn, 93.1g/t Ag; 4.7m of 1.7% Cu, 0.2% Zn, 34.4g/t Ag, and 6.5m of 3.4% Cu, 0.6% Zn, 67g/t Ag. - Geoinformatics will be issued 250,000 shares of Bass Metals for every 0.5M oz Au equivalent of additional reserve/resources over 0.5M oz Au equivalent discovered at Mt Charter and 0.25M oz Au equivalent discovered at Que River. - Geoinformatics is currently earning 900,000 shares and 250,000 share purchase options in Bass Metals by undertaking a targeting project paid for by Bass Metals. Geoinformatics also has a 25% free-carried interest to pre-feasibility on ten exploration licenses in the Alliance area. Lachlan Alliance in the Lachlan Province of New South Wales New South Wales, state (1991 pop. 5,164,549), 309,443 sq mi (801,457 sq km), SE Australia. It is bounded on the E by the Pacific Ocean. Sydney is the capital. The other principal urban centers are Newcastle, Wagga Wagga, Lismore, Wollongong, and Broken Hill. , Australia where Geoinformatics and Gold Fields Gold Fields Limited is one of the world’s largest unhedged producers of gold, providing investors with maximum leverage to the gold price. The company was formed in 1998 with the amalgamation of the gold assets of Gold Fields of South Africa Limited and Gencor Limited. Australasia Limited ("Gold Fields") are exploring for Ordovician porphyry Porphyry, Greek scholar Porphyry (pôr`fĭrē), c.232–c.304, Greek scholar and Neoplatonic philosopher. He studied rhetoric under Cassius Longinus and philosophy under Plotinus. gold-copper deposits. - additional exploration targeting resulted in five additional exploration licences that have been applied for in addition to the seven licenses granted to date; - Gold Fields is committed to spend A$1 million to earn the right to select and then operate high quality targets as separate projects to earn a 75% interest by spending an additional A$1 million per target. Coromandel Cor`o`man´del n. 1. (Geol.) The west coast, or a portion of the west coast, of the Bay of Bengal. Coromandel gooseberry See Carambola. Coromandel wood Calamander wood. - Central Volcanic Region ("CCVR CCVR Center for Cardiovascular Research ") Alliance in the North Island of New Zealand with Glass Earth Limited ("Glass Earth") looking for gold, base metals and geothermal energy geothermal energy: see energy, sources of. geothermal energy Power obtained by using heat from the Earth's interior. Most geothermal resources are in regions of active volcanism. . -major aeromagnetic and airborne gravity surveys completed. Pre-drilling activities are scheduled to commence in February 2006; - acquired HPD HPD Honolulu Police Department (Honolulu County, Island of Oahu) HPD Housing Preservation and Development HPD Housing Preservation and Development (New York City Department) New Zealand Limited ("HPD"), expanding Glass Earth's existing permit areas to over 9900 square kilometres Square kilometre (U.S. spelling: square kilometer), symbol km², is a decimal multiple of the SI unit of surface area, the square metre, one of the SI derived units. 1 km² is equal to:
- Geoinformatics has a 2% NSR NSR abbr. normal sinus rhythm NSR Normal sinus rhythm, see there royalty on gold, base metal and geothermal energy targets in the Alliance area which includes the new HPD ground. Mt Read Volcanic Alliance, Tasmania- Bass Metals Ltd Bass Metals (ASX ASX See: Australian Stock Exchange :BSM BSM Business Service Management BSM Basic Security Module BSM Best Stations Memory (Pioneer car stereos) BSM Business Systems Modernization BSM Bronze Star Medal BSM Black Student Movement BSM Benilde-St. ; www.bassmetals.com.au) has recently announced significant Au/Ag mineralisation at Mt Charter, and Cu-Zn-Ag mineralization Mineralization The process by which the body uses minerals to build bone structure. Mentioned in: Rickets mineralization, n the bioprecipitation of an inorganic substance. in extensional drilling at Que River. Both projects are located within the Mt Read Volcanic Belt A volcanic belt is a large volcanic region. Other terms are used for smaller areas of activity; in shrinking size there are volcanic belts, clusters, chains and fields.[1] in NW Tasmania, Australia. Mt Charter The Mt Charter project is an extensive outcropping gold-silver system of barite-silica-pyrite veining vein·ing n. Distribution or arrangement of veins or veinlike markings. within an envelope of intense sericite-silica-pyrite alteration. Recent drilling of five diamond drill holes was undertaken to follow up on high tenor gold-in-soil anomalies generated by a recent soil sampling program. Full details of the drill results from the first three holes and their geological interpretation are contained in press releases to the Australian Stock Exchange Australian Stock Exchange (ASX) Australia's major securities market, formed when the six state stock exchanges (Adelaide, Brisbane, Hobart, Melbourne, Perth, and Sydney stock exchanges) were merged in 1987. by Bass Metals dated 15th December 2005 and 19th January 2006. The results of the first three diamond drill holes are summarized below. A lower assay cut of 1.0g/t was used with no upper cut as the maximum gold assay is 6.53g/t.
TABLE 1: Summary of Assay Results - Diamond Hole MCD020
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From To Downhole Gold Silver Gold
(m) (m) Interval (g/t) (g/t) Equiv.
(m) (g/t)
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1.7 54.2 52.5 2.0 39 2.6
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Which includes
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6.2 9.2 3.0 5.3 200 8.6
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TABLE 2: Summary of Assay Results - Diamond Hole MCD021
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From To Downhole Gold Silver Gold
(m) (m) Interval (g/t) (g/t) Equiv.
(m) (g/t)
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0 80 80 1.6 61 2.6
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Which includes
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9.6 22.5 12.9 2.7 96 4.3
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48.5 54.5 6 2.7 37 3.2
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TABLE 3: Summary of Assay Results - Diamond Hole MCD022
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From To Downhole Gold Silver Zinc Lead Gold
(m) (m) Interval (g/t) (g/t) (%) (%) Equiv.
(m) (g/t)
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56.0 71.4 15.4 2.1 38 4.8 1.9 10.4
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83.9 91.9 8.0 2.1 27 2.9 1.0 7.2
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Within a broader zone defined at a 0.5 g/t Au cut-off
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49.2 98.6 49.4 1.4 22 2.6 1 5.9
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The interpreted width of mineralization the section containing MCD020
and MCD021 is approximately 200 metres and around 70 metres to 80
metres in depth from surface. MCD022 is 100 metres north of MCD020 and
MCD021 and the interpreted width of mineralization on this section is
50 metres. Mineralisation is open in both directions along strike. The
location and status of assay results from of all holes is presented in
Table 4.
TABLE 4: Mt Charter First Pass Diamond Drilling Program
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Hole Local Grid Local Grid Depth Inclination Progress/
Number North East (m) results
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MCD020 4650 4257 100.6 -60 Complete/received
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MCD021 4650 4325 120.2 -60 Complete/received
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MCD022 4750 4320 120.2 -60 Complete/received
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MCD023 4750 4200 100.7 -60 Complete/pending
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MCD024 4650 4180 100.7 -60 Complete/pending
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Que River
At nearby Que River, Bass Metals has also announced results from the
start of infill drilling on S-lens (refer to Bass Metals'
announcements to the Australian Stock Exchange dated 15/12/2005 and
22/12/2005). To date assay results from three holes (QRD1223- QRD1225)
have been received. These results are summarized below:
TABLE 5: Summary of Assay Results - Diamond Hole QRD1223
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From To Downhole Horizontal Cu Zn Ag Au Pb
(m) (m) Interval Width (%) (%) (g/t) (g/t) (%)
(m) (m)
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32 34.8 2.8 2.0 3.9 3.0 93.1 0.35 0.9
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Within a zone comprising
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32 40.4 8.4 5.9 1.3 2.0 34.9 0.2 0.4
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TABLE 6: Summary of Assay Results - Diamond Hole QRD1224
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From To Downhole Horizontal Cu Zn Ag Au Pb
(m) (m) Interval Width (%) (%) (g/t) (g/t) (%)
(m) (m)
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97.7 102.4 4.7 3.4 1.7 0.2 34.4 0.2 0.2
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108.7 113.1 4.4 3.2 0.7 12.5 56.8 0.2 3.3
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Within a zone comprising
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97.7 113.1 16.4 11.8 0.8 3.6 33 0.2 1.0
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TABLE 7: Summary of Assay Results - Diamond Hole QRD1225
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From To Downhole Horizontal Cu Zn Ag Au Pb
(m) (m) Interval Width (%) (%) (g/t) (g/t) (%)
(m) (m)
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72.8 79.3 6.5 3.2 3.4 0.6 67 0.4 0.1
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The location and status of all diamond drill holes into S-Lens are
presented in Table 8
TABLE 8: S-Lens First Pass Diamond Drilling Program
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Hole Number Grid Grid Hole Target Planned Progress/
North East Dip Depth hole depth results
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1 QRD1223 7350 5260 -45 40 80 Complete/received
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2 QRD1224 7325 5240 -60 115 143.5 Complete/received
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3 QRD1225 7325 5240 -43 75 98 Complete/received
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4 QRD1226 7250 5225 -65 140 173.3 Complete/Pending
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5 QRD1227 7250 5221 -71 190 250 In Progress
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Exploration Licences In additional to the drilling at Que River and Mt Charter, work is underway on data compilation, interpretation and targeting on ten Geoinformatics' exploration licenses where Bass Metals is earning a 75% interest by sole funding exploration work up to completion of a pre-feasibility study. Initial regional targeting resulted in the identification of an additional area with a discrete electromagnetic electromagnetic /elec·tro·mag·net·ic/ (-mag-net´ik) involving both electricity and magnetism. electromagnetic pertaining to or emanating from electromagnetism. anomaly Abnormality or deviation. Pronounced "uh-nom-uh-lee," it is a favorite word among computer people when complex systems produce output that is inexplicable. See software conflict and anomaly detection. proximal proximal /prox·i·mal/ (-mil) nearest to a point of reference, as to a center or median line or to the point of attachment or origin. prox·i·mal adj. to historic mineral occurrences of barite barite (bâr`īt), barytes (bərī`tēz) [New Lat., from barium], or heavy spar, a white, yellow, blue, red, or colorless mineral. and lead. This area was subsequently applied for as an exploration license (ELA Noun 1. ELA - an extreme leftist terrorist group formed in Greece in 1971 to oppose the military junta that ruled Greece from 1967 to 1974; a revolutionary group opposed to capitalism and imperialism and the United States Revolutionary People's Struggle 38/2005). Lachlan, Alliance, New South Wales- Gold Fields Ltd Geoinformatics, through its wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. Clancy Exploration Pty Ltd PTY LTD Propriety Limited (company structure in Australia) ("Clancy"), is exploring for Ordovician porphyry gold-copper deposits in the Lachlan Fold Belt in New South Wales, Australia. The Lachlan Fold Belt is a well-endowed mineral province, hosting the world-class porphyry system Cadia-Ridgeway, which has an endowment of greater than 35Moz of gold and greater than 4Mt of copper. Clancy has been active in the Lachlan Fold Belt since 2003. In July 2004, Clancy entered into an Alliance with Gold Fields. Gold Fields committed to spending A$1M over a period of 30 months, earning it the right to select and then operate high quality targets as separate projects. For each selected project, Gold Fields can then earn a 75% interest by spending A$1M. GXL may then contribute or dilute di·lute v. To reduce a solution or mixture in concentration, quality, strength, or purity, as by adding water. adj. Thinned or weakened by diluting. to 10%, at which point GXL's interest will convert to a 2.5% NSR. Stage 2 probabilistic (probability) probabilistic - Relating to, or governed by, probability. The behaviour of a probabilistic system cannot be predicted exactly but the probability of certain behaviours is known. Such systems may be simulated using pseudorandom numbers. targeting was recently completed using a model-driven method of targeting for mineral deposits based on Monte Carlo Monte Carlo (môNtā` kärlō`), town (1982 pop. 13,150), principality of Monaco, on the Mediterranean Sea and the French Riviera. algorithms. Uncertainty and risk are incorporated into the targeting procedure thereby reducing the number of false positives and producing more robust targets. As a result of this work, the Clancy tenement A comprehensive legal term for any type of property of a permanent nature—including land, houses, and other buildings as well as rights attaching thereto, such as the right to collect rent. portfolio has been rationalized with seven titles relinquished re·lin·quish tr.v. re·lin·quished, re·lin·quish·ing, re·lin·quish·es 1. To retire from; give up or abandon. 2. To put aside or desist from (something practiced, professed, or intended). 3. and five new Exploration Licenses (EL) being applied for. Clancy currently has seven granted EL's and five EL applications in the Lachlan Fold Belt. An audit of targets has demonstrated successful identification of all known active Ordovician prospects and deposits, including some that have only recently been identified, and that were not known to GXL before the Monte Carlo targeting was undertaken. Clancy is currently compiling com·pile tr.v. com·piled, com·pil·ing, com·piles 1. To gather into a single book. 2. To put together or compose from materials gathered from several sources: all previous exploration data over the target areas and hopes to start drilling in the first half of 2006, once all permitting has been obtained. Coromandel/Central Volcanic Region Alliance, New Zealand- Glass Earth Limited Glass Earth (TSX-V: GEL: www.glassearthlimited.com) announced on December 23, 2005, its intention to acquire HPD. The North Island Exploration and Prospecting Permits of HPD are contiguous Adjacent or touching. Contrast with fragmentation. See contiguous file. with the Glass Earth exploration properties. This tenement holding gives Glass Earth license over some 9,900sq km in the Coromandel/Central Volcanic Region of the North Island, New Zealand; which is host to the 10 million ounce Waihi/Martha Hill Mine goldmine owned by Newmont Mining Newmont Mining Corporation NYSE: NEM, based in Denver, Colorado, USA, is one of the world's largest producers of gold, with active mines in, Nevada, Indonesia, Australia/New Zealand, Ghana, and Peru. Some smaller operations include Bolivia, Mexico, and Canada. Corporation. Glass Earth is targeting similar epithermal gold deposits in its permits, and also holds an exploration permit adjacent to the Waihi mine that potentially contains the strike continuation of some of the Waihi lodes. Geoinformatics' previous exploration update on the project released on August 29, 2005 (refer to press releases on www.geoinformex.com) detailed completion of a major airborne magnetics and gravity program by Glass Earth. The incorporation of this data into the major data base and models previously compiled by Glass Earth and Geoinformatics enabled delineation of twenty-one priority target areas that could potentially host large epithermal mineralization systems, and another eighty-five targets on the remainder of the prospecting permits creating a pipeline of projects for the future. Additional targets lie on already permitted ground covered by the HDP HDP High Density Polyethylene HDP High Density Plasma HDP Human Dimensions of Global Environmental Change Programme HDP Hazardous Duty Pay HDP Hurricane Destruction Potential HDP Hydrocarbon Dew Point HDP Hard Drive Password acquisition. Geoinformatics has a 2% NSR royalty on these targets for precious and base metals and geothermal energy. The last six Exploration Permits covering these targets should be granted to Glass Earth within the next month. Glass Earth has a pre-drill program scheduled to commence in February 2006. Qualified Person The technical content of this release has been provided by Dr. Nick Archibald, CP Geo/FAIMM. Dr. Archibald is a qualified person (as defined by National Instrument 43-101) who has more than 30 years experience in the minerals exploration/mining industry. About Geoinformatics Geoinformatics is a global resources company which has developed a unique and innovative approach to resources exploration. The Company's team of geoscientists and technical experts has created a scientific and technology platform (the "Geoinformatics Process") which integrates data aggregation, data mining and three-dimensional modeling to identify and prioritize pri·or·i·tize v. pri·or·i·tized, pri·or·i·tiz·ing, pri·or·i·tiz·es Usage Problem v.tr. To arrange or deal with in order of importance. v.intr. exploration drill targets. The Geoinformatics Process has been designed to assist in understanding and quantifying risk at a much earlier stage of the exploration cycle than has traditionally been available. The Company's objective has been to bring a faster, less expensive and more reliable analytical methodology to resources exploration. This news release includes certain forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. concerning the future performance of our business, its operations and its financial performance and condition, as well as management's objectives, strategies, beliefs and intentions. Forward-looking statements are frequently identified by such words as "may", "will", "plan", "expect", "anticipate", "estimate", "intend" and similar words referring to future events and results. Forward-looking statements are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating fluc·tu·ate v. fluc·tu·at·ed, fluc·tu·at·ing, fluc·tu·ates v.intr. 1. To vary irregularly. See Synonyms at swing. 2. To rise and fall in or as if in waves; undulate. v. commodity prices, competitive risks and the availability of financing, as described in more detail in our recent securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward looking-statements and we caution against placing undue reliance thereon there·on adv. 1. On or upon this, that, or it. 2. Archaic Following that immediately; thereupon. Adv. 1. thereon - on that; "text and commentary thereon" on it, on that . We assume no obligation to revise or update these forward-looking statements. The TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. does not accept responsibility for the ad equacy or accuracy of this release. Geoinformatics Exploration Inc. (TSX VENTURE:GXL) |
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