Overview
Geologix Explorations Inc. is a mineral exploration company focused on acquiring, exploring and developing gold properties in North and South America. The Company has a wealth of experience in the mining industry taking early stage exploration prospects to final feasibility and ultimately to production.
Key Points:
- Focusing on precious metal and polymetallic properties that show potential for large-scale mineral resources equivalent to 1 million to 10 million ounces of gold
- Outlining an extensive mineralization system and expanding the NI 43-101 compliant resource at the San Agustin Project in Durango, Mexico
- Currently maintain a balanced inventory of early- and advanced-stage projects in Mexico, Peru and Nevada
- Participating in a joint venture with Newmont Mining Corporation to explore a 14,000 square kilometre area of interest in central Peru
Chief Properties
San Agustin – Mexico
The company has conducted a series of aggressive exploration programs at San Agustin since optioning a 100% interest in this 576-hectare property in 2006.
Work has resulted in an updated resource estimate announced on June 2, 2008. The results of the estimate are shown in Table 1 and 2. The estimate is based on the results of Geologix’s Phase I and Phase II drill programs using project drill holes SA-1 to SA -166 along with historic data, but does not include any results from the more than fifty drill holes completed in the Phase III drilling program.
Work to date includes 30,600 metres of drilling to a maximum depth of 250 metres. Many drill holes ended in mineralization with higher-grade gold, silver and base metal intersections encountered at depth. This work has confirmed the style of deposit and its potential to host a deposit of 200 million tonnes or larger, as the deposit is open in all directions.
San Agustin exhibits sufficient grade and tonnage to warrant US$7.5 million in exploration work in 2008. The project budget includes delineation and exploration drilling, resource calculations and a pre-feasibility study, among other development activities.
Peru
The company entered into a joint venture with Newmont Peru S.R.L., a subsidiary of Newmont Mining Corporation, in 2006. This strategic alliance is targeting a highly prospective geological environment in the Huancavelica Department of central Peru.
In 2007, the company completed an initial assessment of a 14,000-square-kilometre area of interest using proprietary Newmont exploration techniques and conventional surface sampling. Field crews collected more than 14,800 samples, which resulted in the identification of 150 basin targets. These anomalies we then grouped into 26 priority areas and four ground acquisitions covering 32,500 hectares were staked.
The 6,800-hectare Liscay property is the most advanced of these projects. Detailed geologic sampling and mapping at Liscay has outlined a vein system extending over 20 square kilometres. Of 148 samples collected, 13% contain greater than 0.3 g/t gold and 9% greater than 0.5 g/t gold. Silver is equally anomalous, with 15% of the samples containing greater than 10 g/t silver and 7% containing greater than 30 g/t silver. These results are exceptional for first-pass sampling and attest to the strength of the mineralization system at Liscay.
The goal is to identify and delineate drill targets by utilizing IP geophysical surveys. The company plans to test targets during the second and third quarters of 2008 and to acquire several new properties in 2008.
Management
- Robert D. Willis, B.Sc., P.Eng. – Chairman and Director
Robert has more than 30 years experience in the mineral resources industry. He was the founder, president and CEO of Manhattan Minerals Corp. from 1990 to 1998 and a director for that firm from 1990 to 2001. Under his direction, Manhattan explored many gold and silver projects in Mexico. Most notably, it explored and later placed into production the Moris gold and silver mine, a 2,200-ton-per-day open-pit heap-leach operation.
Prior to Robert’s involvement with Manhattan, he was founder, president and CEO of Pioneer Metals Corp. He was responsible for the acquisition and startup of the Stibnite gold and silver mine in Idaho, an open-pit heap-leach operation. Also under his direction, Pioneer joint ventured the Premier gold project in B.C. with Westmin Resources, which subsequently put the project into production. In the 1970s, Robert held engineering and production positions with Rio Algom and Teck Corp. at the Lornex, Afton and Highmont open-pit copper mines.
- Dunham L. Craig, P.Geo – CEO, President and DirectorDunham Craig graduated from the University of British Columbia with a Degree in Geology in 1988. From 1970 to 1983, he worked in the heavy construction industry and also operated his own construction company for seven years. Upon graduation from university, he served as a project geologist for Cominco Exploration Ltd. and later consulted for Cominco and Kennecott Canada Inc.
Subsequently in 1993, as the vice president of exploration and corporate development for Wheaton River Minerals, Dunham was responsible for the discovery of three mineral deposits at Wheaton River’s highly profitable Golden Bear mine and for participating in the project through bankable feasibility and bank financing. He later directed the acquisition of the Bellavista Gold Project in Costa Rica and oversaw its design through bankable feasibility. From 2002 to 2005, he was a member of the initial management team of Glencairn Gold Inc. that acquired and developed two operating mines in Central America. Dunham joined Geologix in 2005 as its President and was later appointed CEO and President by the Board in 2006.
- Randy V.J. Smallwood, P. Eng – DirectorRandy has worked as a geological engineer in the mining industry for more than 20 years. He has a wealth of experience in mineral exploration, mine development and mine operations, having worked with companies such as TeckCominco, Homestake and Westmin Resources from 1986 to 1994. He joined Wheaton River Minerals in 1994 and played a major role in the operational success of the Golden Bear mine, which transformed Wheaton River into a successful junior gold mining company. Later, as the director of corporate development for Wheaton River, he was responsible for the technical reviews of all mineral project evaluations for the Wheaton River, Goldcorp and Silver Wheaton group of companies. Randy is the executive vice president of corporate development for Silver Wheaton.
- Graham C. Thody, CA – DirectorGraham was a partner of Nemeth Thody Anderson, Chartered Accountants of Vancouver, B.C., from 1979 until his retirement in 2007. His practice focused on the audits of reporting companies, participation in the initial public offering process, corporate mergers and acquisitions and domestic and international tax matters. Today, he is a director and chairman of the audit committees of several reporting corporations involved in mining exploration and development throughout the Americas. He is also a Director and the non-executive Chairman of UEX Corporation. Graham is a member of the British Columbia Institute of Chartered Accountants and of the Canadian Institute of Chartered Accountants. He holds a bachelor of commerce degree in marketing from the University of British Columbia.
- Eduardo Luna, MBA – DirectorEduardo is the chairman of Silver Wheaton, the chairman of the advisory board to the Faculty of Mines at Mexico’s University of Guanajuato and a member of the boards of several corporations. He has extensive operating and consulting experience in Mexico. Eduardo was the president of Minas de San Luis SA de CV (Luismin), a wholly owned subsidiary of Goldcorp and an executive vice president first of Wheaton River and then of Goldcorp. He also held various executive positions with Minera Autlan for seven years and with Industrias Peñoles for five years. In addition, he was the chairman of the Mexican Mining Chamber on two occasions and served as the president of Mexico’s Silver Institute.
Eduardo holds a degree in advanced management from Harvard University. He also has an MBA from the Instituto Tecnologico de Estudios Superiores de Monterrey and a Bachelor of Science degree in mining engineering from the University of Guanajuato.
- Eduardo Luna, MBA – DirectorEduardo is the chairman of Silver Wheaton, the chairman of the advisory board to the Faculty of Mines at Mexico’s University of Guanajuato and a member of the boards of several corporations. He has extensive operating and consulting experience in Mexico. Eduardo was the president of Minas de San Luis SA de CV (Luismin), a wholly owned subsidiary of Goldcorp and an executive vice president first of Wheaton River and then of Goldcorp. He also held various executive positions with Minera Autlan for seven years and with Industrias Peñoles for five years. In addition, he was the chairman of the Mexican Mining Chamber on two occasions and served as the president of Mexico’s Silver Institute.
Eduardo holds a degree in advanced management from Harvard University. He also has an MBA from the Instituto Tecnologico de Estudios Superiores de Monterrey and a Bachelor of Science degree in mining engineering from the University of Guanajuato.
- Siegfried (Sig) Weidner, B.Sc. – V.P. ExplorationMr. Weidner spent 18 years of continuous service with Rio Algom Ltd./Billiton/BHP Billiton. His exploration experience includes Advanced Project Management, Project Management from Greenfields Exploration to Pre-feasibility stage and Manager of Operations for North America/Europe. Mr. Weidner was a valuable member and leader of effective exploration teams and has been awarded the Prospector of the Year (New Brunswick PDAC branch) award in 1993 and the international Bill Dennis (PDAC) Prospector of the Year award in 1998 for the discovery of the Spence Porphyry Copper deposit in Chile.
- Eduardo Luna, MBA – DirectorEduardo is the chairman of Silver Wheaton, the chairman of the advisory board to the Faculty of Mines at Mexico’s University of Guanajuato and a member of the boards of several corporations. He has extensive operating and consulting experience in Mexico. Eduardo was the president of Minas de San Luis SA de CV (Luismin), a wholly owned subsidiary of Goldcorp and an executive vice president first of Wheaton River and then of Goldcorp. He also held various executive positions with Minera Autlan for seven years and with Industrias Peñoles for five years. In addition, he was the chairman of the Mexican Mining Chamber on two occasions and served as the president of Mexico’s Silver Institute.
Eduardo holds a degree in advanced management from Harvard University. He also has an MBA from the Instituto Tecnologico de Estudios Superiores de Monterrey and a Bachelor of Science degree in mining engineering from the University of Guanajuato.
- Jeffrey R. Wilson – V.P. Corporate CommunicationsMr. Wilson has 15 years of experience in the mineral exploration and mining investment industries, and a wealth of contacts throughout the investment community, including retail brokers, mining analysts, private investors, fund managers, and institutions. From 2003 to 2008 Mr. Wilson acted as an independent investor relations consultant to several mineral exploration companies, including Silver Quest Resources Ltd., Triex Minerals Corporation, and Endurance Gold Corporation.
Prior to 2003, Mr. Wilson acted as an investor relations manager and served on the board of directors of two publicly listed companies during the 1990s, including Aquiline Resources Ltd. and Welcome Opportunities Ltd. (now Endeavour Mining Capital Corporation).
- Evelyn Abbott, B.Sc., CMA – Chief Financial OfficerMs. Abbott graduated in 1987 with Bachelor of Science from Mount Allison University and received her Certified Management Accounting (CMA) designation in 1997.
Ms. Abbott has more than 15 years of finance and accounting experience with senior financial roles in the biotech, manufacturing and logistics industries. She started her career in public accounting and progressed to an eight year tenure with The Tibbett & Britten Group, a multinational public logistics company. During her time with Tibbett & Britten, Ms. Abbott was the Controller of Summit Logistics Inc. for three years and was then promoted to Director of Finance for Tibbett & Britten North America, with financial responsibility for eight subsidiaries and over $350 million in annual revenue. Ms. Abbott has also worked as a Chief Financial Officer in the manufacturing sector and was most recently Director of Finance for B.C. Research Inc. and Vizon Scitec Inc.
- Andrew B. Carstensen, M.Sc. (CPG) – Chief GeologistMr. Carstensen graduated from the University of Montana in 1980 with a Bachelor of Arts degree majoring in geology and minoring in geography. In 1983, he graduated from the University of Montana with a Master of Science degree.
From 1978 to 1984, Mr. Carstensen worked with Noranda Exploration Inc. in Missoula, Montana in several positions from Assistant Geologist to Reconnaissance Geologist. From 1985 to 1990 he worked as an Exploration Geologist throughout the western United States with several companies including Inspiration Mines, Inc., Inspiration Gold Inc., Western Gold Exploration and Mining Company, Limited Partnership, and Newmont Exploration Ltd.
During 1991 and 1992, Mr. Carstensen worked as a Geologic Consultant for two companies, being Manhattan Minerals Corporation of Vancouver, British Columbia and Cameco Corporation of Saskatoon, Saskatchewan.
From 1993 to 1998, Mr. Carstensen was Manager of Exploration for Manhattan Minerals Corporation, and then became Vice President-Exploration for Manhattan until October 2001. Since that time, Mr. Carstensen has worked as a Geologic Consultant to several mining companies.
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Geologix Releases Updated Resource
San Agustin Phase III Drilling Continues to Expand Mineralization Beyond Resource Estimate
CEO Clip on BNN
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