SHAREHOLDER
COMMUNICATIONS
February 13, 2008
Dear Geoinformatics
Shareholders and Interested Parties:
Geoinformatics
announces a 43-101 compliant
resource
statement for the Azulitas Prospect in Mexico
Our last
Shareholder Communication two weeks ago introduced a molybdenum-copper-silver-gold
discovery at the Los Laureles Prospect on the La Noria Project in Mexico.
This came on the back of our announcements detailing the new Falcon molybdenum
discovery in British Columbia, and our
multi-million ounce gold resource at Whistler, Alaska. Today, we are pleased to
announce the first NI 43-101 compliant resource estimate on the La Noria
Project (the same project that contains the Los Laureles prospect) – but
on a different prospect – namely the Azulitas Prospect. You can find the
full release available for download here: http://www.geoinformex.com/news/PR_Azulitas_Resources_February%2013%202008%20Final.pdf
The details on the resource estimate
are set out below and in the press release. On the surface of it, the
announcement of a 5.6 million tonne resource may be considered modest, but we
are excited as the resource statement is a significant step forward on this
property.
Azulitas is just one small piece of
our larger La Noria Project (see
map below) in the prospective Sierra Madre in the State of Sinaloa, Mexico,
approximately 60 km. northeast of the port of Mazatlan.
La Noria hosts several similar mineralized copper-molybdenum-gold-silver
systems:
Los
Laureles:
Two
weeks ago, we announced a drill hole of a five-hole program that was
essentially mineralized its entire length with 107 metres grading 0.12% molybdenum (0.20% MoS2), 0.14%
copper, 0.08 g/t gold and 11.9 g/t silver and ending in
mineralization. The first two holes were drilled on the periphery of the
deposit but yielded short high-grade intersections. The final two holes
are in the assay lab but we can confirm that we encountered visible
chalcopyrite (CuFeS2) and molybdenite (MoS2).
It is early days, but the results suggest that Los Laureles has significant
potential.
La
Verde:
La Verde is
approximately 1.2 km. southeast of Azulitas.
Three of the four initial drill holes intersected widespread copper-gold-silver
with the results from one hole including 76
metres of 0.32% copper, 0.04 g/t gold and 7.22 g/t silver among 122
metres (total) of similarly mineralized intersections.
Amarillito:
The
Amarillito Prospect is only 300 metres north-northeast of Azulitas. The
only hole drilled thus far encountered 56
metres of 0.27% copper, 0.03 g/t
gold and 9.65 g/t silver which ended in mineralization.
Mozulitas:
The
Mozulitas Prospect is only 220 metres north-northwest of Azulitas. The only
hole drilled thus far encountered 47.4 metres
of 0.12% molybdenum (0.20% MoS2).
Each of
these targets and Azulitas itself was identified by significant surface soil
and stream sediment geochemistry anomalies. Many other such anomalies
exist on the property. We feel we have only scratched the surface on this
large property holding.
Figure 2. La
Noria Project Prospect Locations
Our objective on this property is to
qualify enough of the currently identified mineralized systems into reserves to
feed an integrated concentrate-based mining operation. The La
Noria region is already serviced by a road/track system with power lines.
We are within 35 km of a railway and 60 km. of a major port.
Sinaloa is a state of Mexico
that is considered to have an emergent mining scene. After many years of
low activity, the past few years have seen a resurgence. To our knowledge,
there are two small concentrate-based mining operations actually under
construction in Sinaloa. Aurcana Corporation is proposing to develop an
underground operation at the Rosario Mine with a reserve of 315,000 tonnes
grading 1.0 g/t gold, 2.38% lead, 93.0 g/t silver and 3.49% zinc. Scorpio
Mining Corporation is also developing an underground operation at the Nuestra
Senora Mine with a reserve of 1.9 million tonnes grading 0.42% copper, 1.42%
lead, 127 g/t silver and 2.97% zinc (source www.intierra.com).
By
comparison, the Azulitas resource statement issued today contains:
Ø An
Inferred Resource totalling 5.63 million tonnes (Mt) of mineralization grading
0.54% copper, 12.2 grams per tonne (g/t) silver, 0.08 g/t gold and 0.04%
molybdenum (0.06% MoS2) that extends from
surface to a depth of 220 metres.
Ø The
Resource Estimate contains 67.4 million pounds (Mlbs) of copper, 2.2 million ounces
(Moz) of silver, 4.34 Mlbs of molybdenum and 15,200 ounces of gold.
Ø
The average overall grade
of the Inferred Resource is 0.90% on a copper-equivalent basis.
Ø
A higher-grade molybdenum
core contains 1.89 million tonnes grading 0.09% molybdenum (0.15% MoS2).
Azulitas extends
from surface continuously to approximately 220 metres, remains open at depth
and is steeply dipping, making it potentially amenable to open-pit mining. It
is important to note that Mineral Resources, which are not Mineral Reserves, do
not have demonstrated economic viability. Under NI 43-101 and CIM guidelines,
we can begin economic analysis once the Inferred Resource is upgraded to
Indicated or Measured Resource.
Table 1. Inferred
Mineral Resource for the Azulitas Copper-Silver-Gold-Molybdenum Deposit
Quantity and Grades
|
Total Contained Metal
|
Tonnes
(000s)
|
Copper Eq. (2)
(%)
|
Copper
(%)
|
Gold
(g/t)
|
Silver
(g/t)
|
Molybdenum
(%)
|
MoS2 (3)
(%)
|
Copper Eq. (2)
(Mlbs)
|
Copper
(Mlbs)
|
Molybdenum
(Mlbs)
|
Gold
(oz)
|
Silver
(Moz)
|
5,630(1)
|
0.90
|
0.54
|
0.08
|
12.2
|
0.04
|
0.06
|
111.3
|
67.4
|
4.34
|
15,206
|
2.21
|
1. The Inferred Resource
is presented for a 0.30% copper-equivalent cut-off and includes all blocks from
surface to a depth of approximately 220metres.
2. Copper-equivalent is
calculated based on 75% recovery for gold and silver; 85% recovery for copper
and molybdenum; $550 per ounce gold, $8 per ounce silver, $1.50 per pound of
copper and $10 per pound of molybdenum (oxide).
3. Molybdenum sulphide
(MoS2) is not an estimated field in the block model but is
calculated by multiplying Mo% by 1.6681.
We still
have a drill-rig active on La Noria drilling at Amarillito and are awaiting
assay results from the final holes at Los Laureles. We therefore look
forward to keeping you up to date on the results from this exciting project.
Should you require any further
information, please do not hesitate to contact any one of our management team.
Kind regards,
Management Team
Geoinformatics Exploration Inc.
www.geoinformex.com
This letter and the
accompanying news release includes certain forward-looking statements
concerning the future performance of Geoinformatics’ business and
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 commodity prices, competitive risks and the availability of
financing, as described in more detail in Geoinformatics’ 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. We assume no obligation to
revise or update these forward-looking statements.
The TSX Venture
Exchange does not accept responsibility for the adequacy or accuracy of this
release.