NEWS RELEASE
TSX-V: GXL November 4, 2008
Geoinformatics Announces New Discovery At Its Whistler Project in Alaska
Toronto, Ontario ? Geoinformatics Exploration Inc. (TSX-V: GXL) (?Geoinformatics?, ?GXL? or the ?Company?) is pleased to announce that it has intersected widespread mineralization in the first hole drilled on a regional prospect called Raintree West, located approximately 1.5 km east of the Whistler Zone which hosts a NI 43-101 compliant mineral resource estimate.
Highlights
? First hole ever drilled at Raintree West intersected:
- 160 metres grading 0.59 g/t gold, 6.02 g/t silver, 0.10% copper, 0.20% lead, 0.46% zinc (or 1.26 g/t gold equivalent) including:
- 24 metres grading 1.37 g/t gold, 6.32 g/t silver, 0.13% copper, 0.36% lead, 0.80% zinc (or 2.42 g/t gold equivalent).
Raintree West is one of several regional concealed targets drilled by Geoinformatics during the 2008 summer field season. Assays are pending on three remaining regional prospects and two holes from the Whistler Zone itself.
?We are extremely pleased with the discovery of a new mineralized system on the Whistler Project as it confirms the exploration potential and validates the Company?s innovative exploration techniques,? said Mr. Darren Holden, Chief Operating Officer of Geoinformatics. ?We have long suspected that the mineralization defined at the Whistler Zone is one of many related porphyry systems on the project. This discovery of widespread porphyry hosted gold mineralization at Raintree, with comparable grades to those of Whistler?s Main Zone, confirms this theory and bodes well for other similar discoveries to further enhance the value of the overall Whistler Project.?
Raintree West Prospect
The Raintree West prospect lies in a cluster of prospects identified by the Company using proprietary targeting techniques. Raintree West exhibits a comparable magnetic signature to that of the Whistler Zone with a coincident induced polarization (IP) anomaly that extends over 800 metres in length. Raintree West is a blind target, concealed by a thin veneer (5 metres) of gravels in relatively flat ground.
Drill hole RN-08-06 was angled west to east and intersected diorite porphyry rocks immediately below gravel overburden. The first 22 metres of the diorite porphyry contained low-grade mineralization, below which visible alteration and veining increased and was accompanied by visible copper, lead and zinc sulphides over the next 190 metres. The hole remained in diorite porphyry to the total depth of the hole at 300 metres.
Comment on Metal Ratios and Base Metal Content
Statistical analysis of the assay results shows that the gold in RN-08-06 is directly associated with copper mineralization, as is the case at Whistler. However, Raintree West?s assays exhibit a higher gold to copper ratio of approximately 5:1 overall. Whistler?s Main Zone shows gold to copper ratio of 4:1 compared with 3:1 for the overall Whistler Zone. This, in tandem with the fact that Raintree West also contains lead and zinc mineralization, suggests that this intercept may represent the periphery of a gold-copper porphyry system.
Table 1. Drill hole intercept calculations.
Hole | From (metres) | To (metres) | Width (metres) | Gold (g/t) | Copper (%) | Silver (g/t) | Lead (%) | Zinc (%) | Gold Equivalent (g/t)1 |
RN-08-06 | 27 | 217 | 190 | 0.51 | 0.09 | 5.47 | 0.18 | 0.41 | 1.11 |
Including (*) | 27 | 187 | 160 | 0.59 | 0.10 | 6.02 | 0.20 | 0.46 | 1.26 |
Including (**) | 106 | 130 | 24 | 1.37 | 0.13 | 6.32 | 0.36 | 0.80 | 2.42 |
Including (**) | 158 | 184 | 26 | 0.67 | 0.09 | 13.55 | 0.32 | 0.68 | 1.66 |
Intercepts calculated using a 0.3 g/t ?gold-equivalent cut-off? on a minimum 10 metre width and maximum 20 metre internal dilution unless otherwise noted. Gold-equivalent cut-off is based on the assumptions of 75% recovery of gold and silver and 85% recovery of copper, lead and zinc and metal prices of US$550 per oz. gold, US$8 per oz. silver, US$1.50 per lb. copper (as used in the Whistler Resource Estimation and filed on www.sedar.com) and $0.60 per lb. lead and $0.45 per lb zinc representing approximately 90% of London Metal Exchange prices on 30th October, 2008. Gold Equivalent Grade (as opposed to gold-equivalent cut-off) is presented on the basis of contained metal values assuming the above metal prices without metallurgical recoveries taken into account and is done in order to make a direct comparison to the gold value represented in the gold assay grades.
(* ) Calculated using a 0.7 g/t gold-equivalent cut-off.
(**) Calculated using a 1.5 g/t gold equivalent cut-off.
All assays taken on average 2 metre samples of half sawn core and assayed at Alaska Assay Laboratory located in Fairbanks, Alaska using Fire Assay for gold and ICP for silver and base-metals. Standards and blanks were inserted into the sample stream to monitor laboratory performance.
Qualified Person
The technical content of this release was compiled by Darren Holden (MAusIMM) ? Chief Operating Officer of Geoinformatics. Mr. Holden is a Qualified Person as defined under NI 43-101 guidelines.
About Whistler Project
The Whistler Project is located approximately 160 km. northwest of Anchorage, Alaska. Whistler is one of the largest groups of contiguous mineral claim blocks held by a single company in Alaska, outside of existing mines and mine development projects.
The Whistler Zone hosts a NI 43-101 compliant Indicated resource of 30 million tonnes grading 0.87 g/t gold, 2.46 g/t silver and 0.24% copper and an Inferred resource of 134 million tonnes grading 0.64 g/t gold, 2.18 g/t silver and 0.20% copper. In addition, there is considerable mineralization in the Whistler Zone that has been identified by drilling and reported in the 43-101 resource technical report filed on SEDAR (www.sedar.com), but has not yet been categorized as a mineral resource.
The Whistler Zone is just one of a cluster of targets and prospects within the 440 sq. km. block of 732 State of Alaska mining claims that make up the Whistler Project. Most of these targets are covered by shallow alluvial sediments and do not have the significant outcrop of the Whistler Zone, but do have comparable geophysical, geological and/or geochemical signatures.
For Further Information Please Contact:
Ms. Petra Decher Mr. Darren Holden
President & CFO Chief Operating Officer
Tel: 416-861-1300 x225 Tel: 604-605-3073 x105
Email: petrad@geoinformex.com Email: darrenh@geoinformex.com
Geoinformatics Exploration Inc. Geoinformatics Exploration Inc.
80 Richmond St West, Suite 303 700 West Pender Street, Suite 304
Toronto, Ontario M5H 2A4 Vancouver, British Columbia V6C 1G8
www.geoinformex.com
This news release includes certain forward-looking statements concerning the future performance of Geoinformatics? business, operations and 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 the reader is cautioned 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.