Geoinformatics' Alliance Partner Finds Diamonds in the Northwest Territories
13 December 2007 - 1:21AM
Marketwired
TORONTO, ONTARIO ("Geoinformatics" or the "Company") is pleased
to announce that its alliance partner, Sanatana Diamonds Inc. (TSX
VENTURE: STA)(AIM: SAN) ("Sanatana"), has received the first batch
of caustic fusion diamond results from the newly discovered Dharma
kimberlite pipe on its Mackenzie Craton Project in the Northwest
Territories. The results confirm the existence of diamonds in the
pipe with a total of 180 diamonds greater than 0.106 mm being
recovered, which equates to 531 stones recovered per tonne.
Geoinformatics holds a 1% gross overriding royalty (the "GOR")
on all diamonds mined by Sanatana within the Mackenzie Craton.
In 2004, Geoinformatics and Sanatana executed a strategic
alliance agreement whereby Geoinformatics completed exploration
targeting on Sanatana's extensive claims in the Mackenzie Craton
using its proprietary Geoinformatics Process. Under the terms of
the agreement, Geoinformatics was paid approximately $450,000 and
was granted the 1% GOR. In addition to the targeting exercise,
Geoinformatics managed and operated Sanatana's exploration programs
during the 2004 and 2005 exploration seasons. Dr. Nick Archibald
joined Sanatana's Board of Directors earlier in 2007.
About Geoinformatics
Geoinformatics is a global exploration company which has
developed a unique and innovative approach to minerals
exploration.
Geoinformatics is actively exploring its gold-copper porphyry
Whistler Project in Alaska, the Stockton Project in Utah which has
a large identified copper-gold porphyry 15 km. from the Bingham
Canyon Mine and several other advanced projects in British
Columbia, the Battle Mountain Trend region of Nevada, and the State
of Sinaloa, Mexico. Fourteen Company-owned properties in the State
of Sonora, Mexico, fall under a joint venture in which Azure
Minerals Limited is earning a 51% interest by spending US$4
million. Geoinformatics also has an extensive portfolio of other
direct and indirect property interests, joint ventures, and
royalties covering a wide range of minerals in Mexico, Australia
and New Zealand and North America.
The Geoinformatics Process integrates large-scale data
aggregation, data mining and three-dimensional modeling, and 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 is to advance its
properties to the stage of commercial development by applying
faster, less expensive and more reliable analytical methods to
resource exploration.
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 our 2006 Annual Information Form and other 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. 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.
Contacts: Geoinformatics Exploration Inc. Dr. Nick Archibald
Executive Vice-Chairman and CEO (416) 861-1300 x224 Email:
nicka@geoinformex.com Geoinformatics Exploration Inc. Ms. Petra
Decher President and Chief Financial Officer (416) 861-1300 x225
Email: petrad@geoinformex.com Geoinformatics Exploration Inc. 330
Bay Street, Suite 1109 Toronto, Ontario M5H 2S8 Website:
www.geoinformex.com
Galileo Exploration (TSXV:GXL)
Historical Stock Chart
From Nov 2024 to Dec 2024
Galileo Exploration (TSXV:GXL)
Historical Stock Chart
From Dec 2023 to Dec 2024