GIX: Up-and-Coming Mexican Porphyry Play

DREW CLARK, Byron Capital Markets (09/07/2010)
"Tepal—Fully Funded Resource Expansion Underway: This year, GIX is undertaking two phases of drilling, each 5,000m in length, aimed at expanding the current resource at the Tepal Project in Southern Mexico. . .recent drilling identified targets similar to the pits defined to date, presenting terrific potential resource expansion to investors through this year's programs alone.

PEA Underway: GIX is currently conducting a PEA envisioning an open-pit, low-cost operation utilizing conventional processing methods. Tepal [has] favorable access to highway and power infrastructure, significantly minimizing project construction costs and considerably improving preliminary economics.

Untested Libertad a Real Kicker to the Story: Libertad is a gold-silver vein system that has had minimal drilling to date (two holes released to date, which interested 2.03 and 1.O1 g/t Au¬Eq over 26m and 51m, respectively). . .We believe the market has attributed little value to Libertad and has not taken into account the potential for a second, economical deposit."

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