Tuesday, November 6, 2007

Geocom Resources Inc. elevates the Espolon Gold Mine Claim in the Futaleufu River Valley to "Formal Venture Status"

Geocom Announces Formal Venture Status For Three Projects In Southern Chile


BELLINGHAM, WA – September 10, 2007 - Geocom Resources Inc. (OTCBB: GOCM) is pleased to announce that it has elevated three projects in Southern Chile to formal venture status with its joint venture partner Kinross Gold Corporation. The projects are Espolon, Cerro Mera, and Cerro Vaca.

The work programs will be governed by approved budgets to be proposed by Geocom and mutually agreed by both companies.

The Espolon Claim Block comprises 13 claims totaling 3,800 hectares (9,390 acres or about 14 square miles). The claims cover a gold-silver-copper mineralized zone that has now been traced over a strike length in excess of 3 kilometers (2 miles). The mineralized zone is 10 to 30 meters thick (32 to 96 feet). The zone consists of a gently-dipping altered sequence of volcanic tuffs, limestones, and argillites. These rocks have been thermally metamorphosed and moderately to completely silicified. Within the mineralized zone there is a massive sulfide layer that varies in thickness up to 3 meters (about 10 feet) consisting of pyrrhotite-pyrite with varying amounts of chalcopyrite.


In the opinion of Geocom’s geologists and management, the geological environment at Cerro Mera is similar to the nearby Esquel deposit in Argentina, which contains over 3 million oz of gold in a series of north-easterly-trending quartz veins.


Geocom and Kinross are jointly exploring and acquiring gold and multi element targets in Region Ten of southern Chile. Properties acquired by the venture are managed via individual joint ventures on a 50-50 basis. Kinross has the right to acquire a majority interest by making additional expenditures on individual properties and by exercising warrants granted to Kinross by Geocom.

Here is the full article.