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Gemini Explorations, Inc.
Written by XrunwthBulls   
Sunday, 23 September 2007
Gemini Explorations, Inc. Reports on Sampling Results From the Los Chorros Gold Mine Project Vein Structure Gold Values Up to 190 Grams Per Tonne

 

MIAMI, FL--Sep 19, 2007 -- Gemini Explorations, Inc.
 ("Gemini") (OTC BB:GXPI.OB - News) is pleased to report further sampling
 results from the Los Chorros Gold Mine, a producing gold property in the
 El Bagre-Zargoza mining district, department of Antioquia, Colombia.
MIAMI, FL--(MARKET WIRE)--Sep 19, 2007 -- Gemini Explorations, Inc.
 ("Gemini") (OTC BB:GXPI.OB - News) is pleased to report further sampling
 results from the Los Chorros Gold Mine, a producing gold property in the
 El Bagre-Zargoza mining district, department of Antioquia, Colombia.
The sampling program focused on extending the known mineralized zone of
 the Los Chorros Gold Mine. The vetiforme mineralization is represented
 by a vein with a thickness of 1.00mt/average that fits in
 sericitization schist quartz and graphite with general direction that varies from
 N30°-45°W/40°-48°SW constituted by quartz with sulfides, mainly pyrite,
 chalcopyrite, abundant galena, estibina and bornita in a percentage
 that varies between 60% and 80% locally.
The set of vein samples ranged from 6.4 g/tonne Au to 190.6g/tonne Au.
Minera Primecap Geological Services (MPGS) directed and oversaw the
 sampling program. The samples were assayed at the labs of INSPECTORATE
 AMERICA CORPORATION (Inspectorate), Nevada, USA.
The Los Chorros Mine is currently being mined with extremely antiquated
 equipment and this report further solidifies Gemini's belief that the
 project could be turned into a highly efficient producing gold project
 with low capital costs. Current mining operations at Los Chorros
 recover a low percentage of the available gold and precious metals present on
 the property. Gemini's plans are to build a modern processing facility
 at Los Chorros with far greater recovery rates of the gold and other
 precious metals present. Gemini is working closely with RMS-Ross
 Corporation, a designer, manufacturer and distributor of an extensive range of
 quality mining machinery to design a modern, highly efficient
 processing and gold recovery system for Los Chorros. The plant would initially
 run at 30 to 50 tonnes/day with production doubling every 90 days
 during the first year. MPGS geologist Juan Restrepo reported that 50 tonnes
 per day production yielding an average grade of 12 grams per tonne Au
 (gold) would produce US $3,125,000 per year and a 100 tonne per day
 production rate would produce over US $6,250,000 of net cash flow after all
 costs. MPGS estimate that production in the second year could increase
 to a 300 tonnes per day yielding US $18,750,000 net cash flow to the
 company. These estimates are based on US $650 per ounce gold with US
 $200 per ounce operating and production costs netting US $450 per ounce.
 Gemini has purchased an 80 percent controlling interest in the mine and
 has secured first rights of refusal on the remaining 20 percent
 interest.
The principal exposed vein in the Los Chorros working tunnels measures
 up to 2 meters thick and dips down at 45 degrees. Visible sulphides and
 massive sulphides are exposed and run from 2% up to 70%. Visible gold
 is present and samples assayed along a 30 meter section of the
 principal vein exposed between 2 faults returned values between 15 grams/tonne
 Au and 250 grams/tonne Au. The Los Chorros Mine presents an excellent
 opportunity for Gemini to take advantage of the near record high gold
 bullion prices and provides an internal source of cash flow to fund its
 ongoing development and exploitation of its wholly owned La Planada Gold
 Project, a potential multi million ounce gold deposit in southern
 Colombia.
Historically one of the largest gold producing countries in the world,
 Colombia's vast mineral potential has remained virtually unexplored
 using modern exploration and mining techniques.The Department
 (Province/State) of Antioquia alone produces over 1,000,000 ounces of gold per year
 currently, and most of it is produced from antiquated production
 equipment and facilities. Driven by a new era of political and economic
 stability and an investment-friendly mining code, Colombia has emerged as
 one of the resource sector's most attractive new mining frontiers.
Notice Regarding Forward Looking Statements
This news release contains "forward-looking statements," as that term
 is defined in Section 27A of the United States Securities Act of 1933
 and Section 21E of the Securities Exchange Act of 1934. Statements in
 this press release which are not purely historical are forward-looking
 statements and include any statements regarding beliefs, plans,
 expectations or intentions regarding the future. Such forward-looking statements
 include, among other things, the expectation of the gold production of
 the property to be acquired, the expected completion date of the
 redevelopment and modernization of the Los Chorros Gold mine, the low capital
 costs to upgrade the Los Chorros operating plant, the assumed
 production and net cash flow and the multi million ounce potential of the La
 Planada Gold project. Actual results could differ from those projected in
 any forward-looking statements due to numerous factors. Such factors
 include, among others, the inherent uncertainties associated with
 mineral exploration. These forward-looking statements are made as of the date
 of this news release, and we assume no obligation to update the
 forward-looking statements, or to update the reasons why actual results could
 differ from those projected in the forward-looking statements.
 Although we believe that the beliefs, plans, expectations and intentions
 contained in this press release are reasonable, there can be no assurance
 that such beliefs, plans, expectations or intentions will prove to be
 accurate. Investors should consult all of the information set forth herein
 and should also refer to the risk factors disclosure outlined in our
 annual report on Form 10-KSB for the 2005 fiscal year, our quarterly
 reports on Form 10-QSB and other periodic reports filed from time-to-time
 with the Securities and Exchange Commission.
Contact:
     Michael Hill
     President
     Gemini Explorations, Inc.
     8th Floor, 5201 Blue Lagoon Drive
     Miami, Florida 33126
      
     http://www.geminiexploration.com
     email: 
 This e-mail address is being protected from spam bots, you need JavaScript enabled to view it
 
      
     IR info: 1 877 700 1644
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