Geodex Reports Discovery of a New, High-Grade Tungsten Skarn Discovery in
the Northern Part of the Sisson Brook Claim Block, New Brunswick.
July 19, 2007 - Geodex Minerals Ltd., (TSX-V: GXM) (the 'Company') is pleased to report discovery of a high-grade scheelite skarn on the company's Sisson Brook claims which it now refers to as the 'Goodwin Zone', after the prospector who found the original boulders. It lies about 5 km north of the Sisson Brook tungsten-molybdenum-copper deposit on which three drills are presently active.
The discovery has been trenched and its exposure is still limited but it appears to consist of coarse scheelite in a green diopside-garnet skarn. One set of channel samples across the skarn zone averaged 0.99% WO3 over 2.0 m and a parallel channel sample assayed 1.37% WO3 over 1.0 m. Work is continuing to establish its orientation and dip before testing commences with a six-hole drill program in August.
On the Sisson Brook project itself, the three drills are extending and connecting the resource which was announced this spring. By mid July, a total of 9,656 m had been drilled from an estimated 20,000 m program. One drill is moving systematically south on Zone III, drilling infill fences of holes between the 100 m spaced fences which were drilled last year, to upgrade the 'Inferred' resource to the 'Measured and Indicated' category. Some holes are also devoted to extending higher-grade sections and adding near-surface pockets of higher-grade material to the block model. Assays are already being returned and forwarded to Mercator Geological Services Limited for updating of this block model.
The overall intent in 2007 is to increase grades significantly within the same tonnage framework. Three deep holes are planned at the end of the program to assess extensions of the mineralization to about the 400 m depth level.
The other two drills are extending Zone III to the north and connecting it into Zones I and II which were previously drilled by Kidd Creek/Texasgulf and are known to be important copper and tungsten resources. The extension of Zone III to the north and the 'gap' area are rapidly being tested by fences of holes on a 50 m line spacing. The second drill is testing updip and downdip extensions of Zones I and II and assessing the intervals between them. Zone III presently appears to be continuing up the west side of Zones I and II and the latter appear to be finger-like extensions of the eastern fringe of Zone III. Assays will be reported when they are received.
The company is also conducting exploration on its many prospects around the former Mount Pleasant mine in southwestern New Brunswick. These and several outlying prospects (see the News Release of June 6, 2007) are being readied for drilling which will begin in early August when the first drill moves down from Sisson Brook. A trench has been opened on the Pughole-Whopper discovery (see News Releases of April 9 and May 24, 2007) to provide some orientation data in advance of a drilling program to begin this summer.
Jack Marr, M.Sc., P.Geo., is the in-house QP for this project.
Forward Looking Statement
Certain information regarding the Company contained in this press release may constitute forward-looking statements within the meaning of applicable securities laws. Forward-looking statements may include estimates, plans, opinions, forecasts, projections or other statements that are not statements of fact. Although the Company believes that expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. The Company cautions that actual performance will be affected by a number of factors, many of which are beyond the Company's control, and that future events and results may vary substantially from what the Company currently foresees.
On Behalf of the Board of Directors
GEODEX MINERALS LTD.
'Jack M. Maris'
Jack M. Maris,
President
For further information contact:
Christopher R. Anderson, V.P Business Development
(604) 689-7771, Toll free 1-888-999-3500, Email: info@geodexminerals.com
Visit our website at www.geodexminerals.org
Renmark Financial Communications Inc.
Neil Murray-Lyon : nmurraylyon@renmarkfinancial.com
Christine Stewart : cstewart@renmarkfinancial.com
Tel. : (514) 939-3989
Fax : (514) 939-3717
www.renmarkfinancial.com
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED THE CONTENTS OF THIS NEWS RELEASE AND ACCEPTS NO RESPONSIBILITY FOR THE ADEQUACY OR THE ACCURACY THEREOF.
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EXPLORATEUR |
CODE : GXM.V |
ISIN : CA3719372029 |
CUSIP : 371937103 |
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Geodex est une société d’exploration minière d'or et de cuivre basée au Canada. Geodex détient divers projets d'exploration au Canada. Ses principaux projets en exploration sont HARRY BROOK, MOUNT PLEASANT, ARMSTRONG BROOK, TURNBULL MOUNTAIN, VICTORIA LAKE PROPERTY, SISSON BROOK, TAMARACK LAKE, CRANBERRY LAKE et NEREPIS-CUNNINGHAM BROOK au Canada. Geodex est cotée au Canada et aux Etats-Unis D'Amerique. Sa capitalisation boursière aujourd'hui est 5,9 millions (4,6 millions US$, 4,0 millions €). La valeur de son action a atteint son plus haut niveau récent le 18 janvier 2008 à 99,00 , et son plus bas niveau récent le 01 janvier 2016 à 0,01 . Geodex possède 47 442 200 actions en circulation. |