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Geodex Minerals Financial News
Geodex Reports Further Drill Assays From the Molybdenum-Rich East Flank Zone at Sisson Brook, New Brunswick. Senior Project Engineer Hired to Coordinate Project Development
VANCOUVER, BRITISH COLUMBIA--(Marketwire -
March 25, 2008) - Geodex Minerals Ltd. ('the Company') (TSX
VENTURE:GXM)(FRANKFURT:G2W) is pleased to report assay results from
four more holes (SB-07-61, 64, 66 and 67) in the newly-discovered East
Flank zone at Sisson Brook. This new zone was located during the 2007
drill program and lies at the eastern margin of Zone III which was the
subject of resource estimates released in News Releases of March 28,
2007 and October 17, 2007. The discovery hole in this zone, SB-07-53,
featured an impressive 85.5 m interval of 0.305% Mo and 0.80% WO3.
Neither this hole nor subsequent releases of East Flank holes (see News
Release of January 10th, 2008) were included in the Sisson Brook
'Preliminary Economic Assessment' which was filed on SEDAR and
summarized in a News Release of November 16, 2007.
An updated Resource Estimate which will include this new area and
which will elevate the Zone III resource to 'Measured and Indicated'
status will be available in mid to late April. This report will form
the basis of the Sisson Brook pre-feasibility study which will be
completed by Wardrop Engineering in late September 2008.
Assay results are as follows:
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Grid Incl'n Az. From-To Interval
Hole No. Location (deg) (deg) m. m. WO3% Mo%
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SB-07-61 4+50S/0+80E -55 272 25.0-160.0 135.0 0.125 0.056
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SB-07-64 5+50S/0+10W -55 272 17.0-195.5 178.5 0.076 0.040
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'including' 30.5-101.0 70.5 0.108 0.055
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SB-07-66 6+00S/0+25E -70 272 21.5-494.0 472.5 0.070 0.045
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'including' 275.0-393.5 118.5 0.111 0.084
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SB-07-67 8+10S/2+10W -55 51 102.5-222.5 120.0 0.034 0.054
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These holes are the last drilled in 2007 and will be the last batch
included in the new block model and resource estimate. As in previous
releases on the East Flank, they reflect enhanced metal grades,
particularly in molybdenum which is the higher value commodity of the
two. Hole SB-07-66, drilled to 560 m, was the planned deep hole in this
area and showed continuous mineralization, as expected, over its entire
length although the intervals reported above were of highest grade.
The company is pleased to report also that Charles Morrissy B.Sc.
has been hired by the company as Senior Project Engineer for the Sisson
Brook development program. Charles ended the first part of his career
in 1990 as mine manager at the nearby Lake George antimony mine and has
worked since then for various companies in the mine development and
particularly in the environmental fields. He is resident in Fredericton
and brings to the company wide knowledge of the requirements of the New
Brunswick mine permitting process. He will oversee and coordinate this
year's geotechnical and engineering work on the project.
Jack Marr, M.Sc., P.Geo., is the in-house QP for this project.
The company also announces that pursuant to its stock option plan,
it has granted 200,000 options to consultants and employees. These will
be exercisable at a price of $00.76 for a period of five years.
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, President
The TSX Venture Exchange has not reviewed and does not accept responsibility for the accuracy or adequacy of this release.
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