Geodex reports acquisition of three new claim blocks near the Sisson Brook Tungsten-Molybdenum-Copper Deposit, New Brunswick.
The Nashwaak River property (“the property”) is the subject of an Option Agreement recently
concluded between Geodex Minerals (‘the company’) and two private companies based in New
Brunswick. The property is composed of three separate claim blocks (total of 100 claims) located
5 km to the west of the main Sisson Brook property where development work is now taking
place.
To earn a 90% interest in the property, Geodex has agreed to make cash payments to the owners
(each as to 50%) of $30,000 and issue 150,000 shares over a three year period. The optionors
will retain a 2% NSR, half of that being subject to a buyback by the company at any time for
$500,000 per 0.5%. Geodex has a minimum work commitment of $175,000 over that three year
period.
The entire claim area is underlain by the Devonian Nashwaak granite, the Becaguimec Lake
Gabbro and in the case of the northern block, various geological units ranging in age from
Cambrian to Devonian. No previous exploration has been reported from the area of two of the
claim groups. The southeastern claims were explored by Utah Mines Ltd. which located an area
of soils anomalous in tin and tungsten. Till samples collected by the New Brunswick Department
of Natural Resources (NBDNR) to the southeast and down-ice from all three properties
contained extremely high values in tungsten. Ablation till samples in this area (NBDNR) also
showed high values in tin, tungsten, uranium and tantalum. Geological Survey of Canada stream
silt samples also show elevated tungsten and molybdenum values.
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.com
