VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sept. 17, 2013) - Geodex Minerals Ltd. (TSX VENTURE:GXM) (G2W.F), (the "Company" or "Geodex")is pleased to announce that it has completed the data compilation and exploration program plans for the South Dungarvon Tin and Pabineau Molybdenum Projects in New Brunswick. The work programs will refine the known targets in preparation for drill programs.
South Dungarvon Tin Project
Geodex undertook a first phase drill program at South Dungarvon, located 80 km north of Fredericton, in June this year. The drill holes tested a zone of tin soil anomalies and a reported major fault in the eastern region of the Late Devonian Dungarvon Granite. Two of the drill holes intersected near-surface tin mineralization, establishing a new tin occurrence in the eastern part of the property (see Geodex news release August 1, 2013). Importantly these two drill holes also successfully intersected a major structure within the Dungarvon Granite which Geodex believes is a key regional control for the tin mineralization. The property is covered by a blanket of glacial till, approximately 5 metres thick and masking the underlying bedrock. The drill program was the first program to test the character of the bedrock in this area of the property.
Having identified the structure and examined its geological characteristics in drill holes SD-13-01 and SD-13-03, Geodex will conduct a VLF survey to map the extensions and orientation of the structure that appears to control the mineralization. Geodex also plans to undertake further soil sampling and prospecting to fully define the tin soil anomalies.
Previous work by Geodex and other parties has discovered multiple tin mineral occurrences within the South Dungarvon property occurring within and along the contact of the Dungarvon Granite. The tin mineralization intersected in the drill holes completed earlier this year was mainly in quartz (+/- chlorite, fluorite, carbonate) veins cutting the Dungarvon Granite and as local disseminations and clusters in the granite. The results included 1.32 metres grading 0.239% tin, 5.50 metres of 0.062% tin and 0.60 metres grading 0.372% tin (not true widths). The tin soil anomalies and reported structure continue east and west of SD-13-01 and SD-13-03. Limited previous prospecting by Geodex resulted in the discovery of tin bearing rubble near a previous trench in the western region of the property with one sample returning 21,300 ppm tin.
Definition of the structure and soil anomalies east and west of SD-13-01 and SD-13-03 will be the target of the proposed work program and it is expected that the results will provide targets for further drilling.
Pabineau Molybdenum Project
The Pabineau project is a molybdenum target located approximately 10 km southwest of Bathurst, New Brunswick. (see Geodex news release August 13, 2013) Geodex has completed its data compilation and program planning after acquiring this project earlier this year. The Pabineau Molybdenum Project work program will refine the known targets in preparation for a drill program.
The Pabineau project is in an area of extensive glacial till cover. Previous work has identified a number of boulders containing molybdenite. Assays from various boulders included 0.254% Mo, 0.244% Mo and 0.149% Mo. Molybdenum soil and stream sediment anomalies have been reported in multiple locations within the property. Historic packsack drilling in the northern part of the property intersected near-surface molybdenum mineralization with reported intersections including 1.68% MoS2 over 0.8 metres and 0.32% MoS2 over 1.5 metres.
Geodex plans on using an Induced Polarization ("IP") geophysical survey, prospecting, soil sampling and trenching in order to further define the previously defined anomalous areas
David Martin, P. Geol., Geodex's Vice President New Brunswick Operations commented "Geodex has previously used similar combinations of exploration tools on other New Brunswick projects to define attractive drill targets and subsequently discovered significant mineralization. Geodex will integrate glacial ice direction data, local geology, and data from prospecting, soil sampling and geophysical surveys to identify drill hole locations at the South Dungarvon and Pabineau Projects"
Mark Fields, President and CEO commented "Geodex has remained active during this period of historically low junior company share prices and very restricted financing opportunities. These fall programs, in addition to our plans at the Benjamin Copper-Molybdenum Project, are intended to position Geodex for multiple drill programs which could lead to a drill discovery."
Geodex's disclosure of a technical or scientific nature in this press release has been reviewed and approved by David Martin, P. Geol., Geodex's Vice President New Brunswick Operations, who acts as the qualified person under the definition of National Instrument 43-101.
Geodex is a mineral resource company focused on New Brunswick, Canada. Geodex has continued to actively develop its exploration portfolio focused on the discovery of base and critical metals in New Brunswick. Geodex has operated for a decade in New Brunswick where it has had a number of discovery and development successes including Sisson and Mount Pleasant West.
ON BEHALF OF THE BOARD OF DIRECTORS
GEODEX MINERALS LTD.
Mark Fields, President & CEO
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.
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