|By Marketwired .||
|September 9, 2013 12:04 PM EDT||
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 09/09/13 -- Geodex Minerals Ltd. (TSX VENTURE:GXM)(FRANKFURT:G2W), (the "Company" or "Geodex") is pleased to announce that it has completed the data compilation and exploration program plans for the Benjamin copper-molybdenum project which it recently acquired in northeast New Brunswick (see Geodex news release August 13, 2013). The Benjamin Project work program will refine the known targets in preparation for a drill program.
The Benjamin Project is a porphyry copper-molybdenum target located approximately 60 km northwest of Bathurst, New Brunswick. It is an area of extensive glacial till cover. Previous exploration has partially defined an induced polarization ("IP") anomaly and soil copper-molybdenum -silver geochemical anomalies within the project area. The IP chargeability high is a strong anomaly which is partially coincident with the copper-molybdenum-silver soil anomalies. The anomalies are open in several directions and Geodex plans a work program which will include extending the IP survey area, further delineation of the soil anomalies and prospecting in order to fully define the anomalous areas.
Geodex has previously used similar combinations of exploration tools on other New Brunswick projects to define attractive drill targets which then successfully 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 Benjamin Project.
On the Benjamin Project two historic holes were drilled near the eastern margin of the primary prospective area and intercepted mineralization, the best reported assay being 1.42% copper, and 1.25% zinc over 1.5 metres. Based on recent work and specifically glacial ice movement studies Geodex believes these drill holes were drilled in the down ice direction of the prospective target area. Additionally a review of the historic drill hole data indicates that an intrusive dike was intersected, although the regional geology maps only indicate a package of volcanic rocks. Devonian felsic intrusive rocks are mapped east of the property. The presence of intrusive rocks is consistent with Geodex's target, a porphyry copper-molybdenum deposit. The primary target area within the Benjamin Project is approximately 1.5 square kilometers. Porphyry-type copper-molybdenum mineralization is documented approximately 2.5 kilometres east of this primary target area, located in an adjacent mineral claim. Detailed maps of the Benjamin target area and anomalies will be available shortly on the Geodex website at www.geodexminerals.com.
Mark Fields, President and CEO commented "Geodex is positioning itself for drill programs on the Benjamin Project and other properties. Two of our new projects have come through our association with well regarded prospector groups. We are particularly pleased to note our connection with Dick Mann, one of the vendors of the Benjamin Project. Dick is credited with a key role in the exploration in the early 1980's of the Sisson Tungsten-Molybdenum Project. Geodex developed the Sisson deposit into one of the largest known tungsten deposits in the world and it is currently being advanced towards production by Northcliff Resources Ltd."
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.