Geodex Announces New Inferred Resource in Mo, W from Zone III at the Sisson Brook Copper-tungsten-molybdenum Deposit, New Brunswick
The inferred resource in Zone III is estimated to be 10.82 million tons of 0.151% WO3 and 0.073% MoS2. It should be stressed that this is a preliminary calculation and is only a starting point for further work. Trading Symbol: GXM
(PRWEB) April 28, 2005 -- Geodex Minerals Ltd. (the ¡¥Company') is pleased to
report results of an ¡¥in-house' resource calculation on Zone III at the Sisson
Brook property in central New Brunswick. Zone III was one of the more
significantly mineralized areas on the property reported by Texasgulf/ Kidd
Creek Mines from their drilling in the period 1981 to 1983. The Company has
re-assayed selected samples from existing core to verify the assays but the
resource calculation is based primarily on this earlier information. Background
data on the project is summarized in News Releases of November 8th, 2004 and
April 5th 2005.
The inferred resource in Zone III is estimated to be
10.82 million tons of 0.151% WO3 and 0.073% MoS2. It should be stressed that
this is a preliminary calculation and is only a starting point for further work.
The estimate was made by David Martin, B.Sc., P.Geo., the Company's exploration
manager in New Brunswick who has examined all the core and visited the area on
site.
The resource is open along strike and to depth. It is based on 13
angled ¡¥BQ' drill holes by Kidd Creek Mines Ltd. in 1981 and 1982. The
mineralized zone has been traced on surface for 600 m and with the deepest
intersection to a vertical depth of 250 m. Holes were drilled on 100 m spaced
sections. Original assaying was done by Bondar-Clegg in Ottawa, using AA
(HNO3-HCL extraction) for MoS2 and calorimetric (thiocyanate extraction) methods
for WO3.
Zone III in previous technical reports is said to comprise at
least five separate subzones of scheelite-molybdenite- bearing quartz veinlets,
bearing approximately 032 „a and dipping steeply to the west. The deposit occurs
in both tuff and gabbro. The calculation was done using a Specific Gravity of
3.2 (from the same source) and an 0.05% Mo equivalent cutoff based on $US10.00
/lb molybdenum and $2.50/ lb tungsten.
Work will commence in June with
I.P., ground magnetic and gravity surveys to define the limits of Zone III and
to link it with the known copper-tungsten resources in Zones I and II to the
north. It also appears to be connected with at least one major
molybdenum-in-soils anomaly to the south and several untested I.P. anomalies.
Jack Marr, M.Sc., P. Geo., is the Qualified Person for this project as
defined by National Instrument 43-101.
On behalf of the Board of
Directors - Geodex Minerals LTD.
Jack M. Maris
President
For further information contact:
Christopher R.
Anderson, Investor Relations
(604) 689-7771
Toll free
1-888-999-3500
Email: e-mail protected from spam bots
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Source : http://www.prweb.com/releases/2005/4/prweb233675.htm