Geodex reports further drill results from the 'East Flank Zone' at Sisson Brook and discovery of the new western 'Ellipse Zone'
09:30 EST Thursday, January 10, 2008
globeinvestor.com
Trading Symbol : GXM
Frankfurt : G2W
VANCOUVER, Jan. 10 /CNW Telbec/ - Geodex Minerals Ltd. (TSX-V: GXM) ('the Company') is pleased to report further assay results from the recently-reported East Flank zone at Sisson Brook (see News Release ofOctober 29 , 2007). 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 ofMarch 28, 2007 and October 17, 2007 . Because of its relatively recent identification, the east flank was not included in these resource estimates and was not part of the Sisson Brook Scoping Study (News ReleaseNovember 16, 2007).
The company also reports discovery of a new zone, named 'Ellipse' in 'scout' drilling on the west side of the potential Zone III open pit near the powerline. Both testify to the large size of the Sisson Brook mineralized system which continues to grow.
Recent results from both areas are as follows:
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Grid Az. Incl. From To: Inter'n WO3 Mo
Location m. m. m. % %
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EAST
FLANK
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SB-07-51 5+00S, 0+65E 272 -55 82.5 255.0 172.5 0.107 0.067
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'including' 195.0 253.5 58.5 0.134 0.131
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SB-07-54 7+00S, 0+25E 277 -55 187.0 227.5 40.5 0.075 0.056
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SB-07-57 6+50S, 0+25E 272 -55 12.5 229.5 217.0 0.061 0.025
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SB-07-59 5+50S, 0+50E 272 -55 35.5 284.5 249.0 0.118 0.038
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'including' 94.0 182.5 88.5 0.211 0.037
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ELLIPSE
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SE-07-02 11+00S, 040 -45 103.0 187.0 84.0 0.087 0.026
8+65W
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'including' 158.5 187.0 28.5 0.160 0.055
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SE-07-05 10+40S, 040 -45 23.0 119.0 96.0 0.066 0.025
8+15W
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>>
In the 'East Flank' area, previously released drill hole SB-07-53 on line 6+00S showed an enriched area in molybdenum, namely 0.122% Mo over an intersection of 251.3 m. The holes above show similar enrichment but with more variability. This variability includes holes such as SB-07-59 which have above average Zone III molybdenum values but have much higher tungsten values.
The 'Ellipse Zone' is entirely new. It lies on the west side of the gabbro body, a few hundred metres west of the projected Zone III open pit. A trench was excavated in 2007 (assays not yet received) and several 'scout' holes were drilled to test the up-ice edge of the most prominent molybdenum-in-soils anomaly on the property which did not appear to reflect any of the known zones of mineralization. While results show typical Zone III assays over significant widths, the 28.5 m deeper zone in drill hole SB-07-02 has double these values. This hole was ended prematurely and this higher-grade deep zone may be considerably wider. The company is not convinced that the up-ice 'source' area for the molybdenum soil anomaly has yet been found. Grid drilling in 2008 will try to pinpoint this source and continue testing of the higher grade zone discovered in drill holes SB-07-02 and SB-07-05.
One drill remains on the property to continue testing east of the East Flank zone and carrying out the first drilling on the high-grade Goodwin tungsten skarn which was found late in 2006 (News ReleaseJuly 19 , 2007). It lies three kilometres to the north of Zone III. Several regional targets will see preliminary testing before the drill is stood down at the end of January for maintenance. Drilling is planned to resume in early April, initially with three rigs.
Jack Marr, M.Sc., P.Geo., is the in-house QP for this project.
Forward Looking Statement
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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
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the accuracy or adequacy of this release.
For further information: Christopher R. Anderson, V.P Business Development, (604) 689-7771, Toll free 1-888-999-3500, info@geodexminerals.com, www.geodexminerals.com; Renmark Financial Communications Inc.: Neil Murray-Lyon, nmurraylyon@renmarkfinancial.com; Christine Stewart, cstewart@renmarkfinancial.com; Media: Eva Jura, ejura@renmarkfinancial.com; (514) 939-3989, Fax: (514) 939-3717, www.renmarkfinancial.com |
