Geodex announces an Agreement with Wardrop Engineering Inc. for a Scoping Study on the Sisson Brook Tungsten/Molybdenum/Copper Deposit, New Brunswick.
Vancouver, B.C. , May 30, 2007 - Geodex Minerals Ltd. (the 'Company') is pleased to report that a contract was signed with Wardrop Engineering Inc. on May 23, 2007 to provide a Scoping Study on the Sisson Brook tungsten/molybdenum/copper deposit north of Fredericton, New Brunswick. The near surface, potentially open-pittable deposit was explored and extensively drilled in 2006. It was the subject of an independent resource estimate by Mercator Geological Services Limited, which was announced in a News Release dated March 28, 2007. The text of this technical report has now been received and SEDAR-filed.
The Scoping Study will be completed by late September 2007. It will provide an overall preliminary economic assessment and also outline a plan by which the project will be advanced to succeeding pre-feasibility and feasibility stages. It will consider all development aspects, including geotechnical, open-pit mining, process engineering, infrastructure, environmental, capital costs, operating costs and economics. It will be based primarily on the block model, prepared as part of the resource estimate by Mercator Geological Services Limited.
Drilling is already underway to upgrade the 'inferred' resource in Zone III to a 'measured and indicated' status, required for pre-feasibility and feasibility level evaluations. Work will be carried out concurrently by independent engineering groups to prepare an environmental baseline study, to advance the geotechnical database and to develop a more extensive metallurgical program. These will be readied for inclusion in the pre-feasibility study which is expected to follow seamlessly from the Scoping Study. The company has a budget of $ 5.0 million for 2007.
About Geodex Minerals
Geodex Minerals Ltd. is a Canadian-based resource company with a focus on the exploration and development of three important properties in New Brunswick. The company has a 70% interest in their Sisson Brook flagship property which was shown in a recent independent report to contain an inferred molybdenum/tungsten resource of up to 167 million tonnes, depending on the cut-off used. At the Mount Pleasant West group of properties in southwestern New Brunswick, Geodex is considered the world's largest landholder of premium indium exploration ground.
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.org
Renmark Financial Communications Inc.
Neil Murray-Lyon: nmurraylyon@renmarkfinancial.com
Christine Stewart: cstewart@renmarkfinancial.com
Tel: (514) 939-3989
Fax: (514) 939-3717
www.renmarkfinancial.com
The TSX Venture exchange has not reviewed the contents of this news release and accepts no responsibility for the adequacy or the accuracy thereof.
 
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Geodex Minerals Ltd
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EXPLORATION STAGE |
CODE : GXM.V |
ISIN : CA3719372029 |
CUSIP : 371937103 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Geodex is a gold and copper exploration company based in Canada. Geodex holds various exploration projects in Canada. Its main exploration properties are HARRY BROOK, MOUNT PLEASANT, ARMSTRONG BROOK, TURNBULL MOUNTAIN, VICTORIA LAKE PROPERTY, SISSON BROOK, TAMARACK LAKE, CRANBERRY LAKE and NEREPIS-CUNNINGHAM BROOK in Canada. Geodex is listed in Canada and in United States of America. Its market capitalisation is CA$ 347 478 as of today (US$ 270 748, € 232 654). Its stock quote reached its highest recent level on January 18, 2008 at CA$ 99.00, and its lowest recent point on January 01, 2016 at CA$ 0.01. Geodex has 2 779 827 shares outstanding. |