VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 07/11/13 -- Geodex Minerals Ltd. (TSX VENTURE: GXM)(FRANKFURT: G2W), (the "Company" or "Geodex") announces that it has received the drilling results for its Peaked Mountain target on the Dungarvon Tungsten-Molybdenum-Tin Project in New Brunswick. Six holes were completed on the Peaked Mountain tungsten-molybdenum target for a total of 837 metres for which all results have been received. Results are pending for a further three holes which were completed on the South Dungarvon tin target for a total of 276 metres.
The focus of the Peaked Mountain drill program was to locate the source of numerous large and high grade tungsten plus molybdenum bearing boulders and tungsten-molybdenum-tin soil anomalies. The drilling did not intersect mineralization of the same grade and character as the boulders. The Peaked Mountain drilling was focused on and near the contact zone between the Dungarvon granite intrusion and the country rocks as well as geophysical anomalies within the Dungarvon Granite. Samples from three holes were submitted for analysis, while the other three holes did not intercept material mineralization.
The best result was from DU-13-03 which intersected 9.31 metres of 0.177% tungsten trioxide (WO3) and 0.036% tin, with mineralization in this interval mainly in quartz veins cutting country rocks in close proximity to the Dungarvon Granite. Molybdenite mineralization in DU-13-06 was focused in an 11.22 metre interval, occurring in quartz veins in the granite near its upper contact.
The results included:
Drill Hole From To Intercept WO3 Mo Tin
(metres) (metres) (metres) (%) (%) (%)
DU-13-03 17.20 17.77 0.57 0.137 0.001 0.008
DU-13-03 32.60 33.00 0.40 2.533 0.006 0.022
DU-13-03 42.49 51.80 9.31 0.177 0.011 0.036
Includes
DU-13-03 42.49 47.70 5.21 0.240 0.019 0.031
DU-13-04 less
than
33.85 34.45 0.60 0.001 0.329 0.002
DU-13-04 less
than
118.92 119.23 0.31 0.084 0.001 0.24
DU-13-06 less
than
28.36 39.57 11.22 0.001 0.056 0.003
Note: The above intervals do not represent true widths of mineralization, which would be less based on the measured core angles.
Mark Fields, President& CEO, commented "Our drill program was designed to locate the origin of the numerous tungsten-molybdenum high grade boulders which may have been sourced from a potential greisen-quartz vein system at Dungarvon. The drilling has limited the potential size of a deposit with the character of the boulders which were our exploration focus."
The South Dungarvon drilling were focused on a tin target. Results are anticipated in late July.
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.
About Geodex
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 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.
Contacts:
Geodex Minerals Ltd.
Investor Relations
(604) 689-7771
Toll free 1-888-999-3500
www.geodexminerals.com
