*Geodex drills 87.6 m of 0.139% WO3 at Sisson Brook*
Geodex Minerals Ltd (C:GXM) Shares Issued 87,696,349 Last Close 10/26/2009 $0.17 Tuesday October 27 2009 – News Release
GEODEX MINERALS ANNOUNCES SISSON BROOK 2009 DIAMOND DRILL PROGRAM RESULTS
Geodex Minerals Ltd. has released the results of the 2009 diamond drill program at the Sisson Brook project, located north of Fredericton, N.B. The drill program, comprising 28 holes totalling 4,897 metres, was successful in achieving all of its goals to date. The program intersected tungsten-molybdenum mineralization in the targeted inferred resource areas with the objective of upgrading the confidence level to the measured and indicated resource categories in the upcoming resource estimate being prepared by Mercator Geological Services. Additionally the company defined the higher-grade central zone of the deposit. The updated independent 43-101-compliant mineral resource estimate for zone III and Ellipse zone is expected to be completed in December, and will serve as the basis for the planned prefeasibility study.
The 2009 program was the most recent of a series of drill programs that have successfully advanced Sisson Brook from the exploration stage into the development stage. Drilling by Geodex between 2005 and 2008, at Sisson Brook led to the definition of an important resource of tungsten and molybdenum which is amenable to low-cost open-pit mining methods. Please refer to Stockwatch dated Jan. 27, 2009, for the results of the most recent independent 43-101-compliant mineral resource estimate for Sisson Brook.
As stated Stockwatch June 11, 2009, the goals of the 2009 drill program were three-fold. The primary purpose was to upgrade a portion for the inferred resource in both zone III and the Ellipse zone to the indicated and measured category for use in the planned prefeasibility study. These holes targeted inferred resources at the Ellipse zone and the northern, southern and eastern regions of zone III. A second objective was to provide better definition of the higher-grade areas to potentially allow Geodex to mine higher-grade mineralization in the early years of mining, thus reducing the capital cost payback period. This involved shorter holes within the central region of zone III. The third goal was to test targets adjacent to zone III and the Ellipse zone. Drill holes here tested the area immediately south of zone III and the area immediately east of zone III. The attached map identifies 2009 drill areas with respect to the zone III and Ellipse zone deposits. The bulk of the zone III and Ellipse zone mineralization has now been drilled off on 50-metre fences.
Drill core from the 2009 program was geologically logged and split with half-core samples being submitted to Activation Laboratories (Ancaster, Ont.) for assay. Please refer to the company’s website for a complete list of results from the 2009 drill holes. The table below is a summary of highlights from 12 of the more significant holes.
ZONE III CENTRAL AREA OF HIGHER GRADE
Hole From To Interval WO3 Mo Hole length(m) (m) (m) (m) (%) (%)
SB-09-16 137.00 14.00 132.50 118.50 0.128 0.043 SB-09-21 131.00 30.50 129.50 99.00 0.160 0.023 SB-09-23 125.00 11.00 125.00 114.00 0.187 0.024 SB-09-24 131.00 66.50 114.50 48.00 0.076 0.075
ZONE III EAST REGION
Hole From Interval Hole Length (m) (m) To (m) (m) WO3 (%) Mo (%)