NEW BRUNSWICK – Geodex Minerals, headquartered in Vancouver, has received a grant of $40,000 from the New Brunswick Department of Energy and Mines to help cover the cost of drilling at the company's South Dungarvon tin and Benjamin copper-molybdenum properties. Geodex has also proposed a financing to further support its programs, and the first tranche is to close soon.
The South Dungarvon project is located 80 km north of Fredericton. Two drill holes there indicated near surface tin mineralization that had not previously been discovered. The holes also intersected the interpreted major structure within the Dungarvon granite that Geodex believes is a key regional control for tin mineralization. Previous explorers report tin grades as high as 3.48% from trench samples in the target area. Further drilling will test the western extension of the major structure.
The Benjamin property hosts a porphyry copper-molybdenum target located 60 km northwest of Bathurst. Previous induced polarization and soil geochemistry surveys have hinted at copper-molybdenum-silver mineralization. The Benjamin target area is roughly 1.5 km2.
Maps of both properties are posted at GeodexMinerals.com.