Geodex Minerals Ltd is pleased to announce that the first phase of work on its Manitoba diamond project is now complete and plans are underway to follow up on promising geophysical targets. Five Mineral Exploration Licences (collectively the ‘Superior Diamond Project) covering a total of 108,000 hectares are located near the confluence of the Hayes and Gods Rivers in Northern Manitoba. The project area is within the Hudson Bay Lowlands approximately 100 km east of Gillam
(PRWEB) July 9, 2004 -- Geodex Minerals Ltd (Trading Symbol: GXM) is pleased to announce that the first phase of work on its Manitoba diamond project is now complete and plans are underway to follow up on promising geophysical targets. Five Mineral Exploration Licences (collectively the ‘Superior Diamond Project) covering a total of 108,000 hectares are located near the confluence of the Hayes and Gods Rivers in Northern Manitoba. The project area is within the Hudson Bay Lowlands approximately 100 km east of Gillam.
The area was selected to follow up on concentrations of kimberlite indicator minerals (KIMS) in till studies carried out by the Province of Manitoba (MGS) which are reported within the licence area. These are thought to indicate the presence of kimberlites somewhere in the region which is generally in a favourable position up-ice from most of the previous diamond exploration in Manitoba.
A fixed-wing triaxial, magnetic gradiometer survey was completed over the entire licence area by a contractor this spring. The high-quality geophysical results were reviewed by two geophysical groups and a initial selection of targets made with characteristics of kimberlite bodies. The older basement rocks in this area are overlain by up to 200 metres of Paleozoic sediments, mainly limestone, which offer a relatively inert backdrop to the intrusive kimberlite pipes or dykes.
A program is presently planned to detail in the region of twenty of these anomalies with ground magnetics and additional indicator mineral sampling. This systematic program will be helicopter-supported from Gillam and take place in August, providing confirmation of targets which will be drill-tested next winter.
Geodex Minerals Ltd has four gold and one diamond project. Armstrong Brook is the companys leading gold project. Details on Armstrong Brook and the four other projects in Geodexs inventory - the Potter Stock gold project , the New Caanan gold property, Corhill gold property, and the Superior Diamond project in Manitoba can all be found on our website, www.GeodexMinerals.com .
ON BEHALF OF THE BOARD OF DIRECTORS
GEODEX MINERALS LTD.
"Jack M. Maris"
Jack M. Maris
President
For further information contact: Christopher R. Anderson, Investor Relations
(604) 689-7771, Toll free 1-888-999-3500, Email: info@geodexminerals.com
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