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Geodex Minerals Ltd (2)
Symbol GXM
Shares Issued 20,500,531
Close 2014-08-26 C$ 0.045
Market Cap C$ 922,524
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Geodex acquires Mina Jacaranda deposit

2014-08-27 08:11 ET - News Release

Mr. Christopher Ecclestone reports

GEODEX MINERALS LTD.: ACQUISITION OF PAST-PRODUCING OPEN-PIT ANTIMONY MINE IN SPAIN

Geodex Minerals Ltd. has registered the concession of the past-producing Mina Jacaranda antimony deposit, located in southwest Spain within the autonomous community of Extremadura and province of Badajoz. This concession has an area of 750 hectares, being approximately 4.3 kilometres long and 1.4 to 1.9 kilometres wide. This action is part of a planned aggregation of producing and past-producing antimony assets. Extremadura has the most extensive history of Antimony mining of any part of Spain.

The acquired area

The area acquired by Geodex has been under review by the company for several months. It consists of the past-producing Mina Jacaranda located near Herrera del Duque in the eastern region of Extremadura. Extremadura is located to the west-southwest of Madrid, bordering Portugal.

The Jacaranda mine is located about four miles northeast of Herrera del Duque, on the western slope of the Sierra de la Dehesa, in the vicinity of Arroyo de Canada Mojada. Access to the workings is by a road that originates in the town of Herrera del Duque.

The past mining operation was carried out using open-pit techniques. The mine is currently inactive being last operated during the period of 1970 to 1977. The stibnite was hand cobbed. At that time the mine was operated, by Indumetal SA, as a satellite pit to the San Antonio antimony mine/mill complex about 70 miles to the west. This San Antonio antimony complex was, until 1984, the largest producing antimony mine in Europe.

There is a principal pit at Mina Jacaranda, located in the southern half of the concession, the dimensions of which are 80 metres long, 20 metres wide and depths from five to 28 metres. There are other minor pits farther east.

The mining operation was performed by benching on the main face. The site is characterized as a reef-type deposit with gently dipping antimony-bearing quartz-carbonate veins. The veins are reported to dip between 15 degrees and 20 degrees to the east and strike approximately north-south, cutting metasediments. The veins are reported to have a lenticular morphology, with local widening (pinch and swell) where mineralization is reported to be concentrated.

Geodex plans an initial program of geological mapping and sampling of exposed bedrock at the pits within the concession.

Geodex's disclosure of a technical or scientific nature in this press release has been reviewed and approved by David Martin, PGeo, Geodex's vice-president, New Brunswick operations, who acts as the qualified person under the definition of National Instrument 43-101.

We seek Safe Harbor.

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