|By Marketwired .||
|June 25, 2014 02:47 PM EDT||
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 06/25/14 -- Geodex Minerals Ltd. (TSX VENTURE:GXM)(FRANKFURT:G2W), ("Geodex") is pleased to announce that it has signed an option agreement with Elk Exploration Ltd. ("Elk Exploration") whereby Geodex will acquire a 100% interest in the West Gore Antimony property located near Halifax, NS. Under the terms of the agreement, Geodex, as operator, can acquire the property by making cash option payments of $75,000 over three years and issue 200,000 shares and via the payment of a 3% NSR on production.
The West Gore antimony-gold deposits are located in west-central Nova Scotia, approximately 50 km northwest of Halifax. The initial discovery and mining date back to the late 1800s. Mining continued intermittently into the 1930s. Antimony and gold bearing veins occur in three sub-parallel northwest trending faults. Antimony and gold are also documented in sheared wall rock, of which there could be increased potential. Two significant veins are indicated on the exploration licence of Elk Exploration. Past mining was mainly within the area of the Elk Exploration licence. There are also reports of antimony and gold bearing waste rock dumps.
Previous Underground Development/Mining: Antimony was discovered in the area in 1880. Underground development and antimony-gold mining occurred during 1884-1917 with some further development until 1939. In a 1957 report, Cameron Consulting Engineers stated that "about 100,000 tons of material were removed" including "between 70,000 and 80,000 tons of milling ore" that averaged "at least 4% antimony and about 0.1 oz. Troy gold". A later report by JVX Ltd. stated "the mine produced some 3,000 tons of antimony". Most past production was from the Main Vein - Fissure. There are as many as 8 shafts on this vein. Development was conducted on the Brook Vein - Berggren South Vein (2 shafts) and the Flowers Vein (2 shafts).
A 1944 report by George Packard estimated 56,200 tons of material on waste/tailings dumps containing an estimated 1.2 million pounds of antimony and 2,528 ounces of gold. Later reports document further sampling / metallurgical studies of the tailings/waste piles. The resource estimate reported above is an historical estimate and was not prepared using the resources categorizations set out in NI 43-101. The Company is not aware of any more recent resource estimate for this property. The Company is uncertain as to the relevance or reliability of the historical estimate.
Terms of the Transaction
Geodex shall pay Elk Exploration CDN $15,000 and 200,000 ordinary shares of Geodex at the initiation of the Option then a further CDN$25,000 on or before 12 months of Agreement date and a further CDN $35,000 on or before 24 months of Agreement date. There shall be an Advance Royalty Payment of CDN $5,000 on or before 36 months of Agreement date and all subsequent years on the Agreement date anniversaries thereafter until commencement of commercial production. There shall be a 3% NSR payable to Elk Exploration on production.
Geodex wishes to advise that Jack Marr, V.P. Exploration, has resigned from that role and from the Board of Directors of Geodex. The Board would like to thank Mr. Marr for his years of service and his role in the development of the company's Sisson discovery.
Geodex is a mineral resource company focused on critical metal projects and particularly in the Maritime Provinces of Canada. 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.
Christopher Ecclestone, 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.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
24Notion is full-service global creative digital marketing, technology and lifestyle agency that combines strategic ideas with customized tactical execution. With a broad understand of the art of traditional marketing, new media, communications and social influence, 24Notion uniquely understands how to connect your brand strategy with the right consumer. 24Notion ranked #12 on Corporate Social Responsibility - Book of List.
Sep. 30, 2016 08:00 AM EDT
Cloud computing is being adopted in one form or another by 94% of enterprises today. Tens of billions of new devices are being connected to The Internet of Things. And Big Data is driving this bus. An exponential increase is expected in the amount of information being processed, managed, analyzed, and acted upon by enterprise IT. This amazing is not part of some distant future - it is happening today. One report shows a 650% increase in enterprise data by 2020. Other estimates are even higher....
Sep. 30, 2016 08:00 AM EDT Reads: 4,218
An IoT product’s log files speak volumes about what’s happening with your products in the field, pinpointing current and potential issues, and enabling you to predict failures and save millions of dollars in inventory. But until recently, no one knew how to listen. In his session at @ThingsExpo, Dan Gettens, Chief Research Officer at OnProcess, will discuss recent research by Massachusetts Institute of Technology and OnProcess Technology, where MIT created a new, breakthrough analytics model f...
Sep. 30, 2016 08:00 AM EDT Reads: 2,149
Personalization has long been the holy grail of marketing. Simply stated, communicate the most relevant offer to the right person and you will increase sales. To achieve this, you must understand the individual. Consequently, digital marketers developed many ways to gather and leverage customer information to deliver targeted experiences. In his session at @ThingsExpo, Lou Casal, Founder and Principal Consultant at Practicala, discussed how the Internet of Things (IoT) has accelerated our abil...
Sep. 30, 2016 08:00 AM EDT Reads: 2,818
SYS-CON Events announced today that Niagara Networks will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Niagara Networks offers the highest port-density systems, and the most complete Next-Generation Network Visibility systems including Network Packet Brokers, Bypass Switches, and Network TAPs.
Sep. 30, 2016 08:00 AM EDT Reads: 558
Adobe is changing the world though digital experiences. Adobe helps customers develop and deliver high-impact experiences that differentiate brands, build loyalty, and drive revenue across every screen, including smartphones, computers, tablets and TVs. Adobe content solutions are used daily by millions of companies worldwide-from publishers and broadcasters, to enterprises, marketing agencies and household-name brands. Building on its established design leadership, Adobe enables customers not o...
Sep. 30, 2016 07:30 AM EDT
Everyone knows that truly innovative companies learn as they go along, pushing boundaries in response to market changes and demands. What's more of a mystery is how to balance innovation on a fresh platform built from scratch with the legacy tech stack, product suite and customers that continue to serve as the business' foundation. In his General Session at 19th Cloud Expo, Michael Chambliss, Head of Engineering at ReadyTalk, will discuss why and how ReadyTalk diverted from healthy revenue an...
Sep. 30, 2016 07:15 AM EDT Reads: 2,241
Cognitive Computing is becoming the foundation for a new generation of solutions that have the potential to transform business. Unlike traditional approaches to building solutions, a cognitive computing approach allows the data to help determine the way applications are designed. This contrasts with conventional software development that begins with defining logic based on the current way a business operates. In her session at 18th Cloud Expo, Judith S. Hurwitz, President and CEO of Hurwitz & ...
Sep. 30, 2016 07:15 AM EDT Reads: 3,269
The Internet of Things will challenge the status quo of how IT and development organizations operate. Or will it? Certainly the fog layer of IoT requires special insights about data ontology, security and transactional integrity. But the developmental challenges are the same: People, Process and Platform and how we integrate our thinking to solve complicated problems. In his session at 19th Cloud Expo, Craig Sproule, CEO of Metavine, will demonstrate how to move beyond today's coding paradigm ...
Sep. 30, 2016 07:00 AM EDT Reads: 3,465
Digitization is driving a fundamental change in society that is transforming the way businesses work with their customers, their supply chains and their people. Digital transformation leverages DevOps best practices, such as Agile Parallel Development, Continuous Delivery and Agile Operations to capitalize on opportunities and create competitive differentiation in the application economy. However, information security has been notably absent from the DevOps movement. Speed doesn’t have to negat...
Sep. 30, 2016 07:00 AM EDT Reads: 2,338
Leading cloud-centric IT organizations are establishing core capabilities to improve productivity, control costs and provide a highly responsive end-user experience. Key steps along this journey include creating an end-user cloud services catalog, automating workflows and provisioning, and implementing IT showback and chargeback. In his session at 19th Cloud Expo, Mark Jamensky, executive vice president of Products at Embotics, will walk attendees through an in-depth case study of enterprise I...
Sep. 30, 2016 07:00 AM EDT Reads: 1,507
Without a clear strategy for cost control and an architecture designed with cloud services in mind, costs and operational performance can quickly get out of control. To avoid multiple architectural redesigns requires extensive thought and planning. Boundary (now part of BMC) launched a new public-facing multi-tenant high resolution monitoring service on Amazon AWS two years ago, facing challenges and learning best practices in the early days of the new service. In his session at 19th Cloud Exp...
Sep. 30, 2016 06:15 AM EDT Reads: 1,129
The Transparent Cloud-computing Consortium (abbreviation: T-Cloud Consortium) will conduct research activities into changes in the computing model as a result of collaboration between "device" and "cloud" and the creation of new value and markets through organic data processing High speed and high quality networks, and dramatic improvements in computer processing capabilities, have greatly changed the nature of applications and made the storing and processing of data on the network commonplace.
Sep. 30, 2016 06:00 AM EDT Reads: 1,262
Your business relies on your applications and your employees to stay in business. Whether you develop apps or manage business critical apps that help fuel your business, what happens when users experience sluggish performance? You and all technical teams across the organization – application, network, operations, among others, as well as, those outside the organization, like ISPs and third-party providers – are called in to solve the problem.
Sep. 30, 2016 06:00 AM EDT Reads: 2,736
Digital transformation is too big and important for our future success to not understand the rules that apply to it. The first three rules for winning in this age of hyper-digital transformation are: Advantages in speed, analytics and operational tempos must be captured by implementing an optimized information logistics system (OILS) Real-time operational tempos (IT, people and business processes) must be achieved Businesses that can "analyze data and act and with speed" will dominate those t...
Sep. 30, 2016 05:30 AM EDT Reads: 1,284