Post Dungarvon Drilling Plans

Written by Mark Fields, President & CEO

As an exploration company we are used to regularly being disappointed by exploration programs. Unfortunately the Dungarvon drilling was a disappointment.  We had worked hard at developing the drill targets and had unusually high hopes – I certainly did- that we would have some good intersections.  I believe our drill program did a good job of effectively testing for the source of the high grade boulders we had found through prospecting. Unfortunately it does not appear there is a significant deposit there. We are able to move on to other projects confident that we tested the target well.

Our current plans? While exploration regularly delivers disappointments, it also delivers some great surprises. That is after all how all the mines around the world have been found, by getting out and exploring.

An optimist point of view

So while we were focused on advancing Dungarvon and preparing for the drill program and then executing it over the past year, as an exploration driven company we have also developed a short list of potential new projects of interest. Some of these we already own, for example South Dungarvon, which is adjacent to Dungarvon, and was staked by Geodex separately. Some tin anomalies were a secondary target for our recent drill program and we are waiting for the lab results for those samples.

We also have a number of other projects we are interested in acquiring. We have a number or criteria and they include the following:

• Good quality projects irrespective of the commodity targeted;

• Projects which can be advanced to a drill stage with one exploration program;

• Have the likelihood of positioning Geodex for attractive drill programs in 2014 (ie; by completing  a short successful exploration program this year);

• Our focus remains New Brunswick although we will opportunistically look at other projects.

On the basis of the above we have looked at quite a bit of data from many projects, communicated with the prospectors and vendors in many cases and have or will be making property visits to ones we particularly like. From this activity we have developed a short list of projects of the greatest interest and are now acting on that.

Geodex as a company and all of us working for Geodex have been through this process a number of times before.  It is always exciting to see success at a project and see it keep advancing through one exploration phase to another. Sisson was one good success and it is close to achieving the goal of becoming a mine. I have had the good fortune to be involved with a couple of projects that became producing mines. And since for us the glass is always half full (or better!) we think the next Geodex project may be one that delivers a mine.

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