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SISSON BROOK/ NASHWAAK

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SISSON BROOK/ NASHWAAK
Classification: Active/Verified
Status: Exploration
Type of Work: Surface
Location:
Canada, New Brunswick
Nearest Landmark: FREDERICTON
Distance from Landmark: 60 km
Direction from Landmark: NW
Latitude: 46 Degrees 21 Minutes (North)
Longitude: 67 Degrees 12 Minutes (West)
 


Property News

October 27, 2009
Geodex Minerals announced the results of the 2009 diamond drill program at the Sisson Brook project, located north of Fredericton, New Brunswick, Canada. Highlights include hole SB-09-16 intersecting 118.5 meters averaging 0.128% tungsten, 0.043% molybdenum from 14.00 meters.
March 2, 2009
Announced completion of an Updated Preliminary Economic Assessment Report on the Sisson Brook deposit. The report spreadsheet uses a mining and crushing rate of 20,000 tonnes/day over a mine life of 20 years. Overall recoveries (sorter and mill) are 74% for tungsten and 70% for molybdenum. Tungsten is priced at an APT price of $US 220/mtu of WO3 in concentrate, with a blended $US 50/tonne reduction (gravity/flotation) for offsite costs. Molybdenum uses a long term price of $US 15/lb with an 8% assessment for offsite costs and roasting. Mine Operating Costs remain at $Can 1.30/tonne ($US 1.11), beneficiation costs are re-assessed at $Can 4.66/tonne ($US 3.96) with G &A costs at $Can 0.66/tonne ($US 0.56). The re-calculated pre-production Capital Costs from the new process concept are slightly reduced at $US 339 million which includes a 30% contingency. Owner’s costs include $US 1.0 million for environmental costs during construction. Sustaining (and sinking fund provision for reclamation) costs are assessed at 2.5% of original capital per production year.
January 28, 2009
Geodex Minerals reported receipt of an updated resource model for its Sisson Brook tungsten-molybdenum deposit, located north of Fredericton, New Brunswick, Canada. This resource estimate incorporates an additional 11,800 m of infill and expansion drilling (48 angle holes) carried out on the deposit during the summer of 2008. It therefore adds substantial new data to the previous resource estimate, published in a News Release of June 5, 2008. For Zone III, measured resources total 11 Mt grading 0.109% tungsten oxide and 0.037% molybdenum. Indicated resources total 69.1 Mt grading 0.107% WO3 and 0.034% Mo. Inferred resources total 47.8 Mt grading 0.097% WO3 and 0.036% Mo, all at 0.125% WO3-eq cut-off.

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