Properties

Jake Lee

Jake Lee Project Rare Earth Elements ("REE")

Geodex acquired by staking the Jake Lee project covering approximately 3,800 hectares and located 80km south of Fredericton. Geodex is conducting exploration focused on the rare earth elements ("REE") potential with a secondary focus on gold and base metals based on the geology and supported by regional government sampling and assessment report data.

The Jake Lee claim block is underlain by the Jake Lee Mountain Granite, a northeast-trending intrusive complex. The intrusion is documented as exhibiting a lithological zonation and peralkaline chemistry similar to that of the Welsford Granite (a complex of syenite, granite and gabbro) which occurs approximately 25 km northeast of the Jake Lee Granite and hosts the McKeel Lake REE occurrence. Government data has defined magnetic and spectrometric thorium and potassium anomalies within the Jake Lee claim group. Assessment reports document soil samples and stream sediment samples anomalous in lanthanum (respectively up to 1210 ppm and 780 ppm), as well as phosphorous and molybdenum. These very anomalous levels are indicative of the REE potential, as only lanthanum of the REE suite was included in the analyses during previous exploration.

There is also gold potential on the Jake Lee claims, according to government assessment reports, which note very elevated gold values in rock float samples. In addition, multiple stream sediment and soil samples were reported to carry in excess of 100 ppb gold including 3580 ppb and 5280 ppb gold, although the results have been generally been erratic. There have also been anomalous base metal values associated with structural zones.

Geodex's initial 2011 exploration program at Jake Lee involved prospecting and geochemical surveys to assess prospective lithologies and structures. The Company is evaluating the results of this work to better define targets for additional exploration, including drilling, in 2012.

David Martin, B.Sc., P.Geo., Geodex's Vice President, New Brunswick, is a qualified person under NI 43-101 and is responsible for the design and conduct of the programs carried out by the Company on the Jake Lee Project. Mr. Martin has reviewed this release and approved its contents.


The Company expressly warns readers not rely on the information herein for investment or other related purposes. Accordingly, any use of this information is at their own risk and without liability to the Company. The information contained herein is not, and under no circumstances is to be construed as either a public or private offer of solicitation to purchase securities in the capital stock .The reader is referred to his/her professional investment advisor regarding investment or related decisions respecting the securities of the company.