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Geodex Announces 2012 Drill Program Plans; Shares Jump 10% But only 4 cents Above Year Lows

Geodex Minerals Ltd. (GXM.V) jumped 10% early in the afternoon to 11 cents, but is just 4 cents above year lows.

Today, GXM announced that it is planning a Phase II drill program to follow up on its Dungarvon 2011 drill discovery in central New Brunswick. Dave Martin, Vice President, New Brunswick Operations, described the plans: "The new discovery in 2011 at Peaked Mountain is exciting. It has provided a focal area to design a drill program to determine if this intersection is part of a larger mineralized system with better grades, such as evidenced in the mineralized boulder train which included assays of up to 6.7% WO3 and 0.8% molybdenum."

So far, 100,000 GXM shares have changed hands.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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