Sedex Mining Acquires Gold Property in West Timmins District Along Mattagami River Fault
2009年9月23日 - 10:31PM
Marketwired
Sedex Mining Corp. (TSX VENTURE: SDN) (the 'Company') is pleased to
announce, subject to regulatory approval, the acquisition of a 100%
interest in the Godfrey property consisting of eight units located
in Godfrey Township, Porcupine Mining Division, near to West
Timmins Mining.
To view a map of the Company's Godfrey gold property along the
West Timmins gold belt please click on the following link:
http://media3.marketwire.com/docs/923map.pdf
The Godfrey property is accessible by road and is approximately
10 km southwest of Timmins, Ontario. The Timmins Camp has produced
over 7 million ounces to date, the majority of which was mined in
proximity to the Destor-Porcupine Fault Zone.
The Godfrey Property has seen limited exploration work in the
past. Data from any previous work is currently being reviewed by
Company and will be used to guide upcoming exploration
programs.
Consideration for the property consists of $35,000 and 200,000
shares, all payable over three years. There is a 2% net smelter
return payable, one-half (1%) of which may be purchased for
$1,000,000.
The Company also announces that it has arranged for a private
placement for up to 10,000,000 units for total proceeds of up to
$400,000. The financing will consist of flow through units priced
at $0.04 per unit and non-flow through units priced at $0.025 per
unit. Each of the units will consist of one flow through or
non-flow through common share and one non-flow through,
non-transferable share purchase warrant entitling the holder to
purchase one additional common share for five years at a price of
$0.05 per share in the first year and $0.10 per share for the
remaining four years. In accordance with Exchange policies,
finders' fees may be paid on the funds raised. The private
placement is subject to regulatory approval.
About Sedex Mining Corp.
Sedex is well positioned to discover and capitalize on world
class gold, silver, copper, nickel and zinc deposits. During the
past few years the Company has strategically accumulated large land
packages in existing mining or mineral districts such as the
Abitibi in Ontario. These properties often have existing
infrastructure and are often within road access to metallurgical
facilities to process mined ores.
The statements made in this Press Release may contain
forward-looking statements that may involve a number of risks and
uncertainties. Actual events or results could differ materially
from the Company's expectations and projections.
The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this news release.
Contacts: Sedex Mining Corp. Kevin Hull Investor Relations (604)
685-2222 info@sedexmining.com www.sedexmining.com
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