From the New Brunswick Telegraph Journal this morning:

Keen interest in N.B. mining boosts conference attendance

Telegraph-Journal
Published Tuesday November 6th, 2007

FREDERICTON - From the rush to develop mineral discoveries to the resurrection of dormant mines, New Brunswick's underground resources are attracting unprecedented interest......

One firm bullish about the future of mining in the province is Vancouver-based Geodex Minerals Ltd. (TSX:GXM).

Geodex has a 70-per-cent stake in the Sisson Brook deposit, northwest of Stanley.

The deposit has a preliminary estimate of 167 million tonnes of molybdenum, tungsten and copper. Further drilling has revealed that the deposit could contain as much as 290 million tonnes.

The Sisson Brook property could be worth in excess of $6 billion.

Geodex is expected to release an updated scoping study on Sisson Brook.

The study will reveal firm's new resource calculations, which will include an estimate of the value of the minerals on the property.

Chris Anderson, vice-president of business development for Geodex said the firm's latest drilling results have generated significant American interest.

"I'm on a plane tonight going to New York," he said.

"There's been an expression of interest out of the U.S. for financing up here. They're looking for a hedge against the deflating U.S dollar. They're looking for Canadian companies, especially ones that hold Canadian commodities."

Anderson said his company hopes to have Sisson Brook open by 2010.

If the project lives up to company expectations, the open pit mine could produce 20,000 tonnes per day over a 20-year period.

But Geodex will need to complete mine feasibility and environmental impact studies on the project, as well as negotiate with the province , before it becomes a reality.

While Geodex seeks to develop its discovery, other firms are concentrating on resurrecting abandoned mines.