More Drilling NEWS5,000 meter diamond drill program to commence (Moly (at) $35.00 (US)/lb)
13:02 EDT Tuesday, June 28, 2005
VANCOUVER, June 28 /CNW/ - Adanac Moly Corp. (AUA:TSX.V) reports that a 5,000 meter (16,400 feet) diamond drill program will commence this week on the Ruby Creek Molybdenum project located approximately 24 km Northeast of Atlin, B.C.
Currently the Company is completing a socio economic/environmental study scheduled to be completed in September, a pre-feasibility to be completed by the end of June and a feasibility study to be completed in the fall of this year on its NI43-101 compliant 205,100,000 tonne measured as indicated resource grading .062% Mo.
Drilling is scheduled to begin within the pit perimeter in order to upgrade the existing resource, provide additional samples for metallurgical testing and provide information for geo-technical studies on pit slope stability.
Exploration drilling will be carried out south and east of the existing pit on anomalous molybdenum geochemical targets previously outlined by past operators as well as work performed by Adanac in the 2004 season.
The diamond drill program will be managed by Robert Pinsent, PhD., P.Geo a qualified person under NI43-101.
Results will be reported as they are received.
On Behalf of Management
ADANAC MOLY CORP.
"Larry W. Reaugh"
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Larry W. Reaugh,
President and Chief Executive Officer
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/For further information: Adanac Moly Corp., 2A 15782 Marine Drive, White Rock, BC, CANADA, V4B 1E6, Telephone: (604) 531-9639, Facsimile: (604) 531-9634, Email: info(at)adanacmoly.com, Visit www.AdanacMoly.com for more information/