drill results out !!!!!Adex Reports Initial High Grade Drill Results at Mount Pleasant
TORONTO, ONTARIO, Feb 08, 2011 (MARKETWIRE via COMTEX News Network) --
Adex Mining Inc. ("Adex" or the "Company") (TSX VENTURE: ADE) is pleased to announce the completion of its 2010 diamond drilling program on the tin-indium-zinc North Zone at the Mount Pleasant Mine Property in southwestern New Brunswick, Canada and the return of preliminary analytical results.
The purpose of the program was primarily to upgrade the North Zone National Instrument 43-101 ("NI 43-101") compliant "inferred" resources to "indicated" category and to obtain roof pillar geotechnical information in support of the planned definitive feasibility study for commercial development of the North Zone. The drilling was also intended to test and expand those high grade portions of the sub-zones identified at less than 250 metres depth. In total, 3,734 metres of drilling was completed in 26 NQ holes. Fifteen of the holes are vertical with the remainder oriented in various directions from 41 to 75 degrees dip.
Despite the definition drilling purpose of the program, exciting new exploration results are being generated. Hole AM-10-10, drilled in an underexplored part of the North Zone, intersected four metres of 4.67% tin ("Sn"), 14.5% 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,Adex Reports Initial High Grade Drill Results at Mount Pleasant
TORONTO, ONTARIO, Feb 08, 2011 (MARKETWIRE via COMTEX News Network) --
Adex Mining Inc. ("Adex" or the "Company") (TSX VENTURE: ADE) is pleased to announce the completion of its 2010 diamond drilling program on the tin-indium-zinc North Zone at the Mount Pleasant Mine Property in southwestern New Brunswick, Canada and the return of preliminary analytical results.
The purpose of the program was primarily to upgrade the North Zone National Instrument 43-101 ("NI 43-101") compliant "inferred" resources to "indicated" category and to obtain roof pillar geotechnical information in support of the planned definitive feasibility study for commercial development of the North Zone. The drilling was also intended to test and expand those high grade portions of the sub-zones identified at less than 250 metres depth. In total, 3,734 metres of drilling was completed in 26 NQ holes. Fifteen of the holes are vertical with the remainder oriented in various directions from 41 to 75 degrees dip.
Despite the definition drilling purpose of the program, exciting new exploration results are being generated. Hole AM-10-10, drilled in an underexplored part of the North Zone, intersected four metres of 4.67% tin ("Sn"), 14.5% zinc ("Zn"), 980 g/t indium ("In") and 0.56% copper ("Cu") beneath a historical hole which in the 1970s had intersected 41 metres of 4.08% Zn and 0.10% Sn. No indium analyses had been completed on core from the historical hole. The intersection suggests the discovery of a new-high grade sub-zone open both laterally and at depth. A follow-up hole has been completed up-dip from the historical hole with analytical results pending.
Other highlighted results are from Hole AM-10-18 which was drilled to test the southeastern extension of the Deep Tin Zone. Drilling intersected high grade mineralization of six metres grading 1.74% Sn, 7.01% Zn, 520 g/t In and 0.21% Cu. Hole AM-10-20 was drilled 15 metres to the west of a high grade intersection encountered in Hole AM-08-03 (0.27% Sn, 9.08% Zn, 1,920 g/t In and 1.22% Cu over 18 metres announced July, 2008) and returned two intersections of six metres each grading 0.49% Sn, 9.42% Zn, 212 g/t In and 0.46% Cu, and 0.26% Sn, 10.5% Zn, 1,860 g/t In and 0.91% Cu. In addition, Hole AM-10-13 which was drilled to test the southern extension of the North Adit Zone intersected nine metres of 1.62% Sn, 0.43% Zn, 121 g/t In and 0.59% Cu. Preliminary drilling results are tabulated below.
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Hole
Identifica- From To Length Tin Indium Zinc Copper Bismuth Arsenic
tion (m) (m) (m) (wt.%) (g/t) (wt.%) (wt.%) (wt%) (wt.%)
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AM-10-01 153 159 6 0.14 177 1.87 0.08 0.18 3.49
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222 228 6 0.34 136 0.78 0.26 0.04 2.12
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AM-10-04 22 28 6 0.13 160 5.99 0.17 0.03 1.14
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40 64 24 0.47 69 1.77 0.08 0.01 0.84
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AM-10-05 31 49 18 0.22 60 2.46 0.05 0.02 0.78
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AM-10-06 45 54 9 0.15 60 0.33 0.24 0.03 0.294
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AM-10-07 117 123 6 0.97 11 0.02 0.01 0.05 1.91
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AM-10-08 96 102 6 0.24 118 0.89 0.12 0.02 0.29
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AM-10-10 110 114 4 4.67 984 14.5 0.56 0.83 3.88
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AM-10-11 138 159 21 0.35 4 0.04 0.02 0.07 0.81
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AM-10-12 67 90 23 0.52 67 0.39 0.22 0.04 1.16
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AM-10-13 135 162 27 0.79 50 0.19 0.23 0.09 1.38
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Including 138 147 9 1.63 121 0.43 0.59 0.19 2.74
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AM-10-14 75 88.5 13.5 0.76 89 0.13 0.37 0.04 2.68
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AM-10-16 112 118 6 0.44 753 6.50 0.40 0.07 1.85
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AM-10-18 91 97 6 0.24 117 2.12 0.25 0.05 0.89
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202 208 6 1.74 520 7.01 0.21 0.03 0.36
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AM-10-20 111 117 6 0.49 212 9.42 0.46 0.02 0.9
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183 189 6 0.26 1,860 10.5 0.91 0.08 2.08
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AM-10-21 90 111 21 0.17 139 3.61 0.15 0.07 3.00
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123 129 6 0.21 241 3.70 0.06 0.04 2.45
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AM-10-22 60 65 5 0.17 235 2.12 0.31 0.01 0.64
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AM-10-23 50 68 18 0.16 280 1.65 0.12 0.03 0.79
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AM-10-24 60 69 9 0.22 103 2.92 0.06 0.02 2.97
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Nearly all of the drill holes to-date have intersected significant grades and widths of Sn-In-Zn mineralization. Due to the variable thickness and sinuous character of the mineralized bodies that make up the North Zone, no assessment of true thickness can be estimated from these individual intersections at this time. Holes AM-10-02, AM-10-03 and AM-10-26 were drilled for geotechnical assessment purposes and no core samples for assay were obtained. Analytical results remain pending for holes AM-10-15, AM-10-17, AM-10-19 and AM-10-25.
Concurrent with this drilling, a program of surface trenching, and additional sampling and analysis of core from historical holes located in the vicinity of the 2010 drilling has been completed. The results are being compiled and incorporated into Adex's GEMCOM database of the North Zone with the purpose of revising and upgrading an NI 43-101 compliant deposit model and resource estimate for the mineralized bodies.
The total North Zone 43-101 resource estimate presently includes an "indicated" resource of 10,882,700 tonnes grading 0.43% Sn, 67.8 g/t In and 0.67% Zn plus an "inferred" resource of 7,602,800 tonnes grading 0.22% Sn, 74.6 g/t In and 0.99% Zn. The work is being conducted by Adex in conjunction with an upcoming definitive feasibility study of the North Zone. Details of the North Zone resource estimate are compiled in the NI 43-101 compliant Technical Report, entitled "A Technical Review of the Mount Pleasant Property, Including a Mineral Resource Estimate on the North Zone, Southwestern New Brunswick for Adex Mining Inc.", dated May 6,