Adriana Announces Assay Results
Published : March 17, 2011
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TORONTO, ONTARIO--(Marketwire - March 17, 2011) - Adriana Resources Inc. ("Adriana" or the "Company") – (News - Market indicators) is pleased to announce that it has received all the assay results from the 2010 Diamond drill program on the Lac Otelnuk Iron Project in Northern Quebec. In 2010, the Company drilled 40 vertical holes totaling 5,860 meters, of which 35 holes were in-fill holes drilled on a staggered grid pattern between existing holes. The in-fill holes were drilled to test the continuity of the iron formation, and upgrade a portion of the 'indicated' mineral resource to 'measured' resource category. The other five holes were drilled to complete the 500 meter by 600 meter South Zone grid pattern drilled in 2007 and 2008. A total of 1,417 core samples and 58 surface samples were analyzed by SGS Minerals Lakefield, including Quality Assurance/ Quality Control samples. The following table is a weighted average summary of the principal iron formation units for each drill hole at a 0% DTWR cut-off grade.

Lac Otelnuk Project 2010 Drill Hole Summary
Head Fe
DTC Si02
LO-S-1069 L330S/
  2a, 2b, 2c, 3a, 3b 10.2 116.2 106 30 20.4 66.7 2.9
LO-S-1070 L310S/
  2a, 2b, 2c, 3a, 3b 28.7 132.9 104.2 29.9 20.8 69.6 2.7
LO-S- 1071 L270S/
  2a, 2b, 2c, 3a, 3b 53.6 139.6 85.9 29.5 26.5 67.1 4.5
LO-S- 1072 L240S/
  2a, 2b, 2c, 3a, 3b 79 167.4 88.4 29.6 22.2 67.5 4.2
LO-S- 1073 L220S/
  2a, 2b, 2c, 3a, 3b 89 182.8 93.8 29.8 21.6 68.7 3.5
LO-S- 1074 L240S/
  2a, 2b, 2c, 3a, 3b 61 151.7 90.7 29.8 24.3 67.7 4.5
LO-S- 1075 L220S/
  2a, 2b, 2c, 3a, 3b 69 160.7 91.7 29.7 24.6 67.9 4
LO-S- 1076 L240S/
  2a, 2b, 2c, 3a, 3b 21.4 101 79.6 28.7 21.4 66.5 5.5
LO-S- 1077 L220S/
  2a, 2b, 2c, 3a, 3b 2 95 93 29.2 27.7 68.8 3.4
LO-S- 1078 L240S/
  2a, 2b, 2c, 3a, 3b 1.8 82.5 80.7 29.5 27.9 68.2 4.2
LO-S- 1079 L220S/
  2a-2b, 2b, 2c, 3a, 3b 1.9 82.1 80.2 28.9 27.3 68.2 3.7
LO-S- 1080 L240S/
  2a, 2b, 2c, 3a, 3b 3 73.2 70.2 29 24.6 68.8 3.2
LO-S- 1081 L220S/
  2b, 2c, 3a, 3b 2.5 72 69.5 28.2 21.6 68.9 2.9
LO-S- 1082 L240S/
  2b-2c, 2c, 3a, 3b 2.8 57.9 55.1 27.8 22.7 67.6 4.3
LO-S- 1083 L220S/
  2b-2c, 2c, 3a, 3b 2.6 58 55.4 27.3 23.1 69.2 3
LO-S- 1084 L250S/
  2c, 3a, 3b 2.7 51.5 48.8 27.7 23 69 2.9
LO-S- 1085 L210S/
  2b, 2c, 3a, 3b 1.8 66.5 64.7 28.1 22.7 69.1 2.9
LO-S- 1086 L230S/
  2c, 3a-3b, 3b 2.8 52.6 49.8 27.3 24.4 68.7 3.2
LO-S- 1087 L210S/
  2b, 2c, 3a, 3b 3.2 56.3 53.1 27.7 25.8 69.2 2.8
LO-S- 1088 L190S/
  2c, 3a, 3b 1.8 48 46.2 27.3 24.1 69.7 2.5
LO-S- 1089 L200S/
  2b-2c, 2c, 3a, 3b 4.4 59.6 55.3 27.7 24.7 68.6 3.2
LO-S- 1090 L180S/
  2c, 3a, 3b 2.8 56.3 53.5 27.8 25.9 69.6 2.7
LO-S- 1091 L200S/
  2b, 2b-2c, 2c, 3a, 3b 1.9 73.1 71.2 29 23.8 69.1 3.1
LO-S- 1092 L180S/
  2b, 2b-2c, 2c, 3a, 3b 4.6 73.6 69 27.8 23 68.5 3.4
LO-S- 1093 L180S/
  2a, 2b, 2c, 3a, 3b 103 194.2 91.2 29.3 24.4 68.7 3.4
LO-S- 1094 L190S/
  2a, 2b, 2c, 3a, 3b 2.1 76.6 74.6 28.9 25.6 68.6 3.1
LO-S- 1095 L200S/
  2a-2b, 2b, 2c, 3a, 3b 2.2 76 73.8 29.4 27.1 68.4 3.6
LO-S- 1096 L180S/
  2a-2b, 2b, 2c, 3a, 3b 1.6 87.4 85.7 29.8 26.2 67.7 3.1
LO-S- 1097 L170S/
  2a, 2b, 2c, 3a, 3b 83 176 93 29.7 24.5 69.9 2.4
LO-S- 1098 L180S/
  2a, 2b, 2c, 3a, 3b 1.5 93.6 92.1 29.4 27.5 69.1 3.1
LO-S- 1099 L200S/
  2a, 2b, 2c, 3a, 3b 1.4 93.6 92.2 29.6 28.8 67.9 4.2
LO-S- 1100 L180S/
  2a, 2b, 2c, 3a, 3b 64 158.3 94.3 29.8 22.5 69.5 2.7
LO-S- 1101 L200S/
  2a, 2b, 2c, 3a, 3b 71 163.3 92.3 28.7 21.1 68.5 3.5
LO-S- 1102 L160S/
  2a, 2b, 2c, 3a, 3b 88 181.9 93.9 29.4 22.9 65.3 4.4
LO-S- 1103 L160S/
  2a, 2b, 2c, 3a, 3b 50 143 93 29.3 25.8 68.9 3.1
LO-S- 1104 L210S/
  2a, 2b, 2c, 3a, 3b 79 172.2 93.2 29.1 25.9 65.7 3.2
LO-S- 1105 L200S/
  2a, 2b, 2c, 3a, 3b 94 186.8 92.8 29.4 26.9 68.3 3.7
LO-S- 1106 L160S/
  2a, 2b-2c, 2c, 3a, 3b 1.9 90.2 88.3 29.1 26.9 69.5 2.6
LO-S- 1107 L160S/
  2b-2a 2.8 28.8 25.9 35.5 27 69.6 1.8
LO-S-1108 L140S/
  2a, 2b, 2c, 3a, 3b 84 178.1 94.1 29.4 24.7 68.6 3.5
LO-S-1112 L130S/
  2a, 2b, 2c, 3a, 3b 59 155.2 96.2 28.3 25 66.5 4.5

The Company has drilled to date, 108 holes totaling 13,306 meters on the South Zone of the Lac Otelnuk iron formation. On May 7, 2009, the Company reported filing of a National Instrument 43-101 Technical Report and Resource Estimate for the Lac Otelnuk deposit prepared by Watts, Griffis and McOuat Limited (WGM). The Resource Estimate, based on the 2007 and 2008 drill results reported an 'indicated' mineral resource containing 4.29 billion tonnes grading 29.08% T Fe, and an 'inferred' resource of 1.97 billion tonnes grading 29.24% T Fe. The published mineral resource estimate is in the process of being updated to include the 2010 drill results.

A copy of the NI 43-101 Report was filed on SEDAR on May 7, 2009 and is available under the Company's SEDAR profile at The NI 43-101 Report is subject to the assumptions and conditions set out therein. Mr. Frank Condon, P.Eng., a consultant to the Company and a Qualified Person as defined in NI 43-101, has reviewed and approved the disclosure relating to the South Zone of the Otelnuk Property and the NI 43-101 Report referenced in this news release.

The Company also carried out other technical work on the Lac Otelnuk Project in 2010 which included: initiation of a "Geometallurgical Framework" study, bench scale metallurgical testing, environmental baseline monitoring, and the commissioning of a Preliminary Economic Analysis Study.

Adriana is planning an extensive drilling campaign for the 2011 field season to commence as soon as weather conditions permit.


Allen J. Palmiere, President and CEO

Certain information regarding the Company, including the Company's plans to increase and upgrade mineral resources and management's assessment of future plans and operations, may constitute forward-looking statements under applicable securities laws and necessarily involve known and unknown risks and uncertainties. Without limitation, statements relating to potential mineralization and resources, exploration results, mining and development, future plans and objectives of the Company and imprecision of mineral resources estimates, are forward-looking statements that involve various degrees of risk. Certain important risk factors could cause the Company's actual results to differ materially from those expressed or implied by such forward-looking statements including, without limitation, changes in the world-wide price of mineral commodities and currency fluctuations, general market conditions, the uncertainty of future profitability and access to sufficient capital, risks inherent in mineral exploration, development, construction and mining operations, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, environmental risks, access to labour and services and competition from other companies. As a consequence, actual results may differ materially from those anticipated in the forward-looking statements and caution should be exercised on placing undue reliance on forward looking information.

Adriana Resources Inc.
Connie Dos Santos

Adriana Resources Inc.

ISIN : CA00735P1062
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Adriana Res. is a iron development stage company based in Canada.

Adriana Res. holds various exploration projects in Brazil, in Canada and in Finland.

Its main exploration properties are MUSTAVAARA in Finland, BRAZORE LTDA and MACKENZIE IGNEOUS EVENT in Brazil and UNAD JV in Canada.

Adriana Res. is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 2.4 millions as of today (US$ 1.9 millions, € 1.7 millions).

Its stock quote reached its highest recent level on May 05, 2006 at CA$ 2.03, and its lowest recent point on October 12, 2023 at CA$ 0.02.

Adriana Res. has 157 554 238 shares outstanding.

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Annual reports of Adriana Resources Inc.
2008 Annual Report
Annual Report 2007
Financings of Adriana Resources Inc.
5/22/2011Continues Negotiations
2/15/2011Announces Signing $28 Million Private Placement With WISCO
12/31/2009Announces Flow-Through Private Placement Closing
12/17/2009Announces C$4 Million Flow-Through Financing and New Chairma...
11/15/2007Announces $30 Million Private Placement
Option Grants of Adriana Resources Inc.
9/18/2009Engages Investor Relations Specialists & Grants Incentive St...
8/19/2009Grants Incentive Stock Options
6/16/2009Grants Incentive Stock Options
6/26/2008Grants Incentive Stock Options
Nominations of Adriana Resources Inc.
4/9/2013The Company Appoints a Director, Metallurgical
3/11/2013Announces Resignation of a Director of the Company
2/4/2013The Company Appoints a Director, Environment and Sustainabil...
7/20/2009Appoints Allen J. Palmiere to Board of Directors
11/20/2008Appoints Director of Port Development for Brazil Operations
6/25/2008Appoints Joseph Fodor as Executive Vice President
5/16/2008Appoints Michael Petrina Vice President Operations
4/2/2008Appoints Paul Yeou to the Board of Directors
Project news of Adriana Resources Inc.
10/23/2013(Lac Otelnuk)The Company Awards Feasibility Study Contract for Lac Otelnu...
8/15/2013(Lac Otelnuk)on Corporate Position And Progress on Lac Otelnuk Project
10/22/2012(Lac Otelnuk)Provides Project Update for Lac Otelnuk
3/20/2011(Lac Otelnuk)Announces Assay Results
1/17/2011(Lac Otelnuk) Adriana Announces Strategic Partnership with WISCO
2/12/2009(Lac Otelnuk)Confirms Lac Otelnuk Iron Deposit Over 22.5 Square Kilometre...
1/29/2009(Lac Otelnuk)Commences Resource Estimate at Lac Otelnuk Iron Project
11/25/2008(Lac Otelnuk)Completes 2008 Exploration Program At Lac Otelnuk Iron Proje...
7/9/2008(Lac Otelnuk)Drills 1,730 Meters at Lac Otelnuk; Completes Geophysics on ...
6/4/2008(Lac Otelnuk)Commences 2008 Diamond Drill Program on the Company's 100% O...
5/29/2008Reaches Milestone in Brazil Port Permitting
4/3/2008(Lac Otelnuk)Reports Results at Lac Otelnuk - Drills 95.8m of 30.4% Fe
2/19/2008(Lac Otelnuk)Announces Update on Lac Otelnuk Drill Program
1/10/2008(Brazore Ltda) Completes Purchase of Brazilian Port Land; Achieves First P...
Corporate news of Adriana Resources Inc.
5/30/2016Adriana Files Financial Statements for the Quarter Ended Mar...
5/9/2016Adriana Provides Shareholder Update
4/1/2016Adriana Announces Change Of Director And Change Of CFO
3/31/2016Adriana Announces Change of Director and Change of CFO
2/26/2016Adriana Files Annual Financial Statements Ended December 31,...
1/4/2016Adriana Funds the Lac Otelnuk Joint Venture beyond 2020
11/6/2015Adriana Files Third Quarter Financial Statements Ended Septe...
8/6/2015Adriana Files Second Quarter Financial Statements ended June...
4/23/2015Adriana announces that it has filed a NI 43-101 Technical Re...
4/23/2015Adriana announces completion of the Feasibility Study on the...
4/22/2015Adriana Announces Completion of the Feasibility Study on the...
3/6/2015Vista Partners Publishes March 2015 Macroeconomic & Investme...
2/26/2015Adriana Files Financial Statements for the Year Ended Decemb...
2/6/2015Vista Partners Publishes February 2015 Macroeconomic & Inves...
11/6/2014Adriana Files Third Quarter ended September 30, 2014
10/21/2014Adriana Announces its Participation in Feasibility Study for...
9/18/2014Adriana Grants Incentive Stock Options
8/8/2014Adriana Files Second Quarter Ended June 30, 2014
7/3/2014Vista Partners Publishes July 2014 Macroeconomic & Investmen...
6/17/2014Adriana Grants Incentive Stock Options
5/8/2014Adriana Announces Results of the Financial Quarter ended Mar...
4/4/2014Vista Partners Publishes April 2014 Macroeconomic & Investme...
10/30/2013Announces Completion of Mineral Resource Estimate
4/13/2011(Lac Otelnuk)Announces Positive Preliminary Economic Assessment on Lac Ot...
1/25/2011Adriana Res. announces grant of 947.500 incentive options at...
12/1/2009BNN - Chinese Demand For Iron Ore - Interview with Adriana C...
11/25/2009Announces Management and Board Changes
8/17/2009Announces Approval Of Amended Arcelormittal Convertible Debe...
7/24/2009Enters into Memorandums of Understanding with a Major Chines...
6/1/2009ArcelorMittal Extends Port Agreement with Adriana
3/9/2009& Stock Research Portal
1/6/2009Arcelormittal Extends Port Agreement with Adriana
11/12/2008Goldbard Cancels Agreement to Acquire MIE Metals Corp.
11/5/2008Iron sector hit by global slowdown
9/12/2008Closes $10 Million Financing
9/10/2008Goldbard Enters Agreement to Acquire MIE Metals Corp.
8/25/2008featured in the Globe and Mail
8/20/2008Partners With ArcelorMittal
8/11/2008Announces $2 Million Financing
7/2/2008We're Moving!
6/20/2008featured in Global Mining Finance
5/9/2008 Shareholders Approve Shareholder Rights Plan
5/9/2008Announces Dr. Anthony Patriarco Joins Board of Directors
4/8/2008 Adopts Shareholder Rights Plan
3/25/2008 Acquires Labrador Trough Iron Prospect
2/20/2008 Signs Letter of Intent with Makivik Corporation
2/14/2008Announces Brazilian Iron Ore Focus and Project Spin-Out
1/15/2008 Announces Conversion of Convertible Debentures
11/22/2007 Closes First Tranche of $30 Million Financing; Exercises Po...
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