Adex Mining Inc.

Published : June 09th, 2008

Assay Results from Mount Pleasant Drill Program

( 0 vote, 0/5 ) Print article
  Article Comments Comment this article Rating Follow Company  





Toronto ? Monday, June 9, 2008 - Adex Mining Inc. (?Adex? or the ?Company?) (TSX-V: ADE) is pleased to announce the return of assays from the first and second holes of its 2008 diamond drilling program on its Mount Pleasant Property in southwestern New Brunswick, Canada. The results are from assays of sampled core from vertical definition drill holes testing the tin-indium-zinc-copper (Sn-In-Zn-Cu) North Zone (?NZ?) where there is a historical non-National Instrument 43-101 (?NI 43-101?) compliant total ?resource? of 3,645,429 tonnes of 0.80% Sn, 107 parts per million In, 0.87% Zn and  0.19 % Cu at the NZ and the Deep Tin Zone, based upon a 1997 feasibility study completed by Kvaerner Metals Davy Ltd. The drilling is being completed as part of ongoing review of the Mount Pleasant Property with the purpose of completing a NI 43-101 compliant evaluation of the resource. 


The historical estimates presented above were prepared prior to the implementation of NI 43-101. A qualified person has not done sufficient work to classify these historical estimates according to NI 43-101 standards or the Canadian Institute of Mining, Metallurgy and Petroleum Definition Standards and Adex is not treating these historical estimates as current mineral resources as defined in NI 43-101.  They are presented because Adex considers them to be relevant and of historic significance.  These historical estimates should not be relied on.


Based upon the assay results, Hole AM-08-01 drilled 162 metres, from 93 ? 255 metres down-hole, of 0.22 wt.% Sn, 45 g/t In, 0.71 wt.% Zn, 0.08 wt.% Cu, 0.15 wt.% Bi, 0.15 wt.% WO3, 0.07 wt.% MoS2 and 3.07 wt.% As.  Included in this intersection is a high-grade tin section of 36 metres containing 0.78 wt.% Sn, 12 g/t In, 0.05 wt.% Zn, 0.13 wt.% Cu, 0.23 wt% Bi, 0.13 wt.% WO3, 0.08 wt.% MoS2 and 4.69 wt.% As, and includes two separate three metre sub-sections with tin grades as high as 3.23 wt.% and bismuth grades as high as 0.91 wt%.  In addition, a separate high grade indium-zinc-tin section within the aforementioned 162 metre section grades 12 metres of 408 g/t In, 8.19 wt.% Zn, 0.44 wt.% Sn, 0.50 wt% Cu, 0.15 wt.% Bi, 0.22 wt.% WO3, 0.14 wt.% MoS2 and 1.67 wt.% As.  Based upon these results additional sampling is being conducted on core from the hole.


Assays of sampled core from Hole AM-08-02 indicate the presence of higher WO3-MoS2 and lower Sn contents, and return a grade starting at nine metres depth of 0.23 wt.% WO3, 0.11 wt% MoS2, 0.05 wt.% Bi, 0.08 wt.% Sn, 34 g/t In, 0.56 wt.% Zn and 0.98 wt% As over 231 metres.   Included in this intersection is a higher grade tungsten-rich section of 69 metres starting at 90 metres depth at 0.47 wt.% WO3, 0.11 wt.% MoS2, 0.06 wt.% Bi, 0.10 wt.% Sn, 43 g/t In, 0.60 wt.% Zn and 1.14 wt.% As.  The result from this hole is exciting because this is a comparable tungsten and molybdenum grade and width to that found at the Fire Tower Zone (?FTZ?), but at a considerably shallower depth. The FTZ contains a NI 43-101 compliant inferred resource of 13,074,438 tonnes grading 0.35 wt.% WO3 and 0.21 wt.% MoS2 as outlined in the NI 43-101 compliant Technical Review of the Mount Pleasant Property, Including a Mineral Resource Estimate for the Fire Tower Zone Southwestern New Brunswick dated August 1, 2006 completed by Paul Dunbar, M.Sc., P.Geo., Senior Associate Geologist, Andrew Hara, P.Eng., Senior Associate Mining Engineer, Robert de l?Etoile, M.Sc., P.Eng., Senior Associate Engineer, and Dorota A. El-Rassi, M.Sc., P.Eng., Geological Engineer of Watts, Griffis and McOuat Limited, and Dr. Trevor Boyd, Ph.D., P.Geo., Independent Consultant, which is available at  In addition, within the hole, a high-grade tin intersection of 3.94 wt.% Sn over three metres is reported at 366 metres depth.


Assays remain pending from the sampling of core from five additional drill holes on the NZ plus four holes recently completed on the FTZ.  Due to the nature of the geological setting of the NZ mineralized bodies resulting in highly variable shapes and orientations of its zones, no estimation of true widths can be provided for these results at this stage. Exploration is continuing on the Mount Pleasant Property with two drills.


Procedures for core sampling include splitting the core in half using a hydraulic core splitter, sealing the core in secure packages and shipping the core by bonded carrier to S.G.S. Laboratories in Toronto for analysis using sodium peroxide fusion with ICP-OES finish for W, Mo, Sn, Bi, As, Zn, Cu, Pb, and ICP-MS finish for In.  A pulp duplicate unknown to the laboratory is submitted per batch of ten samples. A polymetallic standard, unknown to the laboratory, is included with each shipment of duplicate samples.  S.G.S. fulfilled standard QA/QC protocols.


?We are making significant progress in our efforts to upgrade and update the NZ?s historical tin-indium-zinc-copper mineral resource estimates to NI 43-101 compliant ?indicated/measured? categories?, said Kabir Ahmed, President and Chief Executive Officer of Adex?As we receive the remaining assay results from the NZ drill program, we expect to issue a new NI 43-101 compliant technical report on the NZ.?


Mr. Ahmed added that ?initial assay results from the NZ also show the presence of tungsten-molybdenum mineralization.  This is very exciting, as it may indicate the presence of previously unknown tungsten-molybdenum deposits in the NZ.?


The Mount Pleasant exploration program is under the direction of Trevor Boyd, P.Geo, the Company?s independent Geological Consultant and a qualified person for the purposes of NI 43-101, who, in compliance with NI 43-101, supervised the preparation of the technical information contained in this press release.


Adex Mining Inc. is a Canadian junior mining company with an experienced management team. The Company is focused on developing its flagship Mount Pleasant Mine Property, a multi-metal project that is host to promising tungsten-molybdenum and tin-indium-zinc-copper mineralization. Located in Charlotte County, New Brunswick, Mount Pleasant is situated approximately 80 kilometres south of Fredericton, the provincial capital, and is 65 kilometres from the United States border. The common shares of Adex trade on the TSX Venture Exchange under the stock symbol ?ADE?.


Kabir Ahmed
President, Chief Executive Officer and Director
Adex Mining Inc.
1-866-508-2339 (ADEX)

No securities commission or regulatory authority has approved or disapproved the contents of this press release.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this press release.


Certain statements in this press release may constitute "forward-looking" statements which involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements of Adex, its subsidiary or the industry in which they operate to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. When used in this press release, the words "estimate", "believe", "anticipate", "intend", "expect", "plan", "may", "should", "will", the negative thereof or other variations thereon or comparable terminology are intended to identify forward-looking statements. Such statements reflect the current expectations of the management of Adex with respect to future events based on currently available information and are subject to risks and uncertainties that could cause actual results, performance or achievements to differ materially from those expressed or implied by those forward-looking statements. These risks and uncertainties are detailed from time to time, including, without limitation, under the heading "Risk Factors", in reports filed by Adex with the Alberta, British Columbia and Ontario Securities Commissions which are available at and to which readers of this press release are referred for additional information concerning Adex, its prospects and the risks and uncertainties relating to Adex and its prospects. New risk factors may arise from time to time and it is not possible for management to predict all of those risk factors or the extent to which any factor or combination of factors may cause actual results, performance and achievements of Adex to be materially different from those contained in forward-looking statements. Although the forward-looking statements contained in this press release are based upon what management believes to be reasonable assumptions, Adex cannot assure investors that actual results will be consistent with these forward-looking statements. Given these risks and uncertainties, investors should not place undue reliance on forward-looking statements as a prediction of actual results.

The forward-looking information contained in this press release is current only as of the date of the press release. Adex does not undertake or assume any obligation to release publicly any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.


Adex Mining Inc.

ISIN : CA0069032070
Follow and Invest
Add to watch list Add to your portfolio Add or edit a note
Add Alert Add to Watchlists Add to Portfolio Add Note
Projects & res.
Asset profile
Contact Cpy

Adex Mining Inc. is a tin and zinc development stage company based in Canada.

Adex Mining Inc. holds various exploration projects in Canada.

Its main exploration properties are MOUNT PLEASANT MINE and AYLMER LAKE EAST in Canada.

Your feedback is appreciated, please leave a comment or rate this article.
Rate : Average note :0 (0 vote) View Top rated
Annual reports of Adex Mining Inc.
Annual Report 2007
Nominations of Adex Mining Inc.
4/21/2009Appoints Interim CEO and Commences Executive Search for ...
Project news of Adex Mining Inc.
10/24/2013Announces Update on National Instrument 43-101 Reports
4/16/2012Adam Bello >>> Adex Mining Inc. >> Adex Announces Filing of ...
3/1/2012Adam Bello >>> Adex Mining Inc. >> Adex Reports Updated Mine...
2/16/2012(Mount Pleasant Mine)Adam Bello >>> Adex Mining Inc. >> Adex Updates Development ...
10/28/2010(Mount Pleasant Mine)Announces the Commencement of Drilling on Mount Pleasant Pro...
10/28/2010(Mount Pleasant Mine)Announces the Commencement of Drilling on Mount Pleas
6/2/2010(Mount Pleasant Mine)Provides Update on North Zone Tin, Indium, Zinc Bench Scale ...
1/12/2010(Mount Pleasant Mine)Lab Scale Production of Indium
7/23/2009(Mount Pleasant Mine)targets tin-indium deposits for detailed evaluation at Mount...
4/6/2009(Mount Pleasant Mine)43-101 Compliant "Indicated" Mineral Resource Estimate of 10...
12/8/2008Filing of Fire Tower Zone NI 43-101 Compliant Technical Repo...
10/30/2008Results for Fire Tower Zone Scoping Study
10/8/2008(Mount Pleasant Mine)Reports Preliminary Phase 2 Drill Results, Including 15 Metr...
9/23/2008(Mount Pleasant Mine)Reports Fire Tower Zone Drill Results
8/1/2008(Mount Pleasant Mine) drill results include additional high-grade indium-zinc int...
7/24/2008Engages Leading Engineering Firm to Complete NI 43-101-Compl...
7/7/2008(Mount Pleasant Mine)Drill Results Include High-Grade Indium-Zinc-Copper Intersec
7/2/2008(Mount Pleasant Mine)engages leading global engineering firm to complete scoping ...
6/9/2008(Mount Pleasant Mine)Assay Results from Mount Pleasant Drill Program
5/9/2008(Mount Pleasant Mine)confirms delivery of second drill rig at Mount Pleasa
4/25/2008(Mount Pleasant Mine)Update of Its Drilling Activities at Mount Pleasant
2/25/2008(Mount Pleasant Mine)Confirms Delivery of First of Two Drill Rigs and Updates 200...
Corporate news of Adex Mining Inc.
3/5/2015Adex Mining Announces Repayment of Great Harvest Loans
3/5/2015Announces Repayment of Great Harvest Loans
2/12/2015Adex Mining Announces Successful Completion of Rights Offeri...
2/11/2015Adex Mining Announces Successful Completion of Rights Offeri...
12/18/2014CWN Mining Acquisition Corporation Announces Private Placeme...
12/18/2014IIROC Trading Resumption - ADE
12/17/2014Adex Mining Announces Terms of Rights Offering and Files Fin...
12/17/2014IIROC Trading Halt - ADE
8/15/2014Adex Mining Announces Obtaining Loan of Up to Additional US$...
6/20/2014Adex Mining Announces Amendment to Exercise Price of Stock O...
8/16/2013Announces Results of Annual and Special Meeting of Sharehold...
10/3/2012Adam Bello >>> Adex Mining Inc. >> Adex Announces Receipt of...
10/3/2012Announces Receipt of Updated Approval to Operate
6/14/2012Adam Bello >>> Adex Mining Inc. >> Adex Mining Announces Res...
1/31/2012Adam Bello >>> Adex Mining Inc. >> Adex Reports High-Grade D...
6/22/2011Adam Bello >>> Adex Mining Inc. >> Adex Mining Announces Res...
5/18/2011Adam Bello >>> Adex Mining Inc. >> Adex Mining announces the...
5/18/2011Announces the Exercise of Warrants by Great Harvest for an A...
3/7/2011Adam Bello >>> Adex Mining Inc. >> Adex Mining Concentrate O...
3/7/2011Concentrate Optimization Program Test Results
3/1/2011Adam Bello >>> Adex Mining Inc. >> Adex provides update of M...
3/1/2011of Activities at Mount Pleasant
2/22/2011Adam Bello >>> Adex Mining Inc. >> Adex reports remaining dr...
2/22/2011Reports Remaining Drill Results at Mount Pleasant
1/6/2011to commence tin metal test work
6/2/2010Provides Update on North Zone Tin, Indium, Zinc Bench Scale ...
12/23/2008Completes mineralogy study
12/9/2008Provides Year-End Update
9/19/2008Reports Final Phase 1 Results for North Zone at Mount Pleasa
6/12/2008Grants Options to Directors, Officers and Certain Employees ...
5/29/2008Filing of Interim Financial Statements for the Three Months ...
5/21/2008Awards Contract to SGS Lakefield Research Limited for Minera...
4/16/2008Awards Contract To SGS Lakefield Research Europe for Initial...
3/20/2008Filing of Audited Financial Statements for the Year Ended De...
1/9/2008Awards Contract for Tailings Dam Repair and Upgrade to New B...
Comments closed
Latest comment posted for this article
Be the first to comment
Add your comment
CA$ 0.010
08/08 10:30 -
Prev close Open
0.010 0.010
Low High
0.010 0.010
Year l/h YTD var.
0.005 -  0.015 -33.33%
52 week l/h 52 week var.
0.005 -  0.020 -%
Volume 1 month var.
1,001 -%
24hGold TrendPower© : -15
Explores for Molybdenum - Tin - Tungsten - Zinc
Interactive chart Add to compare
Print Compare Export
Last updated on : 1/8/2010
You must be logged in to use the porfolio and watchlists (free)
Top Newsreleases
Annual variation
5 years chart
3 months chart
3 months volume chart
Mining Company News
Plymouth Minerals LTDPLH.AX
Plymouth Minerals Intersects Further High Grade Potash in Drilling at Banio Potash Project - Plannin
AU$ 0.12-8.00%Trend Power :
announces expected non-cash impairment
AU$ 7.16+0.56%Trend Power :
Oceana Gold(Au)OGC.AX
AU$ 2.35-4.86%Trend Power :
Western Areas NL(Au-Ni-Pl)WSA.AX
Advance Notice - Full Year Results Conference Call
AU$ 3.86+0.00%Trend Power :
Canadian Zinc(Ag-Au-Cu)CZN.TO
Reports Financial Results for Q2 and Provides Project Updates
CA$ 0.12+4.55%Trend Power :
Stornoway Diamond(Gems-Au-Ur)SWY.TO
Second Quarter Results
CA$ 0.02+100.00%Trend Power :
McEwen Mining(Cu-Le-Zn)MUX
US$ 3.29-8.10%Trend Power :
Rentech Announces Results for Second Quarter 2017
US$ 0.20-12.28%Trend Power :
Reduced Funding Requirement
GBX 0.59-2.17%Trend Power :
Lupaka Gold Corp.LPK.V
Lupaka Gold Receives First Tranche Under Amended Invicta Financing Agreement
CA$ 0.02+0.00%Trend Power :
Closes Bridge Loan Financing
CA$ 2.68+1.13%Trend Power :
Guyana Goldfields(Cu-Zn-Pa)GUY.TO
Reports Second Quarter 2017 Results and Maintains Production Guidance
CA$ 1.84+0.00%Trend Power :
Lundin Mining(Ag-Au-Cu)LUN.TO
d Share Capital and Voting Rights for Lundin Mining
CA$ 7.13+1.71%Trend Power :
Canarc Res.(Au)CCM.TO
Canarc Reports High Grade Gold in Surface Rock Samples at Fondaway Canyon, Nevada
CA$ 0.30+0.00%Trend Power :
Q A April 2017 Quarterly Report
AU$ 0.36+26.79%Trend Power :
Uranium Res.(Ur)URRE
Commences Lithium Exploration Drilling at the Columbus Basin Project
US$ 6.80-2.86%Trend Power :
Platinum Group Metals(Au-Cu-Gems)PTM.TO
Platinum Group Metals Ltd. Operational and Strategic Process ...
CA$ 2.01-1.95%Trend Power :
Devon Energy(Ngas-Oil)DVN
Announces $340 Million of Non-Core Asset Sales
US$ 64.46+7.34%Trend Power :
Precision Drilling(Oil)PD-UN.TO
Announces 2017Second Quarter Financial Results
CA$ 8.66-0.35%Trend Power :
2nd Quarter Report
AU$ 0.03+0.00%Trend Power :