Adriana Resources Inc.

Published : November 25th, 2008

Completes 2008 Exploration Program At Lac Otelnuk Iron Project

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Keywords :   Brazil | Canada | Diamond | Iron | K Street | Volatility | Water |

 
Adriana Completes 2008 Exploration Program At Lac Otelnuk Iron Project

Adriana Resources Inc. ("Adriana" or the "Company") - (TSX-V: ADI) is pleased to announce the completion of the 2008 Diamond drill exploration program at the Lac Otelnuk Iron Project located in Labrador Trough, Qu�bec, Canada. The Diamond drill program was designed to define a National Instrument ("NI") 43-101 compliant inferred mineral resource estimate on the South Zone of the Lac Otelnuk iron deposit.

During 2008, Adriana drilled 41 holes totalling 5,255 metres of BQ core. All the holes were drilled on the South Zone of the Lac Otelnuk deposit, with the exception of one hole which was drilled to explore the potential of a new zone west of the North Zone. Of special interest, a single exploration hole located 2,000 m west of the baseline on Section 10 North, confirmed the significant western extension of the iron formation under a broad topographic high or ridge. This area was not previously explored. The drill hole was lost before reaching the lower stratigraphic units. Further drilling in this area is planned for 2009.

Michael Beley, President and CEO of the Company stated, "Drilling on the South Zone of the Lac Otelnuk Iron Project continues to identify a significant iron formation. The step-out hole, approximately two kilometres to the northwest, has identified a similar stratigraphic zone that previously was thought to have been eroded. The Lac Otelnuk iron deposit has the potential to be developed to help supply the long term iron requirements of global steel mills."

A total of 67 Diamond drill holes totalling 7,446 m have now been drilled by Adriana on the South Zone (including 27 holes totalling 2,191 m drilled in 2007). The 2008 drill campaign completes grid drilling of a section of the iron formation, referred to as the South Zone, approximately 9 km long and 2.5 km wide, at a drill spacing of 600 m by 500 m. The drill spacing is believed to be sufficient to define an inferred mineral resource compliant with NI 43-101 standards. Complete assay results, being carried out by SGS Lakefield, are pending for the 2008 drill program and are expected to be completed before year end. Extensive Quality Control/Quality Assurance sampling procedures prepared and audited under the direction of Richard Risto, M.Sc., P.Geo., Watts, Griffis and McOuat Limited Senior Associate Geologist, are included in the Sampling and Assaying Protocols.

Drilling has shown that the Lac Otelnuk iron formation stratigraphy is very uniform, dips gently to the northeast and has a potential thickness of approximately 100 m where the stratigraphic section has not been eroded. Additional assays will determine the grade distribution within each of the eight stratigraphic units. The South Zone is open along strike (both northwest and southeast) and down dip where it gently dips under the overlying cap rock and is constrained only by the increasing thickness of overlying cap rock. The western flank of the deposit outcrops and is delimited by surface erosion.

During the 2008 field season, the Company also completed an aerial photograhic survey and an extensive Ground Differential GPS survey that will be used for future mineral resource estimation, baseline monitoring and conceptual open pit planning. Golder Associates has been retained to conduct environmental baseline studies and succesfully completed fall season surface and ground water sampling and analysis. Adriana's technical personnel and consultants are currently compiling all the 2007 and 2008 drill data and intends to retain an independent engineering firm to conduct mineral resource studies and prepare an updated NI 43-101 Technical Report upon completion of assaying.

Mr. Frank Condon, P.Eng., a director of the Company and a qualified person as defined by NI 43-101, has reviewed and approved the technical disclosure contained in this news release.

About Lac Otelnuk Iron Project

The Lac Otelnuk Iron Project is a Lake Superior type iron formation, or taconite, identified over a strike length of approximately 25 km, based on results from exploration drilling (36 holes) in the 1970s and geological and geophysical mapping. In 2007, the Company completed 27 Diamond drill holes totaling 2,191 m on the South Zone of the Lac Otelnuk Iron Project.

For further information on the Lac Otelnuk Iron Project please refer to Adriana's website at: http://www.adrianaresources.com/s/LacOtelnuk.asp

About Adriana Resources Inc.

Adriana's goal is to become a fully integrated iron ore producer through continued development of its iron ore port facility in Brazil, through acquisition of iron ore mineral resources in Brazil, and the advancement of the Lac Otelnuk Iron Project in Quebec, Canada.

For more information, contact Robert Ferguson or Ali Sinawi at (604) 629-0250 or toll free at (877) 629-0150 or visit the Company's website at www.adrianaresources.com.

ON BEHALF OF ADRIANA RESOURCES INC.

"Michael J. Beley"
President

Certain information regarding the Company including management's assessment of future plans and operations, may constitute forward-looking statements under applicable securities laws and necessarily involve risks associated with mining exploration and development, volatility of prices, currency fluctuations, imprecision of resource estimates, environmental risks, access to labour and services, competition from other companies and ability to access sufficient capital. As a consequence, actual results may differ materially from those anticipated in the forward-looking statements. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

You can also view this News Release on our website at:
http://www.adrianaresources.com/s/NewsReleases.asp?ReportID=329375


Suite 1580, One Bentall Centre
505 Burrard Street, Box 72
Vancouver, BC
Canada V7Y 1C6

Telephone: 604.629.0250
Fax: 604.629.0923
Toll Free: 877.629.0150
Email:
info@adrianaresources.com


(TSX-V: ADI)


Nov 25, 2008: News Releases: Adriana Completes 2008 Exploration Program At Lac ... (more...)

Nov 20, 2008: News Releases: Adriana Provides Update on Accelerated Permitting ... (more...)

Nov 20, 2008: News Releases: Adriana Appoints Director of Port Development for ... (more...)

Nov 12, 2008: News Releases: Goldbard Cancels Agreement to Acquire MIE Metals C... (more...)

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Adriana Resources Inc.

EXPLORATION STAGE
CODE : ADI.V
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$ 6.3 millions as of today (US$ 5.0 millions, € 4.4 millions).

Its stock quote reached its highest recent level on May 05, 2006 at CA$ 2.03, and its lowest recent point on September 30, 2022 at CA$ 0.04.

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...
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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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