Adriana Resources Inc.

Published : February 12th, 2009

Confirms Lac Otelnuk Iron Deposit Over 22.5 Square Kilometres; Remains Open Along Strike

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

 
Adriana Confirms Lac Otelnuk Iron Deposit over 22.5 Square Kilometres;

Adriana Resources Inc. ("Adriana" or the "Company") -- (TSX-V: ADI, WKN: A0F7EL) is pleased to announce the results from the 2008 delineation drill program on the South Zone of its Lac Otelnuk Iron Project in the Labrador Trough, Qu�bec, Canada. The program consisted of 40 Diamond drill holes ("DDH") totaling 5,255 metres of BQ core. This program completes a 67 DDH campaign, where drilling was carried out on a regular grid with lines spaced 600 metres apart, and drill holes every 500 metres on the lines to cover an area 9 kilometres by 2.5 kilometres.

The results from the 2007/2008 drilling program at Lac Otelnuk confirm a large, flat lying and shallow iron formation over an approximate area of 22.5 square kilometres. The targeted formation remains open along strike to the northwest and southeast. The Company has yet to drill test the North Zone, where drilling in the 1970s outlined the presence of a significant iron formation similar to that of the South Zone," commented Michael Beley, President of Adriana.

The Lac Otelnuk iron formation strikes northwest to southeast. It subcrops at surface and dips gently (from 2 to 5 degrees) to the northeast, eventually plunging under sedimentary formations. The western extent is terminated by erosion. Due to the gentle north-easterly dip and westerly sloping terrain, much of the sedimentary rocks that overly the South Zone have been stripped away by erosion, exposing the Upper Iron Formation.

"We look forward to the results of the National Instrument ("NI") 43-101 compliant Mineral Resource estimate that will add significant value to this project and Adriana's asset base." Michael Beley commented. "The work is currently underway with Watts, Griffis and McOuat Limited ("WGM"), a Toronto-based firm of independent consulting geologists and engineers."

The Lac Otelnuk iron formation is composed of individual stratigraphic units stacked one on top of each other, identified as Units 2 (upper), 3 (middle) and 4 (lower). For mapping and core logging purpose these Units have been sub-divided into 8 Sub-units identified as Sub-units 2A, 2B, 2C, 3A, 3B, 3C, 4A and 4B, on the basis of lithology and iron content. The highest concentration of magnetite occurs in the Upper Iron Formation (Unit 2) followed by the Middle Iron Formation (Unit 3) and the Lower Formation (Unit 4).

The uppermost five Sub-units, 2A to 3B, are considered to have the greatest resource potential, based on vertical and horizontal continuity, magnetite content, and depth. These five Sub-units combine to form a continuous vertical thickness averaging approximately 75 metres containing concentrations of magnetite in excess of 20% Davis Tube Weight Recovery (%DTWR). The Table presented below summarizes the drill results of all 67 holes for the upper 5 Sub-units, of which holes LO-S-1001 to LO-S-1027 were drilled in 2007. Sub-units 3C and 4A also contain significant intersections of iron which may eventually increase the overall thickness of the deposit.

Lac Otelnuk Drill Hole Summary � South Zone:

Drill

Stratigraphic

From

To

Length

Head Grade

Concentrate Grade

Hole

Units

(m)

(m)

(m)

%SiO2

%Fe

%DTWR

%SiO2

%Fe

76-130S-2

2a,2b,2c

18.36

61.82

43.46

40.8

31.2

34.8

5.34

65.8

LO-S-1001

2a,2b,2c

38.72

94.55

55.83

45.4

27.7

25.5

2.91

69.2

LO-S-1002

2b,2c

4.00

41.20

37.20

42.5

29.5

19.4

1.73

70.4

LO-S-1003

2b,2c,3a,3b

3.00

68.10

65.10

47.0

27.6

24.4

2.52

69.7

LO-S-1004

Lost in 2A

 

 

 

 

 

 

 

 

LO-S-1005

2a,2b,2c,3a,3b

1.23

87.58

86.35

44.3

31.1

28.8

2.64

66.2

LO-S-1006

2b,2c,3a,3b

3.55

48.80

45.25

49.4

25.7

26.5

3.75

68.8

LO-S-1007

2a,2b,2c,3a

1.72

50.67

48.95

37.0

27.5

29.5

3.29

69.2

LO-S-1008

2a,2b,2c,3a

2.36

62.65

60.29

46.3

29.2

29.5

3.36

69.4

LO-S-1009

2b,2c,3a

6.70

43.04

36.34

46.9

26.2

26.3

5.27

67.1

LO-S-1010

2b,2c,3a

1.00

61.31

60.31

43.7

29.8

19.4

1.85

70.7

LO-S-1011

2a,2b,2c,3a,3b

3.15

72.50

69.35

46.4

28.2

29.9

3.57

68.2

LO-S-1012

2a,2b,2c,3a,3b

7.53

100.54

93.01

45.0

29.3

30.0

3.94

67.9

LO-S-1013

2b,2c,3a,3b

1.89

49.02

47.13

46.3

27.3

20.9

2.20

69.7

LO-S-1014

2b,2c,3a,3b

2.38

59.33

56.95

46.7

27.7

25.0

2.45

69.7

LO-S-1015

2b,2c,3a,3b

3.16

59.00

55.84

42.4

29.6

22.5

2.22

69.6

LO-S-1016

2b,2c,3a,3b

2.91

57.95

55.04

42.8

27.4

20.2

2.03

67.7

LO-S-1017

2a,2b,2c,3a,3b

5.40

100.00

94.60

43.9

30.2

26.5

2.42

69.7

LO-S-1018

2b,2c,3a,3b

2.78

76.40

73.62

43.7

29.9

23.9

2.39

69.9

LO-S-1019

2a,2b,2c,3a,3b

3.00

79.38

76.38

45.0

28.4

24.7

1.96

69.9

LO-S-1020

2a,2b,2c,3a,3b

15.42

101.75

86.33

43.4

30.4

28.3

3.69

68.6

LO-S-1021

2a,2b,2c,3a,3b

21.20

101.49

80.29

43.0

30.3

27.9

4.68

67.6

LO-S-1022

2b,2c,3a,3b,3c

2.25

86.41

84.16

43.4

30.0

26.4

3.28

69.1

LO-S-1023

2b,2c,3a,3b

0.82

85.40

84.58

43.8

30.1

25.2

3.28

69.1

LO-S-1024

2a,2b,2c,3a,3b

11.65

107.54

95.89

43.0

30.4

29.2

5.71

66.8

LO-S-1025

2a,2b,2c,3a,3b

3.00

80.90

77.90

43.0

30.4

31.6

4.65

67.3

LO-S-1026

2a,2b,2c,3a,3b

1.14

71.75

70.61

43.5

30.4

30.2

4.73

66.7

LO-S-1027

2a,2b,2c,3a

1.35

72.86

71.51

43.2

30.3

27.9

4.01

67.8

LO-S-1028

2a,2b,2c,3a,3b

2.88

73.35

70.47

44.9

28.3

25.0

3.22

69.2

LO-S-1029

2a,2b,2c,3a,3b

1.10

79.10

78.00

44.8

29.1

26.5

3.76

68.5



Lac Otelnuk Drill Hole Summary � South Zone (cont�d):

Drill

Stratigraphic

From

To

Length

Head Grade

Concentrate Grade

Hole

Units

(m)

(m)

(m)

%SiO2

%Fe

%DTWR

%SiO2

%Fe

LO-S-1030

2b,2c,3a,3b,3c

3.09

68.85

65.76

45.0

27.9

20.5

3.74

68.3

LO-S-1031

2a,2b,2c,3a,3b

0.39

72.28

71.89

44.5

28.9

23.0

3.47

68.8

LO-S-1032

2a, 2b,2c,3a,3b

42.50

135.30

92.80

44.2

29.1

25.1

3.33

69.3

LO-S-1033

2a,2b

77.32

90.26

12.94

41.4

32.2

20.4

2.72

69.5

LO-S-1034

2b,2c,3a,3b

43.90

133.67

89.77

44.8

29.4

24.7

4.19

68.1

LO-S-1035

2a,2b,2c,3a,3b

45.12

135.60

90.48

45.7

29.0

23.0

3.98

68.3

LO-S-1036

2a,2b,2c,3a,3b

28.95

118.11

89.16

48.2

28.8

25.2

4.00

68.3

LO-S-1037

2a,2b,2c,3a,3b

7.74

103.46

95.72

44.7

29.4

24.2

3.05

69.3

LO-S-1038

2b,2c,3a,3b

4.75

79.74

74.99

46.4

28.2

21.3

2.88

69.2

LO-S-1039

2a,2b,2c,3a,3b

1.87

92.54

90.67

43.5

29.4

25.9

2.81

69.0

LO-S-1040

2a,2b,2c,3a,3b

1.70

90.46

88.76

44.7

28.9

24.7

2.70

68.9

LO-S-1041

2a,2b,2c,3a,3b

2.20

92.24

90.04

43.8

29.7

23.8

2.58

69.0

LO-S-1042

2b,2c,3a,3b

14.10

75.09

60.99

45.7

27.0

24.8

2.92

68.5

LO-S-1043

2b,2c,3a,3b

5.26

77.38

72.12

45.3

27.7

22.1

2.88

68.9

LO-S-1044

2b,2c,3a,3b

1.42

90.71

89.29

44.7

29.6

22.6

2.93

67.1

LO-S-1045

2a,2b,2c,3a,3b

3.35

90.94

87.59

44.5

29.3

27.7

3.48

68.5

LO-S-1046

2a,2b,2c,3a,3b

20.90

104.29

83.39

45.8

27.8

22.9

4.48

67.5

LO-S-1047

2a,2b,2c,3a,3b

22.36

106.48

84.12

44.0

28.0

22.3

4.33

67.4

LO-S-1048

2a,2b,2c,3a,3b

0.54

88.26

87.72

44.0

29.7

27.0

3.57

68.4

LO-S-1049

2b,2c,3a,3b

2.36

82.62

80.26

44.8

29.1

23.9

3.50

68.5

LO-S-1050

2b,2c,3a,3b,3c,4a

4.31

77.16

72.85

45.1

27.4

23.8

3.77

67.9

LO-S-1051

2b,2c,3a,3b

3.64

64.02

60.38

46.4

27.8

25.7

3.67

68.3

LO-S-1052

2a,2b,2c,3a,3b

0.79

88.74

87.95

44.5

29.6

27.0

3.38

68.9

LO-S-1053

2a,2b,2c,3a,3b

30.48

114.43

83.95

46.4

26.3

21.2

4.49

67.2

LO-S-1054

2a,2b,2c,3a,3b

20.70

118.69

97.99

44.6

29.1

25.4

4.25

67.8

LO-S-1055

2a,2b,2c,3a,3b

42.42

161.80

119.38

44.7

28.2

25.3

4.32

67.5

LO-S-1056

2a,2b,2c,3a,3b

81.22

183.29

102.07

44.9

29.6

24.0

3.78

68.6

LO-S-1057

2a,2b,2c,3a,3b

72.00

172.02

100.02

43.4

30.4

30.0

3.14

68.4

LO-S-1058

2a,2b,2c,3a,3b

64.39

163.54

99.15

44.8

28.9

25.2

3.59

68.5

LO-S-1059

2a,2b,2c,3a,3b

77.40

169.94

92.54

44.0

29.8

22.0

3.18

68.7

LO-S-1060

2a,2b,2c,3a,3b

67.17

155.84

88.67

45.3

29.4

22.0

4.87

67.2

LO-S-1061

2a,2b,2c,3a,3b

41.15

134.42

93.27

45.0

29.5

24.4

4.65

67.4

LO-S-1062

3a,3b

3.59

29.05

25.46

48.5

26.6

25.4

5.31

67.0

LO-S-1063

2c,3a,3b

5.69

50.35

44.66

47.2

27.3

23.5

5.64

66.3

LO-S-1065

2c,3a,3b

1.67

54.30

52.63

45.0

27.8

28.2

3.36

69.2

LO-S-1066

2b,2c,3a,3b

2.70

63.54

60.84

45.4

27.7

24.6

3.59

69.1

LO-S-1067

2b,2c,3a,3b

2.95

66.70

63.75

46.0

27.5

24.4

3.15

68.9

LO-S-1068

2b,2c,3a,3b

1.72

70.40

68.68

44.6

28.5

24.6

2.94

69.6



Note: Iron assays are total iron; all reported lengths are actual core measurements and true widths will be slightly less when adjusted for dip.

Core samples were logged, photographed and split by Adriana's geological team, one half of the core was stored on site and the other half bagged, labeled, and shipped directly to SGS Minerals in Lakefield, Ontario for metallurgical and chemical analysis. In addition to conducting optimum grinding tests prior to the start of routine metallurgical and chemical analysis, the assay program also included a Quality Assurance/ Quality Control ("QA/QC") component that included the insertion of blanks and standards, duplicate samples, replicate assays, and replicate assaying of a portion of the samples at Midland Research Center in Nashwauk, Minnesota, the designated Secondary Lab. Results from the Secondary Lab are pending and are required to finalize the QA/QC program.

About Lac Otelnuk Iron Project

The Lac Otelnuk Iron Project lies within the Labrador Trough in Northern Qu�bec. The deposit is a Lake Superior-type (Mesabi Range) taconite iron formation. These types of deposits have been the principal source of iron ore mined in the world. The Lac Otelnuk iron formation has been identified over a strike length of approximately 25 kilometres through mapping and exploration drilling in the 1970s.

Full information and detailed results on the exploration program will be contained in the NI 43-101 compliant Mineral Resource Estimate Technical Report that is being completed by WGM. Please refer to Adriana's website for additional information at: www.adrianaresources.com/s/LacOtelnuk.asp

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 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 Qu�bec, 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 accuracy or adequacy of this release.

You can also view this News Release on our website at:
http://www.adrianaresources.com/s/NewsReleases.asp?ReportID=337904


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)


Feb 12, 2009: News Releases: Adriana Confirms Lac Otelnuk Iron Deposit over 22.... (more...)

Jan 29, 2009: News Releases: Adriana Commences Resource Estimate at Lac Otelnuk... (more...)

Jan 06, 2009: News Releases: Arcelormittal Extends Port Agreement With Adriana (more...)

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

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Adriana Resources Inc.

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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$ 5.5 millions as of today (US$ 4.4 millions, € 3.9 millions).

Its stock quote reached its highest recent level on May 05, 2006 at CA$ 2.03, and its lowest recent point on September 29, 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...
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0.035 0.040
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0.035 0.040
Year l/h YTD var.
0.025 -  0.225 -79.41%
52 week l/h 52 week var.
0.025 -  0.540 -89.71%
Volume 1 month var.
552,428 -%
24hGold TrendPower© : 27
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Explores for Iron - Vanadium
 
 
 
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Last updated on : 1/23/2010
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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 :
Santos(Ngas-Oil)STO.AX
announces expected non-cash impairment
AU$ 7.09+1.00%Trend Power :
Oceana Gold(Au)OGC.AX
RELEASES NEW TECHNICAL REPORT FOR THE HAILE GOLD MINE
AU$ 2.20+0.00%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
TO ACQUIRE BLACK FOX FROM PRIMERO=C2=A0
US$ 3.26+4.15%Trend Power :
Rentech(Coal-Ngas)RTK
Rentech Announces Results for Second Quarter 2017
US$ 0.20-12.28%Trend Power :
KEFIKEFI.L
Reduced Funding Requirement
GBX 0.58+1.93%Trend Power :
Lupaka Gold Corp.LPK.V
Lupaka Gold Receives First Tranche Under Amended Invicta Financing Agreement
CA$ 0.10-9.09%Trend Power :
Imperial(Ag-Au-Cu)III.TO
Closes Bridge Loan Financing
CA$ 2.43-0.41%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$ 6.98+0.14%Trend Power :
Canarc Res.(Au)CCM.TO
Canarc Reports High Grade Gold in Surface Rock Samples at Fondaway Canyon, Nevada
CA$ 0.26+0.00%Trend Power :
Havilah(Cu-Le-Zn)HAV.AX
Q A April 2017 Quarterly Report
AU$ 0.30-3.28%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$ 2.22+1.37%Trend Power :
Devon Energy(Ngas-Oil)DVN
Announces $340 Million of Non-Core Asset Sales
US$ 60.13-1.38%Trend Power :
Precision Drilling(Oil)PD-UN.TO
Announces 2017Second Quarter Financial Results
CA$ 8.66-0.35%Trend Power :
Terramin(Ag-Au-Cu)TZN.AX
2nd Quarter Report
AU$ 0.04+0.00%Trend Power :