Adex Mining Inc.

Published : July 23rd, 2009

targets tin-indium deposits for detailed evaluation at Mount Pleasant

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Re: Adex Mining targets tin-indium deposits for detailed evaluation at Mount Pleasant.

 

Adex Mining Inc. (TSX-V: ADE) today provided an update on its development plan for the North Zone ("NZ") at it wholly-owned Mount Pleasant Mine Property in southwestern New Brunswick, Canada (Mount Pleasant or the Property).  The development plan has been designed to assess a low-cost, moderate-tonnage mining and processing operation to produce marketable tin, indium and zinc products from the NZ.  Several of the activities included in the plan are currently underway, including wastewater treatment system design, bulk sampling, and resampling for indium analysis of historical core.  The plan also includes hydrometallurgical flow-sheet development for tin and indium and a mine development plan. These activities will support a NZ scoping study, which is underway and scheduled for completion in late 2009.  A positive result from this scoping study is expected to lead to the preparation of a definitive feasibility study proposed for completion in 2010. Adex currently has sufficient financial resources to complete this development work, including the definitive feasibility study.

 

In the fourth quarter of 2009, Adex plans to conduct a 1,200-metre diamond drilling program and sample historical core to better delineate individual high-grade mineralization shoots and to upgrade its inferred NZ results to the NI 43-101 indicated category.

 

A copy of the complete press release is included below for your reference.

 

Please do not hesitate to contact me with any questions or for additional information about Adex Mining.

 

Sincerely,

 

Adam Bello

Investor Relations

Primoris Group Inc.

Tel.: (416) 489-0092 * 1 (866) 508-2339 x 226

Fax: (416) 352-5239

E-mail: abello@primorisgroup.com

 


ADEX MINING TARGETS TIN-INDIUM DEPOSITS FOR DETAILED EVALUATION AT MOUNT PLEASANT

 

Toronto July 23, 2009  Adex Mining Inc. (Adex or the Company) (TSX-V: ADE) is pleased to provide an update on its development plan for the North Zone (NZ) at its wholly-owned Mount Pleasant Mine Property in southwestern New Brunswick, Canada (Mount Pleasant or the Property). The development plan includes bulk sampling, hydrometallurgical flow sheet development for tin and indium, the development of a waste water treatment process and a mine development plan. These activities will support a NZ scoping study expected to be completed in late 2009. A positive result from this scoping study is expected to lead to the preparation of a definitive feasibility study proposed for completion in 2010. Adex currently has sufficient financial resources to complete this development work, including the definitive feasibility study.

 

The scoping study, wastewater treatment system design, collection of the bulk samples for bench and pilot plant work, and re-sampling for indium analysis of historical core are currently underway at Mount Pleasant.

 

A National Instrument 43-101 (NI 43-101) compliant Technical Report (the NZ Technical Report) was completed by Watts, Griffis and McOuat Limited (WGM), Consulting Geologists and Engineers, and SGS-Geostat Limited (SGS), in May, 2009. The NZ 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, 2009 and completed by Paul Dunbar, P.Geo. Senior Associate Geologist of WGM and Robert de l’Etoile, Eng. Senior Geological Engineer of SGS, is available on SEDAR at www.sedar.com. The NZ Technical Report recommends that Adex complete an economic evaluation of both the surface-exposed and near-surface zones of tin-indium-zinc (Sn-In-Zn) mineralization in the NZ. The report also recommends bulk sampling and pilot plant testing in order to define optimal mineral recovery processes, as well as opening the existing 600 adit to provide access to the near surface deposits.

 

On the basis of the recommendations in the NZ Technical Report, Adex management has designed a development program that will assess a low cost, moderate tonnage mining and processing operation to produce marketable Sn, In, and Zn products from the NZ.

 

The NZ Technical Report includes a Sn-In-Zn resource estimate for the NZ which consists of an Indicated Mineral Resource of 10,882,000 tonnes plus an Inferred Mineral Resource of 7,603,000 tonnes.  Details of this NI 43-101 compliant mineral resource estimate are as follows.


 

NORTH ZONE - MINERAL RESOURCE ESTIMATE, MOUNT PLEASANT PROPERTY

 

Sub-Zones

Tonnes

% Sn

g/t In

g/t In (Capped)

% Zn

% As

%WO3

 

%MoS2

 

% Cu

 

% Bi

 

Indicated

 

 

 

 

 

 

 

 

 

 

Deep Tin

 5,006,000

 0.39

101.0

95.2

0.86

1.25

0.08

0.06

0.14

0.08

 

Endogranitic

4,336,000

 

 0.55

 

 21.8

 

20.3

 

0.28

 

0.85

0.12

0.06

0.10

0.09

 

Upper Deep Tin

838,000

 

0.22

 

102.8

94.9

1.36

0.76

0.08

0.06

0.07

0.05

#4 Tin Lode

     702,000

 0.25

  74.1

74.1

1.00

0.19

0.01

0.01

0.09

0.00

 

Total Indicated

10,882,000

 

 

0.43

 

 

 67.8

 

 

64.0

 

 

0.67

 

 

0.98

0.09

0.06

0.11

0.08

 

 

 

 

 

 

 

 

 

 

 

Inferred

 

 

 

 

 

 

 

 

 

 

#1-3 Tin Lode

  2,345,000

 0.18

  76.8

  73.5

1.08

0.28

0.02

0.03

0.09

0.01

#5 Tin Lode

  1,267,000

 0.15

115.4

111.3

1.50

0.70

0.07

0.04

0.08

0.03

North Adit

  3,076,000

 0.27

  62.1

  62.1

0.83

1.16

0.09

0.06

0.09

0.07

North W-Mo

     915,000

 0.26

  54.3

  49.8

0.58

1.14

0.25

0.12

0.12

0.10

 

Total

Inferred

 

 

7,603,000

 

 

0.22

 

 

74.6

 

 

72.3

 

 

0.99

 

 

0.80

 

 

0.08

 

 

0.05

 

 

0.09

 

 

0.05

 

 

High grade portions of the near surface #1-3 Sn lode and #4 Sn lode are the targets of the proposed development plan.

 

A 1,200 metre diamond drill program, along with sampling of historical core, is also planned for the fourth quarter of 2009 to better delineate individual high grade mineralized shoots and to upgrade the #1-3 Sn lode deposit to NI 43-101 indicated category.  The #4 Sn lode which is expected to be mined during the initial five years of operation under the proposed development plan, falls into the NI 43-101 indicated category.

 

Adex has retained Thibault & Associates Inc. to develop the hydrometallurgical flow-sheets for the production of marketable Sn and In products which may have direct applications in the electronics industry (i.e. Sn-In oxide powders).  Flowsheet development will be carried out concurrently with the scoping study.

 

Pilot plant test work will use a bulk sample from the 600 adit which was explored extensively during the 1960s and which includes approximately 1,000 metres of drifting, cross-cuts and raises.  Preparation for the bulk sample collection is currently in progress at the 600 adit.

 

A sustainable wastewater treatment (WWT) process is being developed that could serve commercial operations associated with the NZ and operations associated with the potential re-start of production at the tungsten and molybdenum Fire Tower Zone (FTZ).  The FTZ is the site of a former tungsten-molybdenum mine which produced tungsten concentrate during the 1980s.  Thibault & Associates Inc. has designed and commissioned environmentally friendly industrial WWT plants throughout Atlantic Canada.

 

A NI 43-101-compliant technical report on the FTZ (the FTZ Technical Report) entitled A Technical Review of the Mount Pleasant Property, Including an updated Mineral Resource Estimate on the Fire Tower Zone, Southwestern New Brunswick for ADEX Mining Inc. dated December 1, 2008 and completed by Paul Dunbar, M.Sc., P.Geo. Senior Associate Geologist of WGM, Dorota A. El-Rassi, M.Sc., P.Eng., Geological Engineer of SRK Consulting and John S. Rogers, P.Eng., of Aker Metals, a division of Aker Solutions Canada Inc., is available on www.SEDAR.com.

 

Qualified Person

 

Trevor Boyd, P.Geo., the Company’s Geological Consultant, and Mr. J. Dean Thibault, M.Sc., P.Eng., of Thibault & Associates Inc., are qualified persons as defined by National Instrument 43-101 (?NI 43-101?) and  supervised the preparation of the technical information contained in this Press Release in compliance with NI 43-101.

 

ABOUT ADEX:

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, the Mount Pleasant Mine Property 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.Technical materials relating to Adex’s Mount Pleasant property is available on SEDAR at www.sedar.com.

 

 

FOR FURTHER INFORMATION PLEASE CONTACT:

 

J. Errol Farr, CMA

President, Chief Executive Officer and Director

Adex Mining Inc.

1-866-508-2339 (ADEX)

Email: investorrelations@adexmining.com

Website: www.adexmining.com 

 

Adex Mining Inc.

EXPLORATION STAGE
CODE : ADE.V
ISIN : CA0069032070
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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.

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