Adex Mining Inc. ("Adex" or the "Company") (TSX VENTURE: ADE) is
pleased to announce the remaining analytical results for the Phase
2 drilling program at the Mount Pleasant Mine Property in
southwestern New Brunswick, Canada. The results, for sampled core
from Holes AM-08-17 to AM-08-20 and Holes AM-08-40 to AM-08-47,
confirm that both the Deep Tin and North Adit sub-zones of the
property's tin-indium North Zone remain open laterally in multiple
directions.
"These results, indicative of significant near-surface and
at-depth mineralization, further underscore the significant
potential of the tin-indium areas of the Mount Pleasant Mine
Property," said Kabir Ahmed, President and CEO of Adex Mining. "In
addition, the completion of our 2008 drilling program is an
important milestone for us as we continue our fast-track approach
to moving the Mount Pleasant project to the feasibility stage of
mine development."
All of the holes are vertical with the exception of Hole
AM-08-44, which was drilled to the northeast at 45 degrees, and
Holes AM-08-42 and AM-08-43, which were drilled to the east at 60
and 45 degrees, respectively. Holes AM-08-17 to AM-08-20 and Holes
AM-08-44 to AM-08-47 were drilled to evaluate a known historical
surface exposure of tin-zinc-copper mineralization in the North
Zone named the #4 Tin Lode, drilled in the 1970s, and located 100
metres northeast of the North Adit sub-zone. Eight short,
closely-spaced holes covered the occurrence over a surface area of
55 by 40 metres. Summary results are as follows:
---------------------------------------------------------------------------
Hole From To Tin Indium Zinc Copper Arsenic
Identification (m) (m) (wt.%) (g/t) (wt.%) (wt.%) (wt.%)
---------------------------------------------------------------------------
AM-08-17 4 34 0.40 36 0.63 0.07 0.12
---------------------------------------------------------------------------
AM-08-18 2 46 1.11 242 2.88 0.37 0.45
---------------------------------------------------------------------------
AM-08-19 7 208 0.29 61 0.97 0.11 0.40
---------------------------------------------------------------------------
Including 7 55 0.73 134 1.52 0.19 0.35
---------------------------------------------------------------------------
AM-08-20 4 34 0.29 87 1.10 0.10 0.23
---------------------------------------------------------------------------
AM-08-44 5 83 0.33 112 1.23 0.14 0.23
---------------------------------------------------------------------------
AM-08-45 13 79 0.16 66 0.89 0.10 0.72
---------------------------------------------------------------------------
AM-08-46 10 46 0.31 96 1.31 0.10 0.31
---------------------------------------------------------------------------
AM-08-47 5 62 0.14 42 0.57 0.06 0.14
---------------------------------------------------------------------------
These results are particularly encouraging because Hole
AM-08-19, the only hole drilled below 100 metres, intersected
tin-indium-zinc-copper mineralization to a depth of greater than
200 metres. Results from Hole AM-08-45, collared 30 metres
northeast of AM-08-22, suggest the intersected mineralization
remains open laterally and extends below the surface to the
southwest towards the North Adit sub-zone. The results from Holes
AM-08-46 and AM-08-47 indicate the #4 Tin Lode remains open to the
north. These results are being assessed in conjunction with the
historical drill records in the continuing evaluation of the
lode.
Two drill holes tested a second known surface exposure of
tin-zinc-copper mineralization, historically named the Fire Tower
Breccia, located in the vicinity of the Fire Tower Zone. The
results are as follows:
---------------------------------------------------------------------------
Hole From To Tin Indium Zinc Copper Arsenic
Identification (m) (m) (wt.%) (g/t) (wt.%) (wt.%) (wt.%)
---------------------------------------------------------------------------
AM-08-42 14 68 0.13 55 1.57 0.20 0.73
---------------------------------------------------------------------------
AM-08-43 11 41 0.16 54 1.62 0.22 0.40
---------------------------------------------------------------------------
Subsequent to this drilling, the exposure has been trenched and
chip-sampled, with analytical results pending.
In addition, follow-up Holes AM-08-40A and AM-08-41 were drilled
50 metres west and north, respectively, of Hole AM-08-34 in the
Deep Tin sub-zone. Results are as follows:
---------------------------------------------------------------------------
Hole From To Tin Indium Zinc Copper Arsenic
Identification (m) (m) (wt.%) (g/t) (wt.%) (wt.%) (wt.%)
---------------------------------------------------------------------------
AM-08-40A 140 185 0.31 112 1.76 0.05 1.28
---------------------------------------------------------------------------
AM-08-41 14 74 0.14 64 0.95 0.05 0.39
---------------------------------------------------------------------------
The results from Hole AM-08-40A indicate the Deep Tin sub-zone
remains open to the west.
Future drilling will focus on enlarging these zones as well as
continuing to investigate the shallowly emplaced #4 Tin Lode and
its spatial relationship to the rest of the North Zone. The nature
of the geological setting of the Mount Pleasant mineralized bodies
hosted within and along the contacts of granite bodies and breccias
results in highly variable shapes and orientations of its zones.
Consequently, no estimation of true widths can be provided from
these results at this stage.
Besides the drilling exploration, an extensive program of
additional splitting and sampling of historical core is continuing,
as is the completion of missing indium analyses for sample pulps
and split core stored at the Mount Pleasant mine site. The aim of
this work is to better define the shape and extent of these bodies,
particularly at shallow depths.
The 2008 drilling program was completed as part of an ongoing
review of the Mount Pleasant Mine Property with the purpose of
completing an updated National Instrument 43-101 ("NI
43-101")-compliant evaluation of these resource bodies. Concurrent
with this drilling, a program of additional sampling and analysis
of core, pulps and rejects from historical holes located in the
vicinity of the 2008 drilling is ongoing. The results are being
compiled and incorporated into Adex's GEMCOM database of the North
Zone with the purpose of generating a NI 43-101-compliant deposit
model and resource estimate for the mineralized bodies.
Additional information concerning the Mount Pleasant Mine
Property is contained 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
www.sedar.com.
Quality Assurance/Quality Control
Adex Mining has implemented an industry standard QA/QC program.
Core is split in half using a hydraulic core splitter, sealed in
secure packages and shipped by bonded carrier to S.G.S.
Laboratories in Toronto for analysis using sodium peroxide fusion
with ICP-MS finish for indium and ICP-OES finish for tungsten,
molybdenum, tin, bismuth, arsenic, zinc, copper and lead. Samples
are also sent to Activation Laboratories in Ancaster, Ontario for
analyses by Fusion XRF for tin and tungsten, and sodium peroxide
fusion with either ICP-MS or ICP-OES finish for indium, molybdenum,
bismuth, arsenic, zinc, copper and lead. A pulp duplicate unknown
to the laboratory is submitted per batch of 10 samples and sent to
the alternate laboratory, while a polymetallic standard unknown to
the laboratory is included with each shipment of duplicate samples.
Both S.G.S. and Activation Laboratories fulfill standard QA/QC
protocols.
Qualified Person
The Mount Pleasant exploration program is being conducted under
the direction of Trevor Boyd, P.Geo., the company's independent
Geological Consultant and a qualified person as defined by National
Instrument 43-101. Mr. Boyd 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
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."
No securities commission or regulatory authority has approved or
disapproved the contents of this press release.
FORWARD-LOOKING STATEMENTS
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 www.sedar.com 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, except as required by law.
The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this press release.
Contacts: Adex Mining Inc. Kabir Ahmed President, Chief
Executive Officer and Director 1-866-508-2339 (ADEX) Email:
investorrelations@adexmining.com Website: www.adexmining.com
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