Adex Mining Announces the Commencement of Drilling on Mount Pleasant Property
October 28 2010 - 8:20AM
Marketwired
Adex Mining Inc. ("Adex" or the "Company") (TSX VENTURE: ADE) is
pleased to provide an update on its development activities at its
wholly-owned Mount Pleasant Mine Property ("Mount Pleasant" or the
"Property"), located in south-western New Brunswick, Canada. The
Property includes two potentially economic mineral deposits, the
tin-indium-zinc ("Sn-In-Zn") North Zone and the tungsten-molybdenum
("W - Mo") Fire Tower Zone.
Adex has commenced a 3,500 metre diamond drilling program on the
property with the arrival of the first of two drill rigs to be used
for its fall drilling program. The program will focus on targets in
the North Zone in order to upgrade the inferred resources in the
deposit to the 43-101 "indicated" category. The total Sn-In-Zn
43-101 resource estimate presently includes an "indicated" resource
of 10,882,700 tonnes grading 0.43% Sn, 67.8 g/t In and 0.67% Zn
plus an "inferred" resource of 7,602,800 tonnes grading 0.22% Sn,
74.6 g/t In and 0.99% Zn. The work is being conducted by Adex in
conjunction with an upcoming definitive feasibility study of the
North Zone.
Details of the North Zone resource estimate are compiled in the
National Instrument 43-101 ("NI 43-101") compliant 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 Watts, Griffis and McOuat Limited, Consulting
Geologists and Engineers, and SGS-Geostat Limited, which is
available on SEDAR at www.sedar.com. Trevor Boyd, P.Geo., the
Company's Geological Consultant and a qualified person as defined
by NI 43-101, 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 80 kilometres south of Fredericton,
the provincial capital, and 65 kilometres from the United States
border. The common shares of Adex trade on the TSX Venture Exchange
under the stock symbol "ADE".
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.
No securities commission or regulatory authority has approved or
disapproved the contents of this press release.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Adex Mining Inc. J. Errol Farr, CMA President, Chief
Executive Officer and Director 1-866-508-2339 (ADEX)
investorrelations@adexmining.com www.adexmining.com
Adex Mining (TSXV:ADE)
Historical Stock Chart
From Oct 2024 to Nov 2024
Adex Mining (TSXV:ADE)
Historical Stock Chart
From Nov 2023 to Nov 2024