Adex Mining Reports Tin-Indium-Zinc Bulk Sample Results From Mount Pleasant
September 15 2009 - 9:27AM
Marketwired
Adex Mining Inc. ("Adex" or the "Company") (TSX VENTURE: ADE) is
pleased to provide an update on its evaluation of the North Zone
("NZ") at its wholly-owned Mount Pleasant Mine Property ("Mount
Pleasant" or the "Property") located in southwestern New Brunswick,
Canada. As discussed in its news release dated July 23, 2009, this
evaluation will support a 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 and a
production decision.
As part of this detailed evaluation program, a total of 162
tonnes of mineralized material was collected from rock previously
mined from the 600 Adit, which accessed the #1-3 Tin Lode Sub-Zone
of the NZ mineralization. The 162 tonnes were portioned into
separate bulk samples, crushed to 90% passing 0.5", and each pile
then randomly sampled. The largest pile, weighing 42 tonnes, was
double sampled and assayed.
The location and providence of the mineralized material is based
upon review of historical documentation associated with the
development of the 600 Adit during the 1960's and is supported by a
due diligence review and sampling of the dump mineralized material.
Analytical results from random sampling of the bulk samples are as
follows:
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Samples Comments % Sn g/t In % Zn % Cu % As
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Crushed Bulk Approx. Pile
Sample Material Size (tonnes)
#1 29 0.18 40 0.40 0.06 0.35
#2 18 0.61 183 2.22 0.27 1.43
#3 29 0.80 244 1.59 0.94 1.51
#4 32 1.02 427 2.26 0.54 1.05
#5 (sample 1) 42 0.61 239 1.18 0.83 1.21
#5 (sample 2) 0.48 183 0.89 0.66 0.97
#6 12 0.58 249 0.98 0.54 1.24
Weighted Average 0.62 228 1.37 0.55 1.07
Analytical results of the bulk sample showed metal grades in
excess of the grades that were reported for the Inferred Resource
estimate for the #1-3 Tin Lode Sub-Zone as reported in the National
Instrument 43-101 ("NI 43-101") compliant Technical Report (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 Watts, Griffis and McOuat Limited and Robert de
l'Etoile, Eng., Senior Geological Engineer of SGS-Geostat Limited,
which is available on SEDAR at www.sedar.com. The higher grades are
due to the fact that the mineralized material had originally been
mined from high-grade shoots within the #1-3 Tin Lode Sub-Zone.
The In concentrations reported are encouraging when compared to
the corresponding Zn and Sn values for these samples. Assaying of
historical drill core focused on In in the vicinity of the #1-3 Tin
Lode is currently underway with results pending.
The bulk samples will be utilized for detailed metallurgical
testing at an independent minerals laboratory. This work will be
undertaken shortly and will form the basis of the next phase in the
evaluation of a potential mining scenario for the NZ at Mount
Pleasant.
Quality Assurance/Quality Control
Adex Mining has implemented an industry standard QA/QC program.
Samples were sealed in secure packages and shipped by bonded
carrier 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.
Activation Laboratories fulfills standard QA/QC protocols.
Qualified Person
Trevor Boyd, P.Geo., the Company's Geological Consultant, a
qualified person as defined by NI 43-101, supervised the due
diligence sampling associated with the preparation of the bulk
samples and 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.
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) Email:
investorrelations@adexmining.com Website: www.adexmining.com
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