Adex Announces Lab Scale Production of Indium
January 12 2010 - 10:51AM
Marketwired
Adex Mining Inc. ("Adex" or the "Company") (TSX VENTURE: ADE) is
pleased to announce it has successfully developed a process for the
production of a high purity indium at its Mount Pleasant Mine
Property ("Mount Pleasant" or the "Property"), located in
southwestern New Brunswick Canada.
Adex overcame a major hurdle at the close of 2009 by producing
the first few grams of indium in its bench scale hydrometallurgical
process (the "hydromet process") development program. "I am very
optimistic," stated Errol Farr, Adex President and CEO. "It doesn't
seem like much when you hold it in your hand, but this little
nugget sized piece of indium represents the promise of Adex's
success at Mount Pleasant. The potential to produce and direct
market a high grade indium product would put Adex in a unique
position amongst junior mining companies."
The bench scale process development work completed to date
indicates that the unique hydromet process technology is capable of
producing indium in excess of 88% purity. Bench scale optimization
of process chemistry to confirm design parameters for the hydromet
pilot plant testwork is ongoing.
The hydromet process, developed by Thibault & Associates
Inc. of Fredericton, an Adex consultant, involves leaching base
metal sulphide concentrate containing approximately 4500 ppm indium
and recovering the indium and zinc through a series of solvent
extraction and solution purification processes. Adex is considering
patent applications with respect to certain aspects of this
hydromet process technology.
Indium production potential at Mount Pleasant is about 40 tonnes
per year ("tpy") based on processing 850 tpd of mill feed. Adex is
considering two commercial production scenarios for Mount Pleasant.
Under the tin concentrate, indium and zinc metal production model,
there is also potential to produce about 4,000 tonnes of zinc metal
and 3,200 tonnes of tin concentrate per year from the North Zone
("NZ"). Under the tin concentrate and zinc-indium concentrate
production model, there is potential to produce about 8,500 tonnes
of indium rich zinc concentrate and 3200 tonnes of tin concentrate
from the NZ.
With successful scoping/preliminary economic studies behind it
as disclosed in the Company's press release dated January 7, 2010,
the Company is now focused on piloting indium-zinc concentrate and
tin concentrate production and on piloting its innovative hydromet
process to produce indium and zinc metal. Successful pilot test
programs will lead to a definitive feasibility study. Positive
results from the definitive feasibility study will lead to
applications for necessary regulatory approvals and efforts to
secure financing to fund engineering, equipment purchase and
construction, resulting finally in production.
Adex believes it will be well positioned to begin mine
development and process equipment purchase and installation
assuming positive results from its definitive feasibility study,
government regulatory approvals and project financing by early
2011. Concentrator production is targeted for October/November
2011.
In addition to the tin-indium-zinc-copper bearing NZ, Mount
Pleasant hosts the tungsten-molybdenum bearing Fire Tower Zone
("FTZ"). The FTZ is the site of a tungsten-molybdenum underground
mining operation that was only in production between 1983 and
1985.
Mineral resources that are not mineral reserves do not have
demonstrated economic viability
Dean Thibault, P. Eng., Senior Process Chemical Engineer of
Thibault & Associates Inc., a consultant to Adex and an
independent qualified person as defined by National Instrument
43-101 ("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-mineral 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 and business information regarding
Adex's Mount Pleasant property is available on SEDAR at
www.sedar.com and the Company's website at www.adexmining.com.
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.
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
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