Adex Mining Inc. ("Adex" or the "Company") (TSX VENTURE: ADE) is
pleased to announce the completion of its 2010 diamond drilling
program on the tin-indium-zinc North Zone at the Mount Pleasant
Mine Property in southwestern New Brunswick, Canada and the return
of preliminary analytical results.
The purpose of the program was primarily to upgrade the North
Zone National Instrument 43-101 ("NI 43-101") compliant "inferred"
resources to "indicated" category and to obtain roof pillar
geotechnical information in support of the planned definitive
feasibility study for commercial development of the North Zone. The
drilling was also intended to test and expand those high grade
portions of the sub-zones identified at less than 250 metres depth.
In total, 3,734 metres of drilling was completed in 26 NQ holes.
Fifteen of the holes are vertical with the remainder oriented in
various directions from 41 to 75 degrees dip.
Despite the definition drilling purpose of the program, exciting
new exploration results are being generated. Hole AM-10-10, drilled
in an underexplored part of the North Zone, intersected four metres
of 4.67% tin ("Sn"), 14.5% zinc ("Zn"), 980 g/t indium ("In") and
0.56% copper ("Cu") beneath a historical hole which in the 1970s
had intersected 41 metres of 4.08% Zn and 0.10% Sn. No indium
analyses had been completed on core from the historical hole. The
intersection suggests the discovery of a new-high grade sub-zone
open both laterally and at depth. A follow-up hole has been
completed up-dip from the historical hole with analytical results
pending.
Other highlighted results are from Hole AM-10-18 which was
drilled to test the southeastern extension of the Deep Tin Zone.
Drilling intersected high grade mineralization of six metres
grading 1.74% Sn, 7.01% Zn, 520 g/t In and 0.21% Cu. Hole AM-10-20
was drilled 15 metres to the west of a high grade intersection
encountered in Hole AM-08-03 (0.27% Sn, 9.08% Zn, 1,920 g/t In and
1.22% Cu over 18 metres announced July, 2008) and returned two
intersections of six metres each grading 0.49% Sn, 9.42% Zn, 212
g/t In and 0.46% Cu, and 0.26% Sn, 10.5% Zn, 1,860 g/t In and 0.91%
Cu. In addition, Hole AM-10-13 which was drilled to test the
southern extension of the North Adit Zone intersected nine metres
of 1.62% Sn, 0.43% Zn, 121 g/t In and 0.59% Cu. Preliminary
drilling results are tabulated below.
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Hole
Identifica- From To Length Tin Indium Zinc Copper Bismuth Arsenic
tion (m) (m) (m) (wt.%) (g/t) (wt.%) (wt.%) (wt%) (wt.%)
----------------------------------------------------------------------------
AM-10-01 153 159 6 0.14 177 1.87 0.08 0.18 3.49
----------------------------------------------------------------------------
222 228 6 0.34 136 0.78 0.26 0.04 2.12
----------------------------------------------------------------------------
AM-10-04 22 28 6 0.13 160 5.99 0.17 0.03 1.14
----------------------------------------------------------------------------
40 64 24 0.47 69 1.77 0.08 0.01 0.84
----------------------------------------------------------------------------
AM-10-05 31 49 18 0.22 60 2.46 0.05 0.02 0.78
----------------------------------------------------------------------------
AM-10-06 45 54 9 0.15 60 0.33 0.24 0.03 0.294
----------------------------------------------------------------------------
AM-10-07 117 123 6 0.97 11 0.02 0.01 0.05 1.91
----------------------------------------------------------------------------
AM-10-08 96 102 6 0.24 118 0.89 0.12 0.02 0.29
----------------------------------------------------------------------------
AM-10-10 110 114 4 4.67 984 14.5 0.56 0.83 3.88
----------------------------------------------------------------------------
AM-10-11 138 159 21 0.35 4 0.04 0.02 0.07 0.81
----------------------------------------------------------------------------
AM-10-12 67 90 23 0.52 67 0.39 0.22 0.04 1.16
----------------------------------------------------------------------------
AM-10-13 135 162 27 0.79 50 0.19 0.23 0.09 1.38
----------------------------------------------------------------------------
Including 138 147 9 1.63 121 0.43 0.59 0.19 2.74
----------------------------------------------------------------------------
AM-10-14 75 88.5 13.5 0.76 89 0.13 0.37 0.04 2.68
----------------------------------------------------------------------------
AM-10-16 112 118 6 0.44 753 6.50 0.40 0.07 1.85
----------------------------------------------------------------------------
AM-10-18 91 97 6 0.24 117 2.12 0.25 0.05 0.89
----------------------------------------------------------------------------
202 208 6 1.74 520 7.01 0.21 0.03 0.36
----------------------------------------------------------------------------
AM-10-20 111 117 6 0.49 212 9.42 0.46 0.02 0.9
----------------------------------------------------------------------------
183 189 6 0.26 1,860 10.5 0.91 0.08 2.08
----------------------------------------------------------------------------
AM-10-21 90 111 21 0.17 139 3.61 0.15 0.07 3.00
----------------------------------------------------------------------------
123 129 6 0.21 241 3.70 0.06 0.04 2.45
----------------------------------------------------------------------------
AM-10-22 60 65 5 0.17 235 2.12 0.31 0.01 0.64
----------------------------------------------------------------------------
AM-10-23 50 68 18 0.16 280 1.65 0.12 0.03 0.79
----------------------------------------------------------------------------
AM-10-24 60 69 9 0.22 103 2.92 0.06 0.02 2.97
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Nearly all of the drill holes to-date have intersected
significant grades and widths of Sn-In-Zn mineralization. Due to
the variable thickness and sinuous character of the mineralized
bodies that make up the North Zone, no assessment of true thickness
can be estimated from these individual intersections at this time.
Holes AM-10-02, AM-10-03 and AM-10-26 were drilled for geotechnical
assessment purposes and no core samples for assay were obtained.
Analytical results remain pending for holes AM-10-15, AM-10-17,
AM-10-19 and AM-10-25.
Concurrent with this drilling, a program of surface trenching,
and additional sampling and analysis of core from historical holes
located in the vicinity of the 2010 drilling has been completed.
The results are being compiled and incorporated into Adex's GEMCOM
database of the North Zone with the purpose of revising and
upgrading an NI 43-101 compliant deposit model and resource
estimate for the mineralized bodies.
The total North Zone 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 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.
Quality Assurance/Quality Control
Adex has implemented an industry standard QA/QC program. Core is
split in half using a hydraulic core splitter, sealed in secure
packages and transported directly by Adex personnel to the
Activation Laboratories preparation facility in Fredericton, New
Brunswick. Pulps are sent by bonded carrier from the facility 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 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. A
polymetallic standard unknown to the laboratory is included with
each batch 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."
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.
The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this press release.
Contacts: Adex Mining Inc. Errol Farr, CMA President, Chief
Executive Officer and Director 1-866-508-2339 (ADEX)
investorrelations@adexmining.com www.adexmining.com
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