Adanac adds Mo moly to Ruby Creek estimates

2005-04-11 17:04 ET - News Release

Mr. Larry Reaugh reports

NI 43-101 RESOURCE ESTIMATE EXPANDS THE RUBY CREEK MOLYBDENUM DEPOSIT (MOLY @$33.50 (US)/lb)

Adanac Moly Corp. has released the results of an independent mineral resource estimate for the Ruby Creek molybdenum deposit located 22 kilometres northeast of Atlin, B.C. The estimate was prepared by independent geological and mining consultants, Amec Americas Ltd. Amec estimates that the Ruby Creek deposit contains:

A measured and indicated resource of 199.3 million tonne's grading 0.062 per cent molybdenum, with an additional inferred resource of 20.7 million tonne's grading 0.057 per cent molybdenum above a cut-off grade of 0.04 per cent molybdenum. Amec estimated the Ruby Creek resource by assigning grades to a three-dimensional block model with ordinary kriging. The data set used for the estimate consisted of composited assays obtained from diamond drill holes and a small amount of underground samples collected during a previous bulk sampling program.

The estimate has been classified into confidence categories based on the criteria outlined in the CIM standards on mineral resources and reserves, as required by the regulations in NI 43-101.

The resource estimate was completed under the direction of Steve Blower, PGeo, of Amec, an independent qualified person as defined by NI 43-101. A technical report detailing the resource estimate will be filed on www.sedar.com within 30 days. A summary of the mineral resource at the Ruby Creek deposit at various cut-off grades is tabulated below:

View More Press Releases

www.adanacmoly.com

Corporate Profile by Secular Bull

Interested in any future Private Placements with this company? Click here!