| | Published : May 29th, 2009 | Releases Updated 2009 NI 43-101 Mineral Resource Report for Ruby Creek |
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Adanac Releases Updated 2009 NI 43-101 Mineral
Resource Report for Ruby Creek
May 29, 2009 - Vancouver,
British Columbia.
Adanac Molybdenum
Corporation (�Adanac� or the �Company�, - TSX: AUA, Pink
Sheets: AUAYF, Frankfurt: A9N) announced today that it has received the final
2009 updated National Instrument 43-101 (�NI 43-101�) Mineral Resource
Technical Report (the �April 2009 Mineral Resource Report�) for its 100%-owned
Ruby Creek molybdenum deposit located in northern British Columbia, Canada (the
�Ruby Creek Project�). The April 2009 Mineral Resource Report
was independently prepared by Golder Associates Ltd.
(�Golder�).
A summary of the April 2009
Mineral Resource Report was provided by the Company in its news release dated
April 15, 2009, and as reported at that time, the current estimated total of
both Measured and Indicated Resource categories, at a cut-off grade of 0.04%
molybdenum (�Mo�), is 275.4 million tonnes grading 0.067% Mo and an Inferred
Mineral Resource of 39.1 million tonnes grading 0.062% Mo.
The contained Mo (lbs.) are in situ and have no mill
recovery factors applied to them.
Christopher C. Kirby,
President and Chief Executive Officer, said, �The April 2009 resource estimate
and 3-D model indicates the presence of high-grade mineralization at depth at
the west end which is very promising as there appears to be room to grow at
depth at the head of the Ruby Creek valley.�
The April 2009 Mineral
Resource Report is summarized at various cut-off grades in the following table:
Resource Category
|
Cut-off (Mo%)
|
Quantity (tonnes)
|
Mo (%)
|
Contained Mo (lbs)
|
Measured
|
0.02
0.03
0.04
0.05
0.06
0.07
0.08
0.09
0.10
|
54,055,000
48,676,000
43,642,000
36,978,000
30,273,000
23,377,000
17,075,000
11,711,000
8,228,000
|
0.069
0.074
0.078
0.084
0.091
0.098
0.107
0.117
0.127
|
82,209,000
79,263,000
75,361,000
68,734,000
60,626,000
50,733,000
40,342,000
30,303,000
23,037,000
|
Indicated
|
0.02
0.03
0.04
0.05
0.06
0.07
0.08
0.09
0.10
|
437,348,000
278,313,000
231,712,000
174,643,000
117,696,000
71,669,000
42,546,000
24,127,000
14,114,000
|
0.047
0.060
0.065
0.072
0.080
0.089
0.100
0.111
0.122
|
451,659,000
368,503,000
332,550,000
275,839,000
206,897,000
141,157,000
93,329,000
58,975,000
38,101,000
|
Total
Measured and Indicated
|
0.02
0.03
0.04
0.05
0.06
0.07
0.08
0.09
0.10
|
491,403,000
326,989,000
275,354,000
211,621,000
147,969,000
95,046,000
59,621,000
35,838,000
22,342,000
|
0.049
0.062
0.067
0.074
0.082
0.092
0.102
0.113
0.124
|
533,868,000
447,766,000
407,911,000
344,573,000
267,523,000
191,890,000
133,671,000
89,278,000
61,138,000
|
Inferred
|
0.02
0.03
0.04
0.05
0.06
0.07
0.08
0.09
0.10
|
299,478,000
78,232,000
39,076,000
25,781,000
17,533,000
10,437,000
5,460,000
3,180,000
2,142,000
|
0.030
0.048
0.062
0.072
0.080
0.090
0.103
0.117
0.128
|
196,082,000
83,147,000
53,719,000
40,701,000
30,746,000
20,608,000
12,451,000
8,206,000
6,048,000
|
Mr. Kevin Palmer, P. Geo., of
Golder, is an independent Qualified Person within the
meaning of NI 43-101 Standards of Disclosure for Mineral Projects. Mr. Palmer
is responsible for the April 2009 Mineral Resource Report and has reviewed the
technical disclosures in this news release.
The new updated April 2009
Mineral Resource Report has been filed on www.sedar.com
and the Company�s website at www.adanacmoly.com.
About Adanac Molybdenum
Corporation
Adanac Molybdenum Corporation is an exploration
and development mining company listed on the TSX and Frankfurt
exchanges. The Company�s principal asset is its 100%-owned Ruby Creek open-pit
molybdenum mine project located in northern British
Columbia, Canada.
The Company has advanced the project through feasibility studies, a production
decision and has previously ordered long-lead equipment, completed permitting
for construction, constructed a road to the site and secured US$80 million in
bridge financing.
Information Contact
Christopher C. Kirby �
President and Chief Executive Officer
Telephone: (604) 535-6834 Facsimile: (604) 536-8411
Email: info@adanacmoly.com
Cautionary Notice: The Reader is cautioned that the full
Cautionary Notice is not attached to this email. The reader is requested to
access the news release on the Company�s website at www.adanacmoly.com
or at SEDAR at www.sedar.com
to read the full Cautionary Notice. The full Cautionary Notice is not attached
as the recipient�s spam filters frequently block receiving emails containing
the full Cautionary Notice.
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VanEck Vectors Global Alternative Energy ETF
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DEVELOPMENT STAGE |
CODE : AUA.TO |
ISIN : CA00652E5065 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Adanac Molybdenum is based in Canada. Adanac Molybdenum develops copper and molybdenum in Canada, and holds various exploration projects in Canada. Its main asset in development is RUBY CREEK in Canada and its main exploration properties are B&C SPRINGS/ NEVADA BC, CUCOMUNGO and PINE NUT in Canada. Adanac Molybdenum is listed in Canada, in Germany and in United States of America. Its market capitalisation is 10.0 millions as of today (US$ 9.6 millions, € 7.4 millions). Its stock quote reached its lowest recent point on April 09, 2009 at 0.02, and its highest recent level on March 04, 2011 at 9.00. Adanac Molybdenum has 47 442 200 shares outstanding. |
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