Adex advances tin-indium-zinc project in New Brunswick

Adex Mining (ADE-V) has a new resource estimate for the North zone at its Mount Pleasant tin-indium-zinc project in Charlotte County, NB, about 80 km south of Fredericton.

The company took drilling information from seven tin-indium-zinc zones and one tungsten-molybdenum-bismuth subzone.

Indicated resources total 10.9 million tonnes grading 0.43% tin, 67.8 grams indium per tonne (64 grams per tonne capped), 0.67% zinc, 0.98% arsenic, 0.09% tungsten, 0.06% molybdenum, 0.11% copper, and 0.08% bismuth.

Inferred resources total 7.6 million tonnes grading 0.22% tin, 74.6 grams indium per tonne (72.3 grams capped), 0.99% zinc, 0.8% arsenic, 0.08% tungsten, 0.05% molybdenum, 0.09% copper and 0.05% bismuth.

The eight zones are spread across an area of 450 metres by 250 metres, with mineralization extending from surface to as deep as 450 metres. The shallowest zone extends to 70 metres depth.

The zones are located about 800 metres north of the tungsten-molybdenum Fire-Tower zone, which has an indicated resource of 13.5 million tonnes grading 0.33% tungsten and 0.21% molybdenum, plus 842,000 tonnes under the inferred category grading 0.26% tungsten and 0.20% molybdenum.

The company holds about 160 sq. km of mineral claims and 4 sq km of surface rights, including the existing structures of the past-producing Mount Pleasant mine.

Tin mineralization was found at the property in 1937 and since then companies have explored for tin-base metals deposits, tungsten-molybdenum bismuth deposits, porphyry tin deposits and now indium.

The Mount Pleasant tungsten mill, which was built in the early 1980s by Billiton Exploration Canada, processed 990,200 tonnes of tungsten ore grading an average of 0.35% between 1983 and 1985 when the mine closed due to low commodity prices.

Adex says the surface facilities are still in good condition. There is also an 1,100-metre decline, which is currently flooded, that was used to collect bulk samples in 1986 starting at the Fire Tower zone.

Adex shares were trading up 2¢ today at 10¢ apiece on a trading volume of 382,000 shares.