Adrian unveils more results from Petaquilla concession

Drilling by Adrian Resources (TSE) is expanding the Petaquilla concession west of Panama City.

To date, the company has drilled 77 holes in the Valle Grande deposit, which is estimated to contain more than 500 million tonnes of mineralized material. Along with copper grades, the material contains significant values of gold, silver and molybdenum.

In particular, the company is encouraged by drill results from the Valle Grande copper-gold-molybdenum porphyry deposit.

Highlights from the drill program are listed in the table below.

The role of Valle Grande in the development of the Petaquilla copper operation has changed since its discovery. It was first envisioned as a starter pit. However, its resource is now viewed as being potentially greater in size and value than the Botija deposit, which is also within the 136-sq.-km Petaquilla concession.

Three drills are working to expand and define the Valle Grande, and to outline higher-grade sections favorable for starter-pit mining. At present, five areas within the Valle Grande are being tested for starter-pit potential.

Teck (TSE) will earn half of Adrian’s 52% interest in the Petaquilla concession by funding a feasibility study, which is due before November, 1996. Inmet Mining (TSE) holds the remainder.

Hole Interval(ft.) Thickness(ft.) Copper(%)

293 176-312 135 0.52

639-659 20 0.68

294 536-551 14 0.52

607-651 44 0.97

299 173-256 83 1.35

374-630 256 0.89

660-885 225 0.60

302 44-192 192 0.56

586-689 103 0.62

709-792 83 0.60

304 139-267 128 0.98

305 262-425 163 0.69

306 624-806 182 0.84

312 512-561 49 0.71

581-835 254 0.80

315 95-125 30 1.11

316 59-133 74 0.71

330-423 93 0.67

468-566 98 0.74