BRITISH COLUMBIA — Vancouver’s Adanac Molybdenum Corp. says the updated 43-101 report for its Ruby Creek moly deposit near Atlin puts measured and indicated resources at 275.4 million tonnes grading 0.067% Mo using a cufoff of 0.04% Mo. There is an additional inferred resource of 39.1 million tonnes grading 0.062% Mo.
Adanac president and CEO Christopher C. Kirby 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 feasibility study for the Ruby Creek project is complete, engineering studies are well underway, and long lead time equipment has been ordered.
The updated resource report was prepared by Golder Associates. It has been filed on www.Sedar.com and the Company’s website at www.AdanacMoly.com.