BRITISH COLUMBIA — Vancouver’s Adanac Molybdenum Corp. reports a 38% increase in contained molybdenum at its Ruby Creek pre-development project near Atlin.
At a cut-off grade of 0.04% Mo, the measured resource is estimated at 43.6 million tonnes at an average grade of 0.078% Mo (with 75.4 million lb of contained Mo) and indicated resources of 231.7 million tonnes at an average grade of 0.065% Mo (with 332.6 million lb of contained Mo). There is also an inferred resource of 39.1 million tonnes at an average grade of 0.062% Mo (with 53.7 million lb of contained Mo).
The April 2009 estimate was prepared by Golder Associates in accordance with 43-101 guidelines.
Adanac said the Ruby Creek project is ready to enter the final approval stage for its tailings impoundment area, following the completion of the federal environmental review. Fisheries and Oceans Canada and Environment Canada are expected to approve the tailings plan by the end of this year. When it is received, mining can begin.
Read updates on the project at www.AdanacMoly.com.