BRITISH COLUMBIA – KLOHN CRIPPEN has been awarded an $819,000 contract to conduct the environmental and socio-economic impact assessment work on ADANAC MOLY CORP.’s Ruby Creek porphyry molybdenum project. The report will be submitted to regulatory agencies by the end of this year. Klohn Crippen studied the site from 1978-80 for then-owner PLACER DEVELOPMENT and conducted field studies for Adanac in 2004.
Adanac intends to develop the Ruby Creek project near Atlin. Historically, the property is believed to host about 152 million tonnes of ore grading 0.063% Mo. AMEC PLC is completing an updated resource figure, and it should have the numbers by the end of March 2005. Adanac then hopes to complete the feasibility study within the next 12 months.
Adanac is the sole owner of the Ruby Creek property it first staked in 1967. It was worked by several companies until 1988, but the claims were later allowed to lapse. Adanac restaked the property in 2001.
See also www.AdanacMoly.com.