Adroit Updates Red Vein Volcanogenic Massive Sulphide (VMS) Property Grassy Lake Programmes
May 30 2011 - 12:02PM
Marketwired
Adroit Resources Inc. (TSX VENTURE: ADT)(FRANKFURT: A7V)(BERLIN:
A7V). Management is pleased to announce the receipt of a Mobile
Metal Ions (MMI-M) Process Soil Geochemical Survey report on the
Grassy Lake portion of the Red Vein Volcanogenic Massive Sulphide
(VMS) property and the receipt of assay results for 1,472 of its
1,535 samples from its winter diamond drill programme. The 9,664 ha
Red Vein property is located within the southern part of the
Abitibi greenstone belt in the Shining Tree area of northern
Ontario and is highly prospective for copper, zinc and gold. (See
News Releases dated December 6th and 20th, 2010 for further
reference).
President's Comments: 'I am very pleased with the contents of
the MMI Report. The report strengthens management's belief that
this property will yield a valuable commercial discovery. We have
multiple targets for Copper, Lead and Zinc plus Copper/Gold and
Copper/Palladium. The detection of a geochemical signature for
Platinum Group Mineralization has certainly come as an exciting
surprise. I am looking forward to the next drill programme with
great interest.'
The MMI-M Report dated May 19, 2011 was prepared by Mount Morgan
Resources Ltd. of Winnipeg, Manitoba. The executive summary is
reproduced below.
"The Red Vein MMI-M soil geochemical survey has successfully
demonstrated that MMI-M partial extractions on soil samples
collected from variable depths can isolate MMI-M precious and base
metal anomalies. Although the sampling depths were variable and the
B-Horizon was targeted as the preferred sample media potentially
important geochemical responses are present on the grid. Data
integration and field checking of the anomalous areas will assist
in determining follow-up targets.
There are two main types of commodity element responses on the
grid. Generally, these anomalies have the same element associations
but variable magnitudes of response. They include the group: (i)
Cu, Pb and Zn; and (ii) Cu-Pd/Cu-Au. The Cu-Pd and Cu-Au anomalies
are distinct and provide focused responses for further exploration.
The presence of a multi-sample Pd anomaly on the property is a
unique feature. The mobility of Pd in the secondary or surficial
environment is very low and as such any anomaly defined by an MMI-M
survey should be carefully field-checked to determine whether a
geological depositional environment favorable for platinum group
mineralization is present. There are a large number of
multi-element Cu and Zn anomalies on the property however the
property is marked by graphitic argillite or graphite-rich
sedimentary rocks. Accordingly, zinc-rich MMI-M anomalies
associated with these lithologies are interpreted as unattractive
follow-up exploration targets. The remainder of the anomalies
should be assessed separately.
Recommendations in the MMI-M report include a Phase Two sampling
programme be undertaken with a significant component of vertical
profile sampling. The Phase Two programme would attempt to
establish the difference in MMI geochemical signatures between
graphitic sedimentary rocks and non-graphitic targets. The
transects should be sampled at approximately 20 m spacing with
subsequent analysis by MMI-M. Comparisons between these new data
and the previous dataset will determine the validity of the Phase 1
through Phase 3 sampling programmes."
The MMI-M report was written by Mark Fedikow Ph.D. P.Eng. P.
Geo. C.P.G. Mark is a native of Windsor, Ontario where he graduated
with an Honours B.Sc. in Geology and a M.Sc. in geophysics and
geochemistry. Subsequently he received a Natural Sciences and
Engineering Research Council of Canada Scholarship and completed a
Ph.D. in Exploration Geochemistry at the School of Applied Geology,
University of New South Wales, Sydney, Australia. Mark has worked
for a variety of junior and major mining exploration companies and
for the Manitoba Geological Survey as Chief Geologist of the
Mineral Deposits Section. In 2001 he received the Provincial
Geologists gold medal, a Canadian national award for excellence in
the geosciences.
He currently consults to the mineral exploration industry and is
registered as P.Eng. and P.Geo. with the Association of
Professional Engineers and Geoscientists of Manitoba and as a
Certified Professional Geologist (C.P.G.) with the American
Institute of Professional Geologists, Westminster, Colorado,
U.S.A.
Winter Drill Programme Update. Based on assay results received
to date, the preliminary results confirm the presence of a VMS
system on the property. Coupled with valuable geological data from
our initial drill programme Adroit has significantly improved its
understanding of the controlling structures, stratigraphy and
potential for a valuable commercial discovery.
All 12 of the diamond drill holes of the 2010-11 winter drill
program consistently intersected numerous sizable mineralized
zones. The Company's February 28th, 2011 news release announced a
185 m section of massive sulphide mineralization with anomalous
values for zinc and copper; but no significant economic values for
zinc or copper were encountered over any discernable
intersections.
Work Progress. Additional MMI sampling is currently underway as
per the recommendations in the MMI report. The initial batch of new
samples has been submitted to SGS Mineral Services (Toronto,
Ontario) for analysis. These results will be incorporated, with all
of the existing geological data, to provide targets for the next
drill programme. Mount Morgan Resources has been engaged to write
the recommended integrated report and drilling is scheduled to
resume after receipt of the report.
The area has long been an area of intense interest, located in
the heart of the exploration triangle of the three large Ontario
mining camps of Timmins, (80 km due North), Sudbury, (150 km due
South), and Kirkland Lake (75 km Northeast). There are 30 VMS
deposits with over 200,000 tonnes of massive sulphide-type
mineralization within 200 km of the Red Vein property, including
Kidd Creek in Timmins with 147,880,000 tonnes grading 2.31% copper,
6.18% zinc and 87 g/t silver and the Horne, H&G Ore bodies in
Noranda with 53,700,000 tonnes grading 2.2% copper and 6.10 g/t
gold. There are numerous historical copper showings on the property
and gold showings abound in the surrounding area. The property is
located approximately 10 km north-west of the former Tyranite Gold
Mine and 8 km south of the Sothman nickel deposit (see News Release
dated October 6th, 2008).
Dr. Mehmet Taner, Eng., Ph.D. has verified and approved the
geological information contained in this news release. Dr. Taner
satisfies the requirements of a Qualified Person as defined in the
National Instrument 43-101 (Standards of Disclosure for Mineral
Projects).
Adroit Resources Inc. is a mineral exploration company that is
currently exploring for Antimony and other metals in Central Italy
and diamonds, precious and base metals in the Timmins/Shining
Tree/Temagami/Cobalt and Bancroft areas of Ontario, Canada. In
addition, Adroit is seeking new precious, base and strategic metal
projects to add to its expanding portfolio. The Company's issued
and outstanding share capital is 103,415,192.
On behalf of the Board of Directors
Graeme Rowland, Chairman and President
Note: The TSX Venture Exchange has not reviewed and does not
accept responsibility for the adequacy or accuracy of this
release.
Contacts: Adroit Resources Inc. Graeme Rowland Chairman and
President (604) 688-3304 info@adroitresources.ca
www.adroitresources.ca Blackwell (Corporate Advisor) (416) 364-3123
blackwell@tcn.net Pure Investor Relations (German IR - Corporate
Advisor) +49 (0)89 416175772 info@pure-ir.de
Adroit Resources Inc. (TSXV:ADT)
Historical Stock Chart
From Sep 2024 to Oct 2024
Adroit Resources Inc. (TSXV:ADT)
Historical Stock Chart
From Oct 2023 to Oct 2024