Adex Mining has released new resource estimates for the North Zone tin-zinc-indium orebody at its Mount Pleasant project in New Brunswick, Canada, based on drilling work carried out in the last two years. However better than expected exploration results from the other main orebody at Mount Pleasant have resulted in a change of development strategy, delaying a possible start-up in tin production to beyond 2015. Adex will now give priority to bringing the tungsten-molybdenum-bismuth Fire Tower Zone into production.
The latest NI 43-101 resource estimate for the North Zone is for indicated and inferred resources of 15.2 million tonnes with an average tin grade of 0.37%, or 55,600 tonnes of contained tin. This is lower than previous estimated, although estimates of contained zinc and indium have increased significantly to 139,000 tonnes and 987 tonnes respectively.
“As our desire is to bring the Mount Pleasant Mine back into production as quickly and efficiently as possible, it is clear that focusing on the Fire Tower Zone is the best path forward,” said ADEX COO Patrick Merrin. “The geology, mining and metallurgy for the Fire Tower Zone are all well understood because it was previously mined by Billiton Exploration Canada back in the mid-80s. This also makes the Fire Tower Zone a lower risk project as we continue to better understand how to maximize value from the North Zone.”
