Adriana Resources has reported all evaluation results from the diamond drill program at Lac Otelnuk iron project, Northern Quebec.
The company has drilled 40 holes perpendicularly aggregating 5,860 meters, of which 35 were in-fill holes that are drilled on a spread out grid pattern among the existing holes. In-fill drilling has been conducted to analyze the formation of iron continuously and to improve a part of the indicated mineral resource to a measured resource group. SGS Minerals Lakefield has tested 1,417 core samples and 58 surface samples that include quality assurance and control.
So far, the company has drilled 108 holes numbering 13,306 meters on south zone of the Lac Otelnuk iron formation. Watts, Griffis and McOuat prepared NI 43-101 technical report and resource estimate for the Lac Otelnuk deposit and Adriana filed the report on May 7, 2009. Based on the 2007 and 2008 drilling results, the resource estimate has reported an indicated mineral resource of 4.29 billion tons grading 29.08% T Fe, and an inferred resource of 1.97 billion tons grading 29.24% T Fe.
In addition, Adriana is conducting other technical work at the Lac Otelnuk project in 2010. This work includes commencement of geometallurgical framework study, bench scale metallurgical testing, environmental baseline monitoring, and the commissioning of an initial economic analysis study. Adriana is preparing for a widespread drilling program in 2011 and will begin immediately if the weather permits.
Source: http://www.adrianaresources.com/