Adroit Resources Stakes an Additional 37 New Claims (93.6 km2) to Nursey Lake on the Larder Lake Break, Timmins South Mining ...
27 6월 2012 - 3:25AM
Marketwired Canada
Adroit Resources Inc. (TSX VENTURE:ADT)(FRANKFURT:A7V)(BERLIN:A7V) stakes an
additional 37 new claims (93.6 km2) to its Nursey Lake Property, Larder Lake
Break, Timmins South Mining Camp, Ontario.
Management is pleased to announce the acquisition of thirty-seven new claims
(585 claim units) located in Moher and Semple Townships. The claims are located
to the northwest of Adroit's expansive 190 km2 Red Vein Property (see map below)
and adds to the Company's growing property portfolio in this under-explored part
of the Abitibi Greenstone Belt in Ontario. The new claims extend the Nursey Lake
Property to over 169.9 km2 located in Nursey, Burrows, Semple and Moher
Townships.
"Along with Halliday Lake and the Red Vein properties, we now have over 386 km2
in a very prospective area. We believe our geological model has been validated
by the discoveries of SGX Resources and others in area. These properties are in
the centre of one of the worlds' most prolific mining areas, situated in the
triangle between the established mining camps of Timmins, Sudbury and Kirkland
Lake, where more than 170 million ounces of gold and 200 million tons of base
metals have been mined," said Adroit Resources President, Graeme Rowland.
Adroit Resources' Nursey Lake property in the north is bound to the east by the
Nebu Resources Cork Lake property and is approximately 3 km from SGX's Edelston
Zone (February 23, 2012 SGX Resources Press Release). SGX reported intersecting
65m of 1.82 g/t gold hosted within a silicified and sheared ultramafic volcanic
rock with 3-5% pyrite, rare chalcopyrite and visible gold. This zone has now
been traced for 900m in a northeast-southwest trend and is the focus of an
active drill program. In the south, the Nursey Lake property is less than 1 km
from Transition Metals' Jumping Moose property, where a 26 tonne boulder assayed
1,245 grams per tonne gold. Studies suggest maximum glacial displacement for the
boulder of only 500m from its source. Follow-up exploration indicates the
boulder likely originated from a well-mineralized high-grade vein system
developed within the Larder-Cadillac fault system that is present on the
property. This vein system contains the Tittley gold-silver-tellurium vein
showing which had reported assay results of 71.9-98.2 grams per tonne gold and
0.5% tellurium.
To view the Company's South Timmins/Shining Tree areas map please click on the
following link to the Company's website:
http://adroitresources.ca/wp-content/uploads/2012/05/200612_Pressrelease_June25_redo.jpg
Mark Fedikow, Ph.D., P.Eng., P.Geo., C.P.G., has verified and approved the
geoscientific information contained in this news release. Dr. Fedikow is a
Qualified Person as defined in National Instrument 43-101 (Standards of
Disclosure for Mineral Projects).
Shares for Debt for $440,400.92. Management is pleased to report that on June
19, 2012 the TSX Venture Exchange accepted for the Company's Shares for Debt
application to settle debts totaling $440,400.92 by issuing 8,808,018 common
shares at a price of $0.05 per share. The Company's January 6 and May 22, 2012
news releases refer.
Included in this settlement is $395,631 owed under Loan and Purchase Agreements
entered into by former management on October 12, 1999 with a private company and
its shareholders to fund legal costs associated with litigation commenced
against the B.C. Government for the expropriation of the Company's Amber mineral
claims in 1995.
Subsequent to the Company entering into the Loan and Purchase Agreements, a
director of the private company became a director and senior officer of the
Company. That director has become the beneficial owner of 2,576,220 common
shares on completion of the debt settlement. All shares issued pursuant to the
debt settlement are subject to a four month hold period.
Adroit Resources Inc. is a mineral exploration company that is currently
exploring for antimony, gold and silver in Central Italy and precious and base
metals in the Timmins South/Shining Tree/Temagami/Cobalt and Bancroft areas of
Ontario, Canada. The Company currently has 154,703,209 shares issued and
outstanding, inclusive of the above noted debt settlement.
On behalf of the Board of Directors,
Graeme Rowland, Chairman and President
Adroit Resources Inc. (TSXV:ADT)
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