Adriana Announces Commencement of 2010 Exploration Program to Increase and Upgrade Resources at Lac Otelnuk Property in Quebec
TORONTO, ONTARIO--(Marketwire - June 8, 2010) - Adriana Resources Inc. ("Adriana" or the "Company") - (TSX VENTURE:ADI) announces that it has commenced drilling as part of its 2010 exploration program to increase and upgrade mineral resources on its Lac Otelnuk world-class iron ore deposit located in the Labrador Trough, Nunavik Quebec.
The Company currently has 20 employees/consultants on site and two diamond drills. Over the last few weeks, the Company has completed 1 and 5 meter contour topographic mapping in the North Zone and other areas where drilling is proposed for the season.
The Company plans to complete a diamond drilling program on the North Zone designed to test the entire stratigraphy of the drilled zone and define a National Instrument 43-101 ("NI 43-101") compliant mineral resource estimate for the North Zone.
The Company also plans further diamond drilling on the South Zone to upgrade a portion of the indicated mineral resources contained in the NI 43-101 Report in respect of the South Zone to measure mineral resources. The NI 43-101 Report in respect of the South Zone was issued on behalf of the Company by Watts, Griffis and McOuat and filed under the Company's profile on SEDAR in May 2009.
As part of its 2010 Lac Otelnuk Property program, the Company also plans to complete certain geo-metallurgical sampling and bench scale testing, and collect large diameter drill core samples for metallurgical grindability testing. Environmental baseline monitoring under the supervision of Golder Associates is also scheduled to resume.
ON BEHALF OF ADRIANA RESOURCES INC.
Allen J. Palmiere, President and CEO
Certain information regarding the Company, including the Company's plans to increase and upgrade mineral resources and management's assessment of future plans and operations, may constitute forward-looking statements under applicable securities laws and necessarily involve known and unknown risks and uncertainties. Without limitation, statements relating to potential mineralization and resources, exploration results, mining and development, future plans and objectives of the Company and imprecision of mineral resources estimates, are forward-looking statements that involve various degrees of risk. Certain important risk factors could cause the Company's actual results to differ materially from those expressed or implied by such forward-looking statements including, without limitation, changes in the world wide price of mineral commodities and currency fluctuations, general market conditions, the uncertainty of future profitability and access to sufficient capital, risks inherent in mineral exploration, development, construction and mining operations, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, environmental risks, access to labour and services and competition from other companies. As a consequence, actual results may differ materially from those anticipated in the forward-looking statements and caution should be exercised on placing undue reliance on forward looking information.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.