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Message: Commences Resource Estimate at Lac Otelnuk Iron Project
| January 29, 2009 |
| Adriana Commences Resource Estimate at Lac Otelnuk Iron Project |
| VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 29, 2009) - Adriana Resources Inc. ("Adriana" or the "Company") (TSX VENTURE:ADI)(WKN:A0F7EL) is pleased to report that as a result of the drilling programs on the Lac Otelnuk Iron Project in 2007 and 2008, the Company has commenced a National Instrument ("NI") 43-101 compliant Mineral Resource estimate with Watts, Griffis and McOuat Limited ("WGM"), a Toronto-based firm of independent consulting geologists and engineers. "We are pleased to be in a position to advance the Lac Otelnuk Project to this next stage, and anticipate that the initial Mineral Resource estimate should be completed by the end of March 2009. This initial estimate will serve as a base from which the Company can potentially expand the iron resource to the northwest into the North Zone and also test the southeast extension of the deposit beyond the current limit of drilling," commented Michael Beley, President of Adriana. Final drilling assay results were received from SGS Minerals Services in late January 2009, and have been entered into Adriana's database software programs and transmitted to WGM. Drilling results are expected to be announced shortly, followed by the results of the Mineral Resource estimate and a Technical Report compliant with NI 43-101 standards and guidelines and Canadian Institute of Mining, Metallurgy and Petroleum ("CIM") definitions. About Lac Otelnuk Iron Project The Lac Otelnuk Iron Project lies within the Labrador Trough in Northern Quebec. The deposit is a Lake Superior-type (Mesabi Range) taconite iron formation. These types of deposits have been the principal source of iron ore mined in the world. The Lac Otelnuk iron formation has been identified over a strike length of approximately 25 kilometres through mapping and exploration drilling in the 1970s. A total of 67 diamond drill holes totaling 7,446 metres have now been drilled by Adriana on a nine kilometre portion of the deposit referred to as the South Zone (including 27 holes totaling 2,191 metres drilled in 2007). The 2008 drill campaign completed grid drilling of the South Zone at a drill spacing of 600 m by 500 m. Drilling has shown that the Lac Otelnuk iron formation stratigraphy is very uniform, dips gently to the northeast and has a potential average thickness of approximately 83 metres. The South Zone is open along strike (both northwest and southeast) and down dip where it gently dips under the overlying cap rock and is constrained only by the increasing thickness of overlying cap rock. The western flank of the deposit outcrops and is delimited by surface erosion. For further information on the Lac Otelnuk Iron Project please refer to Adriana's website at: http://www.adrianaresources.com/s/La... Mr. Frank Condon, P.Eng., a director of the Company and a qualified person as defined by NI 43-101, has reviewed and approved the technical disclosure contained in this news release. About Adriana Resources Inc. Adriana's goal is to become a fully integrated iron ore producer through continued development of its iron ore port facility in Brazil, through acquisition of iron ore mineral resources in Brazil, and the advancement of the Lac Otelnuk Iron Project in Quebec, Canada. ON BEHALF OF ADRIANA RESOURCES INC. Michael J. Beley, President |
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