Adex Mining's $50 Million Restart of New Brunswick Tin Mine on Track with Consultant, Engineering Firm

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Researched by Industrial Info Resources (Sugar Land, Texas)--Thibault & Associates Incorporated (New Maryland, New Brunswick) has been chosen as the consultant for Adex Mining Corporation's (Toronto, Ontario) $50 million restart project for its tin mine in Mount Pleasant, New Brunswick.

The Mount Pleasant property includes more than 100 prospective mineral claims covering about 4,000 acres, as well as an additional 1,000 acres of surface rights. The holdings include all the existing structures of the Mount Pleasant mine. A government report states that Mount Pleasant holds the largest tin deposit in North America and the world's largest reserve of indium. The restart is planned to play out in two zones. Zone one will produce tin and indium, and zone two will produce molybdenum and tungsten.

In the early 1980s, Billiton Exploration Canada Limited invested more than $150 million to construct the tungsten mine and mill at Mount Pleasant's Firetower Zone (zone two). The mine was operational from 1983 to 1985 and produced 990,200 tons of tungsten ore. Poor economic conditions and a major drop in the price of tungsten led to the mine's closure in 1985. The surface facilities remaining from the mine include ore storage areas, conveyor galleries, warehouse space and office space that are all considered to be in first-rate condition. Because so much of the infrastructure remains, the mine will require a reasonably modest effort and a much more conservative capital investment to bring them up to today's standards. These factors are seen as reason for the reduced overall costs associated with reactivating the mine.

The previous owners of Mount Pleasant started the process of identifying the property's tin and indium deposits (zone one). Those findings produced some impressive results that set the stage for Adex to continue to explore the region. Testing rigs are on-site as the company continues to explore the optimum areas to mine. This area was acquired in 1995 from Piskahegan Resource Limited when Adex began conducting exploration and metallurgical tests on the tin-indium deposits. In 1997, as economic conditions in the mining industry worsened, this part of the property was placed in a care and maintenance phase.

Before the final approvals and permitting is complete, Adex has already taken steps to upgrade the former tailings management area. The company selected Monteith Underground Services Limited (Fredericton, New Brunswick) to oversee the upgrades and repairs needed to get the restart project one step closer to completion. The tailing area upgrades are expected to be finished by the end of the year. The mine restart is not expected to be completed until early 2010.

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