Adroit Resources Inc. Granted Three New Antimony Exploration Permits in the Greater Manciano District of Grosseto Province
Adroit Management is pleased to announce that the Tuscan Region has granted three new permits to Adroit's wholly owned Italian subsidiary, Risorse dei Minerali Naturali Srl (RMN) by formal regional decree dated May 31, 2012. The permits, applied for in fall 2011 (see news release of October 19, 2011), are valid for two years and are renewable.
Adroit Resources President, Graeme Rowland, states: "We are very happy that the three new permits have been granted. Each of the permits is very promising. Along with the other permits we already hold in the Greater Manciano area, we believe we can renew the area's reputation as one of the world's largest antimony producers. Antimony is a strategic metal, whose price has reached $13,100/tonne ($5.94 per pound); antimony is doing very well in the market, especially when price trends are measured against other strategic metals."
To view the "Price trends for antimony, cobalt, indium, PGMs & tungsten (2007 = 100)" graph accompanying this press release, please click on the following link:
http://media3.marketwire.com/docs/adt.pdf.
The three new exploration permits granted cover 1,696 Hectares (Ha) and are called Valle Lupara (388 Ha), Catabbio (926 Ha) and Selvena (382 Ha). With the new permits Adroit has almost doubled its area of exploration in Italy, giving a total land package of 3,835 Ha.
Valle Lupara contains the former Montauto mine, which produced 97,724 tonnes of ore grading between 1.7% and 2% Sb. When the mine closed in 1989, the operating company reported estimated remaining resources of 30,824 tonnes grading at 1.45% Sb, plus 55,000 tonnes grading 1.75% Sb in two different locations on the permit area.
All of the above historical resource estimates and data are non-conformable with National Instrument 43-101 "Standards of Disclosure for Mineral Deposits" and should not be relied upon. These historical reports have not yet been independently verified by the Company and the Company is not relying upon them and is not treating the historic resource as a current resource. The historical data is currently being reviewed and assessed by the Company.
Catabbio hosts a former mercury mine, with historic exploration revealing disseminated antimony mineralization.
On the Selvena permit, the Morone mercury mine produced an estimated 200,000 flasks of mercury between 1909 and 1982 and historical reports repeatedly mention the presence of antimony mineralization.
The Greater Manciano area was a significant global producer of antimony. Exploration and resource evaluations carried out in the 80s indicate the presence of considerable historic antimony resources within Adroit's permits. The mineralization occurs near surface, and remains open in several directions (see news releases of June 13, 2007 and February 4, 2008).
Dr. Mehmet Taner, P.Geo., has verified and approved the geo-scientific information contained in this news release. Dr. Taner is a Qualified Person as defined in National Instrument 43-101 (Standards of Disclosure for Mineral Projects).
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 145,895,191 shares issued and outstanding.
On behalf of the Board of Directors,
Graeme Rowland
Chairman and President
Neither the 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 release.
Contacts:
Adroit Resources Inc.
(604) 688-3304
info@adroitresources.ca
www.adroitresources.ca
Blackwell (Corporate Advisor)
(416) 364-3123
blackwell@tcn.net