Oct 19 2011
Adroit Resources Inc. (TSX VENTURE:ADT)(FRANKFURT:A7V)(BERLIN:A7V). Management is pleased to announce that its wholly owned Italian subsidiary, Risorse dei Minerali Naturali Srl (RMN), has applied for three new exploration permits in the greater Manciano district of Grosseto Province, Italy. Adroit already holds four exploration permits in this district (Poggio Pietricci, Faggio Scritto, Poggio Monticchio and I Salaioli).
The three new exploration permits applied for total 1,696 Ha and are called Valle Lupara (388 Ha), Catabbio (926 Ha) and Selvena (382 Ha).
Valle Lupara contains the former Montauto mine which produced 97,724 tonnes of ore grading between 1.7% and 2% Antimony (Sb). When the mine closed, 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.
Catabbio and Selvena host former Mercury mines belonging to the Monte Amiata mercuriferous basin which produced over 3.3 million flasks of Mercury between 1850 and 1975, placing this basin second in the world for Mercury production after the mines of Almadén, Spain. (Note: The flask is the standard industry unit in which Mercury is available. It weighs 76 pounds (about 34.5 kg) and while the price of Mercury varies, it is recently reported at $8.00 per pound.)
The Catabio Mercury mine was operated between 1964 and 1967, producing about 1,112 flasks of Mercury and exploration in the vicinity of the mine revealed Antimony mineralization near the Fosso della Fuliggine.
The Selvena mine has been intermittently operated since the Middle Ages and possibly even earlier. The mine produced an estimated 200,000 flasks of Mercury between 1909 and 1982. Historical reports repeatedly mention the presence of Antimony mineralization in close spatial association with the Mercury occurrences.
The Manciano region, located about 50km south from the Company's project office in Grosseto, was, by world standards, a significant producer of Antimony with several deposits mined over the past century. Production in the area ceased in the 1980's with the closure of the Tafone mine. Despite historic production, several new occurrences or extensions to mined deposits were identified in the late 1980's and never developed, as production was winding down due to low prices. The Company is currently assessing some of these historic Antimony deposits for eventual commercial exploitation.
Exploration and resource evaluation, carried out prior to the mine closures, indicated the presence of considerable historic Antimony resources in the district and, more particularly, within the Company's permits. Based on its work carried out in the 1980's, SAMIM, an Italian company mining several antimony deposits in the area at the time, estimated the presence of over 2.8Mt of ore grading 0.77% Sb, yielding over 21,000t of Sb metal, including a higher-grade zone of about 465,000t grading 1.58% Sb on the Faggio Scritto prospect, astride the Poggio Pietricci and Fagio tenements. The mineralization, which was never mined, occurs near surface, and remains open in several directions (See News Releases of June 13, 2007 and February 4, 2008). It occurs in close proximity to the former Macchia Casella mine which reportedly produced over 1,100 tons of Sb metal from high-grade ore (>10%) between 1939 and 1953. Historical workings carried out on the Company's other Antimony prospects estimated resources of 25,000t grading 1.3% Sb at Poggio Monticchio and 31,500 tonnes at 1.5% Sb on the I Salaioli prospect. These deposits remain open in several directions.
All of the above historical resource estimates and data are non-conformable with National Instrument 43-101, "Standards of Disclosure for Mineral Deposits". 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 in the light of the recent discovery of new historical documents.
The Antimony mineralisation occurs in close spatial and genetic relation with the gold mineralization, recognized in the area (see, amongst others, News Release of 22 December 2006). Both occur preferentially in Mesozoic carbonate-evaporitic formations, are associated with regional structural features and are related to recent igneous activity. The idealized prototype of a southern Grosseto Province Antimony deposit can be described as an irregular mineralization situated in the upper part of a highly porous limestone unit, usually the Calcare Cavernoso ("vuggy limestone"), overlain by an impermeable unit, normally a flysch-type rock. The deposits are bound to the edge of horst positions and also to areas of elevated geothermal gradient and resulting hydrothermal activity.
Antimony has many diversified and indispensable uses for both commercial and military applications. Antimony prices recently soared as global demand surges and output considerably declined as Hunan province, China's largest producing region, curbs output to comply with central government restrictions. China reportedly contributes around 90 percent of world output.
Dr. Mehmet Taner, a Qualified Person under the guidelines of National Instrument 43-101, has reviewed and approved the geological information contained in this news release.
President's Comments. "While our primary focus at the Company has shifted to Antimony, it should be recalled that Antimony and Mercury are established pathfinder metals for Gold mineralization, which is also present in the area. These current applications are intended to increase the commercial viability of Adroit's stated objective of recommencing the mining of Antimony and other metals, which will then allow for the continued systematic exploration for Gold."
Adroit Resources Inc. is a mineral exploration company that is currently exploring for Antimony and other metals in Central Italy and diamonds, precious and base metals in the Timmins/Shining Tree/Temagami/Cobalt and Bancroft areas of Ontario, Canada. In addition, Adroit is seeking new precious and base metal projects to add to its expanding portfolio. The Company's issued and outstanding share capital is 113,919,192.