Adanac Molybdenum Looking at Options for Ruby Creek Project

- February 23rd, 2015

Adanac Molybdenum Corp. (TSXV:AUA) announced that it has retained KPMG Corporate Finance Inc. to help it look at strategic options regarding its business, particularly with regard to its Ruby Creek project.

Adanac Molybdenum Corp. (TSXV:AUA) announced that it has retained KPMG Corporate Finance Inc. to help it look at strategic options regarding its business, particularly with regard to its Ruby Creek project.

As quoted in the press release:

  • Ruby Creek, as evidenced by the tenure land package, is 100% owned, with no carried interests, royalties or off-take arrangements.
  • Existing Ruby Creek permits should allow for an efficient and accelerated resumption of Ruby Creek development, based on significant amounts of information about drilling, assaying, metallurgical test work, environmental studies and permitting, garnered over more than twenty years.
  • The NI 43-101 compliant May 2009 Resource Statement outlined a Measured and Indicated resource of 275.4 million tonnes grading 0.067% molybdenum, for 407.9 million lb. contained.
  • Metallurgical test results demonstrate that Ruby Creek molybdenum concentrate will meet or exceed the content specifications required by toll roasters.
  • Ruby Creek is accessible year round, and is three hours by road from both Whitehorse, Yukon and from the port of Skagway, Alaska.
  • While Ruby Creek is designed as an open pit, the Climax/Henderson-style geology and several high-grade drill holes indicate the potential for further underground development beneath and/or adjacent to the pit.

Click here to read the full Adanac Molybdenum Corp. (TSXV:AUA) press release. 

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