On December 19, 2008, Adanac applied for protection under the Companies’ Creditors Arrangement Act (“CCAA”), and the Supreme Court of British Columbia granted the initial order. After filing for CCAA, the Company halted Ruby Creek development activities.
Adanac Molybdenum announced an updated Mineral Resource Estimate for its 100%-owned Ruby Creek
molybdenum deposit located in northern British Columbia, Canada. At a cut-off grade of 0.04% molybdenum, the resources are now estimated at 43.6 million tonnes at an average grade of 0.078% Mo (with 75.4 million pounds of contained Mo) classified as Measured Mineral Resources, 231.7 million tonnes at an average grade of 0.065% Mo (with 332.6 million pounds of contained Mo) classified as Indicated Mineral Resources, and an additional 39.1 million tonnes at an average grade of 0.062% Mo (with 53.7 million pounds of contained Mo) classified as Inferred Mineral Resources.
Research - Professional or Research - Advanced Subscriber Access Required
