NI 43-101 Independent Technical Report Mount ... - Adex Mining Inc.

NI 43-101 Independent Technical Report Rev 02 January 22 nd , 2010
Mount Pleasant North Zone Preliminary Assessment (Project 6526-03) 4-2
Figure 4-2: Mount Pleasant Property Claim Map
(Figure Credit: Watts, Griffis & McOuat)
All of the claims are currently in good standing and the annual fees are fully paid until the
February 2, 2010 renewal date. The annual renewal fee for the claims is $3,060. There is also an
annual work requirement of $61,200 for the claims (Watts, Griffis and McOuat, 2009).
Adex holds surface rights covering approximately 405 hectares within the mining claims that
includes the area of the mine site, mill site and tailings pond, as well as the Saddle Zone and
northern sections of the Fire Tower Zone and North Zone. Third parties including the province of
New Brunswick and private individuals own the remaining surface rights in the claim area.
The property hosts two distinct mineralized zones, the Fire Tower Zone (“FTZ”) with a NI 43-101
compliant indicated resource of 13,489,000 tonnes and the North Zone (“NZ”) with a NI 43-101
Thibault & Associates Inc.
Applied Process Chemical Engineering