Initial Subsurface Sampling at Kolwezi Yields
Encouraging Results
Trading: TSX and AIM: AAA
London, UK (March 24, 2006) Adastra Minerals Inc. ("Adastra" or the "Company") reports widespread copper and cobalt mineralisation from initial reconnaissance sampling on its subsurface licence area at Kolwezi in the Democratic Republic of Congo ("DRC").
This initial stage of the programme, undertaken by consultants ACA Howe International Limited ("ACA Howe"), was designed to conduct a preliminary assessment of the subsurface mineralisation in order to plan a suitable drilling programme.
Thirty two 1 metre channel samples were collected from the artisanal pits at Kananga West area, which extend over a 350m east-west strike length; all returned anomalous copper and cobalt values. Weighted averaged assay intervals returned from the sampling included:
. 17 metres averaging 0.7% Co and 0.19% Cu, including 1 metre @ 6.35% Co and 0.41% Cu;
. 7 metres @ 0.27% Co and 0.08% Cu; and
. 8 metres @ 0.31% Co and 0.11% Cu.
Due to pit geometry and safety considerations, these samples were taken down dip and are not representative of true thickness, although they indicate lateral continuity of mineralisation both across and along strike.
Channel sampling at the Kananga Quarry also produced encouraging results, with the majority of the twenty-five 2 metre samples taken from the 50 metre long quarry face being anomalous to weakly anomalous. From the samples taken across strike, perpendicular to the mineralisation, a length-weighted averaged assay interval of 50 metres @ 0.32% Co and 0.1% Cu with a maximum of 2 metres internal dilution was returned; this included 12 metres @ 0.94% Co and 0.2% Cu.
An additional five 1 metre channel samples were collected from the West Kingamyambo pits situated some 2 km west of Kananga West. Four of these returned weakly anomalous cobalt values ranging from 0.08% to 0.42%; one sample returned 0.29% copper.
Five contiguous chip-channel samples were collected from the GH pits, situated some 2 km south of Kananga West, where artisanal miners are extracting stratabound malachite. The samples were perpendicular to mineralisation and represent a true sampled width of 5 metres. While only weak cobalt results were returned over the sampled interval, ranging from 0.09 to 0.25% Co and averaging 0.16% Co, copper values were elevated over the interval and ranged from 0.36 to 1.37%, averaging 0.77% Cu.
All samples were submitted to Mintek in South Africa for assay analysis of copper and cobalt.
Tim Read, President and CEO of Adastra said: "We are very encouraged by these initial results at the Kananga area of our subsurface licence. Although further work will be required to provide a resource estimate, the results add weight to our belief that extensive copper and cobalt mineralisation remains within the area."
Subvertical, east-west striking mineralisation was observed to a depth of 60 metres below surface in the deepest workings. ACA Howe has recommended that Adastra undertake a programme of exploration drilling to test the ground between the Kananga Quarry and the Kananga West pits, which has approximate dimensions of 1,400 metres strike length over a width of 50 metres. With this area now identified as a primary target, additional work will be undertaken to delineate the mineralisation further.
Adastra's licence for subsurface exploration covers an area of 6,200 hectares, with coordinates identical to the Kolwezi Tailings Licence owned by Adastra's subsidiary Kingamyambo Musonoi Tailings sarl. The renewable licence, which was granted to Roan Prospecting and Mining Sprl, a wholly-owned Congolese subsidiary of Adastra, has a validity of five years. It was issued by the Mining Cadastre and endorsed by a Ministerial Decree (n^0455/cab min/01/2005 of the 24 August 2005) and signed by the Minister of Mines for the DRC. The subsurface rights cover areas of past mining activity, including the Kingamyambo, Kananga West, Kananga East and Clippe Nord deposits.
Dr D. Patrick of ACA Howe, a "qualified person" within the definition of that term in Canadian Securities Administrators' NI 43-101, has verified the data disclosed herein.
About Adastra
Adastra is an international mining company listed on the Toronto Stock Exchange and on AIM, in London, under the symbol "AAA". It is currently developing mineral assets in Central Africa, including the Kolwezi tailings project, and the possible rehabilitation of the Kipushi zinc mine, in the DRC. Adastra's growth strategy emphasizes the creation of shareholder value through the development of world-class resources in stable or stabilising political environments.
Contact us:
London
Adastra
Tim Read, President and Chief Executive Officer
Tel.: +44 (0)20 7257 2040
Parkgreen Communications
Justine Howarth / Cathy Malins
Tel.: +44 (0)20 7493 3713
Toronto
Equicom
Martti Kangas
Tel.: +1 (416) 815 0700
This news release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and forward-looking information within the meaning of the Securities Act (Ontario) (together, "forward-looking statements"). Such forward-looking statements, include but are not limited to the Company's plans for its Kolwezi Project in the Democratic Republic of Congo ("DRC"), the Kolwezi Project's net present value, its overall economic potential, the availability of project financing, the likelihood of completion of a transaction with Mitsubishi transaction and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements expressed or implied by such forward-looking statements to be materially different. Such factors include, among others, risks and uncertainties relating to political risks involving the Company's operations in the DRC and the policies of other nations and organizations towards companies doing business in such jurisdictions, the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses, fluctuations in the price of copper and cobalt, conclusions of economic evaluations, changes in project parameters as plans continue to be refined, the inability or failure to obtain adequate financing or complete the proposed transaction with Mitsubishi Corporation on a timely basis and other risks and uncertainties, including those described in the Company's Annual Report on Form 20-F for the year ended October 31, 2005 and reports on Form 6-K filed with the Securities and Exchange Commission and the Canadian Securities Administrators and available at www.sec.com and www.sedar.com .
Beth Harris
Parkgreen Communications
1st Floor, Ireland House, 150 New Bond Street, London, W1S 2AQ
t: +44 20 7493 3713 f: +44 20 7491 3936 m: +44 7904 316 163
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Adastra Minerals - Subsurface Sampling at Kolwezi Yeilds Encouraging Results
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