TSX Venture Exchange-listed Adex Mining has commissioned a scoping study on the Fire Tower Zone (FTZ) at its Mount Pleasant property, in New Brunswick, Canada, the firm announced on Wednesday.

The study, which began on June 30 and will likely take 12 to 14 weeks, will be used to compile capital and operating cost estimates for a mine at the FTZ.

"The scoping study is a key step forward for Adex that will greatly assist us in our efforts to fast-track mine development at the Mount Pleasant mine property, with a view to resuming active production," said president and CEO Kabir Ahmed.

Mount Pleasant was built and developed by the then Billiton in the eighties, but was closed and flooded in 1985, after less than three years in operation, as sliding metals prices meant the mine was no longer economic.

Adex bought the project in 1995, and recently began taking steps towards moving the mine back into production.

Adex expects to bring the tungsten/molybdenum FTZ into production first, but also has high hopes for the tin/indium zone on the property.

"The study will provide Adex's management team with an important decision-making tool in preparation for definitive feasibility work at the property,” Ahmed said.

The study will include a process equipment list, process building major equipment layout, proposed tailings management systems and projected additional site infrastructure needs, as well as a number of other deliverables.

If the results of the scoping study are positive, the company will then make a decision on whether to go ahead with a full feasibility study on Mount Pleasant.

The FTZ contains a NI 43-101-compliant inferred resource of 13,07-million tons, at 0,35% tungsten oxide and 0,21% molybdenum disulphide.

The scoping study will be conducted by Aker Metals, a division of Aker Solutions Canada.