Adamus Resources Limited - Mineralised Zones Extended at Teberu Pit
18 Setembro 2011 - 5:41PM
PR Newswire (Canada)
Highlights -- High grade zones intersected under Teberu open pits
-- Mineralisation up to 40m wide -- Multiple mineralised zones
intersected NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES
OR FOR DISSEMINATION IN THE UNITED STATES PERTH, Western Australia,
Sept. 19, 2011 /CNW/ - Adamus Resources Limited is pleased to
report that drilling carried out at its Nzema Gold Project in Ghana
has uncovered high grade gold deposits under the mine's existing
open pits. Best results include : 17m @3.33g/t Au from 90m
SNRCD1284 24m @ 2.25g/t Au from 110m SNRCD1283 5m @ 17.64g/t Au
from 134m SNDD1303 19m @ 2.66g/t Au from 157m 6m @ 3.17g/t Au from
60m SNRCD1061 5m @ 10.51g/t Au from 69m SNDD1109 13m @ 4.15g/t Au
from 167m The drilling was carried out along the Salman Trend,
which is located at the southern end of the world class Ashanti
Gold Belt and hosts significant oxide gold deposits at South,
Central and North Salman, Teberu and Akango. Although the
whole 9km strike extent of the Salman Trend is mineralised, the
mineralisation commonly forms distinct shoots. Reverse circulation
(RC) and diamond drilling during the first half of 2011 has
targeted shoots under the Teberu 01, 02 and 04 oxide pits.
Drilling was designed on an approximate 50m by 50m grid to test the
shoots to a vertical depth of 100m. The mineralised zones dip
moderately to the west and vary in width and grade along strike and
down dip. In SNRCD1284 the mineralised zone is 40m wide at an
average grade of ~2.6g/t Au while in SNRCD1283 the mineralised zone
is only 5m wide but with a higher grade of 17.64g/t Au. Drilling
completed in the first half of 2011 was sufficient to categorise a
portion of the shoots into the Inferred Mineral Resource
category. This will be reflected in the mineral resource
update planned for later in the year. Additional drilling
will be conducted on a 50m by 25m grid to convert the mineral
resource from Inferred to Measured and Indicated. Potential
also exists for extending the mineral resource with SNDD1308
intersecting 9m @ 2.31g/t Au at the southern end of Teberu 04 and
the intersection of 5m @ 17.64g/t Au in SNRCD1283 open at depth.
Mark Connelly, Adamus' Managing Director, commented: "Our
recent drilling program confirms the growth opportunity at Nzema
for additional oxide mineralization and the sulphide project in
particular." About Adamus Adamus Resources is a gold producer, with
its key asset located in Ghana, West Africa. The company
poured its first gold in January 2011, entered commercial
production three months later and is on target is to produce
100,000 ounces of gold annually from its flagship Nzema Gold
Project. The project includes open pit mining operations, a
processing facility and associated infrastructure to mine and
process ore. On current estimates the project has a minimum
life of 10 years. As well as continuing with an extensive
exploration program aimed at expanding its operations in Ghana,
Adamus is also targeting additional discoveries from its
significant landholding in Liberia. Both countries provide a
stable, mining-friendly political and economic environment for
Adamus to operate. Adamus is headquartered in Perth, Western
Australia. The company is listed on the Australian Securities
Exchange, TSX Venture Exchange and Frankfurt Stock Exchange Open
Market. In August 2011 the Company announced its intention to merge
with Endeavour Mining Corporation. Endeavour owns the Youga
Gold Mine in Burkina Faso, West Africa as well as a pipeline of
exploration and development projects in the region. If
approved by Adamus and Endeavour shareholders, the merger is likely
to take place in December 2011. Neither TSX Venture Exchange nor
its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release. Information in this
report pertaining to exploration results was compiled by Martin
Bennett, an employee of Adamus Resources Limited, who is a Member
of the Australasian Institute of Geoscientists and has more than 5
years experience in estimation of recoverable resources in gold
deposits. He qualifies as a "Qualified Person" under Canadian
National Instrument 43-101 - Standards of Disclosure for Mineral
Projects. Martin Bennett has sufficient experience which is
relevant to the style of mineralisation and type of deposit under
consideration and to the activity which he is undertaking to
qualify as a "Competent Person" as defined in the JORC Code. Martin
Bennett consents to the inclusion in the report of the matters
based on this information in the form and context in which it
appears. Information in this announcement pertaining to ore
reserves was compiled by Glenn Williamson an employee of Mining
Resources Pty Ltd, who is a Member of The Australasian Institute of
Mining and Metallurgy. He qualifies as a "Qualified Person"
under Canadian National Instrument 43-101 - Standards of Disclosure
for Mineral Projects. Glenn Williamson has sufficient
experience which is relevant to the style of mineralisation and
type of deposit under consideration and to the activity which he is
undertaking to qualify as a "Competent Person" as defined in the
JORC Code. Glenn Williamson consents to the inclusion in the
report of the matters based on this information in the form and
context in which it appears. Information in this announcement
pertaining to mineral resources was compiled by Nic Johnson, an
employee of Hellman & Schofield Pty Ltd, who is a Member of The
Australian Institute of Geoscientists and has more than 5 years
experience in estimation of recoverable resources in gold
deposits. He qualifies as a "Qualified Person" under Canadian
National Instrument 43-101 - Standards of Disclosure for Mineral
Projects. Nic Johnson has sufficient experience which is
relevant to the style of mineralisation and type of deposit under
consideration and to the activity which he is undertaking to
qualify as a "Competent Person" as defined in the JORC Code. Nic
Johnson consents to the inclusion in the report of the matters
based on this information in the form and context in which it
appears. Caution Regarding Forward Looking Information. Certain
statements included in this announcement, including information
regarding Adamus' plans with respect to its mineral properties,
constitute forward-looking information. Forward-looking
information includes, among other things, statements regarding
expected operations. Forward-looking information is based
upon a number of estimates and assumptions made by the Company in
light of its experience, current conditions and expectations of
future developments, as well as other factors that the Company
believes are appropriate in the circumstances. While these
estimates and assumptions are considered reasonable by the Company,
they are inherently subject to business, economic, competitive,
political and social uncertainties and contingencies. Many
factors could cause the Company's actual results to differ
materially from those expressed or implied in any forward-looking
information provided by the Company, or on behalf of, the
Company. Such factors include, among other things, risks
relating to additional funding requirements, metal prices,
exploration, development and operating risks, competition,
production risks, regulatory restrictions, including environmental
regulation and liability and potential title disputes.
Investors are cautioned that forward-looking information is no
guarantee of future performance and, accordingly, investors are
cautioned not to put undue reliance on forward-looking information
due to the inherent uncertainty therein. Forward-looking
information is made as at the date of this announcement and the
Company disclaims any intent or obligation to update publicly such
forward-looking information, whether as a result of new
information, future events or results or otherwise.
Adamus Resources Limited CONTACT: Mark Connelly - Managing Director
/ CEO+61 8 9322 5943email: info@adamusresources.com.auFor media
enquiries contact:David Ikin - Professional Public Relations+61 8
9388 0944email: david.ikin@ppr.com.au
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