Adamus Resources Limited - Gold Exploration Update
17 Maggio 2011 - 4:10AM
PR Newswire (Canada)
PERTH, Western Australia, May 17 /CNW/ -- /NOT FOR DISTRIBUTION TO
UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED
STATES/ PERTH, Western Australia, May 17 /CNW/ - Adamus Resources
Limited (ASX:ADU) is pleased to announce further diamond drilling
and soil sampling results at the company's Nzema Gold project,
located in Ghana, West Africa. Diamond drilling at the Teberru 04
pit within the Salman Trend at Nzema has extended the mineralised
zone 100m down dip. Diamond drill hole SNDD1109 located 100m below
all previous drilling intersected 13m @ 4.15g/t from 167m.
The mineralised zone dips at ~50 degrees to the west indicating
that the intersection is approximately true width. Adamus Resources
CEO and Managing Director, Mr Mark Connelly, said "this result
confirms mineralisation is continuing at depth with increasing
grades and wide intersections, propelling our drilling program one
step closer to generating an additional inferred mineral resource
estimate directly underneath existing mineable pits". Diamond
drilling was subsequently conducted 100m and 200m to the north and
south of SNDD1109 at the same level. SNRCD 1193 and SNRCD1238
drilled 100m and 200m to the south respectively intersected visual
indications of mineralisation (arsenopyrite) at a similar depth to
SNDD1109. Assay results for these holes are pending and will
be announced during the current quarter. SNRCD1270 drilled 100m to
the north also intersected zones of mineralisation, whilst,
SNRCD1269 drilled 200m to the north intersected broken ground with
intrusive material with no significant mineralisation and was
interpreted to be a fault. New Intercepts - Teberru 04 Hole ID
Section (UTM N55) Intersection SNRC986 553650 2m @ 4.71g/t Au from
4m SNRC988 554000 13m @ 0.76g/t Au from 2m SNRC989 554000 3m @
1.99g/t Au from 76m SNDD1007 553826 5m @ 3.8g/t Au from 56m
SNDD1007 553826 5m @ 2.63g/t Au from 75m SNDD1007 553826 3m @
2.79g/t Au from 84m SNDD1109 553804 13m @ 4.15g/t Au from 167m
SNDD1013 553975 10m @ 3.08g/t Au from 30m SNDD1016 553728 15m @
4.23g/t Au from 71m SNRC1020 553927 4m @ 1.59g/t Au from 60m
SNRC1021 553876 4m @ 1.77g/t Au from 85m SNRC1021 553876 3m @
2.36g/t Au from 97m Additional drilling is underway at Teberru 04
on a 50m x 50m grid with the aim of generating an inferred mineral
resource estimate. SOIL SAMPLING RESULTS EXTEND TARGET AREAS Soil
sampling has been completed on the Apa Tam prospecting licence (PL)
and continues on the Asanta and Hotopo PLs. From the 944
sample results received for the Apa Tam PL the peak value is
0.54ppm Au in a background of less than 10ppb Au. Thirty
three samples returned results greater than 100ppb Au. The soil
sample results have extended the target area at Avrebo West located
750m west of the Avrebo prospect (25,000oz Au). Previous
trenching at Avrebo West gave a best result of 10m at 2.22g/t Au.
Soil sampling results now suggest the mineralised trend extends at
least 500m to the north. Soil sampling across a low knoll
hill returned results of 325-400ppb Au. The anomaly is likely
to extend further. 200m spaced RC traverses are planned
between Avrebo, Avrebo West and a neighbouring property's mineral
resource to the north. A mineral resource estimate update is
planned for mid 2011 incorporating results from the oxide and
sulphide exploration programs. LIBERIA UPDATE Adamus has secured
highly prospective concessions in Liberia. Liberia currently
ranks with Ghana in the low risk category of countries within West
Africa. At present there is very little gold production in
Liberia, and Adamus with over 3,000 km(2), is one of the largest
land holders. The company has three initial target areas: Fasama,
Bopolu and Mambo, all located in the highly prospective Archaean
belt north of the capital Monrovia in western Liberia. Current work
plan will include field programs of data compilation, community
consultation and access assessment, leading to stream sediment and
soil sampling, geological mapping and rock chip sampling.
Adamus will be on the ground in June 2011. About Adamus Adamus
Resources Limited is an explorer and mine developer, listed on the
Australian Securities Exchange (ASX), TSX Venture Exchange (TSX-V)
and Frankfurt Stock Exchange Open Market (FSE). The Company's
primary focus is on exploring, realising and expanding the economic
potential of the Nzema Gold Project in Ghana, West Africa.
The Project encompasses approximately 665km² of tenure in the
Ashanti Gold Belt - host to over 100moz of gold and the Project
boasts excellent access to port and road infrastructure.
Ghana is a stable West African country with a long history and some
of the world's largest gold mining operations. Gold
production is vital to the national economy. Members of the
Adamus Board and management team have proven records in mineral
exploration, project development and project financing. Kind
regards ADAMUS RESOURCES LIMITED Mark Connelly Managing
Director/CEO 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. 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. To view this news release in HTML formatting, please use
the following URL:
http://www.newswire.ca/en/releases/archive/May2011/16/c5095.html p
please see our website: a
href="http://www.adamusresources.com.au"www.adamusresources.com.au/a
or contact: /p table tr valign="top" td align="left" Mark Connelly
- Managing Director / CEObr/ +61 8 9322 5943br/ email: a
href="mailto:mark.connelly@adamusresources.com.au"mark.connelly@adamusresources.com.au/a
/td /tr /table p /p
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