Adamus Resources Limited - Oxide Drill Results Highlight Potential
05 Agosto 2011 - 8:30AM
PR Newswire (Canada)
PERTH, Western Australia, Aug. 5, 2011 /CNW/ -- NOT FOR
DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES Highlights -- Drilling south of
the Salman South 1C pit intersects extensions along the mineralised
trend -- Mineralised trend intersected to the east of the Nugget
Hill 03 pit PERTH, Western Australia, Aug. 5, 2011 /CNW/ - Adamus
Resources Limited (ASX and TSXV: ADU) is pleased to announce
additional oxide intersections from RC drilling along the Salman
Trend at the Nzema Gold Project in south-west Ghana. RC and diamond
drilling has focussed on the Salman trend and adjacent prospects
during the first half of 2011. The drilling program has been
designed to better define the ore zones prior to mining and to
locate extensions to the known mineral resources along strike from
existing open pits. Drill results suggest there is potential
for cutbacks to several pits and potential for new oxide pits along
the Salman Trend. Managing Director, Mark Connelly, said: "These
latest drilling results highlight the merit of our strategy of
delineating mineralisation along the Salman trend. They
confirm the potential for additional pits in oxide mineralisation,
that may add mineable ounces." Salman South Extension 12 RC holes
have been drilled south of the Salman South 1C pit to test a set of
parallel west dipping mineralised zones. Best results
received to date include SNRC1299 9m @ 1.57g/t Au from 30m and 4m @
2.35g/t Au from 46m, SNRC1304 5m @ 3.90g/t Au from 12m and SNRC1298
8m @ 1.82g/t Au from 36m. In combination with previous
drilling these results highlight the potential for a ~200m southern
extension to the Salman South 1C pit. Nugget Hill East Previous RC
drilling located two west dipping mineralised zones 100m east of
the Nugget Hill 03 pit. New drilling has extended the
mineralised zones to the south with the best intersection of 7m @
2.96g/t Au from 28m in SNRC1288. The mineralisation trend has
been drilled over 125m and is open to the north and south.
Additional drilling is planned with the aim of delineating a
mineral resource of sufficient size to support a new oxide pit.
Teberu 04 Extension In-fill RC drilling south of the Teberu 04 pit
has confirmed the existence of a west dipping mineralised zone with
SNRC1291 intersecting 15m @ 1.44g/t Au from 34m and SNRC1292
intersecting 5m @ 1.83g/t Au from 24m. The mineralisation is
an extension of the moderately west dipping oxide ore zone in the
Teberu 04 pit. Additional drilling is planned following the
wet season which has hindered access. Salman South 1A SNRC1294
intersected 12m @ 2.86g/t Au from 11m to the east of the Salman
South 1A pit confirming the existence of a parallel mineralised
zone. The close proximity of the mineralisation to the Salman
South 1A pit will allow any new mineral resource to be captured in
a cutback. Step out drilling will be conducted to the north
and south. A Mineral Resource update is expected in second half
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 and exploring concessions in Liberia, West
Africa. The Nzema Gold Project encompasses approximately
665km² of tenure in the Ashanti Gold Belt - host to over 100moz of
gold and 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 (signed)
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/August2011/05/c9920.html
p /p p align="justify" 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"
cr="true"mark.connelly@adamusresources.com.au/a /td /tr /table p
/p
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