Adamus Resources Limited - Additional oxide ounces confirmed
04 10월 2011 - 1:07PM
PR Newswire (Canada)
/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES/ PERTH, Western Australia, Oct.
7, 2011 /CNW/ - Adamus Resources Limited is pleased to announce
positive results from resource definition drilling at the Nfutu
prospect where the mineral resource remains open along strike.
Adamus CEO Mark Connelly said: "This program supports Adamus'
strategy of exploring satellite deposits and identifying a resource
pipeline". The Nfutu prospect is located 6km west of the Nzema
plant and just 700m from the Anwia Bokazo deposit haul road. In
July 2011, 47 holes were drilled for 3935.7m to infill previous
drilling to 25m and to convert the mineral resource from the
Inferred category to Measured and Indicated. The drilling has
confirmed the continuity of gold mineralisation within two distinct
mineralised zones that are located on a north-westerly trend that
extends for over 400m. The mineralisation is associated with quartz
veins within phyllite and greywacke and is similar in appearance to
the Anwia Bokazo deposit located 2.5km to the west. Best results
from the latest drilling programme include the following
intersections : _________________________________ |BKRC101|11m @
4.31g/t Au from 79m| |_______|_________________________|
|BKRC062|8m @ 2.39g/t Au from 27m | | |3m @ 4.58g/t Au from 43m |
|_______|_________________________| |BKRC104| 9m @ 2.09g/t Au from
1m | |_______|_________________________| |BKRC091|10m @ 1.25g/t Au
from 19m| | |7m @ 1.33g/t Au from 39m |
|_______|_________________________| The results are significant
because they show the mineralised zones are still open to the
northwest and southeast. BKRC091 and BKRC090 both intersected
mineralisation that has not been adequately closed off to the
south. Similarly, hole BKRC101 located at the northwest end
of the prospect intersected mineralisation that provides
encouragement for extensions either along strike or to the
northwest within a plunging shoot. Additional reverse
circulation drilling is planned. The current mineral resource
estimate for Nfutu (calculated in June 2008) is 282,450t @ 1.28g/t
Au for 11,624oz Au (Measured and Indicated) and
753,313t @ 1.49g/t Au for 36,187oz Au (Inferred), at a
0.6g/t Au cut-off. The latest drilling program is expected to
result in an increase to the existing mineral resource. A
mineral resource update will be available in Q4 2011. 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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