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PERTH, Western Australia, Nov. 8 /CNW/ - Emerging gold producer Adamus Resources Limited (TSXV, ASX: ADU) has again demonstrated further drilling success at its Ghana gold project, with new results from its Akropon tenement revealing more high grade gold mineralisation at shallow depths.
The results follow recent exploration success at the Abosso and Avrebo deposits. This provides a further boost for Adamus in its strategy to continue expanding its established resource base at its Southern Ashanti Gold Project (SAGP) in Ghana, whilst it achieves the necessary permits to commence mine development.
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Results from drilling at Akropon include:
- 12m @ 1.17g/t
- 8m @ 11.7g/t
- 12m @ 13.8g/t
- 12m @ 1.36g/t
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The RC drilling program of was completed in September initially, testing the Akropon target to about 50 metres depth over 500 metres strike. Assays have been received for initial 4 metre composite samples, with intercepts including 12m @ 1.17g/t, 8m @ 11.7g/t, 12m @ 13.8g/t and 12m @ 1.36g/t. Assays are awaited for one metre re-split samples of mineralised intercepts. Results are currently being assessed, but early indications are that with further drilling Akropon will contribute a modest open pit resource to the SAGP.
At the current gold price, this new discovery could again add significantly to the increasingly robust economics of the SAGP.
Adamus Resources is making big inroads in the development of it's the SAGP, recently announcing good progress with permit applications and on-ground development work in Ghana. The Company remains on track to realising the potential of the SAGP, where it has discovered a growing resource of 17Mt @ 2.2g/t for 1,200,000 oz (Measured and Indicated) and 6.3Mt @ 1.9g/t for 390,000 oz (Inferred).
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Akropon RC Drilling
Summary of Drill Intersections greater than 10g/t metres Au
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Prospect/ Location Hole Depth Intersection (m) Interval Grade
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Hole East North (m) From To (m) (g/t Au)
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ARRC007 578665 560801 51 0 12 12 1.17
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ARRC008 578634 560801 81 NSI
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ARRC009 578673 560850 63 0 4 4 3.89
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and 12 20 8 11.7
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incl 12 16 4 22.3
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ARRC010 578643 560849 81 NSI
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ARRC011 578666 560902 60 48 60 12 2.17
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ARRC012 578712 560998 87 NSI
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ARRC013 578680 560999 81 NSI
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ARRC014 578843 561300 75 NSI
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ARRC015 578857 561249 51 NSI
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ARRC016 578879 561300 51 NSI
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ARRC017 578844 561150 75 NSI
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ARRC018 578830 561203 63 32 44 12 13.8
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incl 32 36 4 37.3
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ARRC019 578798 561202 29 NSI
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ARRC020 578811 561249 90 40 56 16 0.76
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ARRC021 578797 561200 93 16 20 4 3.38
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and 28 40 12 1.36
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ARRC022 578692 560950 90 NSI
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ARRC023 578663 560948 90 NSI
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Notes
1) All holes drilled by reverse circulation.
2) All samples collected in 1m intervals, riffle split abd combined to
4m composites for initial assays.
3) Assaying conducted by Transworld Laboratories, Tarkwa, Ghana using
industry standard 50g lead collection fire assay with AAS finish.
4) Reference standards, field duplicates and blank samples are
routinely inserted at 1:20 and assays of quality control samples are
routinely monitored.
5) Assays are reported to 3 significant figures within the limits of
0.01g/t analytical precision.
6) Lower intersection cut-off grade 0.5g/t Au, top-cut grade of 20g/t
applied to high assays.
7) Maximum included internal dilution 4m.
8) NSI indicates no significant intercept.
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To view Figures 1 & 2 follow the link below:
http://files.newswire.ca/407/ADU-Akropon.pdf
About Adamus
Adamus Resources Limited is a Perth-based mineral exploration company, listed on Australian Security 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 Southern Ashanti Gold Project in Ghana, West Africa. The Project encompasses approximately 500km2 of tenure in the Ashanti Gold Belt - host to over 60moz 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.
"signed"
Mark Bojanjac
Managing Director/CEO
Information in this announcement pertaining to exploration results and mineral resources was compiled by Gary Brabham, a director of Adamus, who is a Member of The Australasian Institute of Mining and Metallurgy and 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. Gary Brabham 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. Gary Brabham consents to the inclusion in the announcement of the matters based on this information in the form and context in which it appears.
The TSX-V and ASX does not accept responsibility for the adequacy or
accuracy of this release. No stock exchange, securities commission or
other regulatory authority has approved or disapproved the information
contained herein.
Caution Regarding Forward Looking Statements.
Statements regarding Adamus' plans with respect to its mineral properties are forward-looking statements. There can be no assurance that Adamus' plans for development of its mineral properties will proceed as currently expected. There can also be no assurance that Adamus will be able to confirm the presence of additional mineral deposits, that any mineralization will prove to be economic or that a mine will successfully be developed on any of Adamus' mineral properties. Circumstances or management's estimates or opinions could change. The reader is cautioned not to place undue reliance on forward-looking statements.
For further information: Mark Bojanjac - Managing Director/CEO, +61 8 9322 5943, email: mark@adamusresources.com.au; Mark Connelly - Executive Director/COO, +61 8 9322 5943, email: mark.connelly@adamusresources.com.au
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