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PERTH, Western Australia, Aug. 4 /CNW/ -
Southern Ashanti Gold Project
- Initial drilling confirms expert structural geology model predictions
on the Salman Trend.
- Mineralisation extends deeper than previously drilled and is present
as wide zones of good grade.
- Excellent results from this new drilling include:
15m @ 6.65 g/t Au 10m @ 4.08 g/t Au
18m @ 3.63 g/t Au 17m @ 2.41 g/t Au
8m @ 3.66 g/t Au 8m @ 3.8 g/t Au
Adamus Resources Limited (ASX and TSXV: ADU) recently announced a
detailed structural review of the Main Salman Trend mineralisation at the
Southern Ashanti Gold Project (SAGP) in Ghana.
To view Figure 1 - follow the link:
The structural review determined that gold mineralisation at Salman is
related to sinistral (left hand) strike slip movement of the host rocks which
has created zones of low pressure and has allowed mineralising fluids to
deposit gold enriched zones.
The detailed structural geology study was completed by Dr Greg Cameron
based on his extensive Ghanaian structural geology experience gained over a
period of more than 10 years, including at Bogoso/Prestea Operation of Golden
Star Resources which has had 11 million ounces mined to date and also at the
Chirano/Akwaaba deposit of Red Back Mining. The study involved an extensive
site visit which included a reassessment of previous data, re-logging of
diamond core and providing recommendations for future exploration, with
particular reference to targeting deeper mineralisation.
More Gold from Structural Targeting
Based on the new structural geology model, drilling was planned to
initially extend the base of mineralisation down to 100 metres with follow-up
drilling designed to test to 150 metres or approximately twice the depth of
the current resource model. This programme commenced five weeks ago and
initial results from this drilling are appended.
To view Figure 2 - follow the link
The results provided were from holes specifically targeted to test deeper
mineralisation. The holes have revealed that in the area tested, which is
below the current design for the Salman Central pit, the mineralisation
extends deeper than previously drilled and is present as wide zones of good
Drilling will continue to infill the Salman Central and South areas at
this level before commencing to extend the extent of mineralisation to
150 metres below surface. At the completion of both phases of drilling the
Salman resource model will be updated. Based on the current results a
significant upgrade in gold resource ounces is expected.
Adamus' technical team has clearly shown that detailed technical work can
successfully target still relatively shallow resource extensions with exciting
"These are amongst the best deeper results we have seen to date in this
continuously growing project" said CEO Mark Bojanjac. "Our technical team are
excited at the prospect of adding significant additional resources from the
deeper yet still shallow sulphide material directly under the Salman deposit.
We are targeting a substantial increase to the current gold resource.
To view figure 3 follow the link:
"We are well advanced in our efforts to build the Nzema Gold mine and
expect final permitting, financing and the purchase of longer lead-time plant
items needed in the coming months ahead to produce gold from the existing
We have already shown in initial testwork that a simple float concentrate
can be made at approximately 10 times the in-ground grade. More testwork is
designed to further increase that concentration."
"To date this deeper material under Salman has been almost entirely
excluded from the existing gold Reserves because it requires a different
treatment process. There is a very real opportunity to concentrate such
material on site and to toll-treat it at nearby bio-oxidation facilities
whilst we produce gold on site from the free-milling surface material within
our existing gold Reserves."
To view Figure 4 & 5 follow the link:
Adamus Resources Limited is a Perth-based mineral exploration company,
listed on 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 Southern Ashanti Gold Project in Ghana, West Africa.
The Project encompasses approximately 464km(2) 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.
Information in this announcement pertaining to exploration results and
mineral resources was compiled by Ron Heeks, an employee of Adamus Resources
Limited, who is a Member of The Australasian Institute of Mining and
Metallurgy 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. Ron Heeks 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. Ron Heeks 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 do 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
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
For further information:
For further information: Mark Bojanjac - Managing Director/CEO, +61 8
9322 5943, email: firstname.lastname@example.org; Mark Connelly - Executive
Director/COO, +61 8 9322 5943, email: email@example.com