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DISSEMINATION IN THE UNITED STATES/
PERTH, Western Australia, Oct. 24 /CNW/ - Emerging gold developer Adamus
Resources is making big inroads in the development of its gold project in
Ghana, and with proven resources and access to quality infrastructure.
Adamus Managing Director Mark Bojanjac said the Company was on track to
realising the potential of its Southern Ashanti Project, where it had
identified 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).
Working committee meetings were held with the Bank of Ghana, Minerals
Commission, Ghana and the Environmental Protection Agency. The Feasibility and
planning documents have been lodged with the authorities and their detailed
review has commenced. The approval process is now well underway with a year
end target for finalisation.
Mr Connelly said the company was making significant investments in the
local infrastructure, the people and the communities surrounding its
operation, as part of its long-term objectives within Ghana. This included the
development of a compensation program for the project areas.
"We have worked closely with our community stakeholders in Ghana and have
finalised resettlement locations and crop compensation rates for villages
directly within the project area," Mr Connelly said.
Adamus has supported a number of community projects as part of its
community development initiatives, including the sponsorship of trainees to
acquire technical skills in woodwork, welding, plumbing and metal works at
Kikam Technical Institute.
The Company has also invested heavily in other education projects,
supporting schools through the provision in services and infrastructure, and
will continue to support local education health and community projects that
will assist their long-term sustainable development.
Adamus Resources Limited is a 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 500km2 of granted 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.
Information in this announcement pertaining 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
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: email@example.com; Mark Connelly - Executive
Director/COO, +61 8 9322 5943, email: firstname.lastname@example.org