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PERTH, Western Australia, Dec. 17 /CNW/ - Exploration drilling of the sulphide ore zone below the Teberu 04 pit continues to generate excellent intersections and significant sulphide mineralisation has been intersected from the first of the drill holes at Salman South.
Significant sulphide intersections include :
|Hole ID|| Section
* See notes to Exploration Results & Appendix 1
At the Teberu 04 pit 10 RC (reverse circulation) and 7 diamond holes have now been drilled. Sulphide mineralisation has been intersected in a continuous zone that extends for over 300m and has been tested to a vertical depth of ~50m. Additional deeper drilling is now planned.
At the Salman Central 01 pit 17 RC holes have been drilled, 4 of which are precollars for diamond holes and at Salman South 1A pit 1 diamond and 16 RC holes have been drilled, 15 of which are precollars. Diamond holes will be drilled at 50m spacing to test the sulphide zones to a depth of 100m to allow a new sulphide resource estimate to be calculated in 2011.
More exploration diamond drilling will continue at Salman South and Salman Central. Preparation for reverse circulation (RC) drilling at the Aliva oxide prospect is well advanced and soil sampling will recommence following a late end to the current wet season.
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 Southern Ashanti Gold Project in Ghana, West Africa. The Project encompasses approximately 665km² 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.
ADAMUS RESOURCES LIMITED
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.
For further information: For further information:
please see our website: www.adamusresources.com.au or contact:
Mark Connelly - Managing Director / CEO
+61 8 9322 5943
For media enquiries contact:
Brian Thornton - Farrington National
+61 2 9332 4448