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Nzema Gold Project Highlights
- Another significant milestone met as grid power is connected to site
- Power purchase agreement concluded
- Lycopodium commence dry commissioning of process plant
PERTH, Western Australia, Dec. 16 /CNW/ - Adamus Resources Limited ("Adamus ASX:ADU") is pleased to announce the connection of grid power and commencement of the commissioning of the process plant and related facilities for the Nzema Gold Project in Ghana.
Connection to the national grid via an electricity substation is now providing consistent power to the operations which will have an average demand of 6.5MW per year. The 12.2km powerline is Adamus-owned and the only source fed off this line from the Essiama Substation. A standby diesel generator is on site to provide backup power if required in times of emergency.
Lycopodium Engineering has commenced dry commissioning of the process plant which will have an initial throughput rate of 2.0Mtpa. The plant configuration consists of the following processes :
- Single stage crushing
- Single stage SAG milling
- Gravity recovery of free gold
- Pre-leach thickening
- Single stage leaching
- Six stage CIL circuit
Adamus' Managing Director Mark Connelly said
"We continue to advance the construction of the plant facilities and another major milestone has been achieved by the team on site. Power is now being delivered through the dedicated 33.5kV powerline that we have constructed from the national grid. We have commenced energizing the plant. The work continues to proceed and is on track for first gold pour in first quarter 2011."
"In addition, we have concluded contract negotiations with the VRA, (Volta River Authority) for a bulk power purchase agreement."
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