Adamus Resources Ltd. - New Gold Discovered at 'Abosso'



    /NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
    DISSEMINATION IN THE UNITED STATES/

    
    Highlights:

        - First drilling at new area Abosso delivers promising results
        - Gold intercepts include 1m @76.7g/t and 1m @ 16.8g/t
        - Shallow intercepts with high grade veins
    

    PERTH, Western Australia, Aug. 21 /CNW/ - First drilling of a new area at
Adamus Resources' (TSXV, ASX: ADU) Abosso prospect in Ghana has delivered
widespread gold intercepts, including 1m @ 76.7g/t and 1m @ 16.8g/t (Figure 1
and Appendix 1).
    Assay results from Abosso, reveal broad gold mineralisation over a 250
x 100 metre area (Figure 2). Abosso is located only 350 metres west of Bokrobo
at Anwia South, part of the Adamus' Southern Ashanti Gold Project (SAGP)
(Figure 3). The mineralisation is associated with quartz veins in
sericite-altered metasediments. There is no bedrock outcrop evident in the
area.
    Adamus has an ongoing program of further boosting the value of the SAGP
by adding new gold resources to its existing gold resource base 17Mt @ 2.2g/t
for 1,200,000 oz (Measured and Indicated) and 6.3Mt @ 1.9g/t for 390,000 oz
(Inferred). This is the first time Adamus has drilled the Abosso prospect,
which has previously seen very little structured exploration. Abosso is
characterised by scattered shallow artisanal workings.
    "These are extremely encouraging results from a previously untested
area," Adamus CEO Mark Bojanjac said.
    "Our technical team believe these shallow intercepts over a wide area
coupled with high-grade veins suggest we could have another Bokrobo style
discovery, or may even be indicative of a more substantial body of
mineralisation below this shallow drilling."
    The initial reconnaissance program at Abosso featured 2,480 metres of
drilling over 39 RC holes, with angled holes at 20 metre spacings on 5 lines
spaced 75 metres apart. These initial holes were drilled to an average of
50 metres depth.
    The broad scatter of mineralisation warrants deeper drilling than the
initial 50 metre program.
    Mineralisation geometry and structural controls are presently not known.
A program of surface pitting and trenching will now be initiated to expose
bedrock geology prior to focussed follow-up drilling.

    Figure 1 - Drill hole plan of Target Area at Abosso

    Figure 2: Location of Abosso Prospect

    Figure 3: Location of Southern Ashanti Gold Project

    To view Figure 1,2 & 3 please click on the link below:
    http://files.newswire.ca/407/Abosso_Results.pdf

    About Adamus

    Adamus Resources Limited is a Perth-based mineral exploration company,
listed on Australian Stock 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 500km(2) 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.

    Kind regards,

    "Mark Bojanjac"

    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.

    
                                 Appendix 1
                        Southern Ashanti Gold Project
                             Abosso RC Drilling
            Summary of Drill Intersections greater than 0.5g/t Au


                                       Hole Interse-                   ------
    Prospect/   Location  Orientation Depth ction (m) Interval  Grade  gram x
    ------------------------------------------------------------------
    Hole      East  North Azimuth Dip  (m)  From  To    (m)   (g/t Au) metres
    -------------------------------------------------------------------------
    ABRC001  575097 548050    90  -52   63                        NSI
    -------------------------------------------------------------------------
    ABRC002  575080 548050    90  -50   29                        NSI
    -------------------------------------------------------------------------
    ABRC003  575058 548050    90  -50   60                        NSI
    -------------------------------------------------------------------------
    ABRC004  575039 548043    90  -50   60                        NSI
    -------------------------------------------------------------------------
    ABRC005  575019 548041    92  -50   63                        NSI
    -------------------------------------------------------------------------
    ABRC006  575003 548045    93  -50   63                        NSI
    -------------------------------------------------------------------------
    ABRC007  574981 548051    90  -50   63                        NSI
    -------------------------------------------------------------------------
    ABRC008  574959 548051    92  -50   63                        NSI
    -------------------------------------------------------------------------
    ABRC009  574958 548124    90  -50   63                        NSI
    -------------------------------------------------------------------------
    ABRC010  574977 548124    92  -50   63    17   18    1       3.17   3.17
    -------------------------------------------------------------------------
    ABRC011  574998 548124    90  -50   63     0    5    5       1.59   7.95
    -------------------------------------------------------------------------
    ABRC012  575019 548124    92  -50   63                        NSI
    -------------------------------------------------------------------------
    ABRC013  575038 548125    90  -50   63     0    2    2       1.58   3.16
                                              56   62    6       0.84   5.04
    -------------------------------------------------------------------------
    ABRC014  575059 548125    92  -51   69    56   57    1       4.26   4.26
    -------------------------------------------------------------------------
    ABRC015  575079 548125    93  -50   63                        NSI
    -------------------------------------------------------------------------
    ABRC016  575038 548201    90  -50   63    47   48    1       2.40   2.40
                                              62   63    1       16.8   16.8
    -------------------------------------------------------------------------
    ABRC017  574940 548200    96  -50   63    19   28    9       0.73   6.57
                                              41   42    1       1.77   1.77
    -------------------------------------------------------------------------
    ABRC018  574964 548199    90  -50   63     7   13    6       1.00   6.00
                                              47   53    6       2.01   12.1
    -------------------------------------------------------------------------
    ABRC019  574979 548200    92  -50   63     9   15    6       1.74   10.4
                                              46   48    2       2.05   4.10
                                              61   62    1       1.03   1.03
    -------------------------------------------------------------------------
    ABRC020  574999 548200    90  -50   63     1    2    1       1.16   1.16
    -------------------------------------------------------------------------
                                              45   49    4       1.26   5.04
    -------------------------------------------------------------------------
                                              57   59    2       1.07   2.14
    -------------------------------------------------------------------------
    ABRC021  575019 548200    90  -50   63     0    1    1       6.98   6.98
                                              47   48    1       76.7   76.7
    -------------------------------------------------------------------------
    ABRC022  575063 548200    90  -50   69                        NSI
    -------------------------------------------------------------------------
    ABRC023  574898 548274    92  -52   69                        NSI
    -------------------------------------------------------------------------
    ABRC024  574918 548273    90  -50   63    16   17    1 5.      81   5.81
    -------------------------------------------------------------------------
    ABRC025  574937 548274    90  -50   69                        NSI
    -------------------------------------------------------------------------
    ABRC026  574960 548273    90  -52   66    13   14    1       1.50   1.50
    -------------------------------------------------------------------------
    ABRC027  574978 548274    91  -50   66                        NSI
    -------------------------------------------------------------------------
    ABRC028  575002 548274    90  -50   66    29   31    2       0.90   1.80
    -------------------------------------------------------------------------
    ABRC029  575040 548275    90  -50   63     0    1    1       1.67   1.67
                                              21   27    6       2.22   13.3
    -------------------------------------------------------------------------
    ABRC030  575021 548274    90  -50   63    24   27    3       1.85   5.55
    -------------------------------------------------------------------------
    ABRC031  574860 548351    93  -50   63    16   17    1       1.22   1.22
    -------------------------------------------------------------------------
    ABRC032  574881 548352    90  -50   63     0    2    2       0.77   1.54
    -------------------------------------------------------------------------
    ABRC033  574901 548352    92  -50   63    23   27    4       1.92   7.68
                                              49   51    2       1.14   2.28
    -------------------------------------------------------------------------
    ABRC034  574922 548352    90  -50   63                        NSI
    -------------------------------------------------------------------------
    ABRC035  574941 548352    92  -51   63                        NSI
    -------------------------------------------------------------------------
    ABRC036  574961 548343    90  -50   66    40   41    1       1.05   1.05
    -------------------------------------------------------------------------
    ABRC037  575018 548353    90  -50   72    32   34    2       1.57   3.14
                                              49   51    2       1.69   3.38
    -------------------------------------------------------------------------
    ABRC038  574999 548353    90  -50   75                        NSI
    -------------------------------------------------------------------------
    ABRC039  574977 548354    90  -50   69    41   43    2       1.16   2.32
    -------------------------------------------------------------------------

    1) RC samples collected in 1m intervals and riffle split.
    2) Assaying conducted by Transworld Laboratories, Tarkwa, Ghana using
       industry standard 50g lead collection fire assay with AAS finish.
    3) Reference standards, field duplicates and blank samples are routinely
       inserted at 1:20 and assays of quality control samples are routinely
       monitored.
    4) Assays are reported to 3 significant figures within the limits of
       0.01g/t analytical precision.
    5) Lower intersection cut-off grade 0.5g/t Au.
    6) NSI indicates no significant intercept.
    





For further information:

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

Organization Profile

ADAMUS RESOURCES LIMITED

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890