Adamus Resources Ltd

Published : August 02nd, 2007

Drill rigs secured for Ghana expansion

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ASX and Media Release

 

Drill rigs secured for Ghana expansion

 

2 August 2007

 

Emerging gold producer Adamus Resources (ASX:ADU) is pleased to announce it has secured drilling equipment for further expansion of its Southern Ashanti Gold Project (SAGP) in Ghana during the coming twelve months.

 

Adamus Chief Operating Officer Mark Connelly, currently onsite in Ghana, said the Company had formed an alliance with drilling services supplier African Mining Services (AMS), which locked in the equipment for the drilling program through 2007 and into 2008. Following its June raising of $7.84M at 64cents per share, the company is well positioned for immediate growth.

 

“We have a double shift drilling program already underway here in Ghana, with 22,000 metres of accretive drilling scheduled for the next six months.  Forming this alliance and securing the equipment is an important step in allowing us to quickly increase our resource base and realise the potential of the SAGP,” Mr Connelly said.

 

AMS is part of the Australian based, international mining service group, Ausdrill Limited. AMS has more than 10 years experience operating in Ghana.

 

About Adamus

Adamus Resources Limited is a Perth-based mineral exploration company, listed on Australian Stock Exchange (ASX), Toronto Stock Exchange 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� 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.

 

 

For further information please contact:

Mark Connelly – Executive Director/COO

+61 8 9322 5943

email:

mark.connelly@adamusresources.com.au

 

Mark Bojanjac – Managing Director/CEO

+61 8 9322 5943

email: mark@adamusresources.com.au

 

 

 

 

 

 

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Adamus Resources Ltd

PRODUCER
CODE : ADU.AX
ISIN : AU000000ADU5
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Adamus Resources is a gold producing company based in Australia.

Adamus Resources holds various exploration projects in Australia.

Its main asset in production is NZEMA in Ghana, its main asset in development is SOUTHERN ASHANTI GOLD PROJECT in Ghana and its main exploration properties are ALIVA in Ghana and SERPENTINE RIDGE PROJECT and BOLLINGER DIAMOND PROJECT in Australia.

Adamus Resources is listed in Australia, in Canada, in Germany and in United States of America. Its market capitalisation is AU$ 320.3 millions as of today (US$ 330.5 millions, € 260.7 millions).

Its stock quote reached its lowest recent point on October 05, 2001 at AU$ 0.05, and its highest recent level on January 16, 2004 at AU$ 1.59.

Adamus Resources has 447 904 191 shares outstanding.

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8/2/2007(Southern Ashanti Gold Project)Drill rigs secured for Ghana expansion
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6/9/2011ADU - Adamus Resources reaffirms full year gold production g...
12/21/2009CREDIT-APPROVED FINANCE PACKAGE
12/16/2008EPA GIVES GREEN LIGHT FOR MINING AT GHANA GOLD PROJECT
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