Adamus Resources Ltd

Published : August 21st, 2007

New Gold Disccovered at "Abosso"

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New Gold Disccovered at “Abosso”

 

21 August 2007

 

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

 

First drilling of a new area at Adamus Resources’ (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 1.6 million ounce resource base. 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 highgrade 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 2: Location of Abosso Prospect

 

 

 

Figure 3: Location of Southern Ashanti Gold Project

 

 

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� 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.

 

***

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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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Annual reports of Adamus Resources Ltd
Annual Report 2007
Nominations of Adamus Resources Ltd
8/21/2009Appointement Project managers FINAL
Project news of Adamus Resources Ltd
12/19/2011Endeavour Mining And Adamus Resources Complete Merger
12/6/2011ADU - Endeavour merger with Adamus Resources has become effe...
12/5/2011Endeavour Mining Merger with Adamus Resources has Become Eff...
9/21/2011ADU - Endeavour CEO Neil Woodyer discusses benefits of merge...
8/22/2011ADU - Merger of Equals of Adamus Resources and Endeavour Min...
7/28/2011ADU - Adamus Delivers Above Forecast Gold Production
4/19/2011ADU - Hon Joel Fitzgibbon applauds Adamus Resources
3/1/2011(Aliva) - Aliva Dilling Extends Main Oxide Zone
1/14/2010(Southern Ashanti Gold Project)Construction progress - Southern Ashanti Gold Project
8/10/2009(Southern Ashanti Gold Project)A$40M Placement for Project Development
7/24/2008(Southern Ashanti Gold Project) New Discovery at Bokrobo
8/2/2007(Southern Ashanti Gold Project)Drill rigs secured for Ghana expansion
7/24/2007(Southern Ashanti Gold Project)Drilling Hits Target : 14m @ 11.5g/t
7/5/2007(Southern Ashanti Gold Project)New drilling program targets more ounces
6/14/2007Advances - Positive Feasibility Study
Corporate news of Adamus Resources Ltd
11/28/2011ADU - Adamus Shareholders Support Merger with Endeavour Mini...
8/24/2011Financial Post-Endeavour to merge with Adamus
8/21/2011Endeavour Mining and Adamus Resources to Merge and Create a ...
7/15/2011ADU - MD/CEO Mark Connelly discusses Adamus' operations and ...
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
1/31/2008Drill Results at Avrebo show Additional Ounces
11/27/2007ADDING OUNCES AT ANWIA
10/11/2007POSITIVE DRILL RESULTS AT AVREBO POINT TO NEW RESOURCE
8/21/2007 New Gold Disccovered at "Abosso"
7/3/2007raises $7.7 million at 64 cents to further develop flagship ...
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