MEDIA RELEASE
11 October 2007
Positive
Drill Results at Avrebo Point to New Resource
Emerging
gold producer Adamus Resources (ASX:ADU) is pleased to announce further
exploration success at its Ghana gold project, with positive results from
drilling at its Avrebo prospect revealing high grade gold mineralisation at
shallow depths.
A RC
drilling completed was conducted at the Avrebo prospect in August with 2,375 metres drilled
in 33 holes, including five pre-collars for proposed diamond core holes.
Best intercepts included:
29m @ 3.31g/t Au
|
2m @ 15.1g/t Au
|
25m @ 2.19g/t Au
|
1m @ 29.3g/t Au
|
14m @ 1.87g/t Au
|
1m @ 21.4g/t Au
|
8m @ 2.31g/t Au
|
|
In conjunction with previous drilling and trenching,
the new results indicate potentially economic gold mineralisation at shallow
depths and from surface over a 150-200m strike length. These results
together with the recently announced results at Abosso demonstrate the
potential for Adamus' tenure to deliver ongoing discoveries. Adamus will
now conduct more detailed work to further define the mineralisation.
The lightly
explored Avrebo prospect is part of the Company’s flagship Southern
Ashanti Gold Project in Ghana,
where Adamus has an established resource of 1.6 million ounces. The current
drilling program is focussed on building the resource base within the highly
prospective region, to expand production and extend mine life.
Drilling
coverage at Avrebo was based on 40 metre spaced cross-sections to approximately
60 metres vertical depth (cross section overpage). This is now
sufficient to allow the calculation of a first- pass resource estimate.
Shallow high grade gold mineralisation at Avrebo lies
within an exceptionally strong and broad envelope of hydrothermal alteration
(sericite-carbonate-fuchsite) and low- grade (~ 0.2 g/t) gold. The higher gold
grades are associated with a series of stacked quartz veins and disseminated
pyrite within basalts.
A series of step-out diamond core
holes is planned to test the mineralisation between 80 and 120 metres below
surface. Diamond drilling is scheduled to re-commence mid-October 2007.
Avebro Cross Section
Showing Planned Diamond Drilling
Notes
1. All holes drilled by reverse circulation
2. All samples collected in 1m intervals and
riffle split.
3. Assaying conducted by
Transworld Laboratories, Tarkwa, Ghana using industry standard 50g lead
collection fire assay with AAS finish.
4. Reference standards, field
duplicates and blank samples are routinely inserted at 1:20 and assays of
quality control samples are routinely monitored.
5. Assays are reported to 3 significant figures
within the limits of 0.01g/t analytical precision.
6. Lower intersection cut-off grade 0.5g/t Au,
top-cut grade of 20g/t applied to high assays.
7. Maximum included internal dilution 2m.
About
Adamus
Adamus
Resources Limited is a Perth-based mineral exploration company, listed on
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 500km� of 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
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
|
Kind regards.
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.
***
Issued by
Purple
Communications
Level 3, 28 Kings Park Road, WEST
PERTH WA 6005
Ph: 08 9485
1254 Fax: 08 6263 0455
purple@purplecom.com.au