Adamus Resources Ltd - Testwork Boosts Confidence in Sulphide Gold
August 03 2010 - 10:15PM
PR Newswire (Canada)
PERTH, Western Australia, Aug. 4 /CNW/ -- /NOT FOR DISTRIBUTION TO
UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED
STATES/ EXPANSIONARY DRILLING OF THE EXISTING FRESH SULPHIDE
RESOURCES COMMENCES MID AUGUST 2010 PERTH, Western Australia, Aug.
4 /CNW/ - Single stage flotation testwork on our fresh sulphide
mineral resource shows: - Up to 20 times gold concentrate upgrade
factor - Up to 92% of the gold can be captured in only 5% of the
ore mass - A high grade concentrate assaying 45g/t Au from the
samples tested - A product suitable for treatment using bacterial
oxidation - Clear economic potential in addition to the company's
existing Ore Reserve Adamus Resources is pleased to announce
excellent results have been obtained to date from the ongoing
metallurgical testwork being conducted on the Salman Trend sulphide
mineralisation. Results to date confirm and improve upon earlier
testwork. None of the Salman Trend sulphide mineral resources is
contained within the current published Ore Reserve and mine plan.
Accordingly, any processing of the sulphide would be additional to
current reserve base. The testwork is being undertaken by SGS
Minerals Limited in Perth under the supervision of Mr Allan Brown
who has over 40 years metallurgical experience, including many
years operational BIOX plant experience obtained in plants in
several countries. Adamus has confirmed that a valuable concentrate
from the Salman sulphide mineralisation can be made by flotation.
The concentrate produced in the first rougher float stages grades
at 45g/t Au and contains up to 92% of the available gold. This is
an approximate mass pull of 5% producing a concentrate sulphide
content of 16%, which is an excellent result. Further rougher float
stages after the initial sulphide concentrate recover a further 7%
of the gold, leaving a float tail of less than 2% or 0.05g/t. More
optimisation of the float chemistry is expected to marginally
improve this result. ECONOMIC SIGNIFICANCE The results clearly
demonstrate potential to unlock further value from the Salman Trend
which remains open with fresh sulphides along its entire 9km strike
length. Significant quantities of material are already known to
exist at one pit at Salman Central down to only 150m depth. Salman
Central occupies only 15% of the 9km Salman Trend, most of which
has been drilled to only 80 - 100m depth. Similarity of the Salman
Trend sulphide ore to adjacent BIOXtm operations in Ghana suggests
a flotation concentrate will be suitable for bacterial oxidation
processing. Tests are being conducted to prove this. Obvious
potential exists to process gold concentrate in a nearby BIOXtm
processing plant. Alternative options are also being considered. To
view Figures 1, 2 and 3 - follow the link:
http://files.newswire.ca/891/adamus0803.doc Adamus has developed a
model based on the current testwork results. The model used Whittle
Optimising software and assumed estimated mining, flotation and
treatment costs for a 1mtpa ore circuit. The optimisation
demonstrated that a large percentage of the current Salman Sulphide
Mineral Resource could convert to a Reserve and be available for
economic processing. Significantly, the economic model
'bottomed-out' and showed all material to be economic to the extent
of the current drilling. This indicates that further, deeper
resources may be economic once identified. Exploration drilling to
further extend the current shallow sulphide mineral resources to
depth has been planned and is set to commence during August.
Negotiations for processing will continue concurrently. Strongly
encouraged by the result, Adamus is continuing with flotation
optimisation studies and bacterial oxidation testwork. Based on the
samples tested to date the following potential process flow is
being considered. 9KM OF UNDERLYING SULPHIDE POTENTIAL 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 665km(2) 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.
For further information please see our website:
www.adamusresources.com.au or contact: Kind regards ADAMUS
RESOURCES LIMITED (signed) Mark Bojanjac Managing Director/CEO
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.
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; For media enquiries contact:
Brian Thornton - Farrington National, +61 2 9332 4448, email:
bt@farrington.com.au
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