Adamus Resources Ltd - Grade Control Drilling Extends Ore Zones at Nugget Hill
September 29 2010 - 1:59AM
PR Newswire (Canada)
PERTH, Western Australia, Sept. 29 /CNW/ -- /NOT FOR DISTRIBUTION
TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES/ PERTH, Western Australia, Sept. 29 /CNW/ - Grade
control drilling at the Nugget Hill pit indicates that the ore
zones defined may extend beyond the limits of the current pit
design. Grade control results outside current shell include: 6m @
7.6 g/t Au 9m @ 2.59 g/t Au 4.5m @3.85 g/t Au 6m @ 5.7 g/t Au The
8m x 5m spaced grade control drilling has clearly defined ore
trends that cut across the Nugget Hill pre-strip area in a NNE
direction to the edge of the proposed pit and beyond. The areas to
the north and south of the Nugget Hill pit have had limited
drilling during the exploration phase due to limited access to low
lying ground (see photo overleaf). Heavy mining machinery now
available on site will be used to build causeways across the low
lying ground to facilitate the extension of the grade control drill
pattern. Initial Phase 1 mining will commence in October and waste
rock will be used to provide access for drill rigs. If results are
encouraging deeper resource definition drilling will be conducted.
The grade control drilling results suggests an extension of ore
zones between the Nugget Hill and Teberu pits and allows the
potential amalgamation of the two pits, reduced mining costs and
increases of ore tonnage and gold ounces. GEOLOGY TEAMS ENHANCED
Martin Bennett has been appointed General Manager - Exploration and
Business Development. This appointment reflects Adamus' commitment
to exploration and resource development at the Nzema Gold Mine in
Ghana and to the continued growth of the company. Martin has 20+
years of experience and was formerly the exploration manager for
the Ariab Mining Company in Sudan, a subsidiary of La Mancha
Resources, where he managed the first drill out of the potentially
world class Hassai VMS sulphide project. Prior to this he was the
exploration manager for La Mancha in Australia and oversaw the
resource development drilling at the Frog's Leg and White Foil
deposits in Kalgoorlie that have a cumulative resource in excess of
2Moz Au. Other roles include 6 years with KCGM at the Super Pit in
Kalgoorlie and exploration manager for Aditya Birla Minerals, who
own the Nifty and Mt Gordon copper mines. Martin has a master's
degree (M.ODG) from the University of Western Australia and is a
member of the Australian Institute of Geoscientists. He qualifies
as a Competent Person for compliance with the Canadian Norm 43-101
and JORC code. The in-country geological team has been boosted by
the appointment of Michel Cormier as the Geology Manager. Michel is
a bilingual French Canadian Geologist with over 35 years of proven
track record in gold and base metals exploration, discoveries,
development and mining. He has a solid international expertise in
exploration and mine geology, including mineral resource and
reserve evaluation, and in underground and open-cast grade control.
Michel gained expertise in project generation, planning and
management of exploration programs leading to the discovery and
development of economically feasible gold deposits in Canada,
Guinea, Niger and Burkina Faso. He has worked continuously in West,
North and Central Africa for the last 13 years. Since 2000, he has
been acting as Qualified or Competent Person for compliance with
Canadian Norm 43-101 or JORC code. Prior to his new role with
Adamus Resources Limited, Michel was Exploration Vice-President for
GMA Resources Plc (formerly Gold Mines of Algeria). Mark Quansah
joins the team as Mining Geology Superintendent. A graduate of the
University of Ghana in 1996, he joins Adamus most recently from
Anglogold Ashanti's Iduapriem mine. Here he was responsible for
managing grade control systems and generating models, supervising
exploration and grade control drilling, assisting in
resource/reserve reporting and calculating budgets. Previous to
this Mark was Mine Geologist for Ghanaian Australian Goldfields
(GAG) and successfully led the grade control team to rescue the
then GAG from closure in 1999. With 14 years experience in the
exploration and mining of gold, Mark is particularly focussed on
the areas of accountability, projects and training. About Adamus
Adamus Resources Limited is an explorer and mine developer, listed
on the 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. Kind
regards ADAMUS RESOURCES LIMITED (signed) Mark Connelly Managing
Director/CEO Notes to Exploration Results (i) Assaying conducted by
Intertek Laboratories, Tarkwa, Ghana using industry standard 50g
lead collection fire assays with AAS finish. (ii) Reference
standards, field duplicates and blank samples are routinely
inserted at 1:20 and assays of quality control samples are
routinely monitored. (iii) Assays are reported within the limits of
0.01g/t analytical precision. 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. Information in this
report pertaining to exploration results was compiled by Martin
Bennett, an employee of Adamus Resources Limited, who is a Member
of the Australasian 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. Martin Bennett 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. Martin
Bennett consents to the inclusion in the report of the matters
based on this information in the form and context in which it
appears. 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.
please see our website: www.adamusresources.com.au or contact: Mark
Connelly - Managing Director/CEO, +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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