Mining, Grade Control & Exploration proceeds to Q1 2011 Gold Pour
November 29 2010 - 11:14PM
PR Newswire (Canada)
PERTH, Western Australia, Nov. 30 /CNW/ -- /NOT FOR DISTRIBUTION TO
UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED
STATES/ PERTH, Western Australia, Nov. 30 /CNW/ - The Directors of
Adamus Resources (ASX:ADU) are pleased to announce rapid progress
of grade control drilling and mining, at the Nzema Gold project,
with mill commissioning set to commence within weeks and gold
production scheduled for early 2011. Mining contractor African
Mining Services ("AMS") has fully mobilized to site and has
commenced mining operations at the Nugget Hill 1A open pit.
Utilising four Caterpillar 777 trucks and a Liebherr excavator, the
larger capacity of the AMS equipment has resulted in acceleration
of ore delivery to the ROM pad. The stockpile on the ROM is
now approaching 100,000t - approximately two weeks production. Two
grade control drill rigs are in operation and have completed the
first phase of grade control drilling at the Salman South 1B,
Nugget Hill 1A / 1B and Teberu 01 pits. Grade control drilling at
Salman Central 01 is 90% complete and drilling at Salman South 1A
has commenced. Results from the program will be analyzed over the
next quarter. Sulphide Exploration Exploration drilling of the
sulphide ore zones below the oxide pits has continued during
November. The diamond drill rig has been moved to Salman
following positive results from the initial program at Teberu 04
and Nugget Hill 1A that were reported in previous releases. (ASX
releases 24/10, 8 /11) Oxide Exploration Access and site
preparation work is well advanced at the Aliva prospect, located
10km southwest of the Nzema plant, where a reverse circulation (RC)
resource definition program is planned to upgrade the resource from
the current Inferred category to Indicated. Aliva is located
close to the new haul and service road constructed by Adamus to
bypass the villages of Nkroful and Teleku-Bokazo. Forward Program
Mining is scheduled to commence at Teberu 01 pit within a week
following the successful commencement of mining at Nugget Hill 1B.
Mining at Salman South 1A is scheduled for January.
Exploration will continue to focus on drilling the oxide resource
at Aliva and delineation of the sulphide ore zones along the Salman
Trend through to the end of the year. A resource update is planned
for 2011. 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 665km² 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 Mark Connelly 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. pplease see our website: a
href="http://www.adamusresources.com.au"www.adamusresources.com.au/a
or contact:/p tabletr valign="top"td align="left"Mark Connelly -
Managing Director / CEObr/ +61 8 9322 5943br/ email: a
href="mailto:mark.connelly@adamusresources.com.au"mark.connelly@adamusresources.com.au/a/td/tr/table
p align="justify"iFor media enquiries contact:/i/p p
align="justify"Brian Thornton - Farrington Nationalbr/ +61 2 9332
4448br/ email: a
href="mailto:bt@farrington.com.au"bt@farrington.com.au/a/p
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