Adamus Resources Ltd . - Drilling Delivers Excellent Results
December 16 2010 - 8:13PM
PR Newswire (Canada)
PERTH, Western Australia, Dec. 17 /CNW/ -- /NOT FOR DISTRIBUTION TO
UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED
STATES/ PERTH, Western Australia, Dec. 17 /CNW/ - Exploration
drilling of the sulphide ore zone below the Teberu 04 pit continues
to generate excellent intersections and significant sulphide
mineralisation has been intersected from the first of the drill
holes at Salman South. Significant sulphide intersections include :
_______________________________________________________ | Hole ID
|Section |From|To |Interval |Grade | Location | | |(UTM55) |(m)
|(m)| (m) |(g/t) | |
|_________|________|____|___|_________|______|__________| |SNRC985
| 3750 | 77 |85 | 8 | 4.37 | Teberu |
|_________|________|____|___|_________|______|__________| |SNDD1002
| 3775 | 74 |77 | 10 | 4.18 | Teberu |
|_________|________|____|___|_________|______|__________| |SNDD1005
| 3825 | 58 |73 | 15 | 4.18 | Teberu |
|_________|________|____|___|_________|______|__________| |SNDD1010
| 3925 | 43 |53 | 10 | 3.87 | Teberu |
|_________|________|____|___|_________|______|__________| |SNRCD999
| 1650 |104 |115| 12 | 2.61 |Salman Sth|
|_________|________|____|___|_________|______|__________| | | | 80
|84 | 4 | 3.13 |Salman Sth| |SNRCD1008| 1627
|____|___|_________|______|__________| | | | 89 |95 | 6 | 2.65
|Salman Sth|
|_________|________|____|___|_________|______|__________| * See
notes to Exploration Results & Appendix 1 At the Teberu 04 pit
10 RC (reverse circulation) and 7 diamond holes have now been
drilled. Sulphide mineralisation has been intersected in a
continuous zone that extends for over 300m and has been tested to a
vertical depth of ~50m. Additional deeper drilling is now
planned. At the Salman Central 01 pit 17 RC holes have been
drilled, 4 of which are precollars for diamond holes and at Salman
South 1A pit 1 diamond and 16 RC holes have been drilled,
15 of which are precollars. Diamond holes will be
drilled at 50m spacing to test the sulphide zones to a depth of
100m to allow a new sulphide resource estimate to be calculated in
2011. More exploration diamond drilling will continue at Salman
South and Salman Central. Preparation for reverse circulation
(RC) drilling at the Aliva oxide prospect is well advanced and soil
sampling will recommence following a late end to the current wet
season. 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 (signed) 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. To view this news release in HTML formatting, please use
the following URL:
http://www.newswire.ca/en/releases/archive/December2010/16/c6129.html
p/p p align="justify"please see our website: a
href="http://www.adamusresources.com.au"www.adamusresources.com.au/a
or contact:/p tabletr valign="top"td align="left"br/ 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
Copyright
Adamus Res Ltd. (TSXV:ADU)
Historical Stock Chart
From Jun 2024 to Jul 2024
Adamus Res Ltd. (TSXV:ADU)
Historical Stock Chart
From Jul 2023 to Jul 2024