Adamus Resources - September 2011 Pictorial Update
02 Oktober 2011 - 9:03PM
PR Newswire (Canada)
/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES/ PERTH, Western Australia, Oct.
3, 2011 /CNW/ - During September, Adamus Resources reported that
drilling carried out under the Teberu 01, 02 and 04 pits at the
Nzema Gold Project uncovered high grade gold mineralisation under
the existing open pits. Multiple mineralised zones were
intersected with mineralisation up to 40m wide. OPERATIONS --
Mining during the month was focussed in Salman North 1A and South
1C pits. -- Stone pitching in progress on Akango Phase 1 haul road,
whilst culvert construction completed on Phase 2 haul road.
Construction of the explosives magazine and associated earthworks
continued. EXPLORATION -- Results of drilling targeting shoots
under the Teberu 01, 02 and 04 pits uncovered high grade gold
mineralisation under the existing open pits. Drilling completed was
sufficient to categorise a portion of the shoots into the Inferred
Mineral Resource category. Further drilling will be conducted to
convert the mineral resource from Inferred to Measured and
Indicated. -- 24 holes drilled at Kanyankaw (22 kms NNE of
plantsite) for a total of 2,826m. -- Auger sampling on the Asanta
prospecting licence soil anomalous zone completed. -- Hotopo infill
pads and access preparation completed, drilling to commence early
October 2011. -- Liberian Mineral Reconnaissance Licences were
successfully renewed by the Ministry of Lands, Mines & Energy.
CORPORATE -- Adamus MD & CEO, Mark Connelly, presented at the
Africa Downunder Conference in Perth and co-hosted a dinner, in
conjunction with Middle Island Resources, for Australian companies
with interests in Liberia. -- The Company released its Full Year
Statutory Accounts and Annual Report for the financial year ended
30 June 2011. Adamus is starting to see the financial benefits from
the commencement of commercial production declared 1 April 2011,
six months ago. Photographs appear on the Company's website at
http://www.adamusresources.com.au/Site Photos About Adamus Adamus
Resources is a gold producer, with its key asset located in Ghana,
West Africa. The company poured its first gold in January
2011, entered commercial production three months later and is on
target is to produce 100,000 ounces of gold annually from its
flagship Nzema Gold Project. The project includes open pit
mining operations, a processing facility and associated
infrastructure to mine and process ore. On current estimates
the project has a minimum life of 10 years. As well as
continuing with an extensive exploration program aimed at expanding
its operations in Ghana, Adamus is also targeting additional
discoveries from its significant landholding in Liberia. Both
countries provide a stable, mining-friendly political and economic
environment for Adamus to operate. Adamus is headquartered in
Perth, Western Australia. The company is listed on the Australian
Securities Exchange, TSX Venture Exchange and Frankfurt Stock
Exchange Open Market. In August 2011 the Company announced its
intention to merge with Endeavour Mining Corporation. Endeavour
owns the Youga Gold Mine in Burkina Faso, West Africa as well as a
pipeline of exploration and development projects in the
region. If approved by Adamus and Endeavour shareholders, the
merger is likely to take place in December 2011. 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. 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. Information in this announcement pertaining to ore
reserves was compiled by Glenn Williamson an employee of Mining
Resources Pty Ltd, who is a Member of The Australasian Institute of
Mining and Metallurgy. He qualifies as a "Qualified Person"
under Canadian National Instrument 43-101 - Standards of Disclosure
for Mineral Projects. Glenn Williamson 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. Glenn Williamson consents to the inclusion in the
report of the matters based on this information in the form and
context in which it appears. Information in this announcement
pertaining to mineral resources was compiled by Nic Johnson, an
employee of Hellman & Schofield Pty Ltd, who is 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. Nic Johnson 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. Nic
Johnson 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. Adamus
Resources Limited CONTACT: Mark Connelly - Managing Director /
CEO+61 8 9322 5943email: info@adamusresources.com.auFor media
enquiries contact:David Ikin - Professional Public Relations+61 8
9388 0944email: david.ikin@ppr.com.au
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