Adamus Resources - July 2011 Pictorial Update
August 03 2011 - 2:00AM
PR Newswire (Canada)
PERTH, Western Australia, Aug. 3, 2011 /CNW/ -- NOT FOR
DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES PERTH, Western Australia, Aug.
3, 2011 /CNW/ - During July, gold producer Adamus Resources (ASX
and TSXV: ADU) released results from its first quarter of
commercial production (April - June 2011). Adamus has met all
key production targets since commercial production was declared on
1 April 2011. As a result, the Nzema Gold Project in
Ghana delivered above forecast gold production of 26,015 ounces, at
a cash cost of US$544 per ounce, for the June 2011 quarter.
OPERATIONS -- Mining during the month focussed on Salman South 1A
and 02 pits. -- Construction of the Salman - Akango bypass road
(Phase 2) continued, while there was also progress on the Salman
North haul road which links the pits on the Salman trend to the
processing plant. -- Processing plant and facilities continue to
meet design specifications and are performing well. Plant
availability at 96% for the month. -- Salman Village residential
housing progressed during the month as did landscaping around
completed community buildings and the erection of electrical poles.
EXPLORATION -- Reverse circulation (RC) drilling continued at Nfutu
(6 kms south east of the Nzema process plant) with initial results
showing significant intercepts. RC drilling was also undertaken
between Teberu and Salman North pits. -- Field reconnaissance
commenced at Hotopo prior to the RC / aircore drilling program due
to commence in August 2011. -- Access and pad preparations
completed at Awukyere (12 kms south east of the Nzema process
plant) and first pass RC drilling commenced. -- Line cutting and
auger sampling at the soil anomalous zone on the south extension of
the Salman trend commenced. -- Aeromagnetic data received covering
all Adamus' licences in Ghana. Reprocessing and reimaging of the
data is planned to assist exploration target generation. Further
photographs appear on the Company's website at :
http://www.adamusresources.com.au/nzema-gold-project/construction-progress
About Adamus Adamus Resources Limited is a gold producer, 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 developing and expanding the economic
potential of the Nzema 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/August2011/03/c9006.html
p Please see our website: a
href="http://www.adamusresources.com.au"www.adamusresources.com.au/a
or contact: /p table tr 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 /p
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