Adamus To Fast Track Drill-Out Of New High Grade Ghana Gold Project

A new high grade gold project acquired in Ghana by Australian explorer, Adamus Resources Limited (ASX: ADU)(PNK: ARLTF), is to be given significant drill priority by the Company.

This would be in addition to current resource definition and infill drilling on its flagship Ghana gold project, Southern Ashanti.

Addressing the Paydirt Media 2006 Africa Downunder Conference in Perth today, Adamus Managing Director, Mr Hamish Halliday, announced that the new Anwia South project had been assigned priority status within a new 25,000 metre drill program to commence shortly across the Company's Ghana gold projects.

"While privately owned and drilled for the past 10 years prior to our acquisition this year, Anwia South's historic intercepts are exceptional and this project has significant upside for Adamus," Mr Halliday said.

"We have fast-tracked a major drilling program on it, having since acquisition, proved up the original drill hole data and located a second gold lode.

"The Anwia South drilling will push beyond the depth of the historic holes, which only went to 80 metres but reported intercepts such as 6m@148 g/t au at 48m including 2m @ 438 g/t au from 52m and 5m @ 71.7 g/t au from 72m.

"In addition, there is considerable free gold within the deposit, and initial testing has recorded very high recovery rates of around 94%, so we see strong exploration upside on intensive drilling of the several prospects throughout Anwia South's acreage."

Adamus is already fast-tracking a Bankable Feasibility Study on the nearby Southern Ashanti gold project and expects to complete this Study by the first quarter of next year.

Southern Ashanti has a resource base of 22 million tonnes grading 2.1 g/t for 1.5 million ounces of contained gold.

About Africa DownUnder Conference

The Africa DownUnder Conference, now in it's fourth year, is expected to be a blockbuster. Up to 400 delegates are expected at the two-day event. An impressive line-up of presenters have been invited and several African countries will have official representation. At least 50 corporate booths have been allocated, reflecting a diversity of commodity and geographical location which has made this "boutique" conference the enormously successful event that it is. Second only to South Africa's Indaba in Cape Town, Africa DownUnder has become a core resources event for Australian's either doing business or planning to work on the the African continent. Apart from the corporate show-and-tell presentations, key-note addresses will be made by top-ranking government officials from South Africa, Zambia, Botswana, Equatorial Guinea, Mali, Eritrea and Libya.

 

Related Companies

Ev Resources Ltd
         

Africa DownUnder Conference