Positive drill results at Avrebo Point

24 October 2007 | 16:05 Code : 15768 Geoscience events
Emerging gold producer Adamus Resources has received further explora....

  Emerging gold producer Adamus Resources has received further exploration success at its Ghana gold project, with positive results from drilling at its Avrebo prospect revealing high grade gold mineralisation at shallow depths.A RC drilling completed was conducted at the Avrebo prospect in August with 2,375m drilled in 33 holes, including five pre-collars for proposed diamond core holes. Best intercepts included 29m at 3.31 grams per tonne (g/t) gold, 2m at 15.1g/t gold, 25m at 2.19g/t gold, 1m at 29.3g/t gold, 14m at 1.87g/t gold, 1m at 21.4g/t gold and 8m at 2.31g/t gold. In conjunction with previous drilling and trenching, the new results indicate potentially economic gold mineralisation at shallow depths and from surface over a 150m to 200m strike length. These results together with the recently announced results at Abosso demonstrate the potential for Adamus' tenure to deliver ongoing discoveries. Adamus will now conduct more detailed work to further define the mineralisation. The lightly explored Avrebo prospect is part of the Company’s flagship Southern Ashanti Gold Project in Ghana, where Adamus has an established resource of 1.6 million ounces. The current drilling program is focussed on building the resource base within the highly prospective region, to expand production and extend mine life. Drilling coverage at Avrebo was based on 40m spaced cross-sections to approximately 60m vertical depth. This is now sufficient to allow the calculation of a first- pass resource estimate. Shallow high grade gold mineralisation at Avrebo lies within an exceptionally strong and broad envelope of hydrothermal alteration (sericite-carbonate-fuchsite) and low- grade (~ 0.2 g/t) gold. The higher gold grades are associated with a series of stacked quartz veins and disseminated pyrite within basalts. A series of step-out diamond core holes is planned to test the mineralisation between 80m and 120m below surface. Diamond drilling is scheduled to re-commence mid-October 2007.

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