ASX ANNOUNCEMENT12th December 2005Adamus Discovers New High...

ASX ANNOUNCEMENT
12th December 2005
Adamus Discovers New High Grade Reef Containing
Intersections up to 8m @ 17.7g/t Gold at the
Company’s Southern Ashanti Gold Project
RECENT ASX ANNOUNCEMENTS
10/11/05
Exploration Drilling Targeting
Northern Extension of Salman
Yields Success
31/10/05
First Quarter Activities Report
07/10/05
Annual Report
07/10/05
Notice of Meeting
29/09/05
Diamond & RC Drilling commencing
first week in October
02/08/05
Retirement of Non-Executive
Director
LINKS
Website
www.adamusresources.com.au
Stock Exchanges
www.asx.com.au
www.tsx.com
TSXV Public Filings
www.sedar.com
Email
[email protected]
CORPORATE
Registered Office
Level 2
45 Richardson Street
West Perth WA 6005
Postal
PO Box 568
West Perth WA 6872
Telephone + 61 8 9322 5943
Facsimile + 61 8 9322 5907
Share Registry
Advanced Share Registry
Level 7, 200 Adelaide Terrace
Perth WA 6000
Telephone + 61 8 9221 7288
Facsimile + 61 8 9221 7869
ASX Code: “ADU”
TSXV Code: “ADU”
The Directors of Adamus Resources are pleased to announce that recent
exploration drilling targeting the footwall of the Salman Shear, within the
Akanko area, has successfully intersected a new high grade reef, situated
70m east of the historic Akanko Mine (ref to map). Two RC holes, located
150m apart, have intersected the new reef returning assays, from 4m
composite samples, of 8m @17.7g/t and 8m @ 7.3g/t gold. Two additional
RC holes intersected lower grade mineralization that may represent a
continuation of the same structure.
In addition to the new discovery, drilling has also intersected an intact
section of the main Akanko Reef. Previous drilling had encountered historical
stopes, but AKRC 065 successfully intersected a broad zone of
mineralization, which included a low angle intersection (ref to section) of
24m @ 5g/t gold from 12m.
Table 1: Summary of RC Drilling Intersections >5 gram metres AU
Prospect Hole ID Easting Northing From
(metres)
To
(metres)
Interval
(metres)
Gold g/t
(uncut)
Akanko Footwall AKRC064 584728 557301 56 60 4 1.92
AKRC065 584722 557250 0 36 36 3.81
Including 12 36 24 5.00
AKRC066 584800 557247 52 60 8 17.70
AKRC068 584865 557399 28 36 8 7.29
AKRC072 584750 557249 0 8 8 6.86
All drilling intersections highlighted above occur at less than 40 metres
vertical depth.
Historical records from operations at the Akanko Mine in the late 19th and
early 20th Centuries suggests free gold from the Main Reef was mined to a
depth of approximately 40 metres. To date the Main Reef has never been
drill tested below the 40m limit of the old mine. The historical records made
no mention of the newly discovered Eastern Reef, suggesting the lode is
more than likely intact.
Exploration at Akanko is on going with drilling targeting the 3.7km long,
northern extension of the Salman shear zone as it passes through the
Akanko area. Exploration will initially focus on drilling out the main shear
zone to a sufficient density to allow a resource estimate to be completed.
Immediately following the drill out of the Salman Shear Zone, exploration will
seek to further test the recently discovered reefs within the Akanko Mine area.
With greater understanding of the geometry of the reefs, drilling will focus on
establishing the true widths and strike extent of the mineralized zones.
Although the Company’s present understanding of the Akanko area is limited,
the discovery high grade, reef style mineralization associated with the Salman
Shear could significantly impact the Southern Ashanti Gold Project.
Significant results from the on-going drill program will be made available at
the earliest opportunity.
Detailed information on all aspects of the Company’s exploration activities can
be found on Adamus’ comprehensive website
www.adamusresources.com.au.
For further information please contact.
Hamish Halliday
Managing Director (+61 8 9322 5943)
“Adamus Resources Limited is a Perth-based mineral exploration company
which has been listed on the Australian Stock Exchange since June 2001.
The company owns a range of high quality mineral assets with the current
focus on unlocking the full potential of the Southern Ashanti Gold Project in
Ghana, West Africa.”
Information in this announcement pertaining to exploration results was compiled by Hamish Halliday, a director of Adamus, who is
a Member of The Australasian Institute of Mining and Metallurgy and a “Qualified Person” under Canadian National Instrument 43-
101 - Standards of Disclosure for Mineral Projects. Hamish Halliday 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. Hamish Halliday consents to the inclusion in the announcement of the matters based on their
information in the form and context in which it appears.
The TSXV does not accept responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission
or other regulatory authority has approved or disapproved the information contained herein.
Caution Regarding Forward Looking Statements.
Statements regarding Adamus' plans with respect to its mineral properties are forward-looking statements. There can be no
assurance that Adamus' plans for development of its mineral properties will proceed as currently expected. There can also be no
assurance that Adamus will be able to confirm the presence of additional mineral deposits, that any mineralization will prove to be
economic or that a mine will successfully be developed on any of Adamus' mineral properties.
Phyillite
LEGEND
Greywacke
Meta-volcanics
Tuff
Dolerite Dyke
Fault / Shear
100ppb Au Soil Geochemistry Contour
Surface Projection of Current Resource
Adamus Project Boundary
Tenement Excision
Coastal / Dixcove Granitoid
Granitoid
Southern Ashanti Gold Project
Ankobra
River
Salman Shear
0
SCALE
2.5 kms
Project Resource
18Mt @ 2.0g/t Au
for 1,200,000ozs
Anwia Deposit
Mamposo
Adamanso Shear
Shear
Enlarged Area
Akanko
Salman
North
Salman
Central
0
METRES
N
100
LEGEND
Previous RC Drilling
Recent RC Drilling
GEOCAD (WA) Pty Ltd Path..adamus\salman\figures\akanko_reefs_dec05.dgn
Adit 1
Shaft
70m
51m
57m
57m
57m
63m
AKRC067
AKRC65
AKRC51
AKRC48
AKRC66
Cross Section 557 250mN
AKRC072
Main Reef Newly Discovered Eastern Reef
Salman Shear
Mineralisation
Salman Shear
Mineralisation
8m @ 7.29g/t Au from 28m
8m @ 17.7g/t Au from 52m
8m @ 6.86g/t Au from 0m
36m @ 3.81g/t Au from 0m
100ppb Au
Soil Contour
Newly Discovered
Eastern Reef
Main Reef OPEN OPEN
Akanko Drillhole Plan
Cross Section 557 250mN
Akanko Prospect - New Discovery
36m @ 3.81g/t Au from 0m
8m @ 6.86g/t Au from 0m
8m @ 17.7g/t Au from 52m
Prospect/ Hole Depth Interval Grade
Hole East North Azimuth Dip (m) From To (m) (g/t Au)
Akanko Footwall
AKRC058 584817 557152 90 -45 63 NSI
AKRC059 584791 557151 90 -45 51 NSI
AKRC060 584766 557151 90 -45 50 NSI
AKRC061 584805 557303 90 -45 75 NSI
AKRC062 584781 557303 90 -45 51 NSI
AKRC063 584757 557302 90 -45 55 NSI
AKRC064 584728 557301 90 -45 69 56 60 4 1.92
AKRC065 584722 557250 90 -45 57 0 36 36 3.81
including 12 36 24 5.00
AKRC066 584800 557247 90 -45 63 52 60 8 17.70
AKRC067 584774 557248 90 -45 57 NSI
AKRC068 584865 557399 90 -45 50 28 36 8 7.29
AKRC069 584839 557399 90 -45 50 NSI
AKRC070 584812 557400 90 -45 50 NSI
AKRC071 584787 557400 90 -45 57 NSI
AKRC072 584750 557249 90 -45 57 0 8 8 6.86
Notes
1. All holes drilled by reverse circulation.
2. All samples collected in 1m intervals and riffle split.
6. Assays are reported to 3 significant figures within the limits of 0.01g/t analytical precision.
7. Lower intersection cut-off grade 0.5g/t Au, top-cut grade of 25g/t applied to high assays.
8. Minimum intersection width 4m; maximum included internal dilution 4m.
9. NSI indicates no significant intercept.
3. Assays are for 4m composite samples; assays are yet to be received for 1m sample splits re-submitted for assay.
4. Assaying conducted by Transworld Laboratories, Tarkwa, Ghana using industry standard 50g lead collection fire assay with AAS finish.
5. Reference standards, field duplicates and blank samples are routinely inserted at 1:20 and assays of quality control samples are routinely monitored.
Appendix Two
Southern Ashanti Gold Project
Location Orientation Intersection (m)
Summary of RC Drilling Intersections >5 gram metres Au