re: feasibility commences - exploration accelerate Feasibility...

re: feasibility commences - exploration accelerate Feasibility commences - Exploration accelerates

http://stocknessmonster.com/news-item?S=ADU&E=ASX&N=315190

Extract:
The Directors of Adamus Resources are pleased to announce a decision to conduct a full Feasibility Study into the development of the Southern Ashanti Gold
Project, Ghana, West Africa. The decision follows very positive results from the Company’s recent independent scoping study into the economics of the project,
prepared by JMG Projects Pty Ltd.

Concurrent with the Feasibility Study the Company will aggressively explore a number of high priority exploration targets that have the potential to add to the already significant gold resource base of 22Mt @ 2.1g/t for 1,500,000 ounces.
The scoping study detailed below optimized resources from both the Salman and Anwia Deposits and is based on a 1.3 million tpa, CIL plant, producing approximately 100,000 ounces of gold p.a. over a mine life of 6.5 years. Total
capital expenditure for the project has been estimated at US$57 million, including a 15% contingency".

"IMMEDIATE EXPLORATION POTENTIAL
Both the Salman and Anwia deposits remain open in several orientations, with on-going exploration drilling
targeting extensions both along strike and down dip.
In addition to the Salman and Anwia Deposits the Company has agreed to purchase, subject to conditions
precedent, the Anwia South Project, located immediately south of Adamus’ tenure.

Following completion of the acquisition Adamus will immediately target several existing zones of high grade gold mineralization, where previous drilling has already intersected 6m @ 148g/t, 5m @ 71.7g/t and 14m @ 10.1g/t gold.
The Company believes there is significant scope for the discovery of additional ounces throughout the
Company’s current tenure and within the pending Anwia South acquisition.

Adamus will maintain an aggressive approach to exploration, running both the feasibility study and exploration drill programs in parallel, thereby maximizing the immediate economic potential of the Southern Ashanti Gold Project".