Nzema Gold Project
Nzema Gold Project
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NZEMA Gold Project (Ghana, West Africa) The Nzema Gold Project (the Project) is located in south-western Ghana, approximately 280km west of Ghana’s capital city Accra. The Project consists of a contiguous block of Adamus tenements and options covering approximately 665 square kilometres, accessible via 80km of sealed roads from the major port city of Takoradi and in close proximity to the major mining centre at Tarkwa. "Nzema" pronounced "en zimmer" is the name of the people and the local region in which the Project is located.
The Project is situated on the southern extension of the Ashanti Gold Belt, host to over 100Moz of gold. The tenements themselves lie just 40km south of the world class deposits of Bogosu (3.3Moz) and Prestea (10.7Moz). Adamus' area hosts both the Salman and Anwia deposits containing a resource base as detailed in the table below. Table 1: Nzema Gold Project, Resource Estimate @0.8g/t Au COG.
Historically the deposit has had no formal mining with the exception of the Salman-Akango pit chain, with non-mechanised mining conducted in the 1890's. A number of companies including BHP Billiton, Resolute Mining, Semafo, Samax and Ashanti Goldfields have all undertaken various exploration studies and work. Adamus acquired the Salman concession in 2003, the Anwia concessions in 2004 and Anwia South concession in 2006. Feasibility Study The Bankable Feasibility Study was initially completed in June 2007 (Feasibility Study announcement of 14 June 2007). After the 2008 drilling programme we have updated the Feasibility Study (Optimised Feasibility Study) from the increased resources identified (May 2009), with a view to becoming a signficant gold producer in late 2010. For more information please refer to ASX announcements. Permitting and Approvals Adamus has to date successfully completed the following:
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