Dear Shareholders and Colleagues, Welcome to Adelaide Resources Limited latest company announcement. MAIDEN 107,000 OUNCE GOLD RESOURCE ESTIMATED FOR BARNS DEPOSIT Summary A maiden Mineral Resource estimate for the 100% owned Barns deposit located on the Eyre Peninsula in South Australia declared. ? The Barns Mineral Resource estimate, reported in accordance with the JORC Code 2012, totals 2.11 million tonnes at 1.6g/t gold for 107,000 ounces at a 0.5g/t cut-off grade. ? The Resource is classified into 380,000 tonnes of Indicated and 1,730,000 tonnes of Inferred Resources. ? Gold mineralisation occurs in flat lying supergene zones overlying moderately dipping, quartz vein associated primary gold lodes. ? The Company now plans to complete metallurgical test work to establish gold recoveries, evaluate development options, and conduct exploration to increase the resource inventory. ? The Barns deposit is open to the south and down dip, and excellent potential to increase the resource exists. Five nearby gold prospects also show strong potential to deliver additional resources. ? Independent consultant Mining Plus Pty Ltd assisted with the estimation of the Barns resource. Click here to download the full announcement (PDF 2.24 MB). Should this link not open, go to the Adelaide Resources Limited website at: www.adelaideresources.com.au and follow the link in Recent News. |