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Azumah Resources makes fourth discovery at West African gold project

Stephen Stone commented: "These final results have been an outstanding success."
Azumah Resources makes fourth discovery at West African gold project
Stephen Stone commented: "These final results have been an outstanding success."

Azumah Resources (ASX:AZM) has received final results from its recently completed drill program confirming a fourth discovery of primary gold mineralisation at the Wa gold project located in Ghana.

The 93 hole, 5,885 metre combined reverse circulation and aircore program returned 3 metres at 9.78 g/t gold from 12 metres depth at the Georgie anomaly.

A follow-up reverse circulation drilling program is planned at Georgie to test for strike and depth continuity.

The Wa gold project is comprised of a number of separate licences and the Georgie discovery is located within the Julie West licence, which was only recently acquired.

Stephen Stone, managing director, commented:

"These final results confirm the just completed 5,885 metre multi-target drilling program to have been an outstanding success, delivering four new discoveries of primary mineralisation at previously undrilled anomalies and all proximal to the main ore deposits and proposed mining infrastructure."


Background

Azumah is exploring and developing its regional scale Wa Gold Project in the West African country of Ghana.
 
Three main deposits have been discovered and extensively drilled at Kunche, Bepkong and Julie.

To date the company has defined a JORC 2012 Mineral Resource of 2.06 million ounces of gold grading 1.5 g/t gold across 7 deposits.

The Kunche, Bepkong and Julie deposits have an Ore Reserve of 624,000 ounces gold.

Azumah completed a feasibility study for an open pit mining operation based on an initial seven-year life producing ~90,000 ounces gold per year.

The company has had two, 15-year mining leases granted over its key deposits.


Drill result details

Highlights from the final drill results from the recently completed program include:

Julie West Licence (recently acquired)

- 3 metres at 9.78 g/t gold from 12 metres (Georgie); and
- 2 metres at 4.35 g/t gold from 7 metres (Georgie).

Josephine Licence Area

- 9 metres at 3.64 g/t gold from 55 metres including 1 metre at 16.8 g/t gold (Manwe);
- 8 metres at 2.53 g/t gold from 70 metres including 1 metre at 9.2 g/t gold (Manwe);
- 5 metres at 3.46 g/t gold from 89 metres including 1 metre at 7.9 g/t gold (Josephine);
- 13 metres at 2.43 g/t gold from 74 metres including 2 metres at 4.15 g/t gold (Josephine); and
- 12 metres at 1.66 g/t gold from 149 metres including 2 metres at 4.15 g/t gold (Josephine).

Julie Licence

- 1 metre at 1.11 g/t gold from 12 metres (Madam’s Farm);
- 1 metre at 1.39 g/t gold from 17 metres (Madam’s Farm);
- 4 metres at 7.64 g/t gold (Kjersti East trenching); and
- 2 metres at 1.21 g/t gold (Kjersti East trenching).


Analysis

The final drill results reinforce the gold endowment at Azumah’s regional-scale Wa gold project that already hosts a 2.06 million ounce  gold resource with 624,000 ounces of Ore Reserves.

The drill program was successful in making four discoveries proximal to main ore deposits and proposed mining infrastructure.

Final results reveal a fourth discovery of primary gold mineralisation at the recently acquired Julie West licence.

Results at the evolving Manwe discovery also confirmed strike and depth continuity.

Furthermore, final results confirm the Josephine prospect as a consistently mineralised system over a strike length of 400 metres and to a vertical depth of 130 metres where it remains open.

This has now advanced this prospect to a stage where a maiden resource estimate can be commissioned.

Azumah is in the process of finalising its environmental impact statement to obtain a Ghana environmental protection agency license for the project.

The project benefits from supportive regional infrastructure including grid power to site, good quality roads, easy access to water and a sealed airstrip.

View full AZM profile

Azumah Resources Timeline

Newswire
November 09 2015

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