Sign up Australia
Proactive Investors - Run By Investors For Investors

Azumah Resources samples high grade gold in West Africa

44 rock chip samples have assayed up to 17.4 g/t gold.
Azumah Resources samples high grade gold in West Africa
Azumah is now planning follow-up mapping, trenching and auger work

Azumah Resources (ASX:AZM) has sampled grades of up to 17.4 g/t gold in recent rock chip sampling at its regional-scale Wa Gold Project located in Ghana.

44 rock chip samples were collected from four prospects on the 146 square kilometre Julie licence, which included the Georgie target and three new targets.

First pass drilling at the Georgie target in late 2016 produced 3 metres at 9.78 g/t gold from 12 metres and 2 metres at 4.35 g/t gold from 7 metres.

Geochemical sampling and mapping underway to screen and delineate the sampled targets and additional targets for drill testing.

Stephen Stone, managing director, commented: “The 5,885 metre multi-target drilling program completed in late 2016 delivered four new discoveries of primary mineralisation for the Wa East region, including at the Georgie prospect on the Julie West licence.

“We look forward to the eventual drilling of these latest targets and to hopefully replicating these successes.”


Rock chip assays

Forty-four rock chip samples were collected from generally limited areas of outcrop in or around the areas of gold-in-soil anomalism or from shallow artisanal workings.

The four prospects have been named JW1, JW2, JW3 and JW4.

Assay highlights from each prospect include:

- JW1: 17.40 g/t gold, 2.48 g/t gold and 2.03 g/t gold in quartz veins and 3.63 g/t gold from the host tonalite rock confirm and extend previous sampling;
- JW2: 4.01 g/t gold and 3.93 g/t gold and 0.46 g/t gold from the host tonalite;
- JW3: 0.99 g/t gold and 0.61 g/t gold; and
- JW4: 2.29 g/t gold.


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.


Analysis

The recently acquired Julie West licence continues to deliver new targets highlighting its prospectivity and capacity to deliver more mineralisation into Azumah’s growing 2.1 million ounce gold platform.

The follow up mapping, trenching and auger work will help Azumah understand the value of these prospects and advance them towards becoming a potential gold resource.

During the current March quarter, Azumah plans to:

Exploration.

- Review drilling results from all targets and plan follow-up programmes as warranted;
- Progress exploration at several other prospects within the Company’s target pipeline; and
- Continue evaluating the newly acquired Julie West licence.

Wa Gold Project Development.

- Progress discussions with parties interested in project financing and development co-participation;
- Advance discussions with the Ghana Government on securing material fiscal concessions (a new government was elected on 7 December, 2016 with the New Patriotic Party lead by Nana Akufo-Addo replacing the National Democratic Congress); and
- Progress applications for environmental licences for the proposed Kunche-Bepkong and Julie Project sites.

View full AZM profile View Profile

Azumah Resources Ltd Timeline

Related Articles

Gold
December 05 2017
Greatland Gold is well financed to support its exploration projects
drillrignewangle_58d3d28d41cb2.jpg
March 24 2017
There is no doubt we will have a resource upgrade, probably later in the year - chief executive Glen Parsons
Otis Gold poised to ramp up exploration at flagship Kilgore project
October 24 2017
The firm has now submitted a "plan of operation" to the US forest service for Kilgore

No investment advice

The information on this Site is of a general nature only. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions. You acknowledge and understand that neither the Company, its related bodies corporate, the information providers or their affiliates will advise you personally about the nature, potential value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter. You should read our FSG and any other relevant disclosure documents and if necessary seek persona advice prior to making any investment decision.

You understand and agree that no Content (as defined below) published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person.

You understand that in certain circumstances the Company, its related bodies corporate, the information providers or their affiliates may have received, or be entitled to receive, financial or other consideration in connection with promoting, and providing information about, certain entities on the Site and in communications otherwise provided to you.

You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate. From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Before you act on any general advice we provide, please consider whether it is appropriate for your personal circumstances.

© Proactive Investors 2017

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use