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Azumah Resources granted trading halt ahead of transaction details

The company recently outlined that it wants to grow both its JORC Mineral Resources to over 3 million ounces and Ore Reserves to over 1 million ounces.
Azumah Resources granted trading halt ahead of transaction details
Further details are expected within 48 hours

Azumah Resources (ASX:AZM) has been granted a trading halt by the ASX ahead of a pending material announcement.

The upcoming news is regarding a material earn-in, investment and joint venture transaction as well as a capital raising.

The halt will remain in place until the earlier of Friday, 4 August morning trading commencement or the announcement of relevant information.

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.

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Azumah Resources Ltd Timeline

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