The project hosts 2.1 million gold ounces at 1.5g/t gold, which includes 1.4 million gold ounces in the Measured and Indicated categories at 1.7g/t gold.
Azumah has now wrapped up a very busy period, which included the successful execution of the $17 million earn-in with private equity group Ibaera Capital GP Limited.
Programs and budgets are already being planned which will see a recommencement of drilling in coming weeks.
Drilling will aim to continue Azumah’s track record of resource and reserve expansion.
Stephen Stone, managing director for Azumah, commented:
"The addition of the Ibaera team, substantially increased funding availability, a new Ghanaian government firmly intent on expanding its gold industry plus the excellent platform already established for the Wa Gold Project, all combine to place Azumah in its strongest position yet.
"The excellent support of the fully underwritten Rights Issue by both existing shareholders and many new investors is a strong endorsement of the Company’s recent initiatives.
"Azumah is also pleased to note that the remaining shareholding of Macquarie Group Limited was yesterday acquired predominantly by existing shareholders of Azumah and follows a reduction in its holding over the past several months."