Sign up Australia
Proactive Investors - Run By Investors For Investors

Azumah Resources reaffirms gold drilling success at Butele North target in Ghana

The company's shares are trading about 8% higher intra-day, at $0.026.
the flag of ghana painted on a human arm
The Wa Gold Project already hosts 2.1 million ounces of gold

Azumah Resources Ltd (ASX:AZM) has revealed a cross-section of its first-pass drilling result of 16 metres at 1.07 g/t gold from surface (including 6 metres at 1.86 g/t gold) at the Butele North target.

Butele Prospect: Cross section of drill hole BURC019

The Butele North target is within Azumah’s Wa Gold Project in Ghana which has a JORC-compliant resource of 2.1 million ounces of gold grading 1.5 g/t gold.

READ: Azumah Resources hits gold at new Butele North target in Ghana

Earlier this week, Azumah drilled out gold in its first pass, 19-hole, 1,729-metre reverse circulation (RC) drill program at the Butele North target.

The program was designed as a broad, initial test of the main 1.6x0.4 kilometre Butele North auger anomaly.

Infill auger sampling and additional RC drilling is planned to investigate the continuity of mineralised shear zones at Butele North.

Multi-target, high-intensity exploration campaign

Private equity group Ibaera Capital is earning up to 47.5% in the Wa Gold Project in two stages over two years by spending up to US$13.5 million ($17 million).

In 2018, $6 million has been committed to a multi-target, high-intensity exploration campaign including 47,000 metres of drilling.

Large pipeline of target areas and specific prospects

Azumah is exploring 2,400 square kilometres of licence holdings, which encompass large tracts of prospective Birimian terrain, the rocks that host the majority of West Africa’s gold mines.

Much of this is covered in soil, alluvium or laterite so most discoveries have been ‘blind’.

Azumah is expected to substantially grow its resource as it continues to test the large pipeline of target areas and specific prospects.

READ: Azumah Resources extends gold zones at Wa project in Ghana

View full AZM profile View Profile

Azumah Resources Ltd Timeline

Related Articles

1522151008_gold_bars,_sized.png
March 27 2018
Orsu Metals looks set for a transformative year, with a sizeable gold resource expected in an already prolific area
1517846055_Cradle-Mine.jpg
February 05 2018
Cradle Arc is ramping up copper production at its Mowana project, and further expansion is on the cards
1521549964_gold_bars,_sized.png
March 20 2018
Renaissance Gold has an extensive exploration portfolio in Nevada and Utah, and an impressive array of partners

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 2018

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