Azumah Resources Ltd (ASX:AZM) has commenced a 5,500 metres drilling campaign to test several high-priority targets at its Wa Gold Project in north-west Ghana.
The Wa Gold Project contains an ore reserve of 624,000 ounces gold at 2.14 g/t gold.
Azumah had completed a feasibility study, which estimated an initial 7 year mine-life for Wa, producing 90,000 ounces of gold per annum.
The new drilling will test multiple targets at Manwe for depth and strike extensions to the high-grade mineralisation discovered earlier in the year.
At Madam’s Farm, 4 kilometres northwest of the main Julie deposit, drilling will test a new area of auger and rock chip anomalism trending parallel to the Julie mineralisation.
Additionally, reverse circulation drilling at Kjersti East has been designed to follow-up high grade anomalism identified in recent trenching that returned up to 4 metres at 7.64g/t gold.
The aircore and reverse circulation programs are expected to be completed by end-September with results in October.
Azumah is presently progressing discussions with parties interested in project financing and development co-participation for the Wa project.
The company is also progressing on obtaining Ghana Environmental Protection Agency license for the project.
Azuma raised $4.65 million in July from a share placement and a share purchase plan.
The company’s share price has increased by 64% since the beginning of 2016, last trading at $0.046.
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