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Azumah Resources lays plans to advance Wa Gold Project in Ghana

The Wa Gold Project is positioned in the Upper West Region of Ghana.

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Azumah is preparing new exploration programs

Azumah Resources Ltd (ASX:AZM) is now firmly positioned to move into its next phase of growth focused on rapidly advancing its Wa Gold Project in Ghana.

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.

WATCH NOW: Azumah's Stephen Stone reveals details on a $17 million earn-in deal

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."

Quick facts: Azumah Resources Ltd

Price: 0.032 AUD

ASX:AZM
Market: ASX
Market Cap: $31.31 m
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Azumah Resources progresses towards developing Wa Gold Project in Ghana

Azumah Resources Ltd(ASX: AZM) managing director Stephen Stone updates Proactive Investors on the company’s progress towards developing its Wa project gold asset in the West African country of Ghana. The plans are advancing following the recent release of a scoping study that indicated...

on 13/8/19

2 min read