logo-loader
viewAzumah Resources Ltd

Azumah Resources aims to grow gold resource with drilling program

A recent drilling campaign at the Wa Gold Project identified long, open-ended anomalies.

Map of Africa
A more focused drilling program is aimed at increasing the mineral resource

Azumah Resources Limited’s (ASX:AZM) 940-hole drilling program at its Wa Gold Project in Ghana has prompted the company to undertake further exploration.

The delineation of geochemical anomalies of 2 kilometres and 1.6 kilometres at its Duri and Butele prospects provide a platform to launch a more targeted exploration program.

The status of the Bepkong North-West target has also been elevated following a review and reinterpretation of historical aircore data.

Potential to increase mineral resource

Duri, Butele and Bepkong are considered by the company as compelling walk-up opportunities to increase the current Mineral Resources of 2.1 million ounces.

READ: Azumah Resources establishes strategy to grow 2 million ounce gold bounty

The tenor of the geochemical gold anomalism at the Duri and Butele targets is relatively high compared with that identified in the broader Wa Lawra greenstone belt.

Refined strategy by new partner pays dividends

These latest results reflect a fresh approach by new partner and private equity fund, Ibaera Capital Fund LP (Ibaera)

Ibaera’s strategy is to target areas within the project known for their gold endowment.

With anomalism so widespread over the 2400 square kilometres of tenure, there is the need for rigorous prioritisation.

The $6 million multi-target 2018 exploration campaign is being developed by the Azumah-Ibaera partnership.

Group aims to increase resource and reserves

The aim of the program is to boost existing Mineral Resources and Ore Reserves and reposition the project for funding and development.

A combined circa 47,000 metres of reverse circulation (RC), diamond, aircore and auger drilling is planned at numerous prospects.

The first phase drilling strategy is aimed at increasing Mineral Resources in close proximity to the flagship Kunche, Bepkong and Julie deposits. 

Quick facts: Azumah Resources Ltd

Price: 0.032 AUD

ASX:AZM
Market: ASX
Market Cap: $31.31 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Azumah Resources Ltd named herein, including the promotion by the Company of Azumah Resources Ltd in any Content on the Site, the Company...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

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