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Azumah Resources Ltd.
Summary
| Project: | Wa | |
|---|---|---|
| Deposit: | Bepkong | |
| Location: | Ghana | |
| Commodities: | Gold | |
| Date: | 7/2/2019 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 2-7-2019: Azumah Resources Ltd. announces a Resource Estimation report for its Bepkong deposit at the Wa project. Initial underground mineral resource estimate for Bepkong underground. West African gold explorer and developer Azumah Resources Limited (ASX | |
| Resources: | (Resource, Total): 2.424Mt @ 3.59g/t Au for 279.7Koz Au contained at Bepkong Underground | |
| CP/QP: | [Resources]: Mark Glassock (Extomine Pty Ltd.) | |
| ABSTRACT: | West African gold explorer and developer Azumah Resources Limited (ASX: AZM) (“Azumah”) advises that the Mineral Resource estimate for the Bepkong deposit at the Company’s Wa Gold Project, Ghana, West Africa (“Project”) has more than doubled to 517,600oz with a majority of the increase arising from a maiden 279,700oz Mineral Resource for the recently discovered Bepkong ‘underground’ mineralisation (Tables 1 to 4. Tables A and B. Figs 1, 2 and 3). Importantly, the Bepkong underground Mineral Resource includes 167,500oz of Measured and Indicated mineralisation grading an average of 4.05g/t Au. Within this there are several coherent zones of higher grade mineralisation along the confirmed 300m strike and also to depth, where drilling has confirmed mineralisation to 580m below surface and still open. Total Mineral Resources for the Project have increased by 11% to 2,770,000oz of which 65% comprises Measured and Indicated material. A solid platform has now been established for the consideration of a possible underground operation once the Bepkong open pit is mined out. Any underground operation will only need to cover dedicated capital and associated operating costs with all Project establishment costs likely to be repaid within 1.6 years of commissioning by prior open pit operations (ASX release 30 January 2019). A scoping study to evaluate the technical and economic viability of an underground operation is being undertaken by Orelogy Mine Consulting, with results to be reported later in July. The underground ore would be accessed by a decline from the base of the open pit with open-stoping likely to be the optimal mining method. | |
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