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Azumah Resources Ltd.
Summary
| Project: | Wa | |
|---|---|---|
| Deposit: | Wa | |
| Location: | Ghana | |
| Commodities: | Gold | |
| Date: | 9/28/2018 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 28-9-2018: Azumah Resources Ltd. announces a Resource Estimation report for its Wa deposit at the Wa project. Updated mineral resource estimate at the project. West African gold explorer and developer Azumah Resources Limited (ASX: AZM) (‘Azumah’) advises | |
| Resources: | (Resource, M+I): 28.797Mt @ 1.8g/t Au for 1.6Moz Au contained | |
| CP/QP: | [Resources]: David Williams (CSA Global Pty Ltd.) | |
| ABSTRACT: | West African gold explorer and developer Azumah Resources Limited (ASX: AZM) (‘Azumah’) advises it has increased combined Mineral Resources by 21% or 433,900oz to 2.5Moz (49.2Mt at 1.6g/t Au) for its Wa Gold Project (‘Project’) in Ghana, West Africa inclusive of maiden estimates for several emerging satellite discoveries (Table 1). With this recent increase in Mineral Resources and the successes being achieved in lowering capital and operating costs, expectations for attractive Project financial metrics are high (ASX release 24 September 2018). Ore Reserves will be updated, along with the financial metrics for the Project, when an interim study is reported before the end of 2018 (Table 2). Measured and Indicated Mineral Resources have increased by 16% to 1.6Moz (28.8Mt at 1.8g/t) and Inferred Mineral Resources increased by 31% to 0.9Moz (20.4Mt at 1.4g/t Au) (Table 1). These Mineral Resources are evenly distributed across the Kunche-Bepkong and the Wa East development camps. Drilling down-dip and strike extensions at the flagship Julie deposit saw Mineral Resources lifted by 191,000oz to 1,025,000oz, while drilling has lifted Mineral Resources by 95,500oz to 846,500oz at the flagship Kunche deposit. Maiden estimates for the emerging Kunche Northwest, Yagha, Josephine, Manwe and Alpha-Bravo satellite prospects accounted for a combined 148,600oz increase in Mineral Resources, with several of these yet to be fully closed-off. Additional Mineral Resources updates are to be expected from planned drilling that will commence shortly at several of the Project’s deposits and prospects, and which will continue through into 2019. The first scheduled RC holes are designed to test the continuity of high-grade mineralisation below the intercept of 44m at 5.37g/t Au from 99m (KRC831) obtained in Kunche’s central saddle zone (ASX release 8 May 2018). Details of the entire programme will be made available soon. | |
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