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Azumah Resources Identifies New Ghana Gold Targets

Monday, July 24, 2017
THE DRILL SERGEANT: Azumah Resources (ASX: AZM) received confirmation of 18 very-high-priority and 32 high-priority target areas within a total of 140 at the company’s Wa gold project in Ghana, West Africa.

Azumah Resources revealed the prioritising of the targets had come from a study conducted by geological consultants CSA Global, which included the identification of 38 new targets.

Azumah said the study is to underpin the company’s post-seasonal rains exploration push to increase Mineral Resources to over 3 million ounces and Ore Reserves to over one million ounces of gold.

“Whilst we have sufficient Ore Reserves to firmly underpin a seven-year, 100,000 ounces per year gold mining operation with robust operating margins, we recognise the need to increase Ore Reserves to reduce the establishment capital cost assigned to each reserve ounce and to enhance overall project metrics,” Azumah Resources managing director Stephen Stone said in the company’s announcement to the Australian Securities Exchange.

“Given what we can already see, our excellent track record of discovery plus our enviable regional-scale footprint of prospective Birimian geological terrain, we are confident in our ability to grow resources and reserves.”

Azumah explained that over the past ten years CSA has regularly peer reviewed and provided various specialists to the project on short and longer term assignments.

Over this period Azumah has built a 2.1 million ounce Mineral Resource from a virtually nil position.

Over 60 per cent of the resource lies in the Measured and Indicated Mineral Resource category.

In addition, Azumah has put together a geological information across several major datasets.

This most recent review and gap analysis by CSA sought to integrate and interrogate these datasets using the latest geological intelligence, multi-disciplinary interpretive and data processing techniques.

Focus was directed towards reinterpreting the structural controls and their sequencing and then determining which of these are associated with mineralising events.

This revised structural framework resulted in the generation of new target areas with several others upgraded.