Azumah Hits Gold at Two New Prospects in Heart of Wa Gold Project, Ghana - Drilling returns strong results from two prospects between flagship Kunche and Bepkong deposits- Intercepts include: -- 14m @ 2.31g/t Au from 13m (KRC478) - Aduane -- 16m @ 2.
- Drilling returns strong results from two prospects between flagship Kunche and Bepkong deposits
- Intercepts include:
-- 14m @ 2.31g/t Au from 13m (KRC478) - Aduane
-- 16m @ 2.34g/t Au from 23m (KRC480) - Aduane
-- 6m @ 15.60g/t Au from 53m (BRC230) - Bepkong South
- Results highlight excellent opportunity to grow Wa Gold Project resource
- Follow-up drilling to start this month
- Feasibility Study on less than 100,000ozpa project at Wa almost complete
TORONTO, ONTARIO -- (Marketwire) -- 10/06/11 -- Azumah Resources Limited (TSX: AZR)(ASX: AZM) ('Azumah' or the 'Company') is pleased to report highly promising results from two prospects located between the adjacent flagship Kunche and Bepkong deposits at its Wa Gold Project in northwest Ghana (Table 1, Figure 1).
Wide spaced RC drilling at the Aduane target has returned intercepts including 14m at 2.31g/t Au from 13m (KRC478) and 16m at 2.34g/t Au from 23m (KRC480).
At Bepkong South, drilling returned a best intercept of 6m at 15.60g/t Au from 53m (BRC230) (Tables 2 and 3; Figure 2).
The Aduane prospect is located 1km north-east of the Kunche deposit and extends for 300m along a north-northeast trend, while the Bepkong South prospect is 500m due south of the main open pit planned for Bepkong and immediately east of a planned satellite pit.
'These latest exploration results support Azumah's belief that more 'blind' satellite gold deposits like the Bepkong deposit are likely to be discovered in the immediate vicinity of the planned gold plant.' said Azumah Managing Director Stephen Stone.
'The thickness of the best intercepts from Aduane are particularly impressive and bode well for the delineation of another mineable deposit.'
Follow-up RC drilling in the area will take place this month after the completion of a detailed review of all historical and recent exploration data, including the results of a recently completed dipole-dipole IP survey.
A Feasibility Study for a plus-1,000,000 tonnes per year, less than 100,000oz per year gold operation is almost finished, with most key components now being finalised. Its completion is largely dependent upon the receipt of final assays from recent infill drilling programmes to enable updated resource models and pit optimisations and production schedules to be finalised.
2011-2012 Exploration Campaigns
Azumah's geologists are reviewing all recent and historical exploration data and finalising exploration programmes and budgets for the next exploration season. More drill rigs in addition to the five already committed to the project are likely to be contracted.
The Company's 50 man and 25 man exploration camps at its Wa Gold Project Kalsegra headquarters and over at the Julie licences respectively are now fully operational. These will provide important support to the Company's expanded exploration activities. An aircore rig is already back on site and about to drill several new targets.
Azumah is also establishing a third field camp in the northern extremities of its 3,200km(2) licence area as much of this area has not been explored to any reasonable level.
To view Figure 1: Location of Azumah's Exploration Licences in Northwest Ghana, please visit the following link: http://media3.marketwire.com/docs/733955A.jpg
To view Figure 2: Aduane and Bepkong SouthProspects - Recent RC Drilling Results, please visit the following link: http://media3.marketwire.com/docs/733955B.jpg
Table 1: Wa Gold Project - Statement of Mineral Resource Estimates - JORC
Code & NI43-101 Compliant
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Prospect Indicated Inferred
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Tonnes Grade Contained Tonnes Grade Contained
g/t Ounces g/t Ounces
Gold Gold Gold Gold
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Kunche 4,900,000 2.0 318,000 3,600,000 1.7 198,000
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Bepkong 1,040,000 2.5 82,000 1,930,000 2.1 130,000
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Julie 3,438,000 2.2 246,000 1,489,000 2.2 104,000
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Collette 909,000 2.1 60,600
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Atikpi 350,000 1.4 15,500
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Yagha 270,000 1.2 10,800
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Total 9,378,000 2.1 646,000 8,548,000 1.9 518,900
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The Mineral Resources outlined in this report are JORC Compliant and not
disclosed utilising the Mineral Resource and Reserve categories of the
Canadian Institute of Mining (CIM) Definition Standard: A reconciliation of
the CIM Mineral Reserve categories and the JORC Code is as follows:
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Category CIM Definitions Standards JORC Code (2004)
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Resources Inferred Mineral Resource Inferred Mineral Resource
----------------------------------------------------------------------------
Indicated Mineral Resource Indicated Mineral Resource
----------------------------------------------------------------------------
Measured Mineral Resource Measured Mineral Resource
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Reserves Probable Mineral Reserve Probable Ore Reserve
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Proven Mineral Reserve Proved Ore Reserve
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Table 2: Aduane Prospect: RC drilling intercepts - October 2011
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Hole ID East North Depth Dip Azimuth From To Width Au
(m) (m) (m) (m) (g/t)
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Aduane: Exploration drilling
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KRC476 526979 1150609 50 -50 270 1 2 1 1.19
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KRC478 527492 1150611 90 -50 90 13 27 14 2.31
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KRC479 527492 1150591 90 90 -50 5 6 1 1.76
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26 30 4 2.09
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34 37 3 2.06
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46 47 1 1.06
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KRC480 527476 1150562 100 -50 90 23 39 16 2.34
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61 62 1 1.03
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95 96 1 1.03
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Table 3: Bepkong South Prospect: RC Drilling Intercepts, August 2011
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Hole ID East North Depth Dip Azimuth From To Width Au
(m) (m) (m) (m) (g/t)
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Bepkong South: Exploration drilling
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BRC228 527079 1151560 50 -50 270 32 34 2 3.20
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43 44 1 3.80
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BRC229 527075 1151538 50 -50 270 19 20 1 1.38
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24 29 5 1.26
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BRC230 527045 1151512 105 -50 90 39 40 1 2.56
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53 59 6 15.60
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69 71 2 4.95
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74 75 1 1.51
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78 82 4 1.45
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BRC231 527043 1151489 108 -50 90 94 95 1 2.73
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101 102 1 1.17
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Notes: All intersections based on 1m riffle split samples. Intercepts
selected are based on a 1.0g/t gold lower cut-off, no upper-cut applied and
maximum 4m internal dilution. Intersected thicknesses are down-hole
intervals. Sample analysed by 50gm Fire Assay method, carried out by SGS
Tarkwa, Ghana, which has no relationship to Azumah. Drill hole collars are
located by GPS with accuracy /- 5m. The type of analytical or testing
procedures utilised and sample size and the quality assurance programme and
quality control measures are consistent with those described in the
technical report entitled 'NI 43-101 Azumah Resources Limited Wa Gold
Project, North West Ghana' dated April 14, 2011.
Competent Persons Statement
The information in this report that relates to exploration results, mineral resources or ore reserves is based on information compiled by Mr Nicholas Franey who is a Member of the Australian Institute of Geologists. Mr Franey is a full time employee of the Company. Mr Franey has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves' and to qualify as a 'Qualified Person' as defined in National Instrument 43 -101 - Standards of Disclosure for Mineral Projects ('NI 43-101') of the Canadian Securities Administrators. Mr Franey consents to the inclusion in this report of the matters based on his information in the form and context in which it appears. For a description of Azumah's data verification process, quality assurance and quality control measures, the effective date of the mineral resource estimates contained herein, details of the key assumptions, parameters and methods used to estimate the mineral resources and reserves set out in this report and the extent to which the estimate of mineral resources set out herein may be materially affected by any known environmental, permitting, legal, title, taxation, socio-political, marketing or relevant issues, readers are directed to the technical report entitled 'NI 43-101 Azumah Resources Limited Wa Gold Project, North West Ghana' dated April 14, 2011.
For further information on the Wa Gold Project, please refer to the Company's NI 43-101 compliant technical report available on the Company's website at www.azumahresources.com.au and sedar.com.
Forward Looking Statement
Certain statements in this report contain forward-looking information. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, among others, the results of future exploration, risks inherent in resource estimates, increases in various capital costs, availability of financing and the acquisition of additional licences, permits and surface rights. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statements were made, and readers are advised to consider such forward-looking statements in light of the risks set forth in the Company's continuous disclosure filings as found at the (Canadian) SEDAR website.
Contacts:
Azumah Resources Limited
Stephen Stone
Managing Director
61 (0)418 804 564
stone@azumahresources.com.au
www.azumahresources.com.au
Read Corporate
Paul Armstrong
61 (0)421 619 084
paul@readcorporate.com.au
