Welcome to Azumah Resources
Azumah Resources Limited is a Perth-based, ASX-listed (ASX: AZM) company focused on exploring and developing its Wa Gold Project in the Upper West Region of Ghana, West Africa.
Three main deposits have been discovered and extensively drilled out at Kunche and Bepkong, adjacent to the Black Volta River and Ghana’s border with Burkina Faso, and at Julie ~80km to the east. Several satellite deposits, including Aduane and Collette, have also been delineated.
To date the Company has defined a JORC Mineral Resource of 2.0Moz of gold grading 1.5g/t Au including 1.3Moz Measured and Indicated grading 1.6g/t gold with these evenly distributed between Kunche-Bepkong and Wa East (Julie & Collette).
Mineral Resources have grown progressively through systematic exploration of the Company’s 2,800km2 licence holdings which encompass large tracts of prospective Birimian terrain, the rocks that host the majority of West Africa’s gold mines. Azumah has been one of the most prolific explorers and drillers in West Africa in recent years and anticipates Mineral Resources will continue to grow through the systematic testing of its pipeline of specific targets, prospects and many areas of interest.
Azumah has released provisional results from a completed Feasibility Study for a mining operation based on an initial seven-year life and producing +/- 90,000oz Au per year from the open pit mining and treatment of ore through a nominal 1.2 million tonnes per year carbon-in-leach (CIL) processing plant (1.8Mtpa treating softer oxide material). The plant will be located adjacent to the Kunche deposit and incorporate a flotation and regrind circuit to treat Julie primary and some transitional ore which will be hauled by road to the processing plant.
A JORC Ore Reserve of 624,000oz Au (9.1Mt at 2.14g/t Au) has been defined based on recent studies. With the addition of Inferred mineralisation contained in designed and optimised pits the total Mining Inventory is 652,500oz gold. Extensive metallurgical test work has been undertaken to confirm a high average overall gold recovery of ~91% for the Kunche, Bepkong and Julie deposits.
Azumah has had two 15-year Mining Leases granted over its key deposits (Ghana government holds a 10% free carried interest in their ‘rights and obligations’ and is also entitled to a 5% gross gold royalty) and is now moving to obtain environmental operating permits necessary to allow development to proceed.
No technical, social or environmental impediments to development have been identified and there is strong support from stakeholders for the Project to be established. Whilst the region has no other major industry, the Project benefits from excellent regional infrastructure including grid power to site, good quality bituminised and non-bituminised roads, good access to water, a sealed airstrip at the regional centre of Wa and good general communications.
Key investors in Azumah include Macquarie Bank (Metals & Energy Capital Division), mining services group Ausdrill Limited and Caitlyn Limited which is associated with Emirates based gold refiner Fujairah Gold FZE, a wholly owned subsidiary of global mining group, Vedanta Resources plc. Azumah itself holds a 15% interest in its neighbour and junior Ghana explorer, Castle Minerals NL which has 10,000km2 of licences adjacent to Azumah.