Azumah hits gold 580 metres below surface
ASX-listed and Ghana focussed gold developer Azumah Resources has continued to extend its exciting Bepkong East Lode mineralisation down-plunge, with its latest hits occurring up to 580 metres below the surface.
The company can hardly miss at the moment with the ongoing drill campaign unearthing a plethora of high-grade intersections from multiple ore shoots well beneath the existing optimised open pit design for the Bepkong gold deposit.
The most recent intercepts include 4.5 metres grading 4.96g/t gold from 363.5m down-hole and 15.5m @ 5.17g/t gold from 401m down-hole in the same drill hole.
Deeper intersections were 13.5m @ 3.21g/t gold from 480m down-hole, 9.1m @ 2.94g/t gold from 506.9m down-hole and 2.5m @ 3.55g/t gold from 710.5m down-hole, in separate drill holes.
According to Azumah, the drilling has improved its definition of the East Lode system by generating continuity on several previously defined high-grade ore zones and shoots at Bepkong.
None of the newly defined gold mineralisation at Bepkong was included in last September’s mineral resource update for the company’s larger Wa gold project that totalled 2.5 million ounces.
Bepkong currently holds a mineral resource of 245,000 gold ounces and an open pit ore reserve of 155,800 ounces.
The latest drilling results are strengthening the case for a potential underground mining scenario at Bepkong, with Azumah’s engineers presently evaluating the economic merit of this development.
If proven to be viable, this could substantially enhance the ore reserve position and financial returns from the company’s Wa gold project, which already holds a 1 million ounce plus ore reserve, for a 100,000 ounce per annum open pit mining operation over 11 years.
Azumah is now targeting similar deep holes beneath the neighbouring Kunche gold deposit, which holds a much larger mineral resource of 846,500 ounces and ore reserves of 436,500 ounces.
Managing Director Stephen Stone said: “The Bepkong deposit continues to deliver with this latest 11-hole, 5,520m programme extending East Lode mineralisation to at least 580m below surface and most importantly confirming the excellent continuity of the several high-grade zones within it.”
“At 800m we have just drilled our deepest hole ever at the Wa gold project, Ghana, and the rig is now drilling similar deep targeted holes at the nearby and larger Kunche deposit with results to be reported in coming weeks.”
“The project’s engineers are also now evaluating a possible underground mining option at Bepkong that, if viable, could add even more value to the already financially robust, plus-100,000 ounce per year proposed open-pit development project.”
“The Azumah-Ibaera joint venture is confident that it will continue to grow the Wa gold project beyond these immediate development plans and from its current 1-million ounce ore reserve.”
Regionally, the company is also focussing on drill testing several high priority brownfields and greenfields targets, with an update due shortly for that work program.
Joint venture partner Ibaera is investing close to A$17m in two stages over two years to acquire a 47.5% direct interest in the Wa gold project tenements and is managing the exploration and development activities of the JV on-site.
With the confirmation of a major, consistently mineralised gold system at the Bepkong East Lode and multiple exploration and development targets across north-western Ghana, Ibaera looks like they’ve picked a winner in Azumah Resources.