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Azumah Resources Limited

Publié le 11 mars 2008

Drilling Underway at Bepkong, Butele and Basabli

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Azumah Resources Limited (ASX: AZM)

 

ASX Release                                                            11 March 2008

 

 

Drilling Underway at Bepkong, Butele and Basabli

 

 

Following the success of its diamond and RC drilling programme at the 100%-owned Wa-Lawra Gold Project in Ghana during the December 2007 Quarter, Azumah Resources Limited (ASX: AZM) is pleased to advise that follow-up drilling has commenced to further test the recently announced Bepkong gold discovery and other priority gold targets.

 

Bepkong will be the first area to be tested with RC drilling following-up an intersection of 16m @ 4.9g/t gold from 50m, including 10m @ 7.1g/t gold from 54m.

 

This was a particularly pleasing result, especially given that the intersection was from the very first hole drilled into a newly delineated soil anomaly that extends intermittently for 2km from Bepkong back to the Company’s main 516,000 ounce Kunche gold resource.

 

The anomaly lies off the generally accepted trend of mineralisation in the area and – together with new mineralisation discovered at Kunche East and Kunche West, demonstrates that the 2,800km2 Wa-Lawra project area is very fertile and offers excellent potential for a new gold discovery.

 

“We are hopeful that Bepkong will deliver additional ounces into Azumah’s gold inventory and contribute to our objective of establishing a profitable stand-alone gold mining operation at Wa-Lawra,” commented Executive Chairman, Mr Stephen Stone.

 

After completing 35 holes at Bepkong the RC rig will move to the new Butele prospect, 35km south of Kunche. A programme of 7 RC drill holes will test a 300m x 150m gold anomaly where rock chips taken from quartz veins hosted in granite returned several very anomalous values including 11.5g/t, 8.2g/t and 7.8g/t gold.

 

Second Drill Rig at Basabli

 

A second rig will drill 40 RAB holes into the 4km long Basabli anomaly, 40km north of Kunche, that was generated by power-auger soil sampling which obtained spot values of up to 1.68g/t gold.

 

The truck-mounted power auger rig continues to sample many other areas of interest within the Wa-Lawra Project area to ensure that a continuous pipeline of new targets is ready for drilling. The Bepkong drill results have provided Azumah with a great deal of confidence in the reliability of the auger-derived anomalies.

 

Metallurgical studies on Kunche mineralisation, structural studies to determine project and local scale controls on gold distribution, back-to-basics field-work by Azumah’s Ghana-based expatriate and local geoscientists, and the utilisation of the full spectrum of available exploration technologies are all contributing to Azumah’s ability to achieve a core goal of establishing a 1-2 million ounce resource base at Wa-Lawra.

 

Well-Founded Optimism

 

With just under $3.0 million working capital, Azumah has sufficient funds to see the intensive work programmes it has planned through to completion. The Company is confident that its systematic and tenacious approach to exploration will deliver additional gold discoveries.

 

Like many juniors, Azumah’s share price has been significantly impacted by recent share market volatility. The new management team is fully aware of the need to ensure the Company is fully valued by the market and against its peers, and is working hard on several fronts to encourage new buyers into the stock and existing shareholders to continue their much-valued support.

 

The Company’s board and management team is very experienced and highly capable across the full range of essential disciplines. With a  tremendous team of Ghanaian and Perth-based personnel, and collaborations with a number of highly regarded consultants, Azumah shareholders can be confident that the Company is in good hands.

 

The Company’s website is being updated and enhanced and anyone wishing to receive regular updates on Azumah’s activities can subscribe to automatically receive a copy of all ASX announcements as soon as they are posted.

 

“With a steady stream of drill results and news flow expected over the coming weeks and throughout the remainder of 2008, Azumah is extremely well positioned to benefit from the growing wave of interest in advanced stage gold explorers and emerging gold producers that will continue to gather momentum as gold approaches the US$1,000 per ounce price level,” Mr Stone said.

 

Contact:

Stephen Stone

Executive Chairman

Tel: +61 (0)418 804564

stone@azumahresources.com.au

 

Competent Persons and Forward Looking Statements:

The information in this report that relates to Exploration Results is based on information compiled by Mr Bernard Aylward. Mr Aylward is the General Manager of Azumah Resources Limited. Mr Aylward is a Member of The Australasian Institute of Mining and Metallurgy and 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’. Mr Aylward consents to the inclusion in the report of the matters based on information in the form and context in which it appears. Statements regarding plans with respect to the Company’s mineral properties are forward-looking statements. There can be no assurance that the Company’s plans for development of its mineral properties will proceed as currently expected. There can also be no assurance that the Company will be able to confirm the presence of additional mineral deposits, that any mineralisation will prove to be economic or that a mine will successfully be developed on any of the Company’s mineral properties.

 

READ CORPORATE
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T: (+61-8) 9388-1474 | F: (+61-8) 9388-1472 | E: info@readcorporate.com.au | Web: www.readcorporate.com.au 

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Azumah Resources Limited

EN DÉVELOPPEMENT
CODE : AZM.AX
ISIN : AU000000AZM5
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Azumah Res. est une société d’exploration minière d'or basée en Australie.

Son principal projet en développement est WA au Ghana et ses principaux projets en exploration sont KUNCHE et BEPKONG au Ghana.

Azumah Res. est cotée en Australie. Sa capitalisation boursière aujourd'hui est 18,6 millions AU$ (12,4 millions US$, 11,5 millions €).

La valeur de son action a atteint son plus haut niveau récent le 05 novembre 2010 à 0,83 AU$, et son plus bas niveau récent le 02 août 2019 à 0,01 AU$.

Azumah Res. possède 582 569 984 actions en circulation.

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Présentations des Compagnies de Azumah Resources Limited
01/08/2007June 2007 Quarterly Report
Financements de Azumah Resources Limited
01/08/2016Converting Note Redeemed
20/06/2016Oversubscribed Placement & Share Purchase Plan
Nominations de Azumah Resources Limited
18/02/2010(Wa)Appointment Of Study Manager
Rapports Financiers de Azumah Resources Limited
27/07/2016Quarterly Activities Report
Projets de Azumah Resources Limited
22/09/2016EPA Public Forums Successfully Held
14/09/20165,500m Drilling Campaign Commences
09/05/2016(Wa)Major Capital Cost Reductions Reposition Wa Gold Project
15/01/2013(Wa)Azumah Increases Wa Gold Resources 32%
15/05/2012(Wa)Azumah Commences Detailed Engineering for Wa Gold Project
06/10/2011(Wa)Azumah hits gold at two new prospects in heart of Wa Gold Pr...
06/04/2011(Wa)More high-grade results underpin WA Gold Project
08/03/2011(Kunche)Kunche Set For Resource Upgrade After More Outstanding Infil...
06/07/2010(Wa)New zones of mineralisation found
28/05/2010(Wa)Drilling Extends Existing Deposits and Confirms Multiple New...
06/04/2010Set to increase resources after more strong drilling results
24/03/2010(Wa)Boosts Resources to Over 1.1 Million Oz Gold
09/03/2010(Wa)Set For Resource Upgrade
01/02/2010(Wa)Completes Acquisition Of Three New Licences
27/01/2010(Wa)High-Grade Drilling Results to Support Resource Upgrade at W...
19/01/2010(Wa)New Zones Of Mineralisation Confirmed At Wa Gold Project, Gh...
06/11/2009(Wa)Raises A$4.24M To Accelerate Development Of Wa Gold Project
27/10/2009(Wa)Commits to 41,000 Metre Drilling Campaign
21/08/2009(Wa)Preliminary Mining Studies Indicate Robust Operating Margins...
29/06/2009High-grade Gold Intersections at Collette and Julie
01/06/2009(Wa)to Proceed with WA Project Purchase
19/05/2009(Wa)to Raise $5.25M to Rapidly Advance Ghana Gold Projects
26/02/2009(Wa)Drilling Commences At Bepkong and Kunche West
04/09/2008(Wa)Maiden 212,000oz Gold Resource for Bepkong Deposit - Total W...
26/08/2008(Wa)Encouraging Kunche Metallurgical Results
17/07/2008(Wa)Outstanding Drill Results Continue At Bepkong
27/05/2008(Wa)Drilling Underway to Upgrade Wa-Lawra Gold Resource
09/04/2008(Wa) Drilling Extends Bepkong Strike Zone by 1.5km
25/03/2008(Wa)Drilling Extends New Bepkong Discovery
12/03/2008(Wa)Drilling Underway at Bepkong, Butele and Basabli
11/03/2008(Wa) Drilling Underway at Bepkong, Butele and Basabli
20/02/2008(Wa)Bepkong Gold Discovery Confirmed
Communiqués de Presse de Azumah Resources Limited
22/06/2016Investor Update Clarification
21/06/2016Share Purchase Plan Booklet
21/06/2016Notice under ASIC Class Order 09-425 Cleansing Notice
30/05/2016Change of Director's Interest Notice x 3
27/04/2016CDT - Assignment of Julie West Sale Agreement
01/02/2016Extension of Converting Note
25/01/2016CDT - Change in substantial holding from AZM
20/01/2016CDT: Final Director's Interest Notice
20/01/2016CDT: Initial Director's Interest Notice
19/01/2016CDT - Appointment of Company Secretary
19/01/2016CDT - Board and Management Changes
04/12/2015Change of Director's Interest Notice x 3
04/12/2015Appendix 3B
26/11/2015Results of Meeting
30/10/2015Quarterly Cashflow Report
30/10/2015Quarterly Activities Report
28/09/2015Annual Report to shareholders
28/09/2015Appendix 4G and Corporate Governance Statement
02/09/2015Investor Presentation ADU Sept 2015
23/08/2015Appendix 3B
14/07/2015New Gold Anomalies Confirmed
01/07/2015Appendix 3B
23/03/2015Company Presentation March 2015
22/03/2015Feasibility Study Update
12/03/2015New Gold Anomalies Confirmed For immediate Follow-Up
12/03/2015Half Year Accounts
09/12/2014Change of Director's Interest Notice x 4
20/11/2014Results of Meeting
24/10/20142014 Annual Report on Website and Addendum to Annual Report
23/01/2014Azumah to Cease Being a Reporting Issuer in Canada
21/01/2014Amended Quarterly Activities Report Clarifying Table 1
19/01/2014Quarterly Activities and Cashflow Report
09/01/2014Appendix 3B
09/01/2014Appendix 3Y x 3
10/12/2013Azumah Resources Limited: Voluntary Delisting From Toronto S...
26/11/2013Placement to Advance Feasibility Study
18/02/2013Argonaut Securities Research Report
12/09/2012High-Grade Results at Julie to Underpin Mineral Reserve Upgr...
19/07/2012Resource Increase Expected For Julie Deposit
19/06/2012(Bepkong)Depth continuity to over 200m confirmed at Kunche and Bepkon...
12/03/2012(Wa)Azumah Lifts Resources At Wa Gold Project
29/02/20121.5km Anomalous Gold Trend Confirmed Between Flagship Deposi...
27/02/2012Azumah Completes C$20 Million Raising
20/01/2012Azumah Undertakes C$20M Capital Raising
01/12/2011Feasibility Study On Track for Completion Early 2012
14/09/2011Argonaut Securities Research Report
13/09/2011Africa Downunder Video Investor Presentation
30/08/2011RBC Capital Markets Research Report
29/08/2011Azumah to list on TSX
25/08/2011Impressive Infill Results From Julie
10/06/2011Stake in Castle Minerals Ltd Increased to 15.23%
09/06/2011Numerous promising targets now being drilled as part of wide...
30/05/2011Azumah builds strategic stake in Castle Minerals
29/04/2011Quarterly Activities Report for the Period Ending 31 March 2...
27/07/2010Quarterly Report for the Period Ending 30 June 2010
21/06/2010Completes A$11.6M Raising to Grow 1.1Moz Resource Inventory
29/05/2010A$11.16M Institutional Placement
19/05/2010BGF Equities Research Report
29/01/2010December Quarter 2009 Operations Report
12/11/2009Commences Drilling At Wa Gold Project, Ghana
20/10/2009Board Changes
31/07/2009 June 2009 Quarterly Report
01/07/2009Blackswan Equities Research Report
03/03/2009Strengthens Dominant Position in North-West Ghana with New G...
21/01/2009December 2008 Quarterly Operations Report
01/09/2008Mineralisation Confirmed at Basabli and Kuo Targets
29/07/2008 Secures Support of Macquarie Bank as Substantial Shareholde...
28/07/2008June 2008 Quarterly Activities Report
29/04/2008Quarterly Activities Report
23/04/2008Executive Chairman Acquires a Further 3 Million Azumah Share...
20/08/2007 Multiple Gold Zones Identified at Kunche East
19/07/2007New Gold Zones Discovered Adjacent to Kunche Deposit
23/05/2007Drilling of New Gold Zones and Kunche Resource Extensions Co...
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