Game-changer 44 m at 5.37 g/t Au at Kunche, Ghana

Posted by Daniel Gleeson on 9th May 2018

Perth was abuzz this morning reports John Chadwick, who is there at the moment, with Azumah Resources latest drilling results from its Wa project.

• KRC831 returns continuously mineralised intercept of 44 m at 5.37g/t Au from 99 m (0.5g/t Au cutoff)
• Includes two high-grade zones comprising (1.0g/t Au cutoff): • 6 m at 3.33g/t Au from 99 m; and 27 m at 7.86 g/t Au from 116 m; including 20 m at 10.27 g/t Au from 120 m; and 1 m at 144 g/t Au from 137m
• Azumah appears to have discovered a new high-grade ore-shoot and possible primary feeder zone with likely extensive depth
• Discovery follows new breakthrough geological model that will drive future targeting
• Supporting holes into ore-shoot returned 27 m at 2.43 g/t Au from 137 m (KRC817); including 5 m at 5.00 g/t Au from 155m
• 9 m at 3.90g/t Au from 142m (KRC832); including 5 m at 5.33 g/t Au from 144 m
• Additional mineralisation defined at Kunche Pit North, east of Kunche Pit South and at Kunche North West
• Results to underpin material increases in Kunche Mineral Resource and Ore Reserve
• Six active drill rigs
• Intense drill results news flow planned May through to August

Azumah Managing Director, Stephen Stone said “These excellent intercepts are a genuine game-changer for the Wa gold project and increase our confidence that we can materially boost Mineral Resources and Ore Reserves”.

Paul L’Herpiniere, General Manager Geology of Azumah’s joint venture partner Ibaera, said “These drill results dramatically open up the possibility that mineralisation at Kunche could extend to considerable depth – consistent with similar style gold deposits around the world.

“We consider this validation of our new targeting model to be an important breakthrough for the project and are extremely confident that the true potential of the project is now emerging.”
Shares in the company closed up 56.5% yesterday.

Azumah Resources is focused on a highly prospective gold province in the Upper West Region of Ghana.

• 2.1 Moz Mineral Resource platform – $4 EV/Resource oz
• 624,000 oz @ 2.14 g/t Au Ore Reserve – $16 EV/Reserve oz
• 2,400 km2 regional-scale footprint in fertile Birimian terrain
• ~A$40 million drilling (10,000 drill holes for 500km)
• Several advanced stage/drill-ready targets
• Numerous quality early-stage targets
• Strong community and government support
• Largely de-risked for rapid development. Excellent infrastructure. Grid power to gate.