ASX / TSX Media Release
ASX Code - AZM
TSX Code - AZR
www.azumahresources.com.au
Investment Highlights:
Issued Capital:
332.4M ordinary shares
9.5M unlisted options
2.0M performance rights
Directors& Management:
Chairman:
Michael Atkins
Managing Director:
Stephen Stone
Non-Executive Director:
Geoff M Jones
Company Secretary:
Dennis Wilkins
TORONTO, Feb. 28, 2012 /CNW/ -
Azumah Resources Limited ("Azumah" or the "Company") (ASX: AZM, TSX: AZR) reports that it has received encouraging intercepts from follow-up drilling between its adjacent flagship Kunche and Bepkong deposits that support the likelihood of the delineation of new, shallow open pitable resources close to the proposed location of its Wa Gold Project processing plant, northwest Ghana.
Results from recent drilling imply that mineralisation intersected at the Bepkong South and Aduane prospects may sit at either end of a 1.5km north-northwest trending zone of surface geochemical anomalism (Figure 1). Intercepts such as 10m @ 4.43g/t Au from 140m (BRC315) and 6m @ 2.78g/t Au from 23m (BRC361) suggest a continuity to the mineralisation.
This association of mineralisation with a north-northwest trend is already recognised at the northern end of Kunche, which hosts consistent mineralisation over 1.4km, and on the eastern margin of Bepkong. Other new mineralised intercepts such as 4m @ 10.33g/t Au from 47m (KRC593) and 4m @ 9.34g/t Au from 20m and offset from the Aduane trend, indicate the possibility for parallel or other mineralised structures.
This latest two-phase drill programme comprised a first phase of 29 reverse circulation (RC) holes for 3,174m directed at following-up specific intercepts from a previous drilling programme (refer ASX announcement dated 6th October 2011) that returned 14m @ 2.31g/t Au from 13m (KRC478), 16m @ 2.34g/t Au from 23m (KRC480) and 6m @ 15.60g/t Au from 53m (BRC230).
Phase two comprised 110 RC holes for 13,392m along fence lines spaced at 400m - 800m and orientated normal to the geochemical trend. It was designed to test for mineralisation along the geochemical anomaly and for mineralisation within the broader area between Kunche and Bepkong.
Best intercepts from the combined 139 RC holes for 16,566m (Tables 2 and 3) include:
"These results reinforce the Company's increasing belief that the Kunche and Bepkong deposits are components of a larger system of interconnected mineralised structures, and therefore the strong likelihood of an increase to the current Indicated Mineral Resource of 646,000 ounces of gold and Inferred Mineral Resource of 518,900 ounces of gold at the Wa Gold Project." said Azumah Managing Director, Stephen Stone.
"A new phase of RC drilling will commence shortly to evaluate continuity of the mineralisation and to follow-up other intersections off the main Aduane trend."
Target pipeline being extended
Several aircore drilling programmes are recently completed or underway to investigate broader gold anomalism at key prospects along the Kunche mineralised corridor including at Yagha North and South, Atikpi, Duri, and Basabli (Figure 2). Results are expected to help define new targets, which may need refinement by ground geophysics, prior to RC drill testing.
Kunche West IP anomaly tested
Results from a drill test (four diamond holes for 365m; and 15 RC holes for 1,523m) of the Kunche West gradient array IP anomaly proved disappointing, with the IP resistivity response interpreted as being due to felsic dykes, similar to those that intrude along the structure that hosts the Kunche deposit. Despite this result, gradient array IP is still considered to be the best available data set to map detailed structure.
New sample preparation laboratory to be installed shortly
Azumah's new sample preparation laboratory is due to be installed on site at its Kalsegra exploration head quarters in March. This unit is expected to greatly reduce assay turnaround times and to speed up exploration and decision making.
For further information on Azumah Resources Limited and its projects please visit the Canadian SEDAR website and Azumah's own website at www.azumahresources.com.au
Figure 1: Bepkong South and Aduane Prospects - Latest Drilling Results
Figure 2: Wa Gold Project - Key Deposits and Prospects
Table 1: Wa Gold Project - Statement of Mineral Resource Estimates - JORC Code & NI 43-101 Compliant
| Prospect | Indicated | Inferred | ||||
| Tonnes | Grade g/t Gold |
Contained Ounces Gold |
Tonnes | Grade g/t Gold |
Contained Ounces Gold |
|
| Kunche | 4,900,000 | 2.0 | 318,000 | 3,600,000 | 1.7 | 198,000 |
| Bepkong | 1,040,000 | 2.5 | 82,000 | 1,930,000 | 2.1 | 130,000 |
| Julie | 3,438,000 | 2.2 | 246,000 | 1,489,000 | 2.2 | 104,000 |
| Collette | 909,000 | 2.1 | 60,600 | |||
| Atikpi | 350,000 | 1.4 | 15,500 | |||
| Yagha | 270,000 | 1.2 | 10,800 | |||
| Total | 9,378,000 | 2.1 | 646,000 | 8,548,000 | 1.9 | 518,900 |
The Mineral Resources outlined in this report are JORC Compliant and compliant with the Mineral Resource and Reserve categories of the Canadian Institute of Mining (CIM) Definition Standard.
| Hole ID | East | North | Depth (m) | Dip | Azimuth | From (m) |
To (m) |
Width (m) |
Au (g/t) |
| Bepkong South: 4m composites | |||||||||
| BRC312 | 527231 | 1151227 | 96 | -50 | 90 | 36 | 40 | 4 | 2.25 |
| BRC325 | 526986 | 1151477 | 140 | -50 | 90 | 104 | 108 | 4 | 1.59 |
| BRC327 | 527014 | 1151500 | 173 | -50 | 90 | 48 | 52 | 4 | 1.77 |
| BRC329 | 527038 | 1151525 | 100 | -50 | 90 | 40 | 48 | 8 | 4.18 |
| BRC334 | 527123 | 1151600 | 100 | -50 | 90 | 76 | 80 | 4 | 1.54 |
| Bepkong South: 1m samples | |||||||||
| BRC307 | 527178 | 1151001 | 108 | -50 | 90 | 96 | 97 | 1 | 1.43 |
| 100 | 102 | 2 | 2.09 | ||||||
| BRC311 | 527115 | 1151201 | 163 | -50 | 90 | 113 | 115 | 2 | 1.91 |
| 120 | 121 | 1 | 1.92 | ||||||
| 146 | 147 | 1 | 3.2 | ||||||
| BRC314 | 527150 | 1151227 | 114 | -50 | 90 | 64 | 66 | 2 | 1.71 |
| 70 | 71 | 1 | 1.02 | ||||||
| BRC315 | 527123 | 1151125 | 160 | -50 | 90 | 140 | 150 | 10 | 4.43 |
| BRC317 | 527152 | 1151255 | 86 | -50 | 90 | 10 | 11 | 1 | 3.06 |
| 43 | 47 | 4 | 4.43 | ||||||
| 69 | 70 | 1 | 1.48 | ||||||
| 81 | 82 | 1 | 1.81 | ||||||
| BRC321 | 527069 | 1151476 | 162 | -50 | 90 | 27 | 30 | 3 | 9.17 |
| 136 | 137 | 1 | 1.32 | ||||||
| 140 | 141 | 1 | 1.64 | ||||||
| BRC326 | 527064 | 1151500 | 150 | -50 | 90 | 69 | 70 | 1 | 1.01 |
| BRC361 | 527323 | 1150905 | 120 | -50 | 250 | 23 | 29 | 6 | 2.78 |
| 78 | 80 | 2 | 1.03 | ||||||
| BRCD370 | 527498 | 1151007 | 191.7 | -50 | 250 | 179 | 180 | 1 | 1.18 |
| BRC402 | 527281 | 1151781 | 120 | -50 | 50 | 62 | 64 | 2 | 4.15 |
Table 2: Bepkong South - Latest RC Drilling Intercepts
| Hole ID | East | North | Depth (m) | Dip | Azimuth | From (m) | To (m) | Width (m) | Au (g/t) |
| Aduane: 4m composites | |||||||||
| KRC602 | 527515 | 1150576 | 70 | -50 | 90 | 8 | 12 | 4 | 1.03 |
| 52 | 56 | 4 | 1.68 | ||||||
| KRC642 | 527565 | 1150592 | 120 | -50 | 250 | 56 | 60 | 4 | 1.28 |
| KRC647 | 527791 | 1150695 | 120 | -50 | 250 | 76 | 80 | 4 | 1.37 |
| KRC648 | 527162 | 1154953 | 120 | -50 | 250 | 20 | 24 | 4 | 9.34 |
| Aduane: 1m samples | |||||||||
| KRC591 | 527402 | 1150225 | 70 | -50 | 270 | 14 | 17 | 3 | 2.06 |
| 40 | 41 | 1 | 1.55 | ||||||
| KRC592 | 527426 | 1150225 | 120 | -50 | 270 | 47 | 49 | 2 | 2.17 |
| 53 | 60 | 7 | 1.38 | ||||||
| 76 | 77 | 1 | 2.22 | ||||||
| KRC593 | 527297 | 1150225 | 70 | -50 | 90 | 23 | 24 | 1 | 1.64 |
| 47 | 51 | 4 | 10.33 | ||||||
| KRC600 | 527461 | 1150527 | 108 | -50 | 90 | 62 | 76 | 14 | 2.15 |
| KRC601 | 527438 | 1150530 | 120 | -50 | 90 | 106 | 109 | 3 | 1.48 |
| KRC602 | 527515 | 1150576 | 70 | -50 | 90 | 11 | 13 | 2 | 1.7 |
| 23 | 26 | 3 | 1.26 | ||||||
| KRC603 | 527490 | 1150577 | 90 | -50 | 90 | 7 | 12 | 5 | 1.53 |
| 16 | 17 | 1 | 1.58 | ||||||
| 23 | 24 | 1 | 1.42 | ||||||
| 27 | 28 | 1 | 1.07 | ||||||
| 35 | 36 | 1 | 1.52 | ||||||
| 59 | 60 | 1 | 1.25 | ||||||
| KRC604 | 527467 | 1150576 | 100 | -50 | 90 | 41 | 42 | 1 | 1.15 |
| 48 | 49 | 1 | 1.92 | ||||||
| 61 | 65 | 4 | 0.99 | ||||||
| 69 | 71 | 2 | 1.66 | ||||||
| 75 | 76 | 1 | 1.56 | ||||||
| KRC606 | 527500 | 1150625 | 118 | -50 | 90 | 4 | 10 | 6 | 1.61 |
| KRC607 | 527482 | 1150624 | 156 | -50 | 90 | 7 | 9 | 2 | 1.18 |
| 36 | 38 | 2 | 1.45 | ||||||
| KRCD608 | 527424 | 1150500 | 184 | -50 | 90 | 122.2 | 123.2 | 1 | 1.05 |
| 127 | 129 | 2 | 1.35 | ||||||
| 133 | 134 | 1 | 1.04 | ||||||
Table 3: Aduane - Latest RC Drilling Intercepts
| Hole ID |
East |
North |
Depth (m) |
Dip |
Azimuth |
From (m) |
To (m) |
Width (m) |
Au (g/t) |
| Aduane: 4m composites | |||||||||
| KRC602 | 527515 | 1150576 | 70 | -50 | 90 | 8 | 12 | 4 | 1.03 |
| |
52 | 56 | 4 | 1.68 | |||||
| KRC642 | 527565 | 1150592 | 120 | -50 | 250 | 56 | 60 | 4 | 1.28 |
| KRC647 | 527791 | 1150695 | 120 | -50 | 250 | 76 | 80 | 4 | 1.37 |
| KRC648 | 527162 | 1154953 | 120 | -50 | 250 | 20 | 24 | 4 | 9.34 |
| Aduane: 1m samples | |||||||||
| KRC591 | 527402 | 1150225 | 70 | -50 | 270 | 14 | 17 | 3 | 2.06 |
| 40 | 41 | 1 | 1.55 | ||||||
| KRC592 | 527426 | 1150225 | 120 | -50 | 270 | 47 | 49 | 2 | 2.17 |
| 53 | 60 | 7 | 1.38 | ||||||
| |
76 | 77 | 1 | 2.22 | |||||
| KRC593 | 527297 | 1150225 | 70 | -50 | 90 | 23 | 24 | 1 | 1.64 |
| 47 | 51 | 4 | 10.33 | ||||||
| KRC600 | 527461 | 1150527 | 108 | -50 | 90 | 62 | 76 | 14 | 2.15 |
| KRC601 | 527438 | 1150530 | 120 | -50 | 90 | 106 | 109 | 3 | 1.48 |
| KRC602 | 527515 | 1150576 | 70 | -50 | 90 | 11 | 13 | 2 | 1.7 |
| 23 | 26 | 3 | 1.26 | ||||||
| KRC603 | 527490 | 1150577 | 90 | -50 | 90 | 7 | 12 | 5 | 1.53 |
| 16 | 17 | 1 | 1.58 | ||||||
| 23 | 24 | 1 | 1.42 | ||||||
| 27 | 28 | 1 | 1.07 | ||||||
| 35 | 36 | 1 | 1.52 | ||||||
| 59 | 60 | 1 | 1.25 | ||||||
| KRC604 | 527467 | 1150576 | 100 | -50 | 90 | 41 | 42 | 1 | 1.15 |
| 48 | 49 | 1 | 1.92 | ||||||
| |
61 | 65 | 4 | 0.99 | |||||
| 69 | 71 | 2 | 1.66 | ||||||
| 75 | 76 | 1 | 1.56 | ||||||
| KRC606 | 527500 | 1150625 | 118 | -50 | 90 | 4 | 10 | 6 | 1.61 |
| KRC607 | 527482 | 1150624 | 156 | -50 | 90 | 7 | 9 | 2 | 1.18 |
| 36 | 38 | 2 | 1.45 |
||||||
| KRCD608 | 527424 | 1150500 | 184 | -50 | 90 | 122.2 | 123.2 | 1 | 1.05 |
| 127 | 129 | 2 | 1.35 | ||||||
| 133 | 134 | 1 | 1.04 |
||||||
Restriction
This news release does not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the ordinary shares in any state in which such offer, solicitation or sale would be unlawful. The ordinary shares have not been registered and will not be registered under the United States Securities Act of 1933, as amended (the "1933 Act"), or any state securities laws. Accordingly, the ordinary shares may not be offered or sold in the United States or to U.S. persons (as such terms are defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws or an exemption from the registration requirements is available.
Competent Person's Statement
The information in this report that relates to Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Mr Nick Franey who is a Member of the Australian Institute of Geoscientists. 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 Ore 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.
Forward-Looking Statement
This release contains forward looking information. Such forward-looking information is often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "expect" and "intend" and statements that an event or result "may", "will", "should", "could", or "might" occur or to be achieved and any other similar expressions. In providing the forward-looking information in this news release, the Company has made numerous assumptions regarding: (i) the accuracy of exploration results received to date; (ii) anticipated costs and expenses; (iii) that the results of the feasibility study continue to be positive; and (iv) that future exploration results are as anticipated.
Management believes that these assumptions are reasonable. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from those contained in the forward-looking information. Some of these risks, uncertainties and other factors are described under the heading "Risks Factors" in the Company's annual information form available on www.sedar.com. Forward-looking information is based on estimates and opinions of management at the date the statements are made. Except as required by law, Azumah does not undertake any obligation to update forward-looking information even if circumstances or management's estimates or opinions should change. Readers should not place under reliance on forward-looking information 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.
Image with caption: "Figure 1: Bepkong South and Aduane Prospects - Latest Drilling Results(CNW Group/Azumah Resources Inc)". Image available at: http://photos.newswire.ca/images/download/20120228_C7932_PHOTO_EN_10500.jpg
Image with caption: "Figure 2: Wa Gold Project - Key Deposits and Prospects (CNW Group/Azumah Resources Inc)". Image available at: http://photos.newswire.ca/images/download/20120228_C7932_PHOTO_EN_10501.jpg
Stephen Stone
Managing Director
Tel: +61 (0)418 804 564
[email protected]
Nicole Harrison - Australia
NWR Communications
+61 (0) 451 184 148
[email protected]
Joanna Longo - North America
Terre Partners
+1 416 238 1414
[email protected]
Share this article