Azumah Resources Limited: December Quarter 2011 Operations Report
Mineralisation Confirmed at Aduane and Bepkong South Prospects Between Flagship Kunche and Bepkong Deposits, Wa Gold Project, Ghana
(firmenpresse) - TORONTO, ONTARIO -- (Marketwire) -- 01/16/12 -- Azumah Resources Limited (TSX: AZR)(ASX: AZM) -
Corporate
Gold explorer and developer Azumah Resources Limited ("Azumah" or "the Company") is pleased to report solid progress on all key operational fronts at its Wa Gold Project, NW Ghana, during the December Quarter 2011.
The highlight was confirmation of mineralisation at the Aduane and Bepkong South prospects between the Kunche and Bepkong deposits. Best intercepts included:
The interpretation is that Kunche and Bepkong plus the newly discovered Aduane and Bepkong South mineralisation is all part of a larger inter-connected mineral system, controlled by north - north west trending structures.
Two follow-up drill programmes were completed during the Quarter at the Aduane and Bepkong South prospects to test this theory. In the first programme, 29 RC holes (3,174m) and one diamond hole (101m) were drilled at Aduane, and 31 RC holes (3,402m) and one diamond hole (100m) were completed at Bepkong South. Geological logging of these holes suggests that at least three mineralised zones of interest, which have previously been intersected, are continuous over strike lengths of at least 200m. A second follow-up drill programme of 110 RC holes (13,392m) and one diamond hole (95m) was recently been completed to further test the new model. Results are awaited.
Planned Infill Drilling Completed
The planned programme of infill drilling at the Kunche, Bepkong and Julie deposits (Figure 1) was completed with more excellent results returned (assay results not previously reported to the market are listed in Tables 2,3 and 4). Notable intercepts from Julie (Figure 2) and Kunche include:
Julie
Kunche
((i) Previously reported as 4 metre composites - refer ASX announcement dated 25th August 2011)
The Julie results confirm the presence of at least two high-grade pods of mineralisation at the eastern end of the 6km east-west trending Julie mineralised structure. Additional high-grade mineralisation is evident to the west of these pods and drilling continues to confirm continuity and to test for strike and depth extensions.
At Kunche and Bepkong a programme of deeper holes is planned to extend mineralisation below the base of the current resource.
Other Activities
During the December 2011 Quarter Azumah also:
Resource Growth Strategy
Azumah's focus in the 2011/12 season will shift to increasing Mineral Resources. This follows the completion last Quarter of the 2011 infill drilling programme for Mineral Resource updates and then maiden Mineral Reserves to be estimated for the Feasibility Study.
It is important to emphasise that the infill drilling programme to enable Mineral Resource updates was almost entirely focused on improving the confidence levels and the understanding of the continuity of mineralisation, especially at near-surface within the outline of preliminary pit designs.
Completed Mineral Resource updates are expected to result in a major improvement in the classification of Mineral Resources from Inferred to Measured and Indicated, especially within the preliminary pit outlines. Accordingly, major increases in overall Mineral Resources should not be expected.
Resource growth is expected to be achieved through the discovery of new deposits within Azumah's 3,200 km2 licence holding and delineating extensions to existing deposits, both along strike and at depth.
Kunche-Bepkong Brownfields Exploration
Exploration close to the Kunche and Bepkong deposits remains a priority given the high prospectivity of this still not fully explored area in which the planned +1.0Mtpa, less than 100,000ozpa gold plant will be located.
Ten RC holes (1,230m) were drilled to test the southern extension of the Kunche deposit, where mineralisation remains open. Holes were drilled on three traverse lines and were aimed to intersect the target approximately 100m below surface. Results are awaited.
Four diamond (365m) and 15 RC (1,523m) drill holes were completed to test the Kunche West gradient array IP anomaly. Assay results are awaited. Initial indications from logging suggest that the IP anomaly may be due to felsic dykes which are usually unmineralised.
Greenfields Exploration
Azumah drilled 950 aircore holes (34,986m) at the Yagha North and South prospects, to complete coverage of areas that had not been screened adequately by historical soil sampling due to variably thick alluvial cover. Results will be assessed to define new drill targets.
Similarly, 446 aircore holes (14,289m) were drilled at the historical Basabli prospect to define new exploration targets where previous RC drilling yielded several encouraging results, including 11m (at) 2.80g/t Au (BSRC006). A follow-up RC drill programme is planned.
An aircore drill programme commenced at the historical Duri prospect with five holes completed (119m) before the Christmas break.
In the Wa East area, Azumah also drilled 458 shallow auger holes (1,145m) on east and west strike extensions of the Kjersti prospect, which has been the target of recent galamsey (artisanal mining) activity. The auger programme of approximately 1,100 holes is planned to follow up anomalies previously identified by soil geochemical sampling.
Sample Preparation Facility To Be Installed
Azumah is committed to installing a dedicated sample preparation facility at its Kalsegra exploration headquarters to accelerate assay result turnaround times that last Quarter were an unacceptable 7-8 weeks and longer.
At the end of December, Azumah had more than 13,000 sample results outstanding.
Geological Interpretations
An interpretation of the high-resolution airborne geophysical data (magnetics and radiometrics) over the Wa-Lawra Belt, acquired over the past 18 months, was completed at 1:100,000 scale. This new map of the region will provide the geological context for future target generation and work programme planning. A similar interpretation is underway for the Wa East licences (Julie, Collette and Josephine). The geophysical data over that area is being supplemented by the use of spatially enhanced Landsat imagery to improve the interpretation of regolith as well as bedrock geology.
Corporate
Azumah has on issue 282,020,356 ordinary shares, 10,250,000 unlisted options and 2,000,000 performance rights.
As at the end of the reporting period, Azumah had cash and listed investments of $18.5M. This includes its strategic investment in neighbour Castle Minerals Limited (ASX: CDT), which increased to 15.29% (17,350,476 shares) and shares in Endeavour Mining Corporation (2,547,615 shares) following its recent merger with Adamus Resources Limited in which Azumah held a prior minority interest.
Planned Activity in the March 2012 Quarter
During the March Quarter 2012, the Company expects to:
Full details of the ASX releases on which the above summary is based (inclusive of associated figures and drilling results) are available from the ASX at , or on the Sedar website at , or from Azumah's website at .
To view Figure 1: Wa Gold Project - Key Deposits and Prospects, please visit the following link: .
To view Figure 2: Wa Gold Project - Recent Drilling Results, Julie Deposit, please visit the following link: .
To view Table 1: Wa Gold Project - Statement of Mineral Resource Estimates - JORC Code & NI 43-101 Compliant, please visit the following link: .
To view Table 2: Kunche - Final Infill Drilling Results (1m samples), please visit the following link: .
To view Table 3: Bepkong - Final Infill Drilling Results (1m samples), please visit the following link: .
To view Table 4: Julie - Final Infill Drilling Results (1m samples), please visit the following link: .
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.
For further information on the Wa Gold Project, please refer to the Company's NI 43-101 compliant technical report available on the Company's website at and .
Forward-Looking Statement
Certain statements in this report contain forward-looking information. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, among others, the results of future exploration, risks inherent in resource estimates, increases in various capital costs, availability of financing and the acquisition of additional licences, permits and surface rights. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statements were made, 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.
Contacts:
Azumah Resources Limited
Stephen Stone
Managing Director
+61 (0)418 804 564
NRW Communications
Nathan Ryan
+61 (0) 420 582 887
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Datum: 16.01.2012 - 23:28 Uhr
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