ASX-listed gold developer Azumah Resources has increased the combined mineral resource of its Wa gold project by 21%, or 433 900 oz, to 2.5-million ounces, adding to the expectations for attractive financial metrics for the Ghana project.
Azumah will update the ore reserves and financial metrics for Wa in an interim study, which will be published before the end of the year, ahead of a full feasibility study in the third quarter of 2019.
The mineral resources update includes maiden estimates for several emerging satellite deposit discoveries.
Measured and indicated mineral resources have increased by 16% to 1.6-million ounces – 28.8-million tonnes grading 1.8 g/t gold – and inferred mineral resources increased by 31% to 900 000 oz – 20.4-million tonnes grading 1.4 g/t gold. These mineral resources are distributed across the Kunche-Bepkong and the Wa East development camps.
Drilling down-dip and strike extensions at the Julie deposit had mineral resources increase by 191 000 oz to 1-million ounces, while drilling has increased mineral resources by 95 500 oz to 846 500 oz at the Kunche deposit.
Maiden estimates for the emerging Kunche Northwest, Yaga, Josephine, Manwe and Alpha-Bravo satellite prospects accounted for a combined 148 600 oz increase in mineral resources, with several of these yet to be fully closed off.
MD Stephen Stone said that the additional 148 600 of gold obtained from maiden estimates at several new discoveries pointed to the highly prospective nature of the project.