A R : Azumah Resources Inching Closer To Becoming A Gold Producer
North west Ghana gold explorer, Azumah Resources (ASX: AZM) has reported that open pit optimisation studies on Kunche and Bepkong gold deposits have returned "robust" operating margins.
Based on a one million tonne per annum mining operation and gravity / CIL processing plant, the desk top study revealed the WA Gold project in Ghana, could recover 300,000 ounces of gold from existing Kunceh and Bepkong resources.
This would generate an operating surplus of $138 million.
Total cash operating costs are estimated to be A$593/oz (US$483/oz) of gold recovered, reflecting the advantages of the close proximity of the Kunche and Bepkong Resources.
And the ability to access higher-grade, low strip ratio, near-surface oxide mineralisation at an early stage of operations.
Azumah Executive Chairman, Mr Stephen Stone said “recently completed preliminary open pit optimisation studies for the 100%-owned Wa Gold Project in Ghana confirm that Azumah is a step closer to becoming a gold producer.”
“On the strength of these robust results, we have commenced Scoping Studies and will accelerate drilling programmes to establish the critical mass of gold resources required to support what would be the first stand-alone commercial gold mining and processing operation in the emerging north west Ghana gold province,” Mr Stone added.
