RSS UpdatesCompany Information for Azumah Resources Ltd
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 AIM; AZM
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Company Statement
Azumah Resources Limited (ASX: AZM) is an Australian-based company focused on the exploration and development of the 100%-owned Wa Gold Project in northwest Ghana, West Africa.
The Wa Gold Project contains a JORC compliant Indicated and Inferred resource of over 754,000 ounces of gold - including 516,000oz at the Kunche deposit and 212,000oz at Bepkong, with a large number of exciting additional targets now being drilled.
Current Operations
Wa Gold Project
The Wa Gold Project is located in northwest Ghana, West Africa, and covers a total land holding of 2,857 km2, including over 100km of strike of prospective Birmian greenstone belt - a geological setting known to host world class gold deposits throughout Ghana and West Africa.
Wa Project Highlights:
- Land holding of 3,157 km2, including over 100km strike of prospective Birimian greenstone belt - a geological setting known to host world class gold deposits throughout Ghana and West Africa.
- Gold resource at the Kunche deposit of 8.5 million tonnes @ 1.9g/t gold for 516,000 ounces, with the mineralisation remaining open in all directions.
- Initial metallurgical results indicate recoveries of over 90% on typical resource-grade Kunche mineralisation using conventional gold processing technology.
- Between 25% and 40% of the gold is likely to be recoverable using a preliminary gravity separation phase, which should impact favourably on bottom line operating costs.
- Gold resource at the Bepkong deposit of 2.97 million tonnes @ 2.2g/t gold for 212,000 ounces, with mineralisation remaining open to the north and at depth.
- Recent acquisition of the nearby Wa Project, including several advanced-stage, drill confirmed targets with strong potential for near-term, low-cost, near-surface resource delineation.
- Considerable exploration upside, with numerous defined targets and untested geochemical gold anomalies.
Azumah's aim is to upgrade this initial resource base to 1-2 million ounces of gold to underpin a long-life open pit mining operation.
Bepkong Resource
Maiden JORC Code reported Indicated and Inferred Mineral Resource estimate for Bepkong deposit of 2,970,000 tonnes grading 2.2g/t gold for 212,000 ounces
- 40% of contained gold in Indicated category grading 2.5g/t gold
- Entire Mineral Resource is contained between surface and 175m depth
- 25% is oxide mineralisation grading 3.0g/t gold
- Mineral Resource remains open at depth and to the north, with drilling to recommence in October
Geographical Spread
Ghana, West Africa
Board of Directors and Key Management
| Michael Atkins – Chairman |
| Mr Atkins is presently Director – Corporate Finance at a leading Australian financial services and stockbroking firm, Patersons Securities Limited, and provides corporate advisory services covering mergers and acquisitions, capital raising and debt financing. |
| He is also currently Non-Executive Chairman of ASX-listed gold companies Westgold Resources NL and Legend Mining Limited, and a Non-Executive Director of Matsa Resources Ltd. |
| He has been involved with the formation of, capital raising for, and executive management of many emerging ASX-listed Australian companies with operations in SE Asia, Africa, North America and Australia with a particular focus on the minerals and petroleum sectors. This included founding |
| Executive Chairman of ASX listed Gallery Gold Ltd, since taken over by Iamgold Corporation, that discovered and operated the 100,000 ounces per annum Mupane gold mine in Botswana. |
| Stephen Stone – Managing Director |
| Stephen Stone graduated with honours in Mining Geology from University of Wales, Cardiff College and has 30 years operating, management and corporate experience in the international mining and exploration industry, including several years in central Africa and 20 years as chief executive of several Australian publicly listed exploration companies. |
| Stephen is a member of the Australasian Institute of Mining and Metallurgy, a Fellow of the Australian Institute of Company Directors and a non-executive director of Avalon Minerals NL. |
| Geoff M Jones – Non Executive Director |
| Mr Jones is an engineer with over 25 years hands-on experience in the evaluation, design, development, commissioning and operation of major resource projects in Australia and overseas, especially in Central and West Africa, including Ghana. |
| He was Group Project Engineer for ASX-listed Resolute Limited with responsibility for the successful development of its Obotan Gold Project in Ghana, Golden Pride Gold Project in Tanzania, as well as |
| the Chalice and Bullabulling Gold Projects in Western Australia. For all of these projects, his involvement ranged from feasibility study preparation through to development, commissioning and |
| operations. |
| Bernard Aylward – General Manager |
| BSc (Hons – Geology) MAusIMM |
| Mr Aylward is an Honours graduate in Geology from the University of Melbourne with over 15 years experience in the mineral exploration industry. Mr Aylward commenced employment as an Exploration Geologist exploring for diamonds in the Pilbara and Yilgarn districts of Western Australia. In 1996, he joined Sons of Gwalia Limited commencing in the Southern Cross district as a Project Geologist and, in 2000, transferred as Senior Exploration Geologist to the Laverton district. As Senior Geologist in the Laverton area, Mr Aylward was directly involved in the exploration and drilling and expansion of the Safari Bore resource and the Deep South discoveries. |
| Mr Aylward joined Croesus Mining NL as Senior Exploration Geologist in 2002, and in July 2004 was appointed Exploration Manager. |
| Mr Aylward joined the Azumah Board in October 2005 as a Non-executive Director, and was appointed General Manager of Azumah Resources in January 2008. |
| Dennis Wilkins – Company Secretary |
| Dennis Wilkins is the principal of DWCorporate, a specialist provider of corporate services to the resources sector. Mr Wilkins has been a director and company secretary of, or acted in a corporate consulting capacity, to listed resource companies for over 20 years. He also spent five years working for a private merchant bank in the United Kingdom, together with resource postings to Indonesia, South Africa and New Zealand in managerial roles. |
| Mr Wilkins was appointed Company Secretary on 19 July 2005. |
Company AddressSuite 1, 2 Richardson St
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Additional Address/Key ContactStephen Stone |
Capital160.10M (undiluted) Options (unlisted);13.25M |
Annual General MeetingNovember, Perth | Year End30 June |
Major Shareholders
| Macquarie Bank Limited | 15.1% |
| HSBC Custody Nom Aust Ltd | 7.3% |
| ANZ Noms Ltd | 6.8% |
| Trailstar Ltd | 3.3% |
| Bluesky Resources Ltd | 3.1% |
| Top 20 | 57% |
| Board & Man | 3% |
Related News
11/03/10 - Azumah’s Wa Project In Ghana Has Multi-Million Ounce Potential29/10/09 - Azumah Is At The Cutting Edge Of Development In The New Gold Province Of North-West Ghana
29/06/09 - Azumah Resources Heads Towards Production, As The Latest Drill Results From The Wa Project In Ghana Come Up Trumps
03/03/09 - Azumah’s Acquisition Of Crew Gold’s Ghanaian Ground Should Take It Over The One Million Ounce Mark
01/09/08 - Less Green And Red Tape In Ghana Means Azumah Resources Can Work Its Kunche Gold Project Up Quick Smart
13/02/08 - Azumah Rebuilds After A Horrid Start
Most Recent Statement
09/03/10 - Azumah Set for Resource Upgrade18/02/10 - Appointment of Study Manager Wa Project Ghana
01/02/10 - Completion under Acquisition agreement and Appendix 3B
29/01/10 - DECEMBER QUARTER 2009 OPERATIONS REPORT
27/01/10 - High-Grade Drilling Results to Support
19/01/10 - Drilling Update - New Zones of Mineralisation