Press release from CNW Group
Azumah Commences Detailed Engineering for Wa Gold Project
Tuesday, May 15, 2012
Appoints GR Engineering Services Limited
ASX / TSX & Media Release
ASX Code - AZM
TSX Code - AZR
- NI 43-101 and JORC Code reportable 1.02Moz Measured & Indicated and 0.66Moz Inferred Mineral Resource at Wa Gold Project, NW Ghana
- 100% of 3,100km2 licences hosting over 150km of prospective Birimian greenstone belt. Less than 10% effectively explored
- Feasibility Study nearly completed for multi-pit, +1.0Mtpa, ~100,000oz per year mining and gravity / CIL operation
- Aggressive $20M, 2012 drilling programme focused on resource discovery and increase
- 17% strategic investment in neighbour, Castle Minerals Limited
- Board and management team of successful explorers, mining and corporate professionals
333.6M ordinary shares
9.5M unlisted options
2.0M performance rights
Directors & Management:
Geoff M Jones
William (Bill) LeClair
TORONTO, May 15, 2012 /CNW/ - Azumah Resources Limited (ASX: AZM TSX: AZR) has appointed Perth based, ASX listed GR Engineering Services Limited (ASX:GNG) to undertake detailed design and engineering for Azumah's planned ~100,000 ounces per annum, Wa Gold Project, northwest Ghana.
"This appointment is consistent with Azumah's fast-track approach to bringing the Wa Gold Project into production in 2014 and reflects the Company's confidence following the recent resource upgrade and continuing exploration success" said Azumah Managing Director, Mr Stephen Stone.
GR Engineering has successfully designed, engineered, constructed and commissioned over ten projects in the past five years including several directly comparable to Azumah's Wa Gold Project and is active across West Africa (www.gres.com.au).
Azumah is expecting to report its maiden Mineral Reserve this June Quarter and is also looking forward to providing improved exploration results news flow following the commissioning of its own on-site sample preparation facility.
With an almost total drilling focus now directed to increasing resources, five drill rigs are presently testing for extensions to existing deposits and generating or evaluating new targets as part of the Company's $20 million, 2012 exploration commitment.
Azumah is also advancing the environmental permitting process and discussions for the provision of grid power to site, water licencing and other key project infrastructure items.
For further information on Azumah Resources Limited and its projects please visit Azumah's website at www.azumahresources.com.au and the Canadian SEDAR website.
Competent Person's Statement
The information in this report that relates to Exploration Results is based on information compiled by Mr Nick Franey, who a full-time employee (General Manager Geology) of Azumah Resources Ltd. Mr Franey is a Member of the Australian Institute of Geoscientists and 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 standard data verification processes, quality assurance and quality control measures, and details of the key assumptions, parameters and methods used to estimate the Mineral Resources set out in this report and the extent to which the estimate of previously declared 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", filed on 3 May 2012 with an effective date of 12 March 2012.
For further information on the Wa Gold Project in general please refer to the Company's website at www.azumahresources.com.au and sedar.com
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.
For further information:
Tel: +61 (0)418 804 564
Nicole Harrison - Australia
+61 (0) 451 184 148
Joanna Longo - North America
+1 416 238 1414