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The ASX has granted Azumah Resources Limited () the suspension of its operations pending an announcement regarding the update of the progress of a feasibility study and a review. a reserve of ore.
The shutdown will remain in place until at the earliest of an announcement published on the market or the start of negotiations on Thursday, January 31st.
Azumah is developing a portfolio of gold exploration badets in Ghana, announcing this year a total JORC resource of 2,496 million ounces spread over 12 deposits of the Wa gold project.
Recent drilling extended the Wa's Kunche deposit at depth, intersecting 5 meters at 6.02 g / t gold 214 meters and 1 meter at 140.49 g / t 208 meters.
Bepkong, one of the Wa project's three main deposits with Kunche and Julie, is currently undergoing drilling tests for deep extensions.
READ: Drilling at Azumah Resources deepens high-grade gold mineralization
The Kunche deposit contains 846,500 ounces of JORC resources and is consistently mineralized on its 1.5 km north-south deposit.
Drilling is transforming the Kunche-Bepkong mining camp into a potential open pit operation that could completely underpin the proposed Wa project.
Subject to drilling and additional badessments, the possibility of underground mining in one or more of these pits is also emerging.
The scope of this feasibility study is based on the exploitation of a series of relatively shallow open land.
While it was proven that underground mining was viable in one of these areas, it would bring considerable value to the project as a whole.
READ: Azumah Resources confirms gold discovery with additional holes
The company has progressively developed the resource by exploring its 2,400 km2 of permits held in vast areas of Birimian terrain, the rocks that are home to most of West Africa's gold mines.
In addition to a feasibility study and revised financial parameters, Azumah plans to continue drilling and growing the Wa resource and is fully funded by a development decision in September 2019.
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