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Azumah Resources Receives Approval for $17 Million Earn-in Agreement at Wa Gold Project, Ghana

Published: November 17, 2017 |

The rapid approval shows Ghana's support for the future of its mining industry.

[Click image to enlarge]

Azumah Resources has received consent from the Ghana Minister of Lands and Natural Resources for its $17 million earn-in agreement at the Wa Gold Project in Ghana.

The funding earn-in agreement is with Perth-based Ibaera Capital Fund who can earn up to a 47.5 percent interest in two stages for an expenditure of US$13.5 million (~A$17 million).

Azumah is focused on exploring and developing its regional scale Wa Gold Project, which currently hosts 2.1 million ounces of gold grading 1.5 g/t.

Three main deposits have been discovered and extensively drilled at Kunche, Bepkong and Julie, as well as several satellite deposits.

“The rapid approval by the new Ghana Government of the transformational Azumah-Ibaera funding agreement is entirely consistent with its push to re-establish Ghana as West Africa’s preferred destination for exploration and mining,” said Stephen Stone, managing director.

“Ibaera’s highly experienced and accomplished technical team is now onboard and finalizing programs and budgets including for drilling aimed at boosting mineral resources and ore reserves and ultimately the delivery of a revised blueprint for funding and development of the Wa Gold Project,” added Stone.

The expanded management team has already commenced a comprehensive review of the current feasibility study for the project, a review of existing targets and is also generating new targets.

Source: Proactive Investors


About Azumah Resources
Azumah Resources Limited is a Perth-based, exploration company focused on a highly prospective gold province in the Upper West Region of Ghana, West Africa.

To stop by Azumah Resources’ website, CLICK HERE


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