Azumah Resources has hit a major milestone by achieving its goal of one million ounces in ore reserve at its Wa Gold Project. 

Finally releasing its long-awaited ore reserves upgrade and feasibility study upgrade announcement, the West African gold explorer and developer reported that ore reserves at the project, located in the upper west region in the far northwest of Ghana, had been boosted 65 per cent or 404,178oz to 1,028,178oz gold. 

According to Azumah, a feasibility study update based on ore reserves is now well advanced and has revealed a very robust 11-year operational mine life producing an average of 107,000oz gold per year in its first six years. 

Considering its low establishment capital intensity of US$114 ($81) per ore reserve ounce, the project has compared incredibly well with its operating peers. 

Azumah Managing Director Stephen Stone said the gold project had now transformed into an extremely compelling development opportunity. 

“The WA gold project is now well primed to be Ghana’s next commercial-scale gold mine, with mining leases already granted, EPA permits well advanced, grid power to site and the strong support of the Ghana government,” he said. 

“The remainder of 2019 will be dedicated to finalizing the feasibility study and putting everything in place for a development decision.

“We also have several opportunities to materially enhance the project, not at least through continued exploration of our vast 2400skm prospective tenure – and these are all being vigorously pursued.”