Azumah Raises A$5.25m For Ghana Gold Project

19 May 2009 (Last Updated May 19th, 2009 18:30)

Australia's Azumah Resources has raised A$5.25m through share placements to advance gold projects in north-west Ghana. The money will be used to speed up exploration, resource definition and project development at its Wa-Lawra project, after acquiring the mine from Crew Gold.

Australia's Azumah Resources has raised A$5.25m through share placements to advance gold projects in north-west Ghana.

The money will be used to speed up exploration, resource definition and project development at its Wa-Lawra project, after acquiring the mine from Crew Gold.

Exploration drilling will be aimed at extending the existing resources and testing high-priority targets to define new mineral resources, according to Azumah executive chairman Stephen Stone.

“This additional funding combined with our outstanding exploration targets and existing mineral resources will increase our ability to achieve our primary objective of delineating sufficient gold mineralisation to underpin a stand-alone, open-cut mining operation in north-west Ghana,” Stone said.

By staff writer