Azimuth Resources releases West Omai maiden resource

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THE DRILL SERGEANT: Azimuth Resources has announced a maiden JORC-code and National Instrument 43-101 compliant gold resource estimate for the Smarts and Hicks deposits at the company’s West Omai gold project in Guyana.

The overall Inferred Mineral Resource estimate at West Omai for both the Smarts and Hicks deposits has come in at:

–    12.4 million tonnes at 3.1 grams per tonne gold for total contained ounces of 1.22 million ounces.

The Inferred Mineral Resource estimate for the Smarts deposit is:

–    5 million tonnes at 4.6g/t goldu for 748,000 ounces contained gold.

The resource estimate was compiled from results of a drilling campaign the company completed to mid-April 2012.

 

Mineral Resources – West Omai Projects, Guyana – minimum 0.5g/t gold cut-off grade. Source: Company announcement

“Both deposits remain open at depth, while along strike, structures which host both deposits remain open in both directions albeit with low grade to sub economic mineralisation but with potential to host as yet unknown higher grade pods and shoots,” Azimuth Resources said in its ASX announcement.

“The resource estimate represents a major milestone for Azimuth and the estimation took into account a total of 94,410 metres of drilling and trenching across both the Hicks and Smarts deposits.

“The high grade of the overall resource and in particular the Smarts deposit combined with the clean metallurgy and near surface position of the deposits represent a solid foundation for the company’s goal of building a large resource inventory of high quality gold deposits for development.”

Azimuth said it intends continuing with an aggressive four rig drilling program.

This will entail two rigs operating at Smarts, with which it will target resource extensions while the other rigs will be working up numerous new prospects at West Omai.

The company has a further air core rig currently scout drilling more regional targets, in particular focussing on under-cover extensions of the interpreted Smarts structure.