The Black Volta Gold Mine, one of Ghana’s most promising undeveloped gold belts, has the potential to yield 2.8 million ounces of gold, according to mineral exploration geologist Elvis Gota.

The project, recently acquired by Engineers & Planners Ltd., sits on a vast unexplored terrain covering 934 square kilometres, making it the largest gold belt in West Africa, about twice the size of Dubai.

Speaking on the development in a video shared online, Gota highlighted that the project has been evaluated using internationally recognised geological reporting standards, ensuring the defined reserves are reliable.

“The Black Volta Gold Project is reported through a geological system that aligns with international standards. These standards ensure that any serious mining exploration company can certify that the reserves are genuine,” Gota said.

Black Volta Gold Mine: Azumah Resources targets first gold pour in 21 months

Gota explained that the current estimate of 2.8 million ounces covers only a portion of the total resource area.

He noted that previous work by Azumah Resources Limited defined resources to a depth of 300 metres, leaving significant potential for further expansion.

“The forward-looking plan is to drill deeper beyond the 300 metres and explore areas that have yet to be assessed. There is very high potential to substantially increase the defined resources,” he added.

The Black Volta Gold Project is projected to have an 11-year mine life, producing approximately 150,000 ounces of gold annually over that period.

Gota noted that as exploration expands into the remaining areas, the resource base is expected to grow even further.

Located within Ghana’s northwestern belt, the Black Volta Gold Project has remained largely underexplored compared to the well-established southern gold belts, making it a strategic opportunity for both local and international investors seeking growth in the country’s mining sector.

Meanwhile, Azumah Resources has announced the commencement of full-scale construction after securing project financing, with site preparation and infrastructure works already underway.

The indigenous mining firm also says it plans to begin gold production within the next 21 months as it advances development of the Black Volta Gold Project in Ghana’s Upper West Region.

The mine is expected to significantly boost national gold output while delivering economic benefits to the host community, strengthening Ghana’s position as Africa’s second-largest gold producer and supporting wider regional economic growth.



MA

Understanding Ghana's stock market and how to invest | BizTech