Abzu Gold Expands Mpatasie/Golden Reef Drill Target to 5 Kilometres by 3 Kilometres Asankrangwa Belt, Ghana
May 11 2011 - 9:00AM
Marketwired
Abzu Gold Ltd. (TSX VENTURE: ABS)(OTCQX: ABZUF) ("Abzu") is pleased
to announce new positive results from a recently completed
1800-sample soil geochemical program on its Golden Reef concession
(Figure 1 & 2). The new results highlight a number of higher
grade surface anomalies that are on trend with previously defined
major mineralized structural zones such as Mpatasie where the
surface target area now covers an area 5 kilometres by 3
kilometres. Gold in samples ranges from below detection limit to
3.45 g/t with more than 5% of the samples containing greater than
or equal to 200ppb gold and 18% of the samples containing greater
than or equal to 50 ppb gold (Figure 2 & 3).
To view Figure One, please click the following link:
http://media3.marketwire.com/docs/abs_fig01.pdf
Abzu President Dr. Paul Klipfel states: "These follow-up soil
results are extremely encouraging and have dramatically expanded
the Mpatasie target into a major gold target which will be
addressed by our initial drill program to begin this month. The
significant number of samples in excess of 300 ppb gold is
impressive as these are grades commonly used for cutoff grade bulk
tonnage deposits and are clustering along know mineralized
structural trends enhancing our drill targeting".
To view Figure Two, please click the following link:
http://media3.marketwire.com/docs/abs_fig02.pdf
To view Figure Three, please click the following link:
http://media3.marketwire.com/docs/abs_fig03.pdf
Project Highlights
The Golden Reef and Mpatasie concessions, along with the nearby
U and N concession blocks to the north, lie along key structural
trends within the Asankrangwa Gold Belt. These individual
structural trends host gold-bearing quartz vein systems which
release gold into the surface environment upon weathering. These
gold trends have been intensely prospected by artisanal miners.
Abzu has an extensive and strategic land position in the
Asankrangwa Gold Belt, a structural zone 8-10km wide in the center
of the Kumasi Basin with numerous shears that host gold vein
systems. Past production from these vein systems is in the order of
1Moz Au. Recently, Keegan Resources Inc. has announced a resource
approximately 8 km northwest along strike from Abzu's U and N
concessions. PMI Gold Corp. is developing resources at its Obotan
project which lies approximately 8 km southwest of the
Mpatasie-Golden Reef concessions. Abzu plans to implement surface
work on this property in the coming months.
Abzu has embarked on an aggressive strategy to explore the
Mpatasie and Golden Reef properties through a combination of soil
and trench surface sampling and an aerial VTEM geophysical survey
(completed). A trenching program is currently in progress with
three crews active.
Abzu plans further surface programs for its other concession in
the Asankrangwa, Ashanti and Kibi Belts.
About Abzu
Abzu is a gold exploration and development company working in
Ghana, Africa's 2nd largest gold producer and host to some of the
world's largest gold deposits. Ghana has strong land title laws and
is one of the world's most mining-friendly jurisdictions. Abzu has
invested several years developing local and national relationships,
key to its strategic land position on over 360 square kilometres of
highly sought after and productive gold belts.
Qualified Person and Quality Control/Quality Assurance
Professional geologist (AIPG cert. # 10821) Dr. Paul Klipfel,
President and a Qualified Person as defined by National Instrument
43-101, has designed, planned, and supervised the work program at
Mpatasie, Golden Reef, and Asafo and is responsible for all aspects
of the work, including the quality control/quality assurance
program. Samples are collected systematically and in a consistent
manner. Sample bags are closed and sealed at the sample site and
kept secure in the care of field crews until delivered to the ALS
laboratory in Kumasi, Ghana for gold fire assay and ICP
multi-element analyses. ALS Chemex's quality system complies with
the requirements for the International Standards ISO 9001:2000 and
ISO 17025:1999. Analytical accuracy and precision are monitored by
inclusion of field duplicates (1:50) and reference standards (1:20)
into the sample stream. Dr. Klipfel is not independent of the
Company as he is an officer and shareholder.
Mr. Georgi Magaranov, a consulting economic geologist employed
by ET Geoart, is a Qualified Person as defined by National
Instrument 43-101, has also been responsible for design and
supervision onsite of the work program, including the QAQC program.
Mr. Magaranov has over 17 years of exploration experience working
for AngloAmerican plc, Rio Tinto Exploration, and other companies
in a range of geographic locations in Africa, Asia, Europe, and
South America for gold, copper and other types of mineral deposits
Mr. Magaranov is independent of the Company.
Dr. Klipfel has a PhD in economic geology and more than 32 years
of relevant experience as a mineral exploration geologist. He is a
Certified Professional Geologist (CPG 10821) by the American
Institute of Professional Geologists.
On behalf of the board of directors of
ABZU GOLD LTD.
Allan Serwa, Chief Executive officer
This news release contains certain forward-looking statements,
and such statements involve risks and uncertainties. The results or
events predicted may differ materially from actual results or
events. Any forward-looking statement speaks only as of the date of
this news release. Except as may be required by applicable
securities laws, the Company disclaims any intent or obligation to
update any forward-looking statement, whether as a result of new
information, future events or results, or any other occurrence.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this press release, which has been prepared by
management.
Contacts: Abzu Gold Ltd. Quentin Mai Manager, Corporate
Communications 604-638-3288 qmai@abzugold.com www.abzugold.com
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