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Mining industry

Abzu Gold Ltd. Announces Positive Results from Soil Geochemical Program

Strategic Insights

— 1 min read

Abzu Gold Ltd. has announced encouraging results from a soil geochemical program on its Golden Reef concession in Ghana. The program, which consisted of 460 samples, has identified a new gold-bearing zone, Golden Reef East, with gold-in-soil samples ranging from below detection to 1.27 g/t gold. The zone is defined by two new structurally-controlled gold targets that are up to 3 km in length and 0.6 km wide. The company plans to conduct follow-up sampling and trenching to improve the definition of the anomaly prior to drill testing priority targets.

Key Takeaways:

  • Abzu Gold Ltd. has announced positive results from a 460-sample soil geochemical program on the Golden Reef concession in Ghana.
  • The program has identified a new gold-bearing zone, Golden Reef East, with gold-in-soil samples ranging from below detection to 1.27 g/t gold.
  • The zone is defined by two new structurally-controlled gold targets that are up to 3 km in length and 0.6 km wide.
  • The company plans to conduct follow-up sampling and trenching to improve the definition of the anomaly prior to drill testing priority targets.
  • Contact Financial Corporation has been retained to develop and execute a comprehensive marketing and investor communications program to raise awareness of the company.
  • 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.

Statistics:

  • 460 samples were collected from the soil geochemical program.
  • 17% of the samples contain greater than or equal to 50ppb gold.
  • 8 samples contain more than 0.3 g/t gold.
  • The zone is up to 3 km in length and 0.6 km wide.
  • The company 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.

Sources:

  • Abzu Gold Ltd. (TSX VENTURE: ABS)(OTCQX: ABZUF)
  • Marketwire via COMTEX, May 31, 2011
  • Paul Klipfel, President of Abzu Gold Ltd.
  • Georgi Magaranov, consulting economic geologist
  • Contact Financial Corporation
  • American Institute of Professional Geologists (AIPG)
  • International Standards ISO 9001:2000 and ISO 17025: 1999

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