Abzu Gold Ltd.
Abzu Gold Ltd. 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 500 square kilometres of highly sought after and productive gold belts.
The company was formerly known as Totem Minerals Inc. and changed its name to Abzu Gold Ltd. as a result of its acquisition of Abzu Resources Ltd. in December 2010.
Abzu Gold Ltd. is based in Vacouver, Canada.
Abzu Gold Ltd. has two concessions, Nangodi and Yameriga in the Bole-Nangodi Belt. Nangodi Main is Abzu’s principle target among numerous drill-ready targets. Nangodi Main features mineralized intercepts within a zone 1.2 km long up to 60m wide.
These concessions host the most advanced targets among the portfolio of 10 concessions currently under option agreement with Red Back Mining Ghana Ltd, a wholly owned subsidiary of Kinross Gold Corporation. Numerous targets ranging from soil anomalies to drill intercepts have been identified by past explorers.
The concessions lie along three of Ghana’s major gold-bearing belts; the Bole-Nangodi, the Sefwi, and the Ashanti Belts, and significantly expands Abzu’s portfolio to more than 1,100 km2 from 350 km2.
Addition of these concessions to Abzu’s portfolio distributes Abzu’s exploration opportunity over a strategic range of geologic environments and places Abzu as one of Ghana’s leading explorers in terms of landholding size.
Abzu is focused on the Nangodi Main target where gold in quartz stockwork and veins was previously evaluated by Africwest drilling in the mid-1990s. It is also the site of a 1930’s vintage underground mine that produced gold at an average grade of ~26 g/t gold.
Historical drill intercepts have intersected gold mineralization along a strike distance of 1.2 kilometres with true widths up to 60m. Mineralization is currently open in all directions. Bedrock artisanal mining along this zone currently recovers gold.
olden Reef / Mpatasie / U&N
The 100% Golden Reef , Mpatasie , U&N concessions are located within the Kumasi basin, a 60-75 km wide belt of folded metasedimentary rocks. This basin is fault-bounded to the southeast and northwest by volcanic rocks of the Ashanti and Sefwi belts respectively. Weakly metamorphosed sedimentary rocks of the Kumasi Basin form a thick monotonous sequence of thinly to thickly interlayered shale, siltstone, sandstone, and wacke.
Medial to the Kumasi Basin is the Asankrangwa Belt, a 5-10 km wide swath of northeast striking, steeply northwest dipping shear zones, minor intrusions, and gold-bearing veins. These shear zones are similar to the ones that form the Belt-Basin margins and similarly host gold mineralization. This is an emerging belt of mineralization, which is rapidly gaining recognition as more gold is found.
In early 2011, Abzu collected ~2000 soil samples along the western and eastern sides of the Golden Reef concession. The western survey successfully expanded the existing Mpatasie anomaly to an area approximately 5 km x 3 km. The eastern survey identified a new region of anomalous gold at surface along zones up to 3 km long and 0.6 km wide.
Abzu Gold Ltd. has 7 concessions within or near the Ashanti Belt. Four concessions, Asankare, New Abirem, Amuanda Praso, and Kwahu Oda are part of the Red Back portfolio of concessions. Nyafoman and Subriso are two separate blocks of one concession optioned from Jubilee Mining Company Ltd. Chia is 100% held by Abzu and lies outboard of the Ashanti Belt, but along parallel or splay structures. All of these concessions are in the vicinity of Newmont’s Akyem deposit.
All of the concessions except Chia have been previously explored by Red Back and Newmont in a previous joint venture with Red Back. Regional stream sediment and BLEG sampling along with analysis of catchment basins, and regolith cover led to local soil surveys and subsequent follow-up with trenching and shallow RAB or Aircore drilling.
Local IP surveys have also been completed. This work led to the discovery of multiple targets including soil anomalies, trench, and drill hole multi-meter, multi-gram intercepts.