2300-1177 West Hastings Street, Vancouver, BC V6E 2K3; Tel: 604-638-3288 TSXV: ABS June 21, 2011 For Immediate Release NR11-06 Abzu Gold Commences 12,000m Drilling Program, Golden Reef Project– Asankrangwa Belt, Ghana (Vancouver, June 21, 2011) – Abzu Gold Ltd. (TSXV: ABS OTCQX: ABZUF) (“Abzu”) is pleased to report that it has commenced Phase 1 drilling on its Golden Reef concession, Asankrangwa Gold Belt, Ghana (Figure 1). The Company has scheduled up to 12,000m of combined Reverse Circulation (RC) and Diamond Core drilling for its Phase 1 program, the primary focus of which, is to test the depth extent of gold identified in surface samples on the Golden Reef, Mpatasie, U and N, and Asafo concessions. Drill holes will test for gold in quartz-carbonate veins beneath soil anomalies that are coincident with interpreted northeast- or northwest-trending structures (Figures 2 and 3). These targeted vein systems are anticipated to be analogous to those discovered by Keegan Resources at their Esaase deposit to the northeast and PMI Gold Corp.‟s Obotan Project to the southwest. Fences of drill holes will be drilled toward the southeast and northwest across the regional structures at - 55 degrees for an average depth of 150m. Figure 1. Location of Abzu concessions along the Asankrangwa Gold Belt.
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2300-1177 West Hastings Street, Vancouver, BC V6E 2K3; Tel: 604-638-3288
TSXV: ABS June 21, 2011 For Immediate Release NR11-06
(Vancouver, June 21, 2011) – Abzu Gold Ltd. (TSXV: ABS OTCQX: ABZUF) (“Abzu”) is
pleased to report that it has commenced Phase 1 drilling on its Golden Reef concession,Asankrangwa Gold Belt, Ghana (Figure 1). The Company has scheduled up to 12,000m of combined Reverse Circulation (RC) and Diamond Core drilling for its Phase 1 program, the primary focus of which, is to test the depth extent of gold identified in surface samples on the Golden Reef, Mpatasie, U and N, and Asafo concessions.
Drill holes will test for gold in quartz-carbonate veins beneath soil anomalies that are coincident with interpreted northeast- or northwest-trending structures (Figures 2 and 3). These targeted vein systems are anticipated to be analogous to those discovered by Keegan Resources at their Esaase deposit to the northeast and PMI Gold Corp.‟s Obotan Project to the southwest. Fences of drill holes will be drilled toward the southeast and northwest across the regional structures at -55 degrees for an average depth of 150m.
Figure 1. Location of Abzu concessions along the Asankrangwa Gold Belt.
Abzu Gold Ltd. June 21, 2011 NR11-06 – Continued
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Dr. Paul Klipfel, Abzu‟s President said, “We are very excited to begin drill testing these targets,
as they are part of a large, strong soil anomaly system that coincides with a series of northeast-
trending structures. Elsewhere in Ghana, similar northeast-trending structures host multimillion
ounce gold deposits which are the target of our exploration program.”
Approximately 25 Priority 1 drill holes (about one third of the Phase 1 program) are planned for
the Golden Reef and Mpatasie concessions and are currently in progress. These drill holes will
test for subsurface gold along structures with coincident soil anomalies within the 5 km x 3 km
Golden Reef West soil anomaly identified by Abzu in previously announced work (Figure 2; see
NR11-05, May 31, 2011). Pending positive results, further follow-up holes (Figure 3) will be
drilled to test the extent of other gold-bearing surface samples.
Abzu has contracted Geodrill Ghana Ltd., a well-respected drilling company that has worked in
Ghana since 1998 to provide drilling services. Current drilling is with a diamond core rig. Other
drilling will be with a multi-purpose rig capable of drilling both RC and diamond core holes or a
combination of the two so that some holes can begin with RC drilling and be completed with a
diamond core „tail‟.
Figure 2. Golden Reef location map showing previously announced soil geochemical anomaly
and location of Figure 3.
Abzu Gold Ltd. June 21, 2011 NR11-06 – Continued
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Figure 3. Proposed drill holes will test the depth extent of surface soil anomalies where they are
coincident with interpreted structures.
Project Highlights
The Golden Reef and Mpatasie concessions, along with the nearby U and N concession 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. This gold is intensely prospected and extracted from local
Abzu Gold Ltd. June 21, 2011 NR11-06 – Continued
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gravels by artisanal miners. The success of these miners speaks strongly about the amount of
gold which is derived from this area.
Abzu has an extensive and strategic land position in the Asankrangwa Gold Belt, a structural
zone 8-10 km 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 1 Moz Au. Recently, Keegan
Resources Inc. has announced a resource approximately 8 km northwest along strike from
Abzu‟s U and N concessions (Figure 1). PMI Gold Corp. is developing resources at its Obotan
Project which lies approximately 8 km southwest of the Mpatasie-Golden Reef concessions
(Figure 1).
Abzu has embarked on an aggressive strategy to explore the Mpatasie and Golden Reef
properties through a combination of soil and trench sampling and an aerial VTEM – magnetic –
radiometric geophysical survey (completed; final results pending). A trenching program is
currently in progress with three crews active.
Abzu plans further surface programs for its other concessions 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.
Dr. Klipfel has a PhD in economic geology and more than 33 years of relevant experience as a
mineral exploration geologist. He is a Certified Professional Geologist [CPG 10821] by the
American Institute of Professional Geologists.
Abzu Gold Ltd. June 21, 2011 NR11-06 – Continued
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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 onsite
supervision of the work program, including the QA/QC 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.
