Ashanti Belt
Abzu has 7 concessions within or near the Ashanti Belt (Figure 17). Four concessions, Asankare, New Abirem, Amuanda Praso, and Kwahu Oda are part of the Red Back portfolio of concessions. Nyafoman and Subriso (total 26.7 km2) are two separate blocks of one concession optioned from Jubilee Mining Company Ltd. Chia is 100% held by Abzu (excluding the 10% held by the Ghanaian government for all concessions) 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.