Asafo

• 3 target areas with coincident surface geochemistry, structures identified with geophysics, and historic drill intercepts.
• Extensive surface soil anomalies along belt-margin structures; 2 - 6 km in length and up to 1.4 km wide.

The Asafo concession is located along the eastern margin of the Kibi-Wineba Belt (Figure 6), an area believed to be one of the earliest locations for gold production in Ghana and the site of extensive alluvial gold workings  (Griffis, et al., 2002). Drainages along the flanks of the adjacent Atewa Range were the site of extensive alluvial operations from 1898 through the early 20th century.

Mapped rocks within the concession include Birimian mafic volcanics in contact with Birimian sedimentary rocks intruded by Basin type "granite" to the southeast. To the northwest, Tarkwaian quartzitic sedimentary rocks overlie the volcanics (Figure 7). Approximately 60% of the concession is underlain by basin-type granitic intrusion.

In the 1920s, the multi-level Kibi Mine was developed along narrow high-grade veins to a depth of 160 feet reportedly produced approximately 200,000 ounces of gold. The Kibi mine lies approximately 5 km west of the concession.

Since 2001, when the Asafo concession was first granted to Eastern Mining, stream sediment sampling was performed by Normandy Mining Co before acquisition by Newmont Mining Co in 2002.  Newmont evaluated the area with a soil sampling program and follow-up drilling.  Their results reveal multiple anomalous trends in surface samples with values up to 864 ppb Au and consistent values over 100 ppb. Anomalies overlie inferred sheared contact zones typical of the setting where known gold vein mineralization commonly occurs.

Data from 26 drill holes reveals numerous multi-meter intercepts with > 1 g/t Au, including 1 m @ 32.81 g/t Au, 14 m @ 1.06 g/t Au, 15 m @ 0.6 g/t Au, and 20 m @ 0.67 g/t Au.

In early 2011, Abzu completed an aerial VTEM, magnetic, and radiometric geophysical survey of the concession (Figure 8).  Results reveal:

1. important structures in the northwest corner of the concession coincident with the strongest surface sample results and Newmont drill intercepts (Figure 9).  Target 1.
2. A strong magnetic linear oblique to the trend of the belt with overlying coincident anomalous surface samples (Figure 9).  Target 2.
3. A 3 x 4 km oblate intrusive body with partial ring structures around the margin and overlying coincident anomalous surface samples (Figure 9).