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VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 03/04/13 -- Abzu Gold Ltd. (TSX VENTURE: ABS)(OTCQX: ABZUF) ("Abzu" or the "Company") is pleased to announce the initial results from its ongoing drilling program at its flagship Nangodi gold project in Northern Ghana and a corporate update.
Highlights from initial results include:
----------------------------------------------------------------------------Hole ID From To Interval Grade (g/t) (m) (m) (m) Au----------------------------------------------------------------------------NGRD_031 53.4 92.6 39.2 1.16----------------------------------------------------------------------------including 71.6 91.6 20.0 1.43----------------------------------------------------------------------------including 59.7 62.7 3.0 2.81----------------------------------------------------------------------------including 71.6 86.6 15.0 1.60----------------------------------------------------------------------------
To date over 1,600 meters of the 5,000 meter program have been drilled in the ongoing drill program. Widespread alteration including quartz, albite, chlorite, carbonate, hematite, and minor sulphides have been encountered throughout all holes drilled to date and drilling is ongoing. Management expects to receive additional assay results in the near future and will publish the results accordingly.
Paul Klipfel, P. Geo. and President of Abzu, commented; "These initial results are very encouraging and enhance the existing drill data and are invaluable in support of ongoing mineralization model development. Further drilling currently underway will focus on determining the strike and depth extent of the mineralization intersected to date. We expect to have a resource model in place in 2Q 2013."
The drill program is designed to offer sufficient drill hole spacing for a resource estimation, as well as demonstrate the ore body's continuation along strike to the northeast and to depth. Abzu's geologists, together with its consultants, are modeling the Nangodi ore body utilizing historic results from AfricWest 1997 RC drilling (see below), Abzu results from the 2011 - 2012 exploration program and this year's drilling program, the results of which will provide the basis for a Q2, 2013 resource estimate as well as allow us to build our knowledge of the property and develop a stronger model for pre-feasibility work and to continue drilling for resource expansion.
Highlight Gold Intercepts in AfricWest Drill Results at Nangodi(i)
----------------------------------------------------------------------------Hole ID From To Interval Grade (m) (m)(ii) (m) (g/t) Au----------------------------------------------------------------------------NGRC004 0.0 118.0 118.0 2.39---------------------------------------------------------------------------- includes 40.0 118.0 78.0 3.31---------------------------------------------------------------------------- includes 51.0 98.0 45.0 4.80---------------------------------------------------------------------------- includes 84.0 97.0 13.0 12.28---------------------------------------------------------------------------- includes 84.0 85.0 1.0 48.87---------------------------------------------------------------------------- also includes 93.0 94.0 1.0 17.72---------------------------------------------------------------------------- also includes 96.0 97.0 1.0 60.20----------------------------------------------------------------------------NGRC005 40.0 60.0 20.0 1.04----------------------------------------------------------------------------NGRC006 23.0 40.0 17.0 0.55---------------------------------------------------------------------------- includes 23.0 26.0 3.0 2.21----------------------------------------------------------------------------NGRC009 1.0 53.0 52.0 3.29---------------------------------------------------------------------------- includes 4.0 5.0 1.0 66.70---------------------------------------------------------------------------- includes 24.0 53.0 29.0 2.95---------------------------------------------------------------------------- 65.0 83.0 18.0 1.78---------------------------------------------------------------------------- includes 72.0 83.0 11.0 2.26----------------------------------------------------------------------------NGRC012 39.0 40.0 1.0 0.38---------------------------------------------------------------------------- 76.0 77EOH 1.0 1.65----------------------------------------------------------------------------NGRC013 0.0 36.0 36.0 0.71---------------------------------------------------------------------------- 13.0 21.0 8.0 1.85---------------------------------------------------------------------------- 47.0 58.0 11.0 0.67----------------------------------------------------------------------------NGRC014 32.0 35.0 3.0 0.86---------------------------------------------------------------------------- 47.0 100EOH 53.0 0.98---------------------------------------------------------------------------- includes 47.0 50.0 3.0 1.93---------------------------------------------------------------------------- includes 53.0 60.0 7.0 3.03---------------------------------------------------------------------------- includes 57.0 58.0 1.0 12.20----------------------------------------------------------------------------NGRC015 0.0 2.0 2.0 0.32---------------------------------------------------------------------------- 6.0 11.0 5.0 0.92---------------------------------------------------------------------------- 24.0 35.0 11.0 1.08---------------------------------------------------------------------------- includes 24.0 31.0 7.0 1.59---------------------------------------------------------------------------- 39.0 48.0 9.0 1.05---------------------------------------------------------------------------- includes 42.0 44.0 2.0 3.01---------------------------------------------------------------------------- 52.0 66.0 12.0 1.42---------------------------------------------------------------------------- includes 59.0 61.0 2.0 4.51---------------------------------------------------------------------------- 80.0 93.0 13.0 0.22----------------------------------------------------------------------------NGRC016 0.0 13.0 13.0 1.07---------------------------------------------------------------------------- 16.0 25.0 9.0 0.34---------------------------------------------------------------------------- 30.0 39.0 9.0 0.68---------------------------------------------------------------------------- 43.0 58.0 15.0 0.60---------------------------------------------------------------------------- includes 50.0 55.0 5.0 1.11---------------------------------------------------------------------------- 63.0 68.0 5.0 0.50----------------------------------------------------------------------------NGRC017 26.0 55.0 29.0 2.65---------------------------------------------------------------------------- 57.0 67.0 10.0 0.79---------------------------------------------------------------------------- 71.0 76.0 5.0 1.30---------------------------------------------------------------------------- 84.0 109.0 25.0 3.12---------------------------------------------------------------------------- includes 84.0 87.0 3.0 6.12---------------------------------------------------------------------------- includes 89.0 94.0 5.0 5.76---------------------------------------------------------------------------- includes 96.0 99.0 3.0 6.71----------------------------------------------------------------------------NGRC018 74.0 132.0 58.0 2.30---------------------------------------------------------------------------- includes 74.0 98.0 24.0 3.70----------------------------------------------------------------------------NGRC019 0.0 6.0 6.0 0.67---------------------------------------------------------------------------- 25.0 32.0 7.0 0.35---------------------------------------------------------------------------- 58.0 96.0 38.0 1.41---------------------------------------------------------------------------- includes 60.0 67.0 7.0 3.50---------------------------------------------------------------------------- also includes 61.0 64.0 3.0 5.86----------------------------------------------------------------------------NGRC021 13.0 102.0 89.0 0.62---------------------------------------------------------------------------- includes 13.0 59.0 46.0 0.85----------------------------------------------------------------------------NGRC022 11.0 27.0 16.0 1.02---------------------------------------------------------------------------- 30.0 41.0 11.0 0.91---------------------------------------------------------------------------- 51.0 58.0 7.0 0.91---------------------------------------------------------------------------- 64.0 78.0 14.0 0.40----------------------------------------------------------------------------NGRC023 0.0 37.0 37.0 0.81---------------------------------------------------------------------------- includes 0.0 7.0 7.0 1.56---------------------------------------------------------------------------- 50.0 80.0 30.0 0.31----------------------------------------------------------------------------NGRC024 0.0 12.0 12.0 0.76---------------------------------------------------------------------------- 19.0 24.0 5.0 1.00---------------------------------------------------------------------------- 83.0 85.0 2.0 0.51----------------------------------------------------------------------------NGRC025 0.0 11.0 11.0 0.34---------------------------------------------------------------------------- 16.0 24.0 8.0 1.78----------------------------------------------------------------------------NGRC026 13.0 20.0 7.0 0.46---------------------------------------------------------------------------- 32.0 35.0 3.0 1.12---------------------------------------------------------------------------- 47.0 53.0 6.0 0.34----------------------------------------------------------------------------NGRC028 61.0 67.0 6.0 2.54----------------------------------------------------------------------------NGRC030 8.0 10.0 2.0 0.3---------------------------------------------------------------------------- 17.0 21.0 4.0 0.55---------------------------------------------------------------------------- 26.0 41.0 15.0 2.12---------------------------------------------------------------------------- includes 35.0 38.0 3.0 3.7---------------------------------------------------------------------------- 50.0 55.0 5.0 0.36----------------------------------------------------------------------------NGRC031 18.0 27.0 9.0 0.56---------------------------------------------------------------------------- 44.0 49.0 5.0 1.59---------------------------------------------------------------------------- 77.0 80EOH 3.0 0.34----------------------------------------------------------------------------NGRC033 1.0 18.0 17.0 0.54---------------------------------------------------------------------------- includes 1.0 7.0 6.0 1.18---------------------------------------------------------------------------- 73.0 79.0 6.0 0.41----------------------------------------------------------------------------NGRC035 69.0 99.0 30.0 1.43---------------------------------------------------------------------------- includes 74.0 87.0 13.0 2.43----------------------------------------------------------------------------NGRC036 26.0 67.0 41.0 1.42---------------------------------------------------------------------------- includes 27.0 30.0 3.0 8.41----------------------------------------------------------------------------(i) All data above is historic and was collected by AfricWest in 1997(ii)EOH denotes that hole ended in mineralization+ Insufficient drilling has been completed to estimate true thickness ofthis mineralization.++ These results are historic in nature and being from 1997 are not 43-101compliant. No sample material from this drilling campaign is available toAbzu for retesting, however, assays were done at a reputable laboratory andAbzu's 43-101 compliant 2011 drilling has confirmed the presence of goldover similar intervals and within an overall common mineralized envelope.
