Perth, Mar 26, 2008 AEST (ABN Newswire) - ABM Resources (ASX: ABU) Announce that follow up rock chip sampling shows rock chip assays of up to 30.1g/t Au from the Mimosa Gold Project. An up to 8,000m RC drilling program is scheduled to commence by mid April to test quartz vein targets within a regional gold bearing structure.
Mimosa Gold Project Background
ABM Resources NL's (59.33/40.67 JV with Ayr Resources Mozambique Limitada) highly prospective Mimosa gold project is located in the under-explored Archean greenstone belt of the Manica Province in central Mozambique, approximately 800 kilometres north of the Mozambique capital of Maputo.
Mimosa lies in the east-west trending Odzi-Mutare Greenstone Belt which has historically produced an estimated 2.5 million ounces of gold. Local artisanal miners have been mining gold in sheeted quartz veins and stockworks at Mimosa by hand for approximately 20 years. The project consists of three concessions totalling 960 hectares.
Follow up Rock Chip Sampling Program
A follow up rock chip sampling program (first assay results released 14 February 2008) completed at the Mimosa JV Gold Project in Mozambique during February 2008 has returned anomalous results with better results of 4.23 g/t and 30.1g/t Au. The follow up sampling program was designed to collect samples as part of the geological mapping of the project area and also collect samples from an area where previous samples had been damaged during shipment late last year.
Detailed Geological Mapping and Proposed RC Drilling Program
A program of detailed geological mapping to understand the lithologies and structure of the Mimosa project area is still underway. The gold bearing structure strikes approximately ENE. Holes are scheduled to be placed on an E-W grid and angled to the south to intersect the regional structure controlled quartz veins (dipping steeply to the north), and more localised shallow dipping veins. As the first phase of drilling commences, a series of trenches will be dug between the Mimosa pits and the adits. A combination of data collected from these trenches, plus our further understanding of the geology, will aid the planning of drill holes in this poorly exposed area.
ABM Resources entered into a formal Cooperative Agreement with AYR Infrastructure in May 2007 with the objective of securing high quality gold and other mineral projects in Mozambique and Zambia with a view to outlining significant mineral deposits.
AYR Infrastructure Development (AID) is a global consulting and development organization developing sustainable infrastructure in the emerging markets around the world.
The information in this Report that relates to Exploration results is based on information compiled by Harjinder Kehal who is a member of the Australasian Institute of Mining and Metallurgy. Mr Kehal is a Consultant Geologist with over 20 years experience.
Mr Kehal has sufficient experience which is relevant to the style of mineralization and type of deposit under consideration and to the activity for which he is undertaking to qualify as a Competent Person as defined in the 2004 edition of the Australasian Code for Reporting of Exploration results, Mineral Resources and Ore Reserves. Mr Kehal consents to the inclusion in the report of the matters based on his information in the form and context in which it is used.
About ABM Resources NL
ABM Resources (ASX:ABU) is developing several gold discoveries in the Central Desert region of the Northern Territory of Australia. The Company has a multi-tiered approach to exploration and development with a combination of high-grade production scenarios such as the Old Pirate High-Grade Gold Project, large scale discoveries such as Buccaneer, and regional exploration discoveries such as the Hyperion Gold Project. In addition, ABM is committed to regional exploration programs throughout its extensive holdings including the alliance with Independence Group NL at the regional Lake Mackay Project.
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