Perth, June 26, 2008 AEST (ABN Newswire) - ABM Resources NL (ASX:ABU) Announce a 1200 metre RC Drilling program has commenced at the King Prospect with Joint Venture Partners, Hawthorn Resources (ASX:HAW).
Project Background
The Erayinia Project is a 70:30 JV with Hawthorn Resources and is located approximately 150 km east south east of Kalgoorlie within an Archaean greenstone belt at the southeast margin of the Yilgarn Craton. Exploration carried out 14 years ago identified copper-zinc mineralisation in a possible Volcanic Massive Sulphide (VMS) environment. Focused exploration initiated by ABM Resources from 2005 onwards has confirmed the presence of a VMS zone (King Prospect). A total of 25 drill targets have been identified within a 40 km long greenstone belt at Erayinia based on geophysical and geochemical anomalism. ABM is now intensifying its exploration drilling programs to determine the size and economic potential of its King Prospect and the broader project area.
King Prospect - RC drilling
Following on from the announcement by ABM on 10 June 2008 of a high grade intercept of 4 metres at 11.6% zinc at King in drill hole ECD132 , the company is pleased to announce that it has commenced an RC drilling program of pre-collars of approximately 1200m. These pre-collars will be used for the next program of diamond drilling which has been planned to test the northern extension of the Northern Lens and follow up drilling at Southern Lens at King.
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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