Perth, Sep 8, 2008 AEST (ABN Newswire) - ABM Resources NL (ASX:ABU) Announce a 6.7 metre base metal sulphide zone intersected in hole ECD149 at King Prospect, Erayinia project with extensions to the Southern Lens confirmed by hole ECD149. Three of four diamond holes completed at King intersected massive and disseminated sulphide mineralisation with assay results awaited.
Project Background
The Erayinia Project is a 70:30 JV with Hawthorn Resources Limited (ASX: HAW) 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: Diamond Drilling Update
ABM Resources NL is pleased to announce that it has completed a four hole diamond tail and surface drilling program for 1,130m at the King Prospect to follow-up the very significant results of ECD132 of 4m @ 11.5% Zn and ED144 of 3m @ 7.5% Zn from the previous diamond drilling program completed in May. Massive and disseminated sulphide mineralisation was intersected in three holes. In ECD145, massive sulphide mineralisation was intersected from 305.1 to 305.6 metres downhole depth; ECD145 has also intersected an extremely large shear zone, with the majority of the core disrupted by folding, faulting and quartz-carbonate veining. This shear zone may have dislocated a part of the zinc rich sulphide lens.
In hole ECD147, a wider massive and disseminated sulphide zone was intersected between 405.0 and 412.0 metres. Drill hole ECD147 tested the vertical continuity of the massive sulphide zone in the 100 metre gap from the intersections in ECD56 (of 4.5 metres @ 6.71% zinc and ED116 of 5 metres @ 10.5% zinc). The zone intersected in ECD147 includes massive and banded pyrite, pyrrhotite and sphalerite.
A third diamond tail, ECD149 tested the down-dip projection of the intersection in ECD87 (7 metres @ 3.48% zinc) in the Southern Lens. Previous DHEM surveys had identified a conductor associated with drill hole ECD87 and adjoining ECD86. Diamond core hole ECD149 has intersected massive and disseminated sulphides between 422.9 and 429.6 metres in the Southern Lens of the King Prospect. This hole confirms the concept of the Southern Lens, first encountered in core holes ECD86 and ECD87, which is a "blind" mineralised zone coincident with an EM conductor centred about 350 metres below the surface and about 250 metres south of the main Northern Lens. In this respect, this conforms to the usual pattern of VMS deposits which may have several discrete sulphide bodies in the one "deposit."
The diamond drill core has not yet been assayed. However, sphalerite (zinc sulphide) is visually obvious and in places constitutes about 10% of the rock and is in association with pyrite and pyrrhotite (iron sulphides). Due to tectonism, the sulphides appear to have been remobilized. The sphalerite is partly interstitial with pyrite grains but, more often, is fine grained and occurs as flasers and irregular bands parallel to the prevailing foliation.
Drill core from holes ECD145 and ECD147 has been despatched to the Ultra Trace laboratory and assay results are awaited.
Table below details the massive and disseminated sulphide mineralisation intervals in drill holes ECD145, ED147 and ECD149.
--------------------------------------------------------Hole ID North East Total Massive and disseminated Depth sulphide mineralisation interval--------------------------------------------------------ECD145 6538740 484800 396 305.1 - 305.6 ECD147 6538640 484815 456 405.0 - 412.0ECD149 6538390 484780 441.1 422.9 - 429.6--------------------------------------------------------
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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