ABM Resources NL (ASX:ABU) Releases Details On Northern Tanami Targets Hyperion Gold Project
Perth, Mar 10, 2010 AEST (ABN Newswire) - ABM Resources NL (
ASX:ABU) is pleased to present further results compiled and validated from its regional exploration portfolio and database for the Northern Tanami Project Area in the Northern Territory including:
- Hyperion Gold Project - a 2 kilometre by 500 metre gold anomaly with central drilled zone of 500m strike length and drill results including:
-- 60m @ 2.57g/t gold (at 0.3g/t cut-off) ending in mineralisation including
- 16m @ 3.51g/t gold (at 1.0g/t cut-off)
- 21m @ 4.57g/t gold (at 1.0g/t cut-off)
-- 28m @ 5.07g/t gold (at 0.3g/t cut-off) including
- 13m @ 10.41g/t gold (at 1.0g/t cut-off)
-- 51m @ 1.92g/t gold (at 0.3g/t cut-off) including
- 29m @ 3.18g/t gold (at 1.0g/t cut-off)
-- 35m @ 2.75g/t gold (at 0.3g/t cut-off) including
- 21m @ 4.07g/t gold (at 1.0g/t cut-off)
- Grange Gold Project - two individual gold anomalies over combined strike length of 4.5 kilometres with drill results including:
-- 3m @ 8.53g/t gold (at 1.0g/t cut-off)
-- 3m @ 6.42g/t gold (at 1.0g/t cut-off)
-- 3m @ 5.76g/t gold (at 1.0g/t cut-off)
- Soldier Gold Project - 2 kilometre by 1.5 kilometre regolith gold anomaly remaining untested in fresh-rock.
Managing Director, Darren Holden said, "The Northern Tanami Projects are a great complement to our growing portfolio of advanced targets. In particular, Hyperion requires only a small amount of additional drilling to get to resource definition stage. Combining these projects with the Company's previously announced Twin Bonanza Gold Project along with the Stafford Gold Zone in the Reynolds Range and the Lake Mackay Gold-Copper Projects we have rapidly amassed one of the most enviable portfolios of gold prospects in Australia. As a result of this regional consolidation we believe the Company offers some of the best leverage to gold discovery in Australia. We look forward to growing our discoveries with an aggressive multi-target drill program commencing shortly."
Northern Tanami Projects
ABM holds multiple exploration licenses and applications in the Northern Tanami region of the Northern Territory located approximately 400 kilometres west of Tennant Creek and 200 kilometres south east of Halls Creek. The area is accessible by tracks from the Tanami / Groundrush Mines located immediately south of the project area. The Northern Tanami Project represents approximately 15% of the Company's 28,000 square kilometres of licenses throughout the Tanami and Arunta Provinces of the Northern Territory. The Company is acquiring further licenses in this region from Newmont Asia Pacific with this transaction scheduled to close on March 30th, 2010. The Hyperion and Grange Gold Projects are part of the acquisition from Newmont Asia Pacific announced on January 28th, 2010.
Hyperion Gold Project
The Hyperion Gold Project is located 18 kilometres north-northeast of the Groundrush Mine. The project consists of a 2 kilometre by 500 metre gold anomaly defined by over 300 shallow rotary air blast (RAB) holes averaging 54 metres depth. In addition a further 85 RC holes and 4 diamond holes have been drilled to an average depth of 125 metres and a maximum depth of 198 metres. Many of the RC and diamond holes intersected gold bearing quartz veins hosted by sediments. Five individual prospects exist within the project area - Hyperion Central, Hyperion West, Hyperion South, Stony Ridge and Jasper Hill. The Hyperion Central Prospect is 500 metres long with wide intercepts up to 60 metres wide down to 100 metres below surface and open down plunge.
Grange Gold Project
The Grange Gold Project is located 13 kilometres north-northeast of the Groundrush Mine. The project consists of a gold anomaly 3 kilometres by 500 metres and a second anomaly (Brokenwood) 1.5 kilometres by 200 metres defined by 700 RAB holes drilled into regolith averaging 33 metres depth with a 90 metre maximum depth. A total of 490 shallow RC holes have been drilled into the project with an average depth of 78 metres and maximum depth of 120 metres. Many holes intersected gold bearing quartz veins and several structures remain untested along strike and at depth. The fresh rock beneath the regolith zone is largely untested.
Soldier Gold Project
The Soldier Gold Project is a geochemistry anomaly measuring 2 kilometres by 1.5 kilometres and is located 85 kilometres north-northeast of the Groundrush Mine. The project consists of 90 aircore drill holes to an average depth of 33 metres and maximum depth of 90 metres. Drill holes intersected low-grade mineralisation. The fresh rock beneath the oxidized zone and several anomalous structural targets have not been tested and ABM intends to test this project with 2 to 3 RC / diamond holes into structural targets in 2010.
For the complete ABM Resources ASX Announcement and Figures, please click the link below:
http://www.abnnewswire.net/media/en/docs/62424-ASX-ABU-483238.pdf
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.
| ||
|
